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HESTA Super Fund

PRI reporting framework 2020

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Promoting responsible investment

SG 09. Collaborative organisations / initiatives

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HESTA is a member of the PRI and has been since 2007.

HESTA's Chair of the board, Angela Emslie has been on the PRI board since the end of 2015. 

HESTA is an active participant in PRI with HESTA's RI and Investment teams participating in various advisory committees, working groups and initiatives. 

HESTA has regularly attended PRI annual conferences. From time to time HESTA has contributed to the development of PRI policies, papers and guidance documents.

HESTA promotes PRI and their policies and programs to our external investment managers and the broader investment market.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We participate on ACGA's quarterly update calls. 

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HESTA is a member of ACSI and has been since inception in 2001.

HESTA is a very active participant in ACSI with HESTA’s CEO being on the ACSI Board and a HESTA Trustee Director being on the ACSI Member Council. HESTA's Head of Impact is a participant on the ACSI Member Council and the ESG Group.

HESTA actively provides input to ACSI policies, programs and activities and promote ACSI and their policies, programs and activities in the broader investment market.

HESTA participates in ACSI coordinated meetings with a range of companies on key corporate governance issues such as board composition including diversity and independence, executive remuneration, corporate and capital structures, and social and environmental issues such as climate change strategy, stranded assets and coal seam gas.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HESTA is a signatory to CDP Climate Change and has been since 2007.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HESTA is a signatory to CDP Forests.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HESTA is a signatory to CDP Water.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HESTA acts as lead investor on South32 on behalf of Climate Action 100+ investors.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HESTA is a founding member of ESG RA (founded in 2009). 

HESTA is a very active participant in ESG RA. For the 10th consecutive year, HESTA’s E-IE was chair  of ESG RA. For five years until 30 June 2013 HESTA also provided the secretariat support for ESG RA.

HESTA actively promotes ESG RA to our external investment managers and the broader investment market.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HESTA is a member of the GRESB and has been since 2014.

HESTA is an active participant in GRESB having requested all our external property and infrastructure managers complete the GRESB Survey. 

HESTA regularly attends GRESB seminars and from time to time presents in conferences or events organised by GRESB.

HESTA is part of the Investor working group on climate resilience.

HESTA promotes GRESB and their policies and programs to our external investment managers and the broader investment market.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HESTA is a signatory to ICGN and has been since 2007.

HESTA has attended ICGN annual conferences. From time to time HESTA has contributed to the development of ICGN policy.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HESTA is a member of IGCC and has been since incorporation of the association in 2006.

HESTA is a very active participant in IGCC. HESTA's CIO is a member of the IGCC Management Committee, replacing the Executive – Investment Execution (who had held the position since since 2006).

HESTA actively provides input to IGCC policy and programs and promotes IGCC and their policy and programs in the broader investment market.

 
          Responsible Investment Association Australasia (RIAA)

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HESTA is a member of RIAA and has been since 2009.

HESTA is an active participant in RIAA, with HESTA's Investment Manager - ESG participating in various projects and meetings including the RIAA / ASFA Impact Investment Working Group.

HESTA has regularly attended RIAA conferences. From time to time HESTA has contributed to the development of RIAA policies and papers.

HESTA is also surveyed by RIAA's Superfund Responsible Investment Benchmark report.

 
          Workforce Disclosure Initiative

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HESTA became a signatory to the WDI and supported the letter sent to Australian companies calling for disclosure.
 

 
          Christchurch Call

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

HESTA became a signatory to the Christchurch Call in April 2019, backing greater action by social media companies to restrict violent and objectionable content in the wake of mass shootings in New Zealand. 

SG 09.2. Assets managed by PRI signatories

Indicate approximately what percentage (+/- 5%) of your externally managed assets under management are managed by PRI signatories.

81 %

SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description 

          HESTA produced educational online content for members, including how we invest their retirement savings to deliver a financial return as well as a societal benefit.  
https://www.hesta.com.au/stories/a-brighter-future.html
https://www.hesta.com.au/stories/water-for-life.html
https://www.hesta.com.au/stories/a-sunnier-outlook.html 
https://www.hesta.com.au/stories/climate-change.html 
https://www.hesta.com.au/stories/no-butts-about-it.html 
https://www.hesta.com.au/about-us/what-we-stand-for/responsible-investment/active-ownership.html

Frequency of contribution

Description 

          During the reporting year, HESTA's encouraged better transparency and disclosure by: 
* Requesting all managers respond to HESTA's manager ESG assessment. 
* Requesting our property and infrastructure managers respond to the Global Real Estate Sustainability Benchmark (GRESB).

Frequency of contribution

Description 

          HESTA spoke at the following events during the period: ASI Conference, ACSI Conference among others

Frequency of contribution

Description 

          During our regular meetings with managers that are not PRI signatories, we highlight the importance of becoming a PRI signatory by disclosing to all managers that being a signatory to PRI is a KPI in HESTA's manager ESG assessment.

Frequency of contribution

Description 

          HESTA is a member of the PRI Stewardship Advisory Committee and the Asset Owner Advisory Committee.

Frequency of contribution

Description 

          All board and advisory positions are included in the collaborative initiatives list (SG09)

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]

SG 11. Dialogue with public policy makers or standard setters

11.1. Indicate if your organisation - individually or in collaboration with others - conducted dialogue with public policy makers or regulators in support of responsible investment in the reporting year.

If yes

11.2. Select the methods you have used.

11.3. Where you have made written submissions (individually or collaboratively) to governments and regulatory authorities, indicate if these are publicly available.

11.4. Provide a brief description of the main topics your organisation has engaged with public policy-makers or regulators on.

HESTA engages with public policy makers, regulators and standard setters on ESG and other matters to protect or enhance the long-term value of our investments through our expert third-party engagement service providers. For engagement internationally we have appointed Hermes Equities Ownership Services (EOS) and for engagement in Australia we have appointed the Australian Council of Superannuation Investors (ACSI) and Regnan - Governance Research & Engagement.

During the reporting year, HESTA contributed to the development of EOS', ACSI's and Regnan's Public Policy Engagement Plans. We also reviewed the progress of these Plans quarterly. During the reporting year, EOS, ACSI and Regnan contributed to the development of policy and best practice on a range of ESG issues and other matters through:

* Meeting with public policy makers, regulators and standard setters.

* Preparing a number of submissions to governments, regulators or standard setters

Some of the issues engaged on were: 

Modern Slavery & supply chains, Climate Policy, Role of proxy providers and shareholder resolutions in the US marketplace, Corporate governance, Culture, Capital Raising Practices and Strategic human capital.
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