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New York State Common Retirement Fund

PRI reporting framework 2020

You are in Direct - Listed Equity Active Ownership » Engagement

Engagement

LEA 02. Reasoning for interaction on ESG issues

Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual / Internal staff engagements
Collaborative engagements
Service provider engagements

02.4. Additional information. [Optional]

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LEA 03. Process for identifying and prioritising engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagements.

Indicate the criteria used to identify and prioritise engagements for each type of engagement.
Type of engagement
Criteria used to identify/prioritise engagements
Individual / Internal staff engagements

Individual / Internal staff engagements

Collaborative engagements

Collaborative engagements

03.3. Additional information. [Optional]

...


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Indicate whether you define specific objectives for your organisation’s engagement activities.
Individual / Internal staff engagements
Collaborative engagements

04.2. Additional information. [Optional]

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LEA 05. Process for identifying and prioritising collaborative engagement

Indicate whether you monitor and/or review engagement outcomes.
Individual / Internal staff engagements
Collaborative engagements
Indicate whether you do any of the following to monitor and/or review the progress of engagement activities.
Individual / Internal staff engagements
Collaborative engagements

05.3. Additional information. [Optional]

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LEA 06. Role in engagement process

06.1. Indicate whether your organisation has an escalation strategy when engagements are unsuccessful.

06.2. Indicate the escalation strategies used at your organisation following unsuccessful engagements.

06.3. Additional information. [Optional]

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LEA 07. Share insights from engagements with internal/external managers

07.1. Indicate whether insights gained from your organisation`s engagements are shared with investment decision-makers.

Type of engagement

Insights shared

Individual / Internal staff engagements

Collaborative engagements

07.2. Indicate the practices used to ensure that information and insights gained through engagements are shared with investment decision-makers.

07.3. Indicate whether insights gained from your organisation’s engagements are shared with your clients/beneficiaries.

Type of engagement

Insights shared

Individual/Internal staff engagements

Collaborative engagements

07.4. Additional information. [Optional]

The Fund releases an annual Corporate Governance Stewardship Report which highlights the Fund’s work on its corporate governance agenda, along with major initiatives and achievements. The report also highlights the Fund’s engagement. Our stewardship program works to encourage the companies in which the Fund invests to operate according to sound management principles—including on matters of sustainability, diversity and accountability—that have been shown to promote long-term financial success. Our engagement takes many forms, including voting on nearly 30,000 proxy measures annually, filing shareholder resolutions, writing letters as specific issues arise and discussing important environmental, social and governance (ESG) issues directly with corporate directors and management. The Fund’s Corporate Governance Stewardship Reports can be found on the Corporate Governance segment of its website (https://www.osc.state.ny.us/pension/corporategovernance.htm).

The Fund makes its proxy votes available annually on its website and summarizes the Fund’s voting during the year in its annual Corporate Governance Stewardship Report. The Fund’s annual votes can be found on the Corporate Governance segment of its website (https://www.osc.state.ny.us/pension/corporategovernance.htm). The Fund also alerts external managers on changes to its proxy voting guidelines and ESG principles. The Fund encourages its external managers to consider these principles in investment decision making, proxy voting, and corporate engagements consistent with fiduciary duty.

In 2019, the Fund released it Climate Action Plan which outlines the Fund’s engagement strategy with portfolio companies to encourage and support climate risk management, strategic planning and reporting. The Fund’s Climate Action Plan can be found on the Fund’s website (https://www.osc.state.ny.us/pension/climate-action-plan-2019.pdf).


LEA 08. Tracking number of engagements

08.1. Indicate whether you track the number of your engagement activities.

Type of engagement
Tracking engagements
Individual/Internal staff engagements​

Collaborative engagements

08.2. Additional information. [Optional]


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