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Liontrust Investment Partners LLP

PRI reporting framework 2019

You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes » (C) Implementation: Integration of ESG factors

C) 実施: 統合

LEI 08. Review ESG issues while researching companies/sectors

08.1. 投資分析の一部として体系的に調査するESG要因と、この分析の影響を受けるアクティブ戦略の上場株式ポートフォリオの割合を記載してください。








08.2. 補足情報 [任意]

The Sustainable Investment team analyses how a company's ESG factors affect its valuation. For example, the team assesses relevant material factors to the business which can include pollution incidents, staff satisfaction and carbon emissions. Companies which have integrated these issues, have higher quality management and therefore, they are more likely to prosper from a business perspective.

The team uses a sustainability matrix based on product sustainability (A-E) and management quality (1-5). For product sustainability, the team assesses how a company's product or area of business helps or harms society and/or the environment. For example, an 'A' rating could be awarded to a company involved in renewable energy or education. An 'E' rating would be assigned to a firm that conflicts with the principles of sustainable development, for example, a tobacco company. For management quality, the team assesses a company's practices, policies and structure relating to its environmental impact as well as social and governance related issues. A firm with excellent practices would be graded 1, whilst one with poor management practices would be a 5. For a company to be considered for inclusion in the Sustainable Future funds, it must rank C3 or higher on the matrix.


LEI 09. Processes to ensure integration is based on robust analysis

09.1. ESG統合が徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを記載してください。

09.2. 組織の統合戦略の一環で包括的ESG調査の対象になるアクティブ運用上場株式の割合を記載してください。

09.3. ESG統合戦略に使われる第三者のESG評価が更新される頻度を示してください。

09.4. ESG統合戦略に使われる組織内調査を見直す頻度を示してください。

09.5. ポートフォリオ・マネージャーがどのようにしてESG情報を保有し、使っているのか説明してください。

          The Sustainable Investment team is fully integrated. All ESG analysis is integrated into each stock review and recorded in our database.

09.6. 補足情報 [任意]

The Sustainable Investment team integrates ESG fully into the investment process. Sustainability (ESG), business fundamentals, and valuation analysis on an investee company is conducted by the same analyst/investment manager. The Investment Managers within the team consider all three aspects of our investment process prior to buy or sell decision to ensure robust integrated approach to ESG.

The team has an independent external advisory committee which the team consults regarding its screening practices at meetings that take place three times throughout the year.

The team relies on its own considerable experience in sustainable investing to peer-review stocks through their Sustainability matrix rating at team meetings.

The team currently use Sustainalytics, ISS and Ethical Screening  to provide initial analysis of sustainability factors to help us in our ESG analysis.  We employ the services of Ethical Screening to validate a potential investment in a company as being in compliance with out publicly stated negative screening criteria.

Liontrust are in the process of engaging an external provider to provide ESG and controversy data for all investment teams. All investment teams receive data on Governance of their holdings supplied by ISS. 

Some segregated mandates managed by the other investment teams apply controversial weapons/cluster munition screens.  

LEI 10. Aspects of analysis ESG information is integrated into (Private)