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Veritas Asset Management LLP

PRI reporting framework 2019

You are in Strategy and Governance » Promoting responsible investment

Promoting responsible investment

SG 09. Collaborative organisations / initiatives

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

          Association of Member Nominated Trustees (AMNT) - Red Line Voting
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We believe the philosophy behind the ESG Red Lines that the AMNT have developed, in principal make sense.  Pooled fund investors have little control over the direction of voting or expressing a view on ESG. Adoption, however has been poor by fund managers, as the Red Lines lines themselves are seen as too inflexible. This is undoubtedly true, and we would add that for global equity managers, their application to UK stocks only is a significant shortcoming. As a result, we have signed up Institutional Shareholder Services (ISS) to apply a customised screen whereby the red lines are applied (where relevant) globally. We will continue to engage with AMNT to further improve the Red Lines. Whilst we have not signed up directly to CDP or the UN Global Compact, both are embodied in the ESG Red Lines.

          Sustainability and responsible investment committee (UK - Investment Association)
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

The Committee has a broad objective to consider and lead on all issues affecting the Investment Association’s (the “IA”) member firms in the area of sustainability and responsible investment.  VAM LLP attends quarterly committee meetings and provides our thoughts where relevant.


SG 09.2. Assets managed by PRI signatories (Not Applicable)


SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description

          Sustainability and responsible investment committee (UK - Investment Association)

The Committee has a broad objective to consider and lead on all issues affecting the Investment Association's (the "IA") member firms in the area of sustainability and responsible investment. Veritas attends quarterly committee meetings and provides our thoughts where relevant.
        

Frequency of contribution

specify description

          Voting Policy Adoption
        

Description

          We engaged with the The Association of Member Nominated Trustees (AMNT) regarding the Red Line Voting Policy.
        

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]


SG 11. Dialogue with public policy makers or standard setters

11.1. Indicate if your organisation - individually or in collaboration with others - conducted dialogue with public policy makers or regulators in support of responsible investment in the reporting year.

If yes

11.2. Select the methods you have used.

specify description

          Sustainability and responsible investment committee (UK - Investment Association)
        

11.3. Where you have made written submissions (individually or collaboratively) to governments and regulatory authorities, indicate if these are publicly available.

11.4. Provide a brief description of the main topics your organisation has engaged with public policy-makers or regulators on.

In collaboration with other asset managers on behalf on the UK Investment Association. We provide our thoughts on the development of standards around ESG e.g. for the European Commission's taxonomy on sustainable finance.


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