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British Columbia Investment Management Corporation

PRI reporting framework 2019

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Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

Each year, our Executive Management Team and Board of Directors are briefed on the results of our PRI Assessment Survey. We conduct a detailed gap analysis of our results, and if significant gaps exist, decisions are then contemplated to address said gaps.


SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          The aim is to enhance corporate wide awareness of BCI's principles and activities. This is tracked through the views of articles and pages.
        

Progress achieved

Part of BCI's internal communication strategy includes a responsible investing series published on its intranet. Topics communicated to staff during 2018 included new committee memberships (engagement and advisory related), the release of BCI's Climate Action Plan and Approach to the TCFD Recommendations, results of BCI's 2018 PRI Assessment, and reports (PRI and organizations) that mention BCI's responsible investing initiatives.

A dedicated section provides an overview of BCI's approach, principles, and access to available documents. The section is regularly updated with relevant information and articles communicating BCI's responsible investing activities.

BCI also airs a video communicating our beliefs, expectations, and approach to responsible investing. This video is integrated into a staff training module; incorporated into our employee intranet; published on our public website, and, where appropriate, used for conference presentations, seminars, and client meetings.

Key performance indicator

          Public Equities: tracked/monitored number of companies engaged and developed engagement KPIs.
        

Progress achieved

Public Equities: directly engaged with 299 companies and collaboratively engaged with 392 companies; sourced data and collected results to communicate KPIs with clients. In 2018, we also expanded our proxy voting to cover all global holdings where practical. BCI adopted a custom voting policy, providing the capacity to significantly increase our voting activities.

Financial performance of investments

ESG characteristics of investments

Other activities

Key performance indicator

          Contributing to promoting responsible investing within the industry.
        

Progress achieved

BCI addressed and moderated 20 events on responsible investing -- topics included the transition to a low carbon economy; sustainability disclosures with companies; board diversity; ESG integration; cyber security; best practices in shareholder engagement; climate change; and responsible investing trends. Events were held in Canada and the U.S.

06.2. Additional information.


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