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British Columbia Investment Management Corporation

PRI reporting framework 2019

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Engagement

LEA 02. Reasoning for interaction on ESG issues

Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual / Internal staff engagements
Collaborative engagements
Service provider engagements

02.4. Additional information. [Optional]

We see it as our responsibility to talk to and at times challenge companies and market participants about their policies and activities.  We aim to provide positive influence, without placing unreasonable burdens on companies, while adhering to guidelines that reflect our clients' input.  We also believe that interacting with companies on ESG risks brings more insight to our investment decisions and that by encouraging companies to manage ESG risks we are minimizing our own investment risk in the long-term.


LEA 03. Process for identifying and prioritising engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagements.

Indicate the criteria used to identify and prioritise engagements for each type of engagement.
Type of engagement
Criteria used to identify/prioritise engagements
Individual / Internal engagements

Internal / Individual engagements

Collaborative engagements

Collaborative engagements

03.3. Additional information. [Optional]

We focus on three areas that we view as being long-term, widespread business challenges and, therefore, a natural fit for an investor with an investment horizon that stretches forward many decades, including: climate change and water, human rights, and shareholder rights, i.e. board composition, voting rights and executive compensation.  

With these broad priorities established, we can identify targets for engagement through an annual portfolio assessment, which includes a review of the ESG performance of our top holdings. In addition, while conducting proxy voting duties, we actively track companies with which we plan to follow up based on our research and voting decisions. 

Outside of proactive engagements, we also meet with companies' management and raise ESG issues.


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Indicate whether you define specific objectives for your organisation’s engagement activities.
Individual / Internal engagements
Collaborative engagements

04.2. Additional information. [Optional]

We have instituted an internal database to track engagement activity including all contacts and correspondence with a company. Using this database, we are able to track company progress.


LEA 05. Process for identifying and prioritising collaborative engagement

Indicate if you monitor and/or review engagement outcomes.
Individual / Internal engagements
Collaborative engagements
Indicate if you do any of the following to monitor and review the progress of engagement activities.
Individual / Internal staff engagements
Collaborative engagements

05.3. Additional information [Optional]

We look for policy changes and/or improvements in performance, and we utilize our internal database to track updates and/or the evaluation framework established by the PRI if it is a PRI collaboration.


LEA 06. Role in engagement process

06.1. Indicate whether your organisation has an escalation strategy when engagements are unsuccessful.

06.2. Indicate the escalation strategies used at your organisation following unsuccessful engagements.

06.3. Additional information. [Optional]


LEA 07. Share insights from engagements with internal/external managers

07.1. Indicate whether insights gained from your organisation's engagements are shared with investment decision-makers.

Type of engagement

Insights shared

Individual / Internal staff engagements

Collaborative engagements

07.2. Indicate the practices used to ensure information and insights collected through engagements are shared with investment decision-makers.

          Our engagement specialists within the Public Markets team regularly share insights and readily have informal discussions with investment teams.
        

07.3. Indicate whether insights gained from your organisation’s engagements are shared with your clients/beneficiaries.

Type of engagement

Insights shared

Individual/Internal staff engagements

Collaborative engagements

07.4. Additional information. [Optional]


LEA 08. Tracking number of engagements

08.1. Indicate if you track the number of your engagement activities.

Type of engagement
Tracking engagements

Individual / Internal staff engagements

Collaborative engagements

08.2. Additional information. [OPTIONAL]


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