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Public Sector Pension Investment Board

PRI reporting framework 2018

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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.

other description

          Portfolio managers may identify engagement priorities based on their portfolio strategies.
        

03.3. Additional information. [Optional]

PSP Investments' engagement strategy and approach is described in our Responsible Investment Policy.

Public companies are selected for engagement based on a process that takes into account such factors as ability to create shareholder value, prospects for successful engagement and relevance of ESG issues. Many of our engagements are triggered because companies have not provided sufficient information in their disclosures to fully inform our assessment of the quality of their governance practices, including the exposure to and management of environmental and social factors. We may choose to engage with companies directly, through service providers, or collaboratively with other investors. If we conduct individual engagements, our preference is to do so privately. The intensity of our engagements varies depending on the issues at stake. Some engagements entail one or two meetings over several months; others are more complex and warrant multiple meetings with board members and senior management over several years. We establish our engagement objectives based on issues for which we believe behavioural changes are warranted. Often, multiple ESG factors need to be addressed within a given company. Each of them may require varying approaches and levels of engagement, as well as different contact points.


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]

We will review the responses received and monitor public disclosure of public companies following engagement to identify improvements or changes in practice.  If we are not satisfied with the measures taken, we will determine next steps which can include follow-up meetings, voting against management’s proposals at the next shareholders’ meeting and reassessing the investment strategy.  


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