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Colonial First State Global Asset Management (including First State Investments)

PRI reporting framework 2017

Export Public Responses

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INF 22. Disclosure of ESG information to public and clients/beneficiaries

22.1. 組織が積極的にインフラ投資に関するESG情報を開示しているかどうかを記載してください。

22.2. 一般に開示されているESG情報の水準が、顧客や受益者に公開されている情報の水準と同じであるかどうかを記載してください。

22.3. 組織が一般に積極的に開示しているESG情報の種類を記載してください。

22.4. 組織が一般にESG情報を開示する通常の頻度を記載してください。

22.5. 組織が顧客や受益者に積極的に開示しているESG情報の種類を記載してください。

22.6. 組織が顧客や受益者にESG情報を開示する通常の頻度を記載してください。

22.7. 組織が一般や顧客/受益者に開示しているESG情報、それをどのように積極的に開示しているかを説明してください。 [任意]

Due to the nature of our investments, our public disclosure is via both the investee companies and via our investment management business. 

Our portfolio companies interact directly with the public.  Firstly by way of annual reporting.  This may include ESG sections of regular annual reports and/or specific ESG reports.  Secondly, these businesses also interact with the pubic via specific community forums (usually focused on particularly issues or new projects).

For our investor clients, there is usually full disclosure of a range of ESG performance issues as outlined in other parts of this report. We have regular quarterly reporting, which captures all relevant investment metrics and considerations, including ESG; there is also ad hoc reporting, for example, if there were an ESG issue that warranted disclosure to investors, this would be done as and when required (see Question 23); and lastly, our funds produce an annual ESG Report, which highlights the ESG approach of the Manager, as well asset-specific examples and case studies across the entire portfolio of the relevant fund.

The Manager also produces public disclosure.  The highlight of this is the Responsible Investment and Stewardship Report, which covers team profiles, case studies, and ESG metrics.  It can be found online: 

22.8. 補足情報。 [任意]

INF 23. Approach to disclosing ESG incidents

23.1. インフラ投資におけるESGのインシデントを投資家である顧客に開示する際の組織のアプローチについて説明してください。

Any ESG issues that have a material impact on the investment performance of a particular company are reported to the client immediately if they are significantly material or otherwise, they are reported in the course of the normal quarterly reporting cycle. If the particular issue has the potential to involve media attention or significant community or regulatory attention (even if it has low financial impact) then the shareholders and investors will be notified.

The shareholders will be provided with a brief overview of the issue as it arises and this is then followed up with a more detailed analysis (including any impact on the financial performance of the asset) when that detail is made available from the management team of the company. Full coverage of the issue is then provided in the next quarterly report to ensure the client is fully aware of the issue, the reasons it arose and the impact it has had on the business (financially and otherwise) and measures undertaken to mitigate or prevent reoccurrences of the incident

Investors also occasionally request briefings on issues that arise (for example a change in government policy response to carbon pricing) on a case by case basis and we also prepare specific topical briefing papers on issues, even if they won't have a material impact on the business.