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Northern Ireland Local Government Officers' Superannuation Committee

PRI reporting framework 2018

You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          Appointment of Investment Manager
        
Conducted by
Asset class
Scope and process

Investment Manager appointments are made following an open and transparent procurement process carried out by internal staff and Investment Consultants.  Responsible investment is one of the criteria in which managers needed to demonstrate their capabilities as part of the tender process.  Only those managers who demonstrate satisfactory ESG Practices were considered for appointment.

Outcomes

An Investment Manager was appointed who is able to take into consideration ESG (Environmental, Social and Governance) issues, including climate risk, as part of the investment process, provided the primary financial obligation is not compromised.

Topic or issue
          ESG Reporting
        
Conducted by
Asset class
Scope and process

NILGOSC requires its managers to monitor investee companies and engage with company management where Environmental, Social or Governance (ESG) practices fall short of best practice. All managers are required to report back quarterly on any activity undertaken and their ability to provide evidence that they are taking ESG issues into account during the investment process forms part of NILGOSC's quarterly evaluation of their performance. One of NILGOSC's fund managers was not providing an adequate level of reporting on ESG issues. The issue was raised during the quarterly monitoring process.

Outcomes

The manager agreed to provide portfolio specific data verbally in a conference call format on a bi-annual basis going forward. The first call was held during March 2017 and some useful information was provided to NILGOSC. This is an improvement on information previously provided.

09.2. Additional information.


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