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PRI reporting framework 2020

You are in Strategy and Governance » Governance and human resources

Governance and human resources

SG 07. RI roles and responsibilities

07.1. Indicate the internal and/or external roles used by your organisation, and indicate for each whether they have oversight and/or implementation responsibilities for responsible investment.


Select from the below internal roles

          CFO, CMO

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

Responsible investment is core to our strategy and takes two foundational forms:

1 -- It is part of our publicly articulated core values that we refer to by their acronym EATS: Excellence, Accountability, Transparency, and Stewardship. Everyone on our team is responsible for each of these values. The notion of RI falls under each value, perhaps most explicitly under "stewardship." We take our role as stewards of our investors' assets very seriously and are focused on operations that create near-term value and ensure long-term viability.

2 -- It is one of the four key pillars of our business: customer-focused, appropriately scaled, vertically integrated, and regeneratively managed.

We have put a number of processes and expectations in place to ensure we make stewardship-oriented decisions that reflect a regenerative mindset when we make investments.

These processes and expectations are best reflected by our AC Way sustainability framework, which is described elsewhere in this filing and includes the following key elements:

- All assets and the managers who operate them are baselined against a core expectation of responsible performance.

- Beyond that, managers are challenged to rise to the highest (tier 5) level in the framework and are required to set goals each year to make progress toward that highest tier.

- Making progress against the framework requires dedicated resources that AC believes is merited because it supports increasing positive value of the asset and what its teams produce. Each year, managers build their budgets with AC Way activities in mind and report on progress on funded intiatives on a quarterly and annual basis.

- Finally, the AC team serves a critical oversight function to ensure that managers are meeting expectations and driving toward responsible investment outcomes that reflect core strategy and the dynamic stakeholder landscape.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

1 Number

07.4. Additional information. [Optional]

AC's Senior Vice President of Regenerative Management oversees and provides strategic direction for priority ESG intiatives and activities.

SG 07 CC. Climate-issues roles and responsibilities

07.5 CC. Indicate the roles in the organisation that have oversight, accountability and/or management responsibilities for climate-related issues.

Chief Executive Officer (CEO), Chief Investment Officer (CIO), Chief Risk Officer (CRO), Investment Committee

Other Chief-level staff or heads of departments

Investment analysts

Dedicated responsible investment staff

Investor relations

07.7 CC. For management-level roles that assess and manage climate-related issues, provide further information on the structure and processes involved.

While AC does not have a dedicated climate-change task force, climate risk assessment and climate solutions initiatives are the responsibility of the Senior VP of Regenerative Management, who reports to the Co-Managing Director ("Co-CEO") in charge of operations oversight. Climate actions that are directed by AC for all of its asset managers are designed for both mitigation and adaptation. Many climate-related issues are articulated as part of the AC Way sustainability performance framework; as such, they are among the expectations AC has of its asset managers. Periodically (current target is every other year), AC expects to evaluate the carbon footprint of its portfolio (first published in AC's 2017 impact report, distributed in August 2018). AC maintains active relationships in the climate solutions community on topics as diverse as measurement protocols for soil organic carbon percentage and renewable energy markets, all in the interest of delivering on our mission, exceeding the expectations of our stakeholders, and improving the economics of sustainable innovation.

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