Responsible investing is a core component of Pendal Australia's strategic vision. A key objective of our five-year plan is to be a leading provider of ethical, sustainable and impact solutions for our clients as well as to embed ESG as part of our investment process in our existing investment boutiques. This stems from a commitment from the Board and our Global CEO. Pendal has a RI Philosophy and Approach document that was launched in December 2017 and is available to the public on our website. We believe there are important responsible investment principles that can be applied across all of our investment boutiques, providing guidance to our investment teams. The document has been approved by the Pendal Australian Management Team and is reviewed annually or more frequently if required.
As part of our annual employee and business review process, key stakeholders driving our RI activities set key objectives in consultation with the CEO and senior management. Our Board also conducts an annual Strategy Review discussion.
In addition, we also have a Responsible Investments Working Group to facilitate knowledge sharing and provide input into RI guidelines, strategy and solutions. The group consists of senior members of the investments (all asset classes) and corporate teams (Risk & Compliance, Legal, Sales and Marketing) and its responsibilities are set out in the Responsible Investments Governance Structure. The objective of the group is to oversee the development and application of Pendal's Responsible Investment (RI) process across offerings and communications to ensure alignment with Pendal's RI philosophy as well as client expectations and needs. The group does not replace prior risk management and compliance processes, rather it serves to enhance the existing controls already in place. Our RI Working Group meets quarterly. The group sets high level annual RI objectives as well as quarterly RI objectives. Specific objectives range from the development and maintenance of Pendal’s RI process and products as well as considerations of broader industry trends, standards and practices - with a particular focus on the RI needs of our clients.