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British Columbia Investment Management Corporation

PRI reporting framework 2019

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Asset class implementation gateway indicators

OO 10. Active ownership practices for listed assets

10.1. Select the active ownership activities your organisation implemented in the reporting year.

Listed equity – engagement

Listed equity – voting

Fixed income SSA – engagement

Please explain why you do not engage directly and do not require external managers to engage with companies on ESG factors.

          Generally, we do not engage with governments when we are participating in sovereign debt issuances.
        

Fixed income Corporate (financial) – engagement

Please explain why you do not engage directly and do not require external managers to engage with companies on ESG factors.

          For the 2018 reporting year, we did not have resources dedicated to ESG engagement with corporate bond issuers.
        

Fixed income Corporate (non-financial) – engagement

Please explain why you do not engage directly and do not require external managers to engage with companies on ESG factors.

          For the 2018 reporting year, we did not have resources dedicated to ESG engagement with corporate bond issuers.
        

OO 11. ESG incorporation practices for all assets

11.1. Select the internally managed asset classes in which you addressed ESG incorporation into your investment decisions and/or your active ownership practices (during the reporting year).

Listed equity

Fixed income - SSA

Fixed income - corporate (financial)

Fixed income - corporate (non-financial)

Private equity

Property

Infrastructure

Forestry

Farmland

Cash

Money market instruments

Select the externally managed assets classes in which you and/or your investment consultants address ESG incorporation in your external manager selection, appointment and/or monitoring processes.
Asset class
ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes
Listed equity

Listed equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (non-financial)

Fixed income - corporate (non-financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Private equity

Private equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Property

Property - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Infrastructure

Infrastructure - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Forestry

Forestry - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Farmland

Farmland - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

11.4. Provide a brief description of how your organisation includes responsible investment considerations in your investment manager selection, appointment and monitoring processes.

Listed Equities:  Our focus is mainly on the selection and monitoring of the external managers we hire for listed equities mandates.  We collect and assess ESG information during the selection process.  We now require our external managers to provide ESG reporting on a quarterly basis and we periodically ask our managers to answer an ESG survey. This information is monitored closely, and we track our managers' progress in implementing responsible investing practices.

Private Equity: Our focus is on the selection process and monitoring of external managers.  ESG criteria is included in our manager evaluation.

Infrastructure & Renewable Resources: Our focus is on the selection process and monitoring of external managers.  ESG criteria is included in our manager evaluation.

Property:  Our goal is to have, where possible, all properties be environmentally friendly, energy efficient, barrier free, tenant friendly, and to have both design and function that are compatible with community standards. Our environmental policy for real estate investments is committed to taking all practical and reasonable steps to protect the environment and to be fully compliant with all applicable environmental laws. We created QuadReal Property Group in 2016 to manage our real estate assets and properties. BCI has 100 per cent ownership and maintains strategic oversight of QuadReal. We expect them to continue our commitment to responsible property investing. They are required to adopt policies and implement procedures in all material aspects to generally comply with best practices, to carry on ethical business conduct and to promote fair dealing, including, without limitation, with respect to governance, social and environmental activities.


OO 12. Modules and sections required to complete

12.1. Below are all applicable modules or sections you may report on. Those which are mandatory to report (asset classes representing 10% or more of your AUM) are already ticked and read-only. Those which are voluntary to report on can be opted into by ticking the box.

Core modules

RI implementation directly or via service providers

Direct - Listed Equity incorporation

Direct - Listed Equity active ownership

Direct - Fixed Income

Direct - Other asset classes with dedicated modules

RI implementation via external managers

Indirect - Selection, Appointment and Monitoring of External Managers

Closing module

12.2. Additional information. [Optional]


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