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CBRE Global Investors

PRI reporting framework 2018

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Process

Process for engagements run internally

LEA 03. Process for identifying and prioritising engagement activities

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

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagement activities carried out by internal staff.

03.2. Describe the criteria used to identify and prioritise engagement activities carried out by internal staff.

03.3. Additional information. [Optional]


LEA 04. Objectives for engagement activities

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

04.1. Indicate if you define specific objectives for your engagement activities.

04.2. Indicate if you monitor the actions that companies take during and following your engagements activities carried out by internal staff.

04.3. Indicate if you do any of the following to monitor and evaluate the progress of your engagement activities carried out by internal staff.

04.4. Additional information. [Optional]

Portfolio managers and analysts frequently engage with portfolio companies on a variety of issues. For 2017, we logged engagements with over 130 companies related to ESG issues.  The goals of engagement are driven by the relevant analyst. Environmental issues addressed include the adherence to local protocols for evaluating the environmental performance of buildings as well as more general topics relating to energy conservation and efficiency.  Social issues addressed include community-support initiatives and charitable efforts, as well as building designs intended to focus on the well-being of tenant employees (e.g., WELL certification).  Governance items we engage on include specific items such as board independence and structure, ownership, proxy access, takeover defenses and executive compensation.   

In addition, we continued our efforts to support GRESB by engaging with 30 non-participating companies to emphasize the importance of the survey and encourage participation going forward.


General processes for all three groups of engagers

LEA 09. Share insights from engagements with internal/external managers

09.1. Indicate if insights gained from your engagements are shared with your internal or external investment managers.

Type of engagement

Insights shared

Individual/Internal staff engagements

09.2. Additional information. [Optional]

CBRE Clarion does not have a separate ESG team, so the same individuals (analysts) conducting engagement and making proxy voting decisions are also responsible for recommending an investment in a particular company.  Senior members of the investment team (those participating in CBRE Clarion’s Responsible Investment Management Committee) are responsible for aggregating such information and enabling analysts to understand the ESG issues being considered by their peers.


LEA 10. Tracking number of engagements

10.1. Indicate if you track the number of your engagement activities.

Type of engagement
Tracking engagements

Individual / Internal staff engagements

10.2. Additional information. [OPTIONAL]

A log of engagement activity is maintained to track engagements between our analyst teams and the companies they cover.  Log entries include the following information: company, analyst, issue type (E, S or G) and issue description.  Senior members of the investment team (those participating in CBRE Clarion’s Responsible Investment Management Committee) are responsible for coordinate the logging of engagement activity and providing feedback to the analyst team on the engagement activities.  Since the analysts meet with company management frequently and sometimes on an ad hoc basis, some less substantive engagements may not be logged.


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