Provide additional information relevant to your organisation's monitoring processes of external managers.
Currently relates only to those managers that hold themselves out as ESG managers. In terms of ESG score, we do monitor external managers’ ESG scores with a 3rd party ESG data tool on a bi-annual basis, and use the score as an important input to our conversation with external managers. However, we do not ask our ESG managers to comply with a scoring threshold. In the event that the manager’s ESG score falls more than 1.5 (in a scale out of 10), which we could consider “material”, we will have a conversation with the manager. This has not happened in the past 4 years since we started our program. We also probe our external managers for the ESG composition of the portfolios and monitor that on a continuous basis.