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AP3

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 (Private)


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
          Integration of ESG in PE
        
Conducted by
Asset class
Scope and process

New investment where there were some question marks regarding governance (key persons).

The staff responsible for the selection went back to the manager with additional questions to make clear what had happened and how the issue was solved.

Outcomes

The outcome of the additional questions and answers given cleared the issues and the manager was approved.

Topic or issue
          ESG process in connection with investing in EM
        
Conducted by
Asset class
Scope and process

The aim is to make sure that ESG risks that could be more frequent and or extensive in Emerging markets are addressed and thoroughly  examined and evaluated for example corp goverance issues, reatment of minorities, board composition, independence etc, work conditions and pay, enviromental issues,  emissons, CO2, energy use, etc. Corruption risk is always on the list.The aim is to make as certian as possible that the processes cover material ESG issues.

Outcomes

One investment decison done and another possibly underway.

Topic or issue
          Holdings in  listed EM portfolio
        
Conducted by
Asset class
Scope and process

Discusions with the managers about the rationales behind certain holdings in the portfolios that  AP3 consider as real potential risks from an ESG perspective.

Outcomes

Different outcomes holdings kept and kept but reduced exposure.

AP3 continues the  evaluation process and might  consider changes.

09.2. Additional information.


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