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British Columbia Investment Management Corporation

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

08.1. Describe how you ensure that best RI practice is applied to managing your assets

Measures

          Through reporting, meetings and discussions,  we collect information that allows us to monitor our external managers' progress in certain areas such as degree of ESG integration, accountability, commitment of resources, ability to show performance and outcomes.  Where we perceive weaknesses in these areas, we provide suggestions on ways to address them.
        

08.2. Additional information. [Optional]


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
          Policy
        
Conducted by
Asset class
Scope and process

In 2018, BCI entered into a mandate with external managers for a new private credit portfolio. We assessed potential managers on several criteria including strength of RI policy.  One of the potential managers did not have a formal policy in place.

Outcomes

The manager put an RI policy in place before the investment management agreement was finalized.

Topic or issue
          Carbon footprinting
        
Conducted by
Asset class
Scope and process

In 2017, BCI conducted a carbon footprinting exercise for the entire public equity portfolio, including positions managed by external equity managers. The carbon footprint for each portfolio was compared to its performance benchmark. In 2018, BCI repeated this exercise, adding our corporate bond holdings.

Outcomes

The results of the carbon footprinting exercise are used to facilitate conversations on climate risk with internal and external managers.  Additionally, we disclose our portfolio carbon footprint as part of our TCFD disclosure.

09.2. Additional information.


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