Public HTML RI reports - PRI reporting framework 2020

	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		938	10
Collaborative engagements		3	1

No. of interactions with a company	% of engagements
One interaction	>76% 51-75% 11-50% 1-10% None
2 to 3 interactions	>76% 51-75% 11-50% 1-10% None
More than 3 interactions	>76% 51-75% 11-50% 1-10% None
Total	100%

Type of engagement	% leading role
Collaborative engagements	>50% 10-50% <10% None

LEA 10. Engagement methods

Letters and emails to companies

In a minority of cases

In a majority of cases

In all cases

Meetings and/or calls with board/senior management

In a minority of cases

In a majority of cases

In all cases

Meetings and/or calls with the CSR, IR or other management

In a minority of cases

In a majority of cases

In all cases

Visits to operations

Visits to supplier(s) in supplier(s) from the company’s supply chain

Participation in roadshows

Other

Add Example 1

ESG Topic	Diversity Executive Remuneration Climate Change Human rights Company leadership issues Pollution General ESG Diversity Shareholder rights Health and Safety Sustainability reporting Water risks Labour practices and supply chain management Anti-bribery and corruption Deforestation Aggressive tax planning Cyber security Other governance Plastics Other
Conducted by
Objectives	To encourage boards to think strategically about diversity & inclusion, and address the lack of women directors.
Scope and Process	Engaged with over 850 US and Japanese companies via letters, asking them to take steps to address the lack of gender diversity on their boards.
Outcomes

Add Example 2

ESG Topic	Sustainability reporting Executive Remuneration Climate Change Human rights Company leadership issues Pollution General ESG Diversity Shareholder rights Health and Safety Sustainability reporting Water risks Labour practices and supply chain management Anti-bribery and corruption Deforestation Aggressive tax planning Cyber security Other governance Plastics Other
Conducted by
Objectives	Asked the company to disclose more on its ESG practices so investors could evaluate what material risk exists.
Scope and Process	Engaged with the company and requested that material ESG factors be included in its proxy statement, or a standalone corporate social responsibility report.
Outcomes

Add Example 3

ESG Topic	Executive Remuneration Executive Remuneration Climate Change Human rights Company leadership issues Pollution General ESG Diversity Shareholder rights Health and Safety Sustainability reporting Water risks Labour practices and supply chain management Anti-bribery and corruption Deforestation Aggressive tax planning Cyber security Other governance Plastics Other
Conducted by
Objectives	Compensation concern/ misalignment of pay and performance.
Scope and Process	We identified changes made to company’s incentive metrics that would benefit the CEO’s pay despite a decline in company’s performance.
Outcomes

Add Example 4

ESG Topic	General ESG Executive Remuneration Climate Change Human rights Company leadership issues Pollution General ESG Diversity Shareholder rights Health and Safety Sustainability reporting Water risks Labour practices and supply chain management Anti-bribery and corruption Deforestation Aggressive tax planning Cyber security Other governance Plastics Other
Conducted by
Objectives	Address poor 3rd party data scores on governance and human capital.
Scope and Process	Discussed updates to company’s sustainability efforts, including recently updated carbon reduction targets and the near term hire of a sustainability director.
Outcomes

Add Example 5

ESG Topic	Pollution Executive Remuneration Climate Change Human rights Company leadership issues Pollution General ESG Diversity Shareholder rights Health and Safety Sustainability reporting Water risks Labour practices and supply chain management Anti-bribery and corruption Deforestation Aggressive tax planning Cyber security Other governance Plastics Other
Conducted by
Objectives	Address emissions and greenhouse gas issues.
Scope and Process	Company recently updated CSR report with carbon reduction targets, and announced near term hire of director of sustainability.
Outcomes

Add Example 6

ESG Topic	Diversity Executive Remuneration Climate Change Human rights Company leadership issues Pollution General ESG Diversity Shareholder rights Health and Safety Sustainability reporting Water risks Labour practices and supply chain management Anti-bribery and corruption Deforestation Aggressive tax planning Cyber security Other governance Plastics Other
Conducted by
Objectives	To increase awareness and understanding of this issue.
Scope and Process	Engaged with over 850 US and Japanese companies via letters, asking them to take steps to address the lack of gender diversity on their boards. We updated our US voting guidelines to vote against the Chair and/or members of the Nominating & Governance Committee when there is a lack of gender diversity on the board.
Outcomes

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