Our Board of Directors is briefed on our PRI Assessment results each year as is our Executive Management Team so they are aware of our results and if action is required in areas of concern. The Board is informed and receives all RI materials and updates.
Portfolio Managers and Analysts are responsible for integrating responsible investing into their practices, procedures, and responsibilities during due diligence and ongoing asset management. In the Public Markets department, analysts are assigned to companies and are responsible for monitoring and jointly assigning ESG scores.
Dedicated RI staff in the Public Markets department are responsible for assessing and voting all proxies, engaging with companies, leading and/or participating in collaborative engagements, as well as preparing submissions to regulators and public policy bodies. RI staff are responsible for ESG evaluations of portfolio companies, and sharing the results with portfolio managers and analysts with whom ESG scores are assigned.
Dedicated ESG Manager in the Investment Strategy & Risk department is responsible for the assessment and management of ESG risks and opportunities at the total fund level. This will include the ongoing monitoring and management of material climate change related risks and opportunities across all investments.
External Managers: Prior to committing clients’ funds to a new fund manager, we analyze and assess how they incorporate ESG factors into their processes. During the due diligence phase, BCI will review and question the internal policies and steps taken to address, manage and mitigate material ESG risks. Our assessment includes the manager’s track record with managing environmental risks, governance practices, compliance with applicable laws and regulations, as well as their overall approach to responsible investing. ILPA’s Private Equity Principles informed the development of a checklist for fund investments, which is incorporated into our standard operating procedures and each fund investment memorandum. Once invested, we regularly promote our responsible investing principles and expect each fund manager to acknowledge their understanding of BCI’s approach and beliefs. We also monitor the agreements, treaties and international standards that fund managers may or may not endorse.
Our Communication group is accountable for the communication to clients and the public in accordance with the approved responsible investing communication strategy. The group is also accountable for informing staff of responsible investing initiatives and activities. They liaise with organizations and parties on RI initiatives that are publicly announced.