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Los Angeles County Employees Retirement Association (LACERA)

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy

投資ポリシー

SG 01. RI policy and coverage

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

01.1. 責任投資アプローチをカバーする投資ポリシーを策定しているかどうかを明示してください。

01.2. ポリシーの構成要素/種類と対象範囲を示してください。

当てはまるものをすべて選択してください。
ポリシーの構成要素/種類
AUMの対象範囲
          Investment Policy Statement
        

01.3. 投資ポリシーが以下のどの項目をカバーしているか明示して下さい:

その他の説明 (1) Responsible Contractor Policy

01.4. 組織の投資原則および全体の投資戦略、受託者義務(または同等のもの)の解釈、ならびに、ESGファクターおよび実体経済の影響をどのように考慮に入れているかについて説明してください。

The Los Angeles County Employees Retirement Association (LACERA) seeks to responsibly steward its investments in a manner that promotes and safeguards the economic interests of LACERA and its members, consistent with LACERA's mission to "produce, protect, and provide the promised benefits" to fund beneficiaries.

LACERA’s Investment Policy Statement (IPS) guides oversight and management of the total fund, including consideration of environmental, social, and governance (ESG) factors. The IPS is framed upfront by Investment Beliefs which formally recognize ESG factors as relevant to LACERA’s investment process. It incorporates fundamental tenets of responsible stewardship into the fund’s investment philosophy and strategy, including management of beneficial ownership rights (such as proxy voting and active ownership strategies) that aim to promote sustainable, long-term value.

LACERA's Corporate Governance Principles identify LACERA's core principles of corporate governance, inclusive of environmental and social factors. They are intended to advance LACERA's Investment Beliefs and broader Investment Policy Statement by articulating LACERA's view on sound governance and guiding LACERA's proxy voting and stewardship initiatives. All of LACERA’s investment activities are rooted in its fiduciary obligations, which – as addressed in the fund’s Investment Policy Statement and Corporate Governance Policy – compel and guide its corporate governance and related activities.

01.5. 責任投資アプローチをカバーする組織の投資ポリシーの重要な構成要素、バリエーション、例外事項を簡潔に説明してください。[任意]

LACERA’s Corporate Governance Principles expand upon the fund’s Investment Policy Statement’s consideration of environmental, social, and governance (ESG) factors and responsible stewardship. The Corporate Governance Principles are guided by five core concepts that collectively provide a framework by which LACERA aims to promote sustainable investment returns and responsible stewardship of fund assets:

-Accountability: Governance structures and practices should be designed to promote the accountability of a firm's board of directors to the investors who provide the firm with capital. Accountability helps to ensure that a firm is managed in the best interests of its investors.

-Integrity: Integrity and trust are the cornerstone of financial markets and essential for economic stability. Core investor rights and protections are crucial to promoting integrity in financial markets.

-Aligned Interests: Compensation and incentive practices should align the interests of senior executives with those of investors.

-Transparency: Firms should provide investors with clear, comprehensive, and timely disclosures about fundamental elements of the firm's business and financial activities.

-Prudence: Firms should prudently identify, assess, and manage environmental and social factors that may impact the firm's ability to generate sustainable economic value.

LACERA's Corporate Governance Policy outlines the objectives, legal authority, and procedures guiding how LACERA acts on its Corporate Governance Principles. LACERA prudently exercises its rights as an investor to support policies and practices at portfolio companies, as well as public policies governing financial markets, that are consistent with LACERA's Corporate Governance Principles and economic interests in order to promote sustainable, long-term value on behalf of LACERA's members and enhance LACERA's ability to fulfill its mission. Such activities include responsibly voting the fund's proxies in adherence to the Corporate Governance Principles, corporate engagement, public policy advocacy, and investor collaboration.

In addition, management of ESG factors specifically related to the fund’s real estate investments are addressed in the fund’s Responsible Contractor Policy.

Each of these core policies is attached to the fund’s Investment Policy Statement to provide a cohesive and transparent policy framework by which fund assets are managed and address corporate governance and broader ESG factors.

01.6. 補足情報 [任意]

          
        

SG 01 CC. Climate risk (Private)


SG 02. Publicly available RI policy or guidance documents

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

02.1. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

その他(具体的に記載してください)(1)

          Investment Policy Statement
        

URL/添付ファイル

02.2. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

URL/添付ファイル

02.3. 補足情報 [任意]


SG 03. Conflicts of interest

03.1. 組織として、投資プロセスにおける潜在的な利益相反を管理するポリシーを策定しているかどうかについて明示して下さい。

03.2. 投資プロセスにおける潜在的な利益相反を管理するポリシーについて説明してください。

LACERA holds its board members, management, and staff to the highest ethical standards. These standards are based on legal and fiduciary concepts.  LACERA has posted its Code of Ethical Conduct and Conflict of Interest Code on its website at: http://www.lacera.com/about_lacera/codes_policies.html

03.3. 補足情報 [任意]


SG 04. Identifying incidents occurring within portfolios (Private)


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