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Alliance Bernstein

PRI reporting framework 2019

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Promoting responsible investment

SG 09. Collaborative organisations / initiatives

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our Head of Responsible Investment was on the PRI's Reporting and Assessment Advisory Committee until November 2017, when she became a member of the Regulatory and Policy Committee. One of our fixed income portfolio managers was on the Fixed Income Integration committee. We attended a variety of PRI-sponsored events throughout the year, including our Head of Responsible Investment attending the PRI annual conference.

 

 

 

 

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We became an investor signatory in 2015 and participate in thought leadership events.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We are an Educational Sustainer member of the CII. We attend their meetings and participate in teleconferences on proxy-related issues and share our insights. We have had representation on the Corporate Governance Advisory Council for the past four years, and a member of our governance team will continue to participate. The Head of Responsible Investment has been a panelist.  

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

AB was a sponsor and the CIO of our sustainable thematic strategies was a featured panelist at their October 2018 conference. 

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We are a member of ICGN and attend their conferences. In October 2017, our Head of Responsible Investment was appointed to ICGN's Board Governance Committee and moderated a panel at their annual conference in 2018.

 

          US SIF
        

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

US SIF: We attend the US SIF Conferences and we review the reports from the various SIF organizations.

 

          SASB
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our Head of Responsible Investment passed the FSA Level 1 exam administered by SASB. We reference the work done by SASB in building out our own reference documents for our analysts. We maintain an open dialogue with SASB regarding the evolution of its disclosure standards. 

          Japan "PRI” (Principles for Financial Action for the 21st Century)
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We are a member of the working group on Asset Management, Securities, and Investment Banks.

          Climate Bond Initiative
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

AB is a partner of the Climate Bond Initiative (CBI). Early in 2018, AB hosted the first in a series of four global CBI-sponsored Green Bond Boot Camps in our New York office. AB was the only U- based host in the series (other location events were scheduled in Sydney, Copenhagen and Paris). The CBI’s Green Bond Boot Camp was an immersive learning experience for finance sector professionals who wished to be part of the growing green bond market. The two-day event encompassed five learning modules as well as green bond case studies and stories from market professionals to provide a valuable starting point for new market participants. The objective of the Camp was to help prepare the growing number of new and ambitious green bond market participants to play a role in scaling up financing of low carbon, climate resilient assets and infrastructure. In addition to AB hosting the event, members of AB’s Responsible Investment Committee, portfolio managers and analysts provided perspective on managing and trading green bonds during training sessions. AB also supports the CBI via our annual fees.

          Catalytic Financing Initiative
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

AB is a partner of the Catalytic Finance Initiative (CFI). The CFI is a group of leading global financial institutions—investment banks, asset managers, multilateral banks, and other organizations—that have committed to deploy $8 billion to high-impact sustainable investments over the coming years.  


SG 09.2. Assets managed by PRI signatories

Indicate approximately what percentage (+/- 5%) of your externally managed assets under management are managed by PRI signatories.

95 %

SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description

          We hosted more than 10 educational events in 2018, on topics such as: ESG investing, green bonds, sustainability, climate-related investment risks and opioid abuse.
        

Frequency of contribution

Description

          We have been in discussions with a leading academic institution for (1) developing climate education and (2) conducting research on social impacts in emerging markets.
        

Frequency of contribution

Description

          We encourage better transparency through our company engagement and proxy voting activities.
        

Frequency of contribution

Description

          We often speak at industry events. In 2018, portfolio managers and other AB representatives participated on panels or as speakers at more than 20 industry events. Below is a selection of events where we were panelists or speakers: 

- October 2018: BNP Paribas Sustainable Future Forum
- October 2018: Global Fund Forum - “Doing Good & Doing Well with Responsible Investing” 
- July 2018: Societe Generale Asian Sustainable & Positive Impact Finance Conference
- June 2018: Citi SMA Conference on Sustainable Investing 
- May 2018: BNY Mellon’s Signature Leadership Forum 
- April 2018: IMN Green Bond Investor Conference 
- March 2018: Howard University Seminar – Impact Investing  
- February 2018: CFA Society - Sustainable Investing Committee
        

Frequency of contribution

Description

          We have published a number of blogs related to responsible investment. Some
examples of these blogs are listed below and can be found on our company website: 

•	September 2018: Responsible Investors Should Focus on ESG “Offenders”
•	March 2018: Active Managers Engagement 
•	February 2018: Setting the Standard: Managers Lift their Game
        

Frequency of contribution

Description

          We are active members on the ICI Global ESG Task Force. We have engaged with local stock exchanges on a variety of governance-related issues. We have provided feedback to the FRC on the UK Stewardship Code.
        

Frequency of contribution

Description

          PRI Policy and Regulatory Committee
        

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]


SG 11. Dialogue with public policy makers or standard setters

11.1. Indicate if your organisation - individually or in collaboration with others - conducted dialogue with public policy makers or regulators in support of responsible investment in the reporting year.

If yes

11.2. Select the methods you have used.

11.3. Where you have made written submissions (individually or collaboratively) to governments and regulatory authorities, indicate if these are publicly available.

11.4. Provide a brief description of the main topics your organisation has engaged with public policy-makers or regulators on.

We have engaged with public policy makers or regulators on a variety of issues:

  • November 2018: Head of Responsible Investment participated in the FRC Financial Reporting Lab project on workforce disclosure issues
  • September 2018: analyst met with World Bank on Mexico City water challenges
  • April  2018: analyst met with US regulators (white house representatives, FTC, FCC) on internet company data privacy and potential regulatory framework

  • January 2018: analyst met with Chinese regulators at Deutsche Bank Investor Summit to understand China’s environmental policies and goals


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