Whilst records of company meetings are maintained, we do not systematically track the number of engagement meetings, letters or conversations we have with companies or whether the engagement was collaborative or not as we do not consider counting the number of engagements to be a good measure of the quality of engagement.
However, we can estimate for 2017, that USS sent approximately 250 engagement letters to 240 companies. The RI team also held engagement meetings with 40 companies during the year and conducted research on 44 additional companies.
Additionally, RI posted 137 research and meeting notes on the Internal Research Home page on Bloomberg which is available for all our portfolio managers. (We have not sought to count the meeting notes added by the portfolio manager's themselves, which would run into thousands).
USS participates in industry events and collaborative meetings convened by many of the collaborative initiatives listed in SG09 throughout the year. USS does not only engage with companies in the UK, we engage with companies internationally:
- USS participated in collaborative engagement meetings with BHP and Vale regarding the Samarco tailings dam disaster.
- In November 2017, a member of RI team spoke at the ACGA's annual conference (at a UBS event) held in Mumbai and participated in a delegation facilitated by ACGA which met with Indian regulators and companies. In May 2017, a member of the RI team chaired a panel at the RI Asia Conference, held in Tokyo, and participated in meetings with companies and regulators.
- USS also participated in an ACGA study trip to China, where we engaged with companies and regulators on ESG issues.
- USS participated in a fact finding trip to Japan to discuss ESG issues with a large Japanese conglomerate operating in the apparel and textile industries.
See other examples in LEA 24.