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Alliance Bernstein

PRI reporting framework 2018

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Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

The Responsible Investment Committee sets out the goals for the responsible investment activities at AB at least annually. The committee meets several times a year to review progress and respond to market developments.   


SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          Conduct training sessions; leverage existing internal processes.
        

Progress achieved

Training occurs both formally and informally. We meet with a variety of third parties as we continue to enhance our ESG integration. These meetings have consisted of third-party ESG service providers, industry experts and other stakeholders. Our responsible investment staff also meet with analysts to discuss a variety of ESG-related topics.

Key performance indicator

          More effective company/issuer engagements.
        

Progress achieved

Our responsible investment staff meet with analysts to prepare for company meetings on ESG-related topics, and have a structured process for engagement.  In 2016, we developed an engagement framework to identify companies to engage, and it was piloted in 2017. We also published an engagement policy. 

 

Key performance indicator

          More frequent discussions with personnel at all levels and in a variety of roles, including partners, investment teams, and client-facing staff.
        

Progress achieved

The CEO, partners and other senior personnel in investments and client-facing teams are updated on market developments, our approach, policies and new responsible-investment focused services.  In addition, the responsible investment team, members of the Responsible Investment Committee, and increasingly, other individuals within the firm are well versed on our ESG activities and communicate with their colleagues around the world. The communications take place in formal and informal settings.    

Key performance indicator

          Develop engagement framework and log examples.
        

Progress achieved

We developed an engagement framework which has both quantitative and qualitative inputs to help us focus on engagements where there are material issues, and where we can influence to effect change. The framework was completed in 2016 and was piloted in 2017. We increased the number of examples tracked.

 

 

Key performance indicator

          Continue to enhance ESG integration.
        

Progress achieved

In our Fixed Income credit team, they have enhanced their ESG scoring tool which is integrated into the analysts' proprietary credit assessment. In Equities, PMs have identified a fundamental analyst on their team to be the ESG champion, who raises ESG issues during research discussions and is the contact on related projects.

We also continue to educate analysts on the material ESG issues in their industries through training as noted above. Additionally, the ESG Analyst and Head of RI continually engage with analysts on issues that impact a particular company or industry.

 

          Thought leadership
        

Key performance indicator

          Host ESG-focused events and participate in industry-wide discussions.
        

Progress achieved

AB hosted several impact investing symposia for clients and prospects. We wrote several ESG-related blogs, and our staff continues to participate in a variety of industry events as speakers, moderators, panelists, and/or participants.

Financial performance of investments

ESG characteristics of investments

Other description (1)

          Develop responsible investment platform
        

Key performance indicator

          New product launches and attract AUM
        

Progress achieved

Launched three ESG-focused products in 2016: Muni Impact, Global Responsible Factor Fund, and Sustainable Global Thematic. In 2017 we worked on developing three new products: a Sustainable Global Fixed Income strategy and ESG Strategic Equities strategy for our private clients, and AB Green Managed Volatility Equities (MVE), which is set against our ‘Green Alpha’ philosophy. We expect these to be launched in 2018.

Other activities

Key performance indicator

          Participation on panels and event attendance
        

Progress achieved

We are actively engaged in industry events, both as participants and as panelists. Responsible Investment personnel and others involved in ESG-focused strategies participate in a variety of industry events as participants, panelists, moderators, and/or speakers.

Key performance indicator

          Documentation of engagement examples
        

Progress achieved

We maintain a database where our fundamental analysts and the RI team populate with material ESG engagements. This number had increased in 2017.

06.2. Additional information.


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