While we ideally see a systematic incorporation of ESG insights in the investment process, we recognize that ESG information is not as systematically available as other information on investments. In order to fill that gap, we judge positively when managers have access to ESG data on which they can base informed decisions. We see our role as one of leading the horse to water but it is up to the manager to drink. We find that when ESG information is available, ESG naturally becomes part of the investment thesis. We engage with managers to get them to systematically evaluate ESG factors.
Please note that we have dedicated providers for engagement and proxy voting, i.e. that is not left to our external managers.