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Lombard Odier

PRI reporting framework 2020

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Outputs and outcomes

LEA 09. Number of companies engaged with, intensity of engagement and effort

Indicate the proportion of companies in your listed equities portfolio with which your organisation engaged during the reporting year. We did not complete any engagements in the reporting year.
We did not complete any engagements in the reporting year.

Number of companies engaged

(avoid double counting, see explanatory notes)

Proportion of companies engaged with, out of total listed equities portfolio

Individual / Internal staff engagements

35
10

Collaborative engagements

09.2. Indicate the breakdown of engagements conducted within the reporting year by the number of interactions (including interactions made on your behalf).

No. of interactions with a company
% of engagements
One interaction
2 to 3 interactions
More than 3 interactions
Total
100%

09.5. Additional information. [Optional]

The figures and information provided above is reflective of our asset management activities.


LEA 10. Engagement methods

10.1. Indicate which of the following your engagement involved.

10.2. Additional information. [Optional]

This information is reflective of our asset management activities.


LEA 11. Examples of ESG engagements

11.1. Provide examples of the engagements that your organisation or your service provider carried out during the reporting year.

ESG Topic
Sustainability reporting
Conducted by
Objectives

To improve sustainability reporting in Hong Kong-listed companies.

 

Scope and Process

After assessing sustainability reports and identifying areas of poor disclosure, we engaged with several companies to encourage them to change their reporting. Several companies committed to improve their disclosures and to devote more resources internally to sustainability reporting. 

Outcomes
ESG Topic
Plastics
Conducted by
Objectives

Improve plastics use & strategy

 

Scope and Process

We engaged with a company that produces products allowing connectivity to the digital world to better understand their plastics' supply chain and overall use. We were satisfied with their approach, which is indeed best-in-class and we will continue to engage with them to further leverage their approach.

Outcomes
ESG Topic
Climate Change
Conducted by
Objectives

Climate change as a risk in the insurance industry

Scope and Process

We sought to better understand the extent to which insurance companies may be underpricing the risks arising from climate change and catastrophic risk. We were not surprised with the findings that insurers have underpriced protection around these real risks and we aim to continue to engage on suitable and aligned pricing models. 

Outcomes
ESG Topic
Other

specify

          
        
Conducted by
Objectives

To ensure social impact related to gambling addiction was better addressed through code of conduct and approach for responsible gaming.

Scope and Process

We engaged with an online gaming company to understand and improve their responsible gaming strategies and company culture around the topic. 

Outcomes
ESG Topic
Climate Change
Conducted by
Objectives

Improve carbon efficiency of a company in the cement sector.

Scope and Process

We engaged with a large cement producer which is at the forefront of improving CO2 footprints across the sector. Our aim was to push for further innovation in their transition to lower carbon products. 

Outcomes
ESG Topic
Climate Change
Conducted by
Objectives

To encourage a shift towards greener railway systems.

Scope and Process

We engaged with a railway manufacturer to encourage them to continue and deepen their shift to green transportation. In addition to their own efforts, it was clear, and this is aligned with our own mobility approach, that public investments for updated urbanisation trends are needed. 

Outcomes
ESG Topic
Climate Change
Conducted by
Objectives

To influence policy makers to increase ambition relating to climate change

To promote improved disclosure of climate-related risks & opportunities through TCFD-aligned reporting

Scope and Process

We joined a record 631 institutional investors with more than $37 trillion in signing the IIGCC's the Global Investor Statement on Climate Change.

We issued a statement of support on our website promoting the initiative and stating our reasoning for joining the collaborative initiative: https://www.lombardodier.com/contents/corporate-news/corporate/2019/december/lombard-odier-supports-the-iigcc.html. We have also continued to promote this important initiative with clients and the wider investment community through our interactions with clients, in our marketing materials, in press articles, and in our ongoing educational efforts. 

We continue to focus on climate change and TCFD-aligned reporting as a key pillar of our collaborative and direct engagement program.

 

Outcomes
ESG Topic
Plastics
Conducted by
Objectives

To assess the susceptibility of a large consumer good producer to increased regulation and negative consumer sentiment around single-use plastics

To increase our understanding of the company's strategy and management of packaging materials

To ensure the company has a robust program in place, with clear targets & objectives, to improve the circularity of its business model medium-term

To ensure the company has appropriate expertise to oversee this transition 

Scope and Process

We were able to leverage an existing trusted relationship with this company to engage for information, resulting in dialogue with their Head of Sustainability. Discussion focused on the company's strategy for addressing plastics and increasing the circularity of their business model. Our discussion led us to conclude that this company has a credible position on plastics, which continues to be an appropriate packaging material for the firm. They do have a robust program in place to increase the circularity of their business model, which is overseen by an appropriate level of expertise. This dialogue increased the conviction of the portfolio management team in this company based on their low susceptibility to the issue and a leadership position in adopting more circular business models. 

We continue to engage with this company to monitor their progress against their objectives, and to raise other sustainability-related issues. 
 

Outcomes

11.2. Additional information. [Optional]

This information is reflective of our asset management activities.


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