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Public Sector Pension Investment Board

PRI reporting framework 2018

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You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories

08.1. Describe how you ensure that best RI practice is applied to managing your assets

Measures

          We communicate our recommendations to the managers and follow-up annually to see any improvements.
        

08.2. Additional information. [Optional]

For our public equities mandates, on an annual basis, we assess the ESG practices of our external managers and encourage the adoption of best practices by providing feedback and resources in order for them to do so.


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          ESG Information
        
Conducted by
Asset class
Scope and process

Monitoring: gather more information on our external managers' responsible investment practices, including how they take into account ESG factors in their investment process.

Outcomes

Built a starting point which helped our discussions on ESG with the managers going forward, as well as follow-up on any improvements

Topic or issue
          ESG scoring
        
Conducted by
Asset class
Scope and process

Developed a formalized ESG scoring matrix to assess the ESG practices of External Managers for each mandate. This applies to all active equity mandates with External Managers.

Outcomes

All External Managers with an active equity mandate undergo a formal ESG assessment are provided with an ESG score.

Topic or issue
          Best practices sharing
        
Conducted by
Asset class
Scope and process

Shared ESG best practices and resources (such as PRI or SASB guidelines and resources) with External Managers in order to encourage improvements in their ESG approach.

Outcomes

Following our discussions, some External Managers are now formalizing their responsible investment activities through the development of policies and/or procedures.

Topic or issue
          ESG calls with External Managers
        
Conducted by
Asset class
Scope and process

Conducted ESG calls with all potential shortlisted managers and new External Managers prior to a commitment to a new mandate and regularly thereafter.

Outcomes

Obtain further information about the External Manager's ESG practices and discuss areas of strength and opportunities for improvement in their ESG approach. Open the channel of communication between the External Manager and PSP Investments' Responsible Investment Group to create a relationship of sharing information and ongoing dialogue about ESG practices.

Topic or issue
          Monitoring of ESG performance of investments
        
Conducted by
Asset class
Scope and process

Conducted ongoing monitoring of ESG performance of External Manager's investments and followed-up with External Managers after ESG-related incidents at a company included in the portfolio during quarterly calls or the annual review process.

Outcomes

Understand how External Managers considered ESG factors in their investment decision-making process and how they followed-up post ESG-related incidents (divestment, engagement etc.).

09.2. Additional information.


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