Provide a brief description of how your organisation includes responsible investment considerations in your investment manager selection, appointment and monitoring processes.
ESG integration is mandated across all assets, including: listed equity (small-caps & frontier), private equity (GP/LP) and real assets (GP/LP). The following ESG approach is deployed throughout the various phases:
- IMD listed external equity (small-cap & frontier), private equity and real assets teams, in conjunction with their respective non-discretionary advisers, deploy a customized due diligence questionnaire, which covers all aspects of broader based ESG application to risk management, valuation and etc.
- Tobacco and Weapons investments are an immediate and mandatory exclusionary standard per the Fund's IPS parameters.
- Each asset in the final approval process is given an ESG materiality weighting based upon the asset, sector and exposure. The weighted score is then factored into the final manager score.
- Minimum requirements for signatory or memberships in responsible investing standards, such as UN PRI, UNEP FI, UNGC, LEED, BREAM and GCAP are given priority over non-compliant managers.
- Quarterly manager reviews are mandatory and responses are matched to post-boarding quarterly review questionnaire.
- Annual PRI reviews of all external managers reports. If the manager does not submit to PRI, each manager must answer an annual internal ESG questionnaire.