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Local Government Superannuation Scheme

PRI reporting framework 2017

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Promoting responsible investment

SG 09. Collaborative organisations / initiatives

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

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGS has been a signatory to the Principles of Responsible Investment (PRI) since 2007. The PRI’s efforts to establish a global framework for institutional investors to integrate responsible investment holds particular appeal for LGS.

We undertake to develop approaches across the PRI guiding principles and have been a strong reporter and participant in PRI projects.

LGS has been actively involved in the following PRI working groups:

  • Palm oil working group – ongoing
  • Unconventional gas working group - ongoing
  • Climate Change Strategy project – 2014-15
  • PRI case study on LGS and our approach to thematic investments (http://www.unpri.org/viewer/?file=wp-content/uploads/ESthemedinvestingcasestudy_LGSuper.pdf) – October 2013
  • PRI Reporting and Assessment Steering Group dedicated to designing a new reporting standard for UNPRI signatories
  • ESG and Executive Pay working group (which produced the Integrating ESG issues into Executive Pay paper dated June 2012)
  • Cluster munitions divestment investor group
  • The Private equity disclosure project working group (which released the paper Environmental, Social, and Corporate, Governance (ESG) Disclosure Framework for Private Equity, March 2013)
  • Sustainable Fisheries Investor Working group
  • Emerging Markets and Disclosure Project
  • Other initiatives that use UNPRI resources and secretariat which LGS has supported includes the Forest Roundtable for Sustainable Palm Oil and the Access to Nutrition Index.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGS attended ACGA meetings held in Australia during the year.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGS is a Foundation Member and client of the Australian Council of Superannuation Investors (ACSI). In July 2013 a representative of LGS became a director of ACSI. LGS also participates in the ACSI Member Council.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGS was the first Australian member of GRESB. LGS participates in the GRESB survey for our own internally managed direct property portfolio. LGS has achieved a top level 'Green Star' rating by GRESB in previous years.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGS collaborates with the IIGCC through its membership and involvement with the IGCC in Australia.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGS is actively involved with IGCC. LGS views climate change as the most signficant investment risk for our portfolio. Since 2011 an LGS representative has been on the IGCC Management Committee. This requires providing strategic guidance and overview to the IGCC executive at monthly meetings. LGS is also currently involved in Low Carbon Finance and Policy working groups as well as attending monthly member meetings.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGS is part of an international coalition of 70 investors that are engaging with 40 of the world's largest coal, oil and gas companies on the area of climate change risks notably the concepts of 'unburnable carbon' and stranded assets.

 
          Responsible Investment Association of Australasia (RIAA)

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGS is a long standing member of RIAA which is the peak industry body for professionals working in responsible investment in Australia and New Zealand. LGS provides regular input into RIAA newsletters and presents regularly at their various events throughout the year. LGS also participates in the Corporate Engagement Working Group and a representative sits on their Certification Assessment Panel which oversees the RIAA responsible investment certification program.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGS has worked with UNEP FI on our approach to assessing carbon risks across our investment portfolios. In 2015 we signed the Montreal Carbon Pledge to disclose the carbon emissions of our listed equities portfolio. We have also committed to the Portfolio Decarbonisation Coalition.

In July 2013, LGS was a case study as a leading investor globally in the UNEP FI document 'Portfolio Carbon Measuring, disclosing and managing the carbon intensity of investments and investment portfolios' (http://www.unepfi.org/fileadmin/documents/UNEP_FI_Investor_Briefing_Portfolio_Carbon.pdf)

LGS was also asked to participate on an international advisory council to develop Scope 3 Greenhouse Gas Reporting Protocol for Finance Sector Guidance (http://www.ghgprotocol.org/standards/scope-3-standard">http://www.ghgprotocol.org/standards/scope-3-standard)

 
          Asian Investor Group on Climate Change (AIGCC)

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGS is an 'international supporter member' of AIGCC.

 
          Global Investor Coalition on Climate Change (GIC)

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGS is involved in the GIC via our Management Committee status on the Investor Group on Climate Change. LGS was also profiled as a case study in the 2015 low carbon registry and the 2013 Global Climate Change Investor Survey http://globalinvestorcoalition.org/projects/.

 
          Green Building Council of Australia

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We are currently undertaking the GBCA's GreenStar performance assessment for our property portfolio. For more information on LGS' involvement in Australian green property initiatives, refer to https://www.lgsuper.com.au/investments/how-we-invest-your-money/property-portfolio/

SG 10. Promoting RI independently (Not Completed)

SG 11. Dialogue with public policy makers or standard setters

11.1. Indicate if your organisation - individually or in collaboration with others - conducted dialogue with public policy makers or regulators in support of responsible investment in the reporting year.

11.2. Select the methods you have used.

11.3. Where you have made written submissions (individually or collaboratively) to governments and regulatory authorities, indicate if these are publicly available.

provide URL http://www.igcc.org.au/publications-summary
provide URL https://acsi.org.au/publications-1/policy-submissions.html
provide URL

11.4. Provide a brief description of the main topics your organisation has engaged with public policy-makers or regulators on.

Global climate change policy makers in collaboration with IGCC. Council of the Parties (COP) 22 was a global success with agreement reached on future action needed to address climate change.

The recently issued Recommendation of the Task Force on Climate Related Financial Disclosures (TCFD) is an example of one of the main topics LGS has collaborated with IGCC on.  LGS has worked with IGCC on Investor statements regarding TCFD to enhance clarity for disclosure on financial risks and opportunities by various institutions and corporations.

In a sign of progress APRA, the Australian regulator has recently acknowledged climate change risk as a real and possibly material threat which may lead to a significant reallocation of capital. 
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