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Afena Capital (Pty) Limited

PRI reporting framework 2019

You are in Direct - Listed Equity Active Ownership » Outputs and outcomes

Outputs and outcomes

LEA 09. Number of companies engaged with, intensity of engagement and effort

Indicate the proportion of companies from your listed equities portfolio with which your organisation engaged with during the reporting year.
We did not complete any engagements in the reporting year.

Number of companies engaged

(avoid double counting, see explanatory notes)

Proportion of companies engaged with, out of total listed equities portfolio

Individual / Internal staff engagements

51
60

09.2. Indicate the proportion breakdown of engagements conducted within the reporting year by the number of interactions (including interactions made on your behalf)

No. of interactions with a company
% of engagements
One interaction
2 to 3 interactions
More than 3 interactions
Total
100%

09.5. Additional information. [Optional]


LEA 10. Engagement methods

10.1. Indicate which of the following your engagement involved.

10.2. Additional information. [Optional]

Our analyst engage companies one on one. The engagements usually happening during meetings and then then via calls if issues have not been resolved. 


LEA 11. Examples of ESG engagements

11.1. Provide examples of the engagements that your organisation or your service provider carried out during the reporting year.

ESG Topic
Climate Change|Company leadership issues|Health and Safety|Water risks
Conducted by
Objectives

On 31 May 2018 we engaged with BHP Billiton executives Ms. Fiona Wild (Vice President, Climate Change and Sustainability), Mr. James Upton (Head of ESG Policy and Engagement -Group Governance) and Ms. Elisa Morniroli (Investor Relations). 

Scope and Process

Climate change and the group’s emissions targets. BHP is targeting flat emissions, in absolute terms, off the group’s 2006 levels. Thermal coal which produces the bulk of the emissions remains a key Tier 1 asset to BHP. While management has no intention to divest from these assets, they remain resolute on finding ways to reduce its carbon footprint.

Environmental impacts of its water usage. The company has also started a water stewardship program and is expected to publish a report in September 2018 highlighting its understanding of the risks and impacts surrounding this valuable resource. 

Governance concerns surrounding BHP’s handling of various sponsorships around the 2008 Beijing Olympics. The actions of the firm could have been perceived as attempts to bribe certain parties. Management acknowledged that record keeping could have been managed a lot better and has as a consequence, paid a $25m fine to the authorities related to this.

Other matters addressed in the meeting included steps to prevent future disasters like Samarco; issues related to certain components of its remuneration policies; the impacts of proposed mine closures and the risks around investing in more challenging countries like Ecuador.

 

Outcomes

11.2. Additional information. [Optional]


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