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Blue Oceans Capital

PRI reporting framework 2020

You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes

実施プロセス

LEI 01. Percentage of each incorporation strategy

01.1. 以下を記載してください。(1)組織でのアクティブ運用上場株式にどのESG組み入れ戦略や組み合わせを使用しているか(2)アクティブ運用している上場株式の戦略または戦略の組み合わせ別内訳

ESG組み入れ戦略 (当てはまるものをすべてお選びください)
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
100 %
アクティブ運用している上場株式の合計 100%

01.2. 組織が実施しているESG組み入れアプローチ、および、特定のESG組み入れ戦略を選択している場合はその理由を説明してください。

Ininitial screening involves filtering out any company that is involved in:

- Polluting commodities (such as oil, coal, copper or gold)
- Weapons or defence
- Gambling
- Alcohol
- Any media harmful to psychological well-being

 

If a company passes this filter we then examine: 

- External ESG factors 

- How the company has demonstrated its awareness of ESG factors

- Where management has demonstrated its awareness of ESG factors

- How management has demonstrated is knowledge of ESG risks

- Strategy alignment with ESG opportunities 

- Evidence of reporting highlighting future ESG risks and if strategy allows for anticipated risks

- Linking of ESG factors to financial performance 

- Extent that management involves customers, employees, governement and other stakeholders in ESG issues

- How responsive the company is to investor engagement

- Board support of ESG issues 

- Drivers of revenue for price and volume and do they align with sustainabile ESG factors, future prospects for these factors

- Risks in future ESG factors

- ESG trends and their impact on core markets

- Anticipated legislative or regulatory changes 

- Sustainability of company's key markets in terms of resource use and disposal, consumer preferences and social trends

- Scacity of raw materials

- Energy intensity of operations

- Motivation of employees

- Risks that input costs will rise and is the company aware of this

- Costs projects of input costs 

- Gross income as a portion of revenue

- Product development strategy and % of new sales from new products

- Pending patent applications

- Incentive structures

- Extent of stakeholder research

- Efforts to mitigate ESG risks in regards to costs 

- Capacity to sustain or improve operating efficiency 

- Growth rate of shares outstanding 

- Percentage of total assets that are intangible assets 

- Environmental provisions and levels vs historical costs 

- Notes to balance sheet recognising environmental risks to physical assets 

- Notes to balance sheet in recognition to ESG risks to reputation

- Strength of brand

- Strength of customer satisfaction and loyalty

- Pricing power

- Level of autonomy of employyes

- if there are flat or hierarchical structures

- Recruitment proceedure for obtaining talented graduates

- Structure and diversity of non-executive board

- How dynamic and committed executive management is

- If pension assets are being managed by ESG aware practitioners

- If liabilities are short or long-term

- The efficiency of working capital 

- Reliability of relationships with suppliers and customers

- Extent of off-balance sheet commitments 

- If there is excessive leverage eroding stakeholder trust and raising cost of equity

- If debt covenants specify any aspects of ESG risk management

- If operating expenses are being reduced by investment in resource-efficient technology

- If capital expenditure is covering asset depreciation

- Capital expenditure and if it is reducing the need for capex in the future pointing to improvements in free cash flows

- Any due dilligence on acquisition targets needs to cover long-term ESG risks

- Debt facilities in relation to costs that could be lowered if management improves it ESG risks 

- Any ammendment that needs to be made to our valuation in light of ESG risks impacting future cash flows

 

01.3. ESG組み入れ戦略の組み合わせを使用して資産を運用している場合、ESG戦略の組み合わせをどのように使用しているかを簡単に説明してください。 [任意]


LEI 02. Type of ESG information used in investment decision (Not Completed)


LEI 03. Information from engagement and/or voting used in investment decision-making (Not Completed)


A) 実施:スクリーニング

LEI 04. Types of screening applied

04.1. 組織内でアクティブ運用している上場株式に適用するスクリーニングの種類を記載し、説明してください。

スクリーニングの種類

スクリーニング実行者

          Manual consideration of business models followed by detailed analysis proceedure made with reference to PRI practical guide to ESG integration for equity investing
        

説明

We manually look at each business model to consider its high level ESG impact. (We do not invest in polluting commodities, weapons or defense, gambling, alcohol, harmful media). If a company passes that manual screening we than conduct detailed ESG research as per our ESG analysis proceedure as shown on our website https://blueoceans.com.au/wp-content/uploads/2019/06/03606-blueo-priguidelines_a4-web-20190613.pdf

 

04.2. スクリーニング基準が変更された場合に顧客や受益者に通知する方法について説明してください。

By updating our investment process and sustainability analysis document on our website. 


LEI 05. Processes to ensure screening is based on robust analysis

05.1. スクリーニングが徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを選択してください。

05.2. ESGスクリーニング戦略の一環で包括的なESG調査の対象となるアクティブ上場株式ポートフォリオの割合を示してください。

05.4. 組織のESGスクリーニングを構築するための組織内リサーチを精査する頻度を示してください。

05.5. 補足情報 [任意]

We may review more frequently than annually if ESG issues arise. If an issue arises we will review that company completely, update our ESG report and post to our website. If an issue is material we will divest and notify our investors. We review news and updates on companies we hold weekly. 


LEI 06. Processes to ensure fund criteria are not breached (Private)


B) 実施:テーマ

LEI 07. Types of sustainability thematic funds/mandates

07.1. 組織が運用している、サステナビリティをテーマとするファンドやマンデートの種類を記載してください。

07.2. 組織でのサステナビリティをテーマとしたファンドのプロセスについて説明してください。 [任意]

A company must not harm people or the environment and we preference companies that go further and actually contribute to climate change abatement or social improvement. 


C) 実施: 統合

LEI 08. Review ESG issues while researching companies/sectors

08.1. E・S・Gの各要因が投資分析の一環として体系的に調査されている、アクティブ運用の上場株式ポートフォリオの割合を記載してください。

ESG問題

影響を受ける割合
E(環境)

E(環境)

S(社会)

S(社会)

コーポレートガバナンス

コーポレートガバナンス

08.2. 補足情報 [任意]


LEI 09. Processes to ensure integration is based on robust analysis

09.1. ESG統合が徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを記載してください。

09.2. 組織の統合戦略の一環で包括的ESG調査の対象になるアクティブ運用上場株式の割合を記載してください。

09.4. ESG統合戦略に使われる組織内調査を見直す頻度を示してください。

09.5. ポートフォリオ・マネージャーがどのようにしてESG情報を保有し、使っているのか説明してください。

09.6. 補足情報 [任意]


LEI 10. Aspects of analysis ESG information is integrated into (Private)


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