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Legal & General Investment Management (Holdings)

PRI reporting framework 2018

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Promoting responsible investment

SG 09. Collaborative organisations / initiatives

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

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We are an active member of the PRI.

Member of the Advisory Committee on Credit Ratings; involve din Tax engagements; member of Deforestation Advisory Committee and Working Group; member of Palm Oil Working Group;  SDGs in Active Ownership, as well as joining a number of other collaborative engagements.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGIM is part of ACGA which plays a vital role to strengthen the corporate governance work in Asia as our assets increase in this area. ACGA is a very well respected organisation dedicated to working with investors, companies and regulators in the implementation of effective corporate governance practices throughout Asia.

LGIM regularly joins the member calls, and participates at conferences and research trips hosted by ACGA. Additionally, LGIM is a member of the Japan Working Group, advising ACGA of the strategy and next steps within the market.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Collective effort to increase disclosure in carbon emissions by companies.

Advance user of CDP data and supporter of CDP research and events.

 

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Collective effort to increase disclosure in exposure to forestry.

In 2017 a member of the team joined the panel at the launch of the Global Forests Report

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Collective effort to increase disclosure in exposure to water use.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

In the USA, we use CII's network and conference opportunities to advance corporate governance progress and engage with policymakers and the public about corporate governance, shareholder rights and related investment issues.

LGIM gave direct feedback to the CII on the Index Providers consultations on one share one vote which was then distributed to all members in order to assist in their consultation responses.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

See property section for details on our involvement

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We are involved in various inititiaves in relation to green bonds, including being a signatory to the Paris Green Bond Statement and the

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGIM’s Head of Sustainability & Responsible Investment Strategy was elected to the Board of IIGCC.  LIGM is a member of the Property, Policy and Risk workstreams, and actively participate and endorse IIGCC-led messages to the regulators in the UK and Europe.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We are an active member of ICGN and attend many of their conferences and engage with key thematic discussions

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

LGIM continue to source UNGC third party analysis in order to increase our ability to monitor and engage with companies in violation of UNGC Principles.

As of October 2012, Legal & General became a UN Global Compact Signatory to recognise the increasing contribution and footprint of its overseas businesses.  We also joined investor-led initiatives to encourage more companies to sign up to the UN Global Compact. 

          30% Club
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

The 30% Club is a group of Chairmen and CEOs of organisations committed to bringing more women onto UK corporate boards. Its members have declared their voluntary support for the 30% goal and are taking action to achieve it.  In 2017, LGIM’s Head of Corporate Governance North America was appointed to the Steering Committee.

As a member of the 30% Club Investor Group, we actively engage with companies to encourage them to develop polices to improve diversity on boards.  In 2017, LGIM’s Head of Corporate Governance North America was appointed as Co-Chair of the Investor Group.


SG 09.2. Assets managed by PRI signatories (Not Applicable)


SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description

          Trustee Education Seminars on ESG
Stakeholder Roundtable sessions for clients and other stakeholders on ESG.
Chairman breakfasts on diversity
        

Frequency of contribution

Description

          Co-sponsored by LGIM, work done by Carbon Tracker and PRI, the first report to rank 69 of the biggest oil and gas industry companies according to the extent of their exposure to the low-carbon transition. http://2degreeseparation.com/
        

Frequency of contribution

Description

          Responded to various consultations to encourage better ESG practices and transparency.
Promoted enhanced industry disclosure at the industry initiatives and associations we participate. 
See answers to section SG11.4.
        

Frequency of contribution

Description

          LGIM team members spoke at 28 public events in 2017.  Subjects covered included: Taking Green Finance Global; the role of the SID; Stranded assets; Tax; Deforestation; low carbon indices; Adding value to equity investment
        

Frequency of contribution

Description

          A publication on Board-Investor dialogue which is available on our website:
http://www.lgim.com/files/_document-library/capabilities/lgim-guide-to-board-investor-dialogue.pdf
        

Frequency of contribution

Description

          LGIM regularly speaks at events advocating the principles of the PRI. LGIM reports its PRI outcomes to clients - to encourage them to use PRI.
        

Frequency of contribution

Description

          TCFD, FSB.
        

Frequency of contribution

Description

          Contribution to the Missing 55 report on climate change shareholder resolutions published by Preventable Surprises.  . 
Contribution to an article on voting against remuneration in the US for Proxy Insight.
Co-wrote op-ed with other investors on climate policy in Alberta
        

Frequency of contribution

Description

          Deforestation advisory committee and working group, Cyber, Credit Ratings Agencies and SDGs and Active Ownership.
        

Frequency of contribution

Description

          LGIM’s Head of Sustainability and Responsible Investment Strategy sits on the board of the IIGCC. Director of Corporate Governance sits on board of the Investor Forum.
        

Frequency of contribution

specify description

          UK Government's Green Finance Task Force.
        

Description

          LGIM's CEO and Head of Sustainability & Responsible Investment Strategy sit on the UK Government's Green Finance Task Force.
        

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]

We regularly carry out Trustee Education Seminars which include information on our ESG activity. We produce spotlight research papers. Members of the team have spoken at a number of conferences to promote responsible investment on topics such as ESG integration, green finance, the role of the SID, deforestation and stranded assets.

We are also creating videos and shorter communication tools to reach out to the end members of pension schemes and other investors.

http://www.lgim.com/uk/en/insights/videos-and-webinars/

http://update.lgim.com/active-owner

 


SG 11. Dialogue with public policy makers or standard setters (Private)


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