This report shows public data only. Is this your organisation? If so, login here to view your full report.

Universities Superannuation Scheme - USS

PRI reporting framework 2018

Export Public Responses
Pdf-img

You are in Direct – Private Equity » Outputs and outcomes

Outputs and outcomes

PE 14. ESG issues affected financial/ESG performance

New selection options have been added to this indicator. Please review your prefilled responses carefully.

14.1. Indicate whether your organisation measures how your approach to responsible investment in Private Equity investments has affected financial and/or ESG performance.

14.2. Describe how you are able to determine these outcomes.


PE 15. Examples of ESG issues that affected your PE investments

New selection options have been added to this indicator. Please review your prefilled responses carefully.

15.1. Provide examples of ESG issues that you identified in your potential and/or existing private equity investments during the reporting year.

Investment Stage
ESG issues
          Child safety
        
Sector(s)
Impact (or potential impact) on the investment
Activities undertaken to influence the investment and its response
Investment Stage
ESG issues
          Contaminated land
        
Sector(s)
Impact (or potential impact) on investment
Activities undertaken to influence the investment and its response
Investment Stage
ESG issues
          Electric and autonomous vehicles
        
Sector(s)
Impact (or potential impact) on investment
Activities undertaken to influence the investment and its response
Investment Stage
ESG issues
          Stranded assets and carbon price modelling
        
Sector(s)
Impact (or potential impact) on investment
Activities undertaken to influence the investment and its response
Investment Stage
ESG issues
          Internal controls
        
Sector(s)
Impact (or potential impact) on investment
Activities undertaken to influence the investment and its response

15.2. Describe how you define and evaluate the materiality of ESG factors.

At USS our duty is to protect and enhance the value of our investments over the long-term, with the ultimate aim of providing secure pensions for our members. This means we need to consider all long-term risks to the performance of our investments, including material environmental, ethical, social and corporate governance (ESG) factors where these have a financial bearing. Examples of ESG matters routinely considered by the fund are outlined under the RI Approach page on the fund's website - see https://www.uss.co.uk/how-uss-invests/responsible-investment/approach.

USS employs an experienced in-house RI team to help identify and review ESG risks and materiality on a deal by deal basis. The scheme commits resources to ensuring that the team has access to research and tools to implement RI, and is committed to continuous professional development through participation in industry initiatives and events and training. Through this process, ESG risks, their materiality and the mitigants in place to manage these risks are outlined ahead of each deal, and feed into the investment decisions taken by the Private Markets Investment Committee.

In addition, where external specialist environmental etc. consultants are used in the ESG due diligence process, we will usually request that they provide monetary values on issues they identify.  This ensure that those which hit a certain materially threshold are included with other financially material issues in future management planning. 


Top