The GES engagement model follows a systematic and structured process. The quarterly GES report to the Fund provides full transparency of engagements and progress. The Fund will report this through the quarterly RI reports. The Fund's investment manager's are expected to provide outcomes to engagement which maybe reported via GES but often by the manager individually. They, like GES, provide an RI report to the Fund which is used to discuss cases and detail progress. GES also provide a dedicated engagement progress report on an annual basis. This is a table of target companies with information on the previous years engagement and the state of progress.
The fund is careful to lend its voice to collaborative work that is structured and that offers clear objectives.
It is typical for the collaborative work to be done over an extended period of time with outcomes requiring patience and flexibility.
The Fund either directly or through GES will monitor and report outcomes.
For LAPFF-initiated engagements, progress is monitored by the service provider and progress reports are provided to members in the form of the Quarterly Engagement Report. Before each engagement meeting LAPFF sets out two or three objectives, then following the meeting an indication is provided of whether these objectives were achieved and if so how. An assessment is provided of progress, ranging from ‘no progress’ to ’substantial improvement’.
For other collaborative engagements, LAPFF will monitor companies for progress where LAPFF has a direct engagement interest or ongoing relationship with that company. For companies where LAPFF does not have a direct relationship, we allow other collaborators to evaluate company progress and report back.