Through-out half the year of 2018, we outsourced pooled engagement to a service provider, but we decided to incource this activity and come up with a process better suited to our overal strategy.
We have been working on the concept and have established a ESG Integration Council.
The ESG Integration Council is a sub-committee to our Sustainable Investment Committee with the mandate to a) Guide ESG strategy implementation, b) Evaluate ESG risk & dilemmas, c) Review and endorse ESG investment restrictions, d) Decide on collaborative engagements and e) Discuss and decide on other topics with relevance across investment management organization.
The ESG Integration Council has been created to support ESG integration into the core of our investment processes [rather than having it as a parallel process]. As ‘ESG Inside’ is about making better-informed investment decisions, addressing issues of risk and dilemmas alongside opportunities, and influencing portfolio companies through dialogue, the approach and decisions taken needs to be well anchored and strongly supported by the investment organization.
The process was finalized and approved in 2018, and the council had their first meeting in january 2019.