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You are in Indirect – Manager Selection, Appointment and Monitoring » Appointment
For Listed Equities (LPPI Global Equities Fund) we have introduced an extra-ordinary exclusion related to our work on climate change. We require managers to exclude companies whose main activity (+50% revenues) is the extraction of thermal coal and have defined this exclusion based on the relevant sub-industry code under MSCI GICS.
Our Investment Management Agreements with external managers clarify LPPI expectations/requirements that they will support us in fulfilling the commitments LPP has made as a signatory to the PRI and will seek to fulfil the 6 principles (which are listed in our IMAs).
LPPI IMAs reflect a target for extractive companies in the LPPI Global Equities Fund to achieve a minimum of a level 3 assessment under the Transition Pathway Initiative’s process for evaluating Management Quality..