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CBRE Global Investors

PRI reporting framework 2018

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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes

実施プロセス

LEI 01. Percentage of each incorporation strategy

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

01.1. 以下を記載してください。(1)組織でのアクティブ運用上場株式にどのESG組み入れ戦略や組み合わせを使用しているか(2)アクティブ運用している上場株式の戦略または戦略の組み合わせ別内訳

ESG組み入れ戦略 (当てはまるものをすべてお選びください)
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
99 %
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
1 %
アクティブ運用している上場株式の合計 100%

01.2. 組織が実施しているESG組み入れアプローチ、および、特定のESG組み入れ戦略を選択している場合はその理由を説明してください。

We believe that sustainability issues are relevant and can be material in evaluating management teams of listed property companies.  More specifically, we believe that management teams which articulate, enact and measure sustainability issues are more likely to make superior business decisions in general.  We underwrite companies using a ranking system called Relative Value Analysis (RVA), which is a factor-based model incorporating qualitative and quantitative inputs.  An assessment of management quality is a qualitative input, which typically constitutes approximately 25% of a company’s overall RVA score.  Accordingly, companies whose management teams are evaluated more favorably regarding sustainability issues will generate higher overall RVA scores.  Our assessment of management reflects the team’s ability to execute on an intelligent business strategy over time, including its ability to make decisions which add to shareholder value over time, and its ultimate alignment with shareholders.  To the extent that management’s view towards sustainability issues adds to shareholder value over time, other inputs to the RVA score will also indirectly reflect this impact, via higher earnings growth and potentially higher valuation multiples.

01.3. ESG組み入れ戦略の組み合わせを使用して資産を運用している場合、ESG戦略の組み合わせをどのように使用しているかを簡単に説明してください。 [任意]

Not applicable because we do not use a combination of ESG incorporation strategies.


LEI 02. Type of ESG information used in investment decision (Private)


LEI 03. Information from engagement and/or voting used in investment decision-making (Private)


C) 実施: 統合

LEI 08. Review ESG issues while researching companies/sectors

08.1. 投資分析の一部として体系的に調査するESG要因と、この分析の影響を受けるアクティブ戦略の上場株式ポートフォリオの割合を記載してください。

ESG問題

影響を受ける割合
Environmental

E(環境)

Social

S(社会)

Corporate Governance

コーポレートガバナンス

08.2. 補足情報 [任意]

Analysts are responsible for the systematic analysis of the impact of environmental, social and governance factors on the companies they cover and are expected to take all such factors into account when formulating “quality” inputs into our relative value analysis (RVA) model, which provides a framework for investment decision-making, as well as when recommending transactions to the portfolio managers.  The integration of this approach is less formal in relation to investment strategies beyond real estate, although such strategies account for a small percentage of our assets under management.


LEI 09. Processes to ensure integration is based on robust analysis (Private)


LEI 10. Aspects of analysis ESG information is integrated into (Private)


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