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CCLA

PRI reporting framework 2019

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Outputs and outcomes

LEA 09. Number of companies engaged with, intensity of engagement and effort (Private)


LEA 10. Engagement methods (Private)


LEA 11. Examples of ESG engagements

11.1. Provide examples of the engagements that your organisation or your service provider carried out during the reporting year.

ESG Topic
Climate Change
Conducted by
Objectives

We recognise that the transition to a low carbon economy will be complex and take place over multiple decades. We also recognise that active ownership by investors can play a significant role in the management of climate related risk management. For this reason, we have an active climate stewardship programme.

As part of this approach, investment in companies in the most exposed sectors (such as those involved in the extraction or in the generation of electricity from ‘fossil fuels’) or where we have identified significant concerns about the management of climate related risk is subject to ongoing productive engagement. We conduct the majority of our climate engagement through the, collaborative, Climate Action 100+ Initiative. This brings together investors with assets under management in excess of $33 trillion. CCLA is actively involved in the engagement with the following companies:

- Chevron (European Lead)

- Royal Dutch Shell

- Total (Co-Lead)

- Rio Tinto (European Lead)

- Duke Energy (European Lead)

- Coca-Cola Group

- PepsiCo

- Nestle

Scope and Process

Through the engagements we have helped to drive several changes in practice. These include: Chevron's announcement to limit their own operational emissions to a level that is aligned with the Paris Agreement and the continued decarbonisation of Duke Energy's portfolio

Outcomes
ESG Topic
Other

specify

          
        
Conducted by
Objectives

Many CCLA clients require companies to meet responsibilty standards, set by the FTSE4Good index, for the responsible production and marketing of baby milk substitutes (BMS). For this reason, we engaged with Reckitt Benckiser following the acquisition of Mead Johnson Nutrition (Mead Johnson). At the point of acquisition, Mead Johnson's BMS business did not meet the FTSE4Good standards and was the worst rated on the Access to Nutrition Index. 

 

Scope and Process

The engagement included multiple letters to the Chief Executive and several, detailed, engagement meetings with specialist members of staff.

Following this process Reckitt Benckiser met the FTSE4Good standard in December 2018. Engagement is continuing on a small number of outstanding areas relating to the audit and reporting of their operations. 

Outcomes

11.2. Additional information. [Optional]


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