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You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes
External Manager ESG Engagement
HMC Sustainable Investing staff have held phone interviews with external managers to discuss their ESG policies, learn about any sustainability reporting, and share HMC's views.
HMC has opened a dialogue with some external managers regarding ESG issues. Select managers have been more inclined to keep HMC updated regarding developments to their sustianable investing practices.
Over the past two years, existing external managers in natural resources have been provided with more detailed guidance on reporting expectations surrounding interaction with government officials. These more detailed expectations are a result of increased focus on ensuring best practices surrounding anti-corruption efforts and ensure that HMC is able to effectively monitor and ensure proper governance within each investment.
As a result of these new guidelines, external managers are now providing HMC with more detailed reporting on government interactions and prompt notice regarding any incidents or potential issues thereby allowing both HMC and the external manager the opportunity to adhere to best practices.
HMC seeks to include in its side letters to new fund investments provisions regarding ESG integration and disclosure. The provisions are tailored by asset class and the manager’s ESG risk.
Select managers have acknowledged the PRI principles and HMC’s commitment to sustainable investing, and agreed to provide additional reporting on ESG incidents and/or performance.