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Resolution Capital Limited

PRI reporting framework 2019

You are in Direct - Listed Equity Active Ownership » Engagement

Engagement

LEA 02. Reasoning for interaction on ESG issues

Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual / Internal staff engagements
Collaborative engagements
Service provider engagements

02.4. Additional information. [Optional]

Our engagement initiatives are designed to optimise our ability to affect outcomes and enhance our investment decision-making. More specifically, the approach is premised on the following:

  • The Portfolio Managers (PM’s) drive the engagement agenda. The PM’s determine the engagement priorities and work with the investment analysts in preparing and executing engagement initiatives.
  • We generally meet with the management of prospective investee companies before an initial investment is made. The Environmental, Social and Governance (ESG) related engagement at these meetings tends to focus on Corporate Governance and includes, but is not limited to, better understanding a company’s Governance policies, including Board function, Board composition and remuneration policies, exploring optimal capital structures, and understanding the motivations of majority shareholders. Furthermore, we observe the importance management places on ESG factors. Subsequent meetings provide a forum to discuss, amongst other things, the ESG performance of the company, and advocate further improvement in their ESG performance and disclosure, where relevant.
  • We may meet with the Chairperson and other non-executive Board members. This provides a further opportunity to discuss the company’s Governance Policies, including Board function, Board composition, remuneration policies (magnitude, metrics and hurdles) and subcommittee performance.
  • In addition to our meetings with management and Chairpersons, we conduct engagement meetings (either in person or by phone) with ESG specialists within prospective and portfolio companies. This is a further forum to engage on ESG performance, and where relevant advocate further improvement in their ESG performance and disclosure.
  • RCL will engage with investee companies who rate relatively poorly on ESG related issues.
  • Our engagement activities also include our participation in collaborative initiatives including, Asian Corporate Governance Association.
  • We also report on our engagement activities to stakeholders, through our quarterly reports and marketing presentations.

LEA 03. Process for identifying and prioritising engagement activities

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

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagements.

Indicate the criteria used to identify and prioritise engagements for each type of engagement.
Type of engagement
Criteria used to identify/prioritise engagements
Individual / Internal engagements

Internal / Individual engagements

Collaborative engagements

Collaborative engagements

03.3. Additional information. [Optional]

The Portfolio Managers drive the engagement agenda as they determine the engagement priorities and work with the investment analysts in preparing and executing engagement initiatives.

RCL will engage with investee companies who rate relatively poorly on ESG related issues. 


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Indicate whether you define specific objectives for your organisation’s engagement activities.
Individual / Internal engagements
Collaborative engagements

04.2. Additional information. [Optional]


LEA 05. Process for identifying and prioritising collaborative engagement

Indicate if you monitor and/or review engagement outcomes.
Individual / Internal engagements
Collaborative engagements
Indicate if you do any of the following to monitor and review the progress of engagement activities.
Individual / Internal staff engagements

05.3. Additional information [Optional]


LEA 06. Role in engagement process

06.1. Indicate whether your organisation has an escalation strategy when engagements are unsuccessful.

06.2. Indicate the escalation strategies used at your organisation following unsuccessful engagements.

06.3. Additional information. [Optional]

If our engagement is unsuccessful, we might vote against certain directors and/or reduce exposure/divest, depending on the materiality of the issue.


LEA 07. Share insights from engagements with internal/external managers

07.1. Indicate whether insights gained from your organisation's engagements are shared with investment decision-makers.

Type of engagement

Insights shared

Individual / Internal staff engagements

Collaborative engagements

07.2. Indicate the practices used to ensure information and insights collected through engagements are shared with investment decision-makers.

          Analysts are asked to research/check certain data before engagement.
        

07.3. Indicate whether insights gained from your organisation’s engagements are shared with your clients/beneficiaries.

Type of engagement

Insights shared

Individual/Internal staff engagements

Collaborative engagements

07.4. Additional information. [Optional]

We share relevant insights from our engagements externally through our quarterly reporting. 


LEA 08. Tracking number of engagements

08.1. Indicate if you track the number of your engagement activities.

Type of engagement
Tracking engagements

Individual / Internal staff engagements

Collaborative engagements

08.2. Additional information. [OPTIONAL]


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