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United Nations Joint Staff Pension Fund

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

          UN PRI reporting and assessment disclosure.
        

08.2. Additional information. [Optional]

The investment approach is consistent with the best practices adopted by the UNJSPF broader policy guidelines, including:

Principles of Responsible Investment (PRI)
United Nations Global Compact (UNGC)
United Nations Environment Programme Finance Initiative (UNEP FI)

IMD holistically integrates ESG throughout the entirety of the Fund's internal and external investment process, including periodic reporting of the following components


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
          GRESB Board Participation
        
Conducted by
Asset class
Scope and process

The Townsend due diligence process includes a comprehensive review of an investment sponsor’s commitment to and implementation of ESG principals. This review occurs in the later stage of our process and is critical in the final analysis when presented to our Investment Committee. In particular, the real estate sector has incorporated a variety of sustainability principals (energy and water efficiency, recycling programs, access to public transportation, etc.), especially in connection with new construction and value added investments that include building rehabilitation.  To the extent an investment sponsor is not considering these principles today, our due diligence team identifies the deficiency in our final due diligence report.

 

Outcomes

Improved ESG due diligence questionaire standards. 

Topic or issue
          IFC  - Social and Enviromental
        
Conducted by
Asset class
Scope and process

The team that conducts the due diligence is responsible for the fact finding through review of ESG data and sustainability reports. Each investment team has an ESG sector team leader, such that each of StepStone’s sector teams includes a research professional who is responsible for the oversight of ESG due diligence and monitoring across the sector team’s investment activity. The ESG sector lead drives ESG best practice in their respective vertical and engages with the ESG Committee. Every Investment Memorandum has a dedicated ESG section – these are reviewed by the ESG sector lead and ESG Committee. Then, as part of the investment process, the information is discussed in the Investment Committee meetings.  Our comprehensive approach to investment analysis looks to incorporates ESG considerations as part of the overall process.

Outcomes

Improved ESG due diligence questionaire standards. 

Topic or issue
          Small Cap Equity
        
Conducted by
Asset class
Scope and process

Mercer has been at the forefront of this important aspect of investing since forming a dedicated global team of RI specialists in 2004.  

Contact a Mercer RI specialist

Our RI team’s thought leadership, innovation, advice and research helps Mercer’s clients and our own portfolio managers mitigate risk, demonstrate active ownership, and construct investment portfolios targeting long-term returns and sustainable growth. The team also helps those investors seeking greater alignment between their organisation’s values, policies, and investment allocations.  It seeks to challenge current thinking and always think long-term to anticipate and drive beneficial change. In short, our RI team helps shape and set the ESG agenda for investors around the world.

Our research and innovative thinking in this area dovetails with our broader Mercer Governance Practice Solutions and Mercer’s industry engagement with highly-regarded groups like the World Bank Group’s International Finance Corporation (IFC) and the Investor Groups on Climate Change (IGCC).

Outcomes

Added ESG metrics to due diligence and maanger review report. 

09.2. Additional information.


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