The Board of Directors sets the general direction for the socially responsible investment (SRI) policy. It adopts the SRI Charter and any future updates to it. In order to validate the main features of this investment policy, it relies on the work done by the specialised committees.
A Board committee dedicated to SRI has been created in order to monitor decisions relating to ERAFP' SRI policy. This committee ensures compliance with the principles of the socially responsible investment charter and drafts any future updates that may be necessary.
Chief executive officer and investment officer (the management):
The management shall be the operational body responsible for the implementation of the investment policy, under the authority and control of the Board of Directors. It shall therefore prepare Board decisions regarding the main features the investment policy. It shall report, inform and, where necessary, alert the Board, via its committees, about the implementation of the investment policy, including its socially responsible dimension. By organising quarterly meetings with the SRI Board Committee, the management assists Directors in their work to adjust, enhance and monitor ERAFP's SRI policy.
External managers or service providers, Portfolio managers:
External managers are investment companies which are mandated by ERAFP to make investments in accordance with its SRI Charter. They have the duty to inform and alert ERAFP about the implementation of the Charter. On a bi-annual basis, the compliance with ERAFP SRI Charter of the investments made on its behalf is discussed during investment committee meetings with investment managers. In order to prepare these meetings, ERAFP recourses to the services of an ESG research provider who conducts on a bi-annual basis an exhaustive review of the portfolio aiming at monitoring the compliance of ERAFP's investment with its SRI requirements. Moreover, a monthly reporting of portfolio's issuers SRI rating is requested to asset managers.
Dedicated responsible investment staff :
ERAFP's dedicated responsible investment team monitors the implementation of ERAFP's SRI policy by asset managers, develops asset class-specific SRI guidelines, prepares SRI reporting, ensures the coordination of votes of delegated asset managers and participates/conducts collaborative engagement initiatives.