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Pathfinder Asset Management

PRI reporting framework 2018

You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities

ESG incorporation in actively managed listed equities

Implementation processes

LEI 01. Percentage of each incorporation strategy

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

01.1. Indicate (1) which ESG incorporation strategy and/or combination of strategies you apply to your actively managed listed equities and (2) the breakdown of your actively managed listed equities by strategy or combination of strategies (+/- 5%)

ESG incorporation strategy (select all that apply)

Percentage of active listed equity to which the strategy is applied (+/- 5%)
34 %
Percentage of active listed equity to which the strategy is applied
66 %
Total actively managed listed equities 154%

01.2. Describe your organisation’s approach to incorporation and the reasons for choosing the particular ESG incorporation strategy/strategies.

We believe investing in a socially responsible manner will lead to better investment outcomes for our investors and better outcomes for society generally.

Considering all operational risks over a long-term horizon includes reviewing Environmental, Social and Governance (ESG) factors in their investment process.

We have chosen to avoid investing in some industries or companies that have significant ESG risks which we do not feel comfortable investing ie for example Tobacco. Our thematic strategies are based on broader ESG issues that we feel will have a significant impact if not addressed for example the water fund. 

01.3. If assets are managed using a combination of ESG incorporation strategies, briefly describe how these combinations are used. [Optional]

For all listed equity, Pathfinder excludes companies with (a) revenue from armaments, gambling, tobacco, thermal coal or pornography and (b) high levels of current operational “controversy”, and then prioritize companies with high environmental, social and governance scores.

 

In addition to this, for the Water Fund Pathfinder select listed water stocks from developed markets.


LEI 02. Type of ESG information used in investment decision (Private)


LEI 03. Information from engagement and/or voting used in investment decision-making (Private)


(A) Implementation: Screening

LEI 04. Types of screening applied

04.1. Indicate and describe the type of screening you apply to your internally managed active listed equities.

Type of screening

Screened by

Description

We believe investing in a socially responsible manner will lead to better investment outcomes for our investors and better outcomes for society generally.

We have chosen to avoid investing in some industries or companies that have significant ESG risks which we do not feel comfortable investing ie for example Tobacco, thermal coal and controversial weapons. Our thematic strategies are based on broader ESG issues that we feel will have a significant impact if not addressed for example the water fund. 

 

 

Screened by

          WHO Framework Convention on Tobacco Control (2003)
        

Description

Pathfinder have chosen to support the WHO Framework Convention on Tobacco Control (2003) whose aim is to "protect present and future generations from the devastating health, social, environmental and economic consequences of tobacco consumption and exposure to tobacco smoke". We therefore have chosen to exclude tobacco related investments from our portfolio.

04.2. Describe how the screening criteria are established, how often the criteria are reviewed and how you notify clients and/or beneficiaries when changes are made.

The screening criteria are established to reflect Pathfinder's investing values.  

Pathfinder uses the NZ Super Fund exclusions list as a starting point for our exclusions list.This list is updated on an ad-hoc basis but is at least once per annum. 

All changes are amended within our exclusions policy which is available on our website.

Investors are notified in our monthly reporting if screen criteria are changed. 


LEI 05. Processes to ensure screening is based on robust analysis

05.1. Indicate which processes your organisation uses to ensure screening is based on robust analysis.

05.2. Indicate the proportion of your actively managed listed equity portfolio that is subject to comprehensive ESG research as part your ESG screening strategy.

05.3. Indicate how frequently third party ESG ratings are updated for screening purposes.

05.5. Additional information. [Optional]


LEI 06. Processes to ensure fund criteria are not breached (Private)


(B) Implementation: Thematic

LEI 07. Types of sustainability thematic funds/mandates

07.1. Indicate the type of sustainability thematic funds or mandates your organisation manages.

07.2. Describe your organisation’s processes relating to sustainability themed funds. [Optional]

Pathfinder have three responsible investment funds that focus on water, global property, and broader responsible investment. 


(C) Implementation: Integration of ESG issues

LEI 08. Review ESG issues while researching companies/sectors

08.1. Indicate which ESG factors you systematically research as part of your investment analysis and the proportion of actively managed listed equity portfolios that is impacted by this analysis.

ESG issues

Proportion impacted by analysis
Environmental

Environmental

Social

Social

Corporate Governance

Corporate Governance

08.2. Additional information. [Optional]

ESG factors are research by both an external ESG service provider and our in-house team. 


LEI 09. Processes to ensure integration is based on robust analysis (Private)


LEI 10. Aspects of analysis ESG information is integrated into (Private)


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