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MN

PRI reporting framework 2019

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You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories

08.1. Describe how you ensure that best RI practice is applied to managing your assets

Measures

          We have a process that ensures yearly reviews, also on the basis of MN's ESG questionnaire that external managers have to respond to. On the basis of this review, the Planet score for managers is set every year. MN does this minimally once per year, but preferably twice. In these meetings, ESG is an important issue and we discuss the steps that managers could or should take to improve their RI practice.
For property, we engage with managers on their GRESB-scores and work with them towards a minimum score of three stars.
        

Measures

          For Fixed income and Equities: In case of insufficient progress of the manager on RI practices after a set time line, which may differ per client, the ultimate sanction is to fire the manager and move assets to another manager.
        

08.2. Additional information. [Optional]


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          GRESB score
        
Conducted by
Asset class
Scope and process

We have worked with a manager to develop a roadmap towards an improvement of their GRESB-score; these implied specific measure to implement in order to improve the score.

Outcomes

The roadmap is currently being implemented

Topic or issue
          ESG integration
        
Conducted by
Asset class
Scope and process

We asked all managers to provide with more specific examples on ESG integration in their investment process on a quarterly basis.

Outcomes

We receive specific examples on ESG integration from several managers on a quarterly basis

Topic or issue
          Exclusion
        
Conducted by
Asset class
Scope and process

In our manager review meeting with an high yield manager we noticed that the carbon footprint of the portfolio was significantly below the benchmark. This was because the manager actively had decided not to invest in an utility company which generates around 50% of its power from coal.

Outcomes

In our manager review meeting with an high yield manager we noticed that the carbon footprint of the portfolio was significantly below the benchmark. This was because the manager actively had decided not to invest in an utility company which generates around 50% of its power from coal.

Topic or issue
          ESG integration
        
Conducted by
Asset class
Scope and process

During our monitoring meeting with a manager they explained that based on positive ESG attributes they invested in a very energy efficient steel company (LEEDS certified ie leadership in energy and environmental design) which can also use recycled scrap steel hence significantly reducing energy consumption.

Outcomes

During our monitoring meeting with a manager they explained that based on positive ESG attributes they invested in a very energy efficient steel company (LEEDS certified ie leadership in energy and environmental design) which can also use recycled scrap steel hence significantly reducing energy consumption.

Topic or issue
          ESG Integration
        
Conducted by
Asset class
Scope and process

Every manager is scored with a planet score, consisting of 5 parts

Outcomes

Every manager receives a planet score: green, yellow or red. Yellow managers are monitored more closely; red scoring managers need to make an improvement plan, and can be fired as an altimate consequences if the Planet-score does not improve.

09.2. Additional information.


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