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British Columbia Investment Management Corporation

PRI reporting framework 2019

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Post-investment (monitoring and active ownership)

Overview

INF 11. ESG issues in post-investment activities

11.1. Indicate whether your organisation and/or operators consider ESG issues in post-investment activities relating to your infrastructure assets.

11.2. Indicate how your organisation, and/or operators, considers ESG issues in the following post-investment activities relating to your infrastructure assets.

          See INF 11.3  BCI's team monitors certain ESG KPIs on a quarterly basis and interacts with our investee companies on ESG issues.
        

11.3. Describe how your organisation, and/or operators, considers ESG issues in post-investment activities related to your infrastructure investments. [Optional]

BCI invests in stand-alone companies with internalised operations teams.  ESG policies are therefore established and enforced at the Board level. BCI generally seeks to make investments material enough to occupy a Board seat. We expect our companies to exhibit good corporate social responsibility, and expect management teams to foster a culture of engaging with the communities they operate in. Management teams provide status reports detailing ESG issues to the Board and directly to shareholders as part of standard reporting requirements. Sub-committees are established to address ESG issues as required.


Infrastructure Monitoring and Operations

INF 12. Proportion of assets with ESG performance targets

12.1. Indicate the proportion of infrastructure assets for which your organisation and/or operators included ESG performance in investment monitoring during the reporting year.

 (in terms of number of infrastructure assets)

12.2. Indicate ESG issues for which your organisation, and/or operators, typically sets and monitors targets (KPIs or similar) and provide examples per issue.

List up to three example targets per issue

          BCI monitors environmental regulatory compliance and serious and pending reputational incidents against targets established by management, their respective boards and where applicable, the regulatory authorities.
        
          
        
          
        

List up to three example targets per issue

          BCI monitors safety KPIs such as lost time incidents, total recordable injury rates and serious incidents and fatalities against mgmt/board targets.
        
          
        
          
        

List up to three example targets per issue

          BCI periodically reviews the governance arrangements in its investment policies and investee boards to ensure compliance with best practices such as board composition.
        
          
        
          
        

12.3. Additional information. [Optional]


INF 13. Proportion of portfolio companies with ESG/sustainability policy

13.1. Indicate whether you track the proportion of your infrastructure investees that have an ESG/sustainability-related policy (or similar guidelines).


INF 14. Type and frequency of reports received from investees

14.1. Indicate the type and frequency of reports you request and/or receive from infrastructure investees covering ESG issues.

Type of Reporting

Typical reporting frequency

14.2. Additional information.


Infrastructure Maintenance

INF 15. Proportion of maintenance projects where ESG issues were considered

15.1. Indicate the proportion of active infrastructure maintenance projects where ESG issues have been considered.

(in terms of number of active maintenance projects)

15.2. Describe your approach to ESG considerations for infrastructure maintenance projects. [Optional]


Stakeholder engagement

INF 16. Proportion of stakeholders that were engaged with on ESG issues

16.1. Indicate which stakeholders your organisation, and/or operators, engaged with on ESG issues in relation to your infrastructure assets during the reporting year and what proportion of your investments they apply to.

Stakeholders engaged

Percentage of infrastructure assets these apply to

 (in terms of number of infrastructure assets)

Percentage of infrastructure assets these apply to

 (in terms of number of infrastructure assets)

          Other shareholders and employees
        

Percentage of infrastructure assets these apply to

 (in terms of number of infrastructure assets)

16.2. Describe your approach to stakeholder engagements in relation to your infrastructure assets.

During the year, BCI provided stakeholder training to our team.  We are formalizing our stakeholder engagement framework this upcoming fiscal year. This will assess all stakeholders on each of our direct holdings at each stage of the investment lifecycle and will identify strategies with key stakeholders as necessary.

We consider stakeholders on issues as they arise and encourage management teams to be proactive.


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