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Los Angeles County Employees Retirement Association (LACERA)

PRI reporting framework 2020

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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]

LACERA actively monitors and aims for continuous improvement in its adherence to the Principles for Responsible Investment, including prudently applying the Principles in its ESG integration efforts, encouraging broader adoption of the principles among peers, and reports and discussion with the LACERA Board of Investments.

LACERA participates on the PRI's Private Equity Advisory Committee to promote further practical ESG integration within the private equity asset space.

LACERA participates on the Western North American Advisory Committee to encourage dialogue among regional signatories on best practices and initiatives. LACERA was pleased to see the Advisory Committee successfully convene a regional PRI meeting here in Los Angeles, at which our CIO provided comments on an opening panel discussion. LACERA is actively encouraging more regional dialogue on ESG-related matters.

LACERA occasionally provides feedback and input on PRI reports and tools, such as PRI’s PACTA tool and the forthcoming updated LP guide.

LACERA advocates broader adoption of the PRI through speaking with peer funds (one of which recently became a signatory to the PRI) and speaking at PRI’s annual and regional events.

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]

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]

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]

LACERA actively collaborates with the Council of Institutional Investors (CII) on a range of corporate governance and broader ESG-related matters. LACERA’s head of corporate governance serves on the CII Board of Directors, where he is Treasurer and Chair of the Audit Committee. LACERA regularly participates in joint investor letters to legislators and regulators regarding ESG issues and has supported CII through participation in one-on-one meetings and discussions with public policymakers on ESG priorities. LACERA has contributed as a speaker at CII events, helps formulate strategic objectives and oversight for CII, and is an active participant in CII’s peer-to-peer exchange addressing proxy voting trends and topics. LACERA board members and staff alike regularly participate in CII’s educational programming, including webinars and conferences.

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]

LACERA is an endorser of the ICGN Global Stewardship Principles.  LACERA contributes to planning for ICGN's North American and annual conference programming and regularly attends education programs and events.

 
          Sustainability Accounting Standards Board

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]

LACERA is a member of the Sustainability and Accounting Standards Board Investor Advisory Group and has actively promoted investee companies and asset managers to consider SASB’s materiality matrix for corporate disclosures and operational due diligence.

 
          State Association of County Retirement Associations

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]

LACERA actively engages and coordinates with other State of California county pension systems through SACRS. LACERA holds leadership positions on the SACRS board, coordinates on legislative outreach regarding matters pertinent to pension fund administration, and develops and pursues educational programming for trustees and investment staff to advance county funds’ ability to promote retirement security over the long-term on behalf of fund beneficiaries.

 
          Institutional Limited Partners 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]

LACERA has participated on ILPA coordinated efforts to advance limited partners’ fiduciary protections with U.S. regulators and policymakers and has been actively involved in ILPA’s Diversity and Inclusion Advisory Council, which led to the recent release of a roadmap and guide of best practices to enhance diversity and inclusion in the private equity sector.

SG 09.2. Assets managed by PRI signatories (Private)

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 

          LACERA presents at conferences and educational sessions, including participating in peer-to-peer exchanges on proxy voting matters, the Council of Institutional Investors, peer funds meetings and presentations, and investment industry conferences, on ESG integration and approaches to responsible investment.

Frequency of contribution

Description 

          LACERA regularly presents at conferences and educational sessions on approaches to ESG integration, corporate governance matters, and related public policy topics.

Frequency of contribution

Description 

          LACERA incorporates into all management agreements an affirmation and acknowledgement of LACERA’s signatory status with the PRI. In addition, LACERA speaks with peer funds, including formally before boards, regarding LACERA’s involvement and commitment to the PRI. In the reporting period, a peer local fund became a signatory to the PRI.

Frequency of contribution

Description 

          PRI Private Equity Advisory Committee

Frequency of contribution

Description 

          LACERA believes that active collaboration with other institutional investors and the broader financial services sector is key to exchanging information and ultimately advancing corporate governance and responsible investment. LACERA is active in leadership roles at a number of related associations. LACERA serves on the board of the Council of Institutional Investors as Treasurer and Chair of the Audit Committee; participates on the Investor Advisory Group of the Sustainability and Accounting Standards Board; and is a member of several PRI advisory committees (Private equity Advisory Committee and the Western North America Regional Advisory Committee).  In addition, LACERA is active in key organizations advancing public policy and legal protections for retirement systems and asset owners. For example, LACERA serves as Board Vice Chair of the State Association of County Retirement Associations (SACRS), is on the board of the National Conference on Public Employee Retirement Systems (NCPERS), and collaborates with the Institutional Investor Limited Partner Association (ILPA) Committee on Diversity and Inclusion.

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 (Private)

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