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British Columbia Investment Management Corporation

PRI reporting framework 2019

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You are in Strategy and Governance » Asset class implementation not reported in other modules

Asset class implementation not reported in other modules

SG 16. ESG issues for internally managed assets not reported in framework

Describe how you address ESG issues for internally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Forestry

We apply similar processes for this specific asset class as we do for our Infrastructure and Private Equity asset classes.

Our direct investments represent approximately 98 per cent of our Forestry AUM.  Our Canadian investments are all certified to the Sustainable Forestry Initiative (SFI), ISO 14001 and PEFC Chain of Custody standards. Our Latin American investment is certified by the PEFC and a national forest certification system called Uruguayan Forest Certification Regime (“UFCR”), a program endorsed by PEFC.

Farmland

We apply similar processes for this specific asset class as we do for our Infrastructure and Private Equity asset classes.

Money market instruments

We apply similar processes as we do for our Fixed Income asset class.

16.2. Additional information [Optional].


SG 17. ESG issues for externally managed assets not reported in framework

17.1. Describe how you address ESG issues for externally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Forestry

We apply similar processes for this specific asset class as we do for our Infrastructure and Private Equity asset classes.  Our external managers provide BCI with quarterly updates on the operations and activities of the investee companies. These discussions provide us with a platform to reinforce our expectations while also understanding the matters at hand.  We engage with our external managers on matters that may trigger community/plan member outreach.  We also consistently communicate our responsible investing expectations to our external managers. We encourage them to align their practices with international standards.

Farmland

We apply similar processes for this specific asset class as we do for our Infrastructure and Private Equity asset classes. We communicate our responsible investing expectations to our external managers and we encourage them to align their practices with international standards. Fund managers provide BCI with quarterly updates on the activities of the fund; these discussions provide us with a platform to reinforce our expectations while also understanding the matters at hand. We also engage with fund managers in instances when we receive public inquiries.

17.2. Additional information.


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