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Generation Investment Management LLP

PRI reporting framework 2020

You are in Strategy and Governance » Governance and human resources

ガバナンスおよび人事

SG 07. RI roles and responsibilities

07.1. 組織が採用している内部または外部の役割、ならびにそれぞれの責任投資に対する監督責任および実施責任の有無について明示してください。

組織における役職

下記の内部の役割より選択;

07.2. RIの監督/説明責任または実施責任を担う役職について、このような責任をどのように果たすのか記載してください。

Generation's mission is to provide superior long-term investment returns [1] to its clients through the integration of sustainability issues within a rigorous framework of traditional financial analysis which will ultimately prove the business case for sustainable capitalism. There are a number of aspects of Generation's governance, management and team structure, and processes which we feel are important facilitators of this mission: culture, the Firm's partnership structure, the investment team's incentives, and a flat managerial structure. This allows for oversight and implementation of our investment philosophy and mission to be embedded within all individuals at the firm, at all levels. All individuals in the investment process and, more broadly, everyone at the firm feels responsible for the firm's mission and our core values. 
1. Culture - Generation is a mission-driven organisation and all team members feel aligned to this mission. The most powerful way to achieve our mission is through achieving superior investment results to our clients and therefore individuals are driven towards this goal. We are proud to have
created a place where our team members can lead interesting professional lives in a way that is consistent with their values. The Generation Foundation and the advocacy work that it does, is one way in which team members can contribute more broadly to topics that are of interest to them and is an important part of our culture and identity.
2. Partnership Structure - A culture of shared ownership is emphasised by adopting a partnership model. Partners share in the profitability of the Firm, which is linked to achieving long-term superior performance (primarily due to the fee arrangements in place based on 3-year performance) and therefore focuses the team on long (rather than short) term results.
3. Incentives - The investment team's compensation is based on investment performance over a one and three-year investment horizon with equal weight to each period. They are also rewarded for their participation to the whole team's research agenda, which we are constantly seeking to improve and develop our understanding and identification of the long-term sustainability trends.
4. Flat managerial structure - By operating a relatively flat structure, Generation encourages all team members to contribute to investment research and analysis. In valuing diversity of views and perspectives, Generation is able to ask thoughtful questions and become increasingly better long-term
investors. The firm's management committee is supported by an operating committee with representatives from across the business. This ensures all perspectives are recognised and valued. 

5. Investment team structure - ESG analysis is embedded within our investment process, which is deliberately structured to be team-based so that analysts, sector heads and portfolio managers hold one another accountable and provide appropriate oversight to ensure all material ESG issues are considered in analysis. In this way, everyone is responsible for providing oversight to the process and in this way it is self-preserving. We do not have separate sustainability analysts, but rather, all investment analysts are responsible for incorporating ESG analysis into their research.

[1] Although Generation seeks to provide superior investment performance and attract the “best” professionals, this is an aspiration and there is no guarantee that this goal will be obtained.

07.3. 組織にいる専任の責任投資担当者の人数を記載してください。

90

07.4. 補足情報 [任意]

We consider all individuals of the firm to be dedicated to responsible investment.


SG 07 CC. Climate-issues roles and responsibilities

07.5 CC. 気候関連問題について監視、説明責任および/または管理責任をもつ組織の役職を示してください。

取締役会メンバーまたは受託者

最高経営責任者(CEO)最高投資責任者(CIO)最高リスク責任者(CRO)投資委員会

ポートフォリオマネージャー

投資アナリスト

投資者関係(IR)

07.6 CC. 気候関連の問題の監督/説明責任または実施責任がある取締役会レベルの役職については、これらの責任の遂行方法を説明してください

Climate change consideration is integrated across all Generation’s business areas, from sourcing decisions and management of the Firm’s operations, to our public and private equity investment strategies. While specific people have responsibility for execution in some cases, we consider it everyone’s responsibility to be mindful of the urgency of climate change mitigation, in the course of both their professional and their personal lives. This is intrinsic to the Firm’s mission and core values, and the Management Committee has ultimate responsibility for ensuring this remains a key part of the culture. In the case of our investment products, we explicitly do not have separate sustainability and investment analysts. All our investment professionals are responsible for considering climate implications and all material sustainability issues into their sector and company analysis. The Firm’s advocacy arm, the Generation Foundation acts to accelerate the transition to a more sustainable economic system, and has identified Climate Action as a strategic priority.

07.7 CC. 気候関連の問題を評価し管理する管理レベルの役職については、その構造とプロセスを詳しく説明してください。

Please see above.


SG 08. RI in performance management, reward and/or personal development

08.1. 組織のパフォーマンス管理、報奨や個人の能力開発プロセスに責任投資の要素があるかどうかを記載してください。

取締役会メンバーまたはトラスティ―(受託者)

08.1b. 個人の能力開発または研修計画における責任投資

08.2. 報告年度に取締役が責任投資に関連したスキルや知識を開発し、維持するために行った活動について説明してください。

A proportion of the firm's management committee's OKRs for the year include a focus on impact objectives.

最高経営責任(CEO)、最高投資責任者(CIO)、最高執行責任者(COO)、投資委員会

08.1a. 目標、評価、査定または報酬における責任投資

08.1b. 個人の能力開発または研修計画における責任投資

ポートフォリオマネージャー

08.1a. 目標、評価、査定または報酬における責任投資

08.1b. 個人の能力開発または研修計画における責任投資

投資アナリスト

08.1a. 目標、評価、査定または報酬における責任投資

08.1b. 個人の能力開発または研修計画における責任投資

投資者関係(IR)

08.1a. 目標、評価、査定または報酬における責任投資

08.1b. 個人の能力開発または研修計画における責任投資

08.3. 組織の責任投資に関連したパフォーマンス管理、報奨や個人の能力開発プロセスについて詳細を説明してください。

Responsible investment is the way that we invest. We do not separate the two and consider all individuals' personal objectives and incentives aligned with the firm's mission. The firm's commercial arrangements and incentive plans are deliberately structured to be aligned with our clients, and focus on meeting our performance objectives through integrating sustainability into a traditional investment approach.


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