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Fidelity International

PRI reporting framework 2020

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Overview

LEA 01. Description of approach to engagement

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

01.1. Indicate whether your organisation has an active ownership policy (includes engagement and/or voting).

01.2. Attach or provide a URL to your active ownership policy.

01.3. Indicate what your active engagement policy covers:

General approach to Active Ownership

Engagement

Voting

Specify

          ESG Integration, Exclusion Policy, Role of ESG Team and our house view on specific topics such as Climate Change Takeover Bids etc.
        

01.4. Do you outsource any of your active ownership activities to service providers?

01.6. Additional information [optional]

The Responsible Investing webpage provided in LEA 01.01 includes our Responsible Investment Policy  (https://www.fidelityinstitutional.com/assets/images/responsible-investing/responsible-investment-policy-rz-interactive.pdf) as well as other documents and policies in relation to our Active Ownership approach including the “Sustainable Investing at Fidelity” document which provides more details on our engagement priorities (https://www.fidelityinstitutional.com/assets/images/responsible-investing/sustainable-investing-at-fidelity.pdf).  Further information on our Active Ownership can be found in this attached link on our stewardship activities (https://www.fidelity.co.uk/uk-stewardship-code/).

All our Responsible Investment/Sustainable Investing Policies are reviewed and updated annually or earlier than that if required.  Any changes to our Responsible Investment Policy are approved by the Board. We also update our Global Operating Committee of any material changes to our policies.

Our engagement topics is driven by the investment team and market trends. We will focus our engagements on companies within our global investment universe but will prioritise those companies that we hold.  On occasion, mostly as part of our thematic engagements, we will engage with companies outside of our investment universe to gain industry insights or to get a more holistic view of best practice.

Our engagements are both proactive and reactive and are run by the Sustainable Investing team in conjunction with the covering investment analyst. We will engage with a company on a reactive basis if there is an ESG event that impacts that company or if the company has reached out to us for ESG engagement. Through our thematic engagement process, we will proactively reach out to companies within a certain sector to gain further insights into their performance and practices within a certain theme.

We track our engagements systematically through internal databases.  We view our thematic engagements as long-term projects but we will take steps to escalate the engagements if we feel we are not getting the change/improvements we are looking for, for example we will consider using our vote or making AGM statements at company meetings.


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