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PRI reporting framework 2018

You are in Direct - Listed Equity Active Ownership » Engagement » Outputs and outcomes

Outputs and outcomes

LEA 11. Number of companies engaged with, intensity of engagement and effort

11.1. Indicate the amount of your listed equities portfolio with which your organisation engaged during the reporting year.

Number of companies engaged

(avoid double counting, see explanatory notes)

Proportion (to the nearest 5%)
Specify the basis on which this percentage is calculated

Individual / Internal staff engagements

67 Number of companies engaged
20 Proportion (to the nearest 5%)

Specify the basis on which this percentage is calculated

Collaborative engagements

4
0 Proportion (to the nearest 5%)

Specify the basis on which this percentage is calculated

11.2. Indicate the proportion of engagements that involved multiple, substantive and detailed discussions or interactions with a company during the reporting year relating to ESG issue.

Type of engagement

% Comprehensive engagements

 

 

Individual / Internal staff engagements

 

 

Collaborative engagements

11.3. Indicate the percentage of your collaborative engagements for which you were a leading organisation during the reporting year.

Type of engagement

% Leading role

  Collaborative engagements

11.5. Additional information. [Optional]


LEA 12. Engagement methods

12.1. Indicate which of the following your engagement involved.

12.2. Additional information. [Optional]


LEA 13. Companies changing practices / behaviour following engagement

13.1. Indicate whether you track the number of cases during the reporting year in which a company changed its practices, or made a formal commitment to do so, following your organisation’s and/or your service provider's engagement activities.

Do you track number of companies that changed or made a formal commitment to change in the reporting year following your organisation’s and/or your service provider's engagement activities?

13.2. Indicate the number of companies that changed or made a formal commitment to change in the reporting year following your organisation’s and/or your service provider's engagement activities.

Number of companies
% of total portfolio

Individual / Internal staff engagements

8
3 % of total Portfolio

Collaborative engagements

2
1 % of total Portfolio

13.3. Additional information [Optional].


LEA 14. Examples of ESG engagements

14.1. Provide examples of the engagements that your organisation or your service provider carried out during the reporting year.

ESG factors
ESG issue
          Engagement on labour relations at a low-cost European airline company based in Ireland.
        
Conducted by
Objectives

The reputation and operational risks associated with the poor labour relations had been an issue for some time. We set the objective to force the company to reconsider its practices in HR management, and potentially trade unions recognition.

Scope and Process

After talking about this issue with the management team (CFO, COO, CMO etc) during various roadshows, we took the decision to address the issue directly with the Head of HR at the headquarter of the company in Dublin.

In June,we were offered the opportunity to visit all the floors and offices of the Headquarter and discuss with employees. We also had a one hour meeting with the Deputy Head of HR, as well as the CFO to discuss HR at length.

Four months later, we were also given the opportunity to meet with the CEO to discuss the matter in London.

Outcomes

Given the context of flights cancellations, poor media coverage and intense labour relations from September on, our engagement looked like relevant and material to the management team and the board. In September, the company announced a general pay rise, notably to its pilots.

Our discussion in November may also have had an impact due to the fact that we had been discussing the matter for a while and because of all the disruptions that had emerged in a few months.

The outcome was that in December the airline company announced they would recognize trade unions going forward.

14.2. Additional information. [Optional]


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