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Strathclyde Pension Fund

PRI reporting framework 2017

You are in Strategy and Governance » Implementation not in other modules

Implementation not in other modules

SG 12. ESG issues in strategic asset allocation

New selection options have been added to this indicator. Please review your prefilled responses carefully.

12.1. Indicate if your organisation executes scenario analysis and/or modelling in which the risk profile of future ESG trends at portfolio level is calculated.

          LAPFF commissions research to execute scenario analysis which includes factors representing the investment impacts of future environmental trends
        

12.2. Indicate if your organisation considers ESG issues in strategic asset allocation and/or allocation of assets between sectors or geographic markets.

          The Fund operates an ESG positive Direct Investment Portfolio
        

12.3. Additional information. [OPTIONAL]

The Fund operates a Direct Investment Portfolio (DIP). Our traditional approach to RI has been, by and large, top-down - ensuring that ESG concerns in our portfolios are recognised and addressed. Alongside this the rapidly growing DIP portfolio operates a bottomup approach where we exercise a preference for new investments with positive ESG criteria (always alongside sound financial criteria).

The Fund has continued to add to its renewable energy investments through the Direct Investment Portfolio (DIP). Investment and commitments currently stand at £ £218m which equates to 34% of the overall DIP portfolio.


SG 13. Long term investment risks and opportunity

13.1. Some investment risks and opportunities arise as a result of long term trends. Indicate which of the following you act on.

13.2. Indicate which of the following activities you have undertaken to respond to climate change risk and opportunity

13.3. Indicate which of the following tools you use to manage emissions risks and opportunities

other description (1)

          LAPFF - human rights including labour rights, corporate governance including executive pay and gender on boards, reliable accounts, palm oil, and clinical trials transparency.
        
          SPF - labour rights, living wage, worker safety, executive remuneration, endangered species, child labour, water rights, and farm animal welfare, carbon reduction and many others
        

13.5. Additional information [Optional]


SG 14. Allocation of assets to environmental and social themed areas

New selection options have been added to this indicator. Please review your prefilled responses carefully.

14.1. Indicate if your organisation allocates assets to, or manages, funds based on specific environmental and social themed areas.

14.2. Specify which thematic area(s) you invest in, indicate the percentage of your AUM in the particular asset class and provide a brief description.

Area

1 % of AUM

Brief description and measures of investment

The Fund has invested in all the main renewable energy technologies.

Terra Firma Infrastructure Fund for Global Renewable Energy

http://www.glasgow.gov.uk/councillorsandcommittees/viewSelectedDocument.asp?c=P62AFQUTZLZ30GNT

Iona Environmental Infrastructure LP

http://www.glasgow.gov.uk/councillorsandcommittees/viewSelectedDocument.asp?c=P62AFQUTT1ZL0G81

Resonance British Wind Energy Limited

http://www.glasgow.gov.uk/councillorsandcommittees/viewSelectedDocument.asp?c=P62AFQUTT1ZL0GZ3

Aviva Investors PiP Solar PV Fund

http://www.glasgow.gov.uk/councillorsandcommittees/viewSelectedDocument.asp?c=P62AFQUT81DX2UZ3

 

% of AUM

Brief description and measures of investment

Panoramic Growth Fund

http://www.glasgow.gov.uk/councillorsandcommittees/viewSelectedDocument.asp?c=P62AFQDNT1DN2U81DN

Local SME financing-Scottish Loan Fund

http://www.glasgow.gov.uk/councillorsandcommittees/viewDoc.asp?c=e%97%9Df%91mz%8B

% of AUM

Brief description and measures of investment

Social Infrastructure-Alpha Real Capital Social Infrastructure Fund

http://www.glasgow.gov.uk/councillorsandcommittees/viewSelectedDocument.asp?c=P62AFQUTZLZ30G0G

          Community renewable energy-Albion Community Power PLC
        
% of AUM

Brief description and measures of investment

Albion Community Power PLC

http://www.glasgow.gov.uk/councillorsandcommittees/viewSelectedDocument.asp?c=P62AFQUTT1DN0GZ3

14.3. Additional Information [Optional]

          
        

SG 15. ESG issues for internally managed assets not reported in framework (Not Applicable)


SG 16. ESG issues for externally managed assets not reported in framework

16.1. Describe how you address ESG issues for externally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Other (2) [as defined in Organisational Overview module]

The Fund will be focusing on all asset classes to drive better and more visible PRI compliance in 2017. The Fund and GES have met with the private equity managers in 2016 to agree a road map to better ESG compliance and reporting going foward. The Fund's focus on carbon will include all asset classes and carbon footprinting will be expanded over the next year.

The Fund uses the same manager selection process whatever the asset class and requires its investment managers to disclose and explain how they integrate ESG into their investment process, whatever the asset class. This was evidenced during the Fund's procurement of multi-asset credit and private debt mandates in the long term enhanced yield strategy in 2016.

16.2. Additional information.

 

 


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