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ERAFP - Etablissement de Retraite Additionnelle de la Fonction Publique Pension Scheme

PRI reporting framework 2020

You are in Direct - Listed Equity Active Ownership » Engagement

Engagement

LEA 02. Reasoning for interaction on ESG issues

Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual / Internal staff engagements
Collaborative engagements
Service provider engagements

02.4. Additional information. [Optional]

We do not engage via service providers because we are an active asset owner that has its own engagement policy applied directly or via our asset managers


LEA 03. Process for identifying and prioritising engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagements.

Indicate the criteria used to identify and prioritise engagements for each type of engagement.
Type of engagement
Criteria used to identify/prioritise engagements
Individual / Internal staff engagements

Individual / Internal staff engagements

specify

          The main themes and sectors to be targeted are defined in collaboration with our Board of trustees
        
Collaborative engagements

Collaborative engagements

specify

          The main themes to be targeted are defined in collaboration with our Board of trustees
        

03.3. Additional information. [Optional]

Then, for collaborative engagement, the selection of individual companies to be targeted is made internally based on an analysis that include the following criteria: 

- Size of ERAFP holdings and duration of ownership

- Location of Headquarters (we will consider having more influence with French and European companies)

- ESG ratings and ranking of the company within its sector over the past years

- Existence of controversies related to the engagement theme and level of responsiveness

- the materiality of the engagement regarding the company's ESG issues


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Indicate whether you define specific objectives for your organisation’s engagement activities.
Individual / Internal staff engagements
Collaborative engagements

04.2. Additional information. [Optional]

For all ERAFP's engagements, objectives and timelines are defined. ERAFP monitors and reports on progress made by companies but also tries to give them some guidelines to achieve those objectives.


LEA 05. Process for identifying and prioritising collaborative engagement

Indicate whether you monitor and/or review engagement outcomes.
Individual / Internal staff engagements
Collaborative engagements
Indicate whether you do any of the following to monitor and/or review the progress of engagement activities.
Individual / Internal staff engagements
Collaborative engagements

05.3. Additional information. [Optional]

For Indidividual as for collaborative engagements cases, we define timelines, monitor progress against objectives/KPI's, monitor the progress of actions taken and revise objectives or action plans when it's necessary 


LEA 06. Role in engagement process

06.1. Indicate whether your organisation has an escalation strategy when engagements are unsuccessful.

06.2. Indicate the escalation strategies used at your organisation following unsuccessful engagements.

06.3. Additional information. [Optional]

Through its investment policy, ERAFP aims to encourage issuers to respect international environmental, social (human rights and labour law) and governance standards. ERAFP's mandated investment managers may, after applying a shareholder engagement approach, exclude certain issuers from their portfolios in the case of breaches of certain international standards or non-compliance with environmental or socially responsible principles. In such cases a call for standard exclusion is made. The right the Scheme reserves to apply, in the case of the failure of shareholder engagement approaches, a standard exclusion is designed to protect ERAFP's reputation as a socially responsible investor.
The dialogue is initiated by the ERAFP delegated manager concerned by the investment or by ERAFP itself in the case of a direct investment. The securities of a company with which discussions have been initiated following a proven breach of international standards may be kept in the portfolio for as long as a shareholder engagement initiative targeting the controversy identified is in progress. If shareholder engagement measures are not enough to ensure that the company responds adequately to the issues raised or is in the process of responding, other actions will be considered:

- intense dialogue through the delegated manager in the context of preparing its vote at the general meeting of shareholders;

- any other means that protect ERAFP's interests;

- lastly, sale of the securities by the delegated manager.

ERAFP could also participate to the issue of a public statement, encourage its asset managers to file a shareholder resolution, vote against re-election of the relevant directors or vote against other relevant resolutions


LEA 07. Share insights from engagements with internal/external managers

07.1. Indicate whether insights gained from your organisation`s engagements are shared with investment decision-makers.

Type of engagement

Insights shared

Individual / Internal staff engagements

Collaborative engagements

07.2. Indicate the practices used to ensure that information and insights gained through engagements are shared with investment decision-makers.

07.3. Indicate whether insights gained from your organisation’s engagements are shared with your clients/beneficiaries.

Type of engagement

Insights shared

Individual/Internal staff engagements

Collaborative engagements

07.4. Additional information. [Optional]

Insights gained from our engagements is used for discussions with asset managers on the related issues and to monitor their investment decisions. 

We also share insights gained from ERAFP engagements with our beneficiaries via our annual report, occasional publications and our board 


LEA 08. Tracking number of engagements

08.1. Indicate whether you track the number of your engagement activities.

Type of engagement
Tracking engagements
Individual/Internal staff engagements​

Collaborative engagements

08.2. Additional information. [Optional]

We track the number of our engagements on a regular basis. Every quarter, we report on ERAFP's engagement activities to our board. We present each engagement objectives and latest actions.

We also track our asset managers' engagement activities and report on it.


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