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UniSuper Management Pty Limited

PRI reporting framework 2020

You are in Strategy and Governance » Governance and human resources

Governance and human resources

SG 07. RI roles and responsibilities

07.1. Indicate the internal and/or external roles used by your organisation, and indicate for each whether they have oversight and/or implementation responsibilities for responsible investment.

Roles

Select from the below internal roles

          Heads of specific asset classes
        

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

All members of the investment team have a role in implementing ESG/Responsible Investment practices. While there are ESG technical specialists, ESG is a matter that all investment staff are focused on. The ESG specialists work on specific projects, provide ESG specific information and data, support and educate the investment staff, perform an ESG champion role, provide ESG related advice and briefing on issues and typically represent the fund in an external capacity regarding ESG and responsible investment.

UniSuper is at the point, with over a decade of dedicated focus on responsible investment and ESG integration and incremental year on year change, where ESG is inherently and intrinsically a part of the way in which we manage our investments and make investment decisions. Non ESG investment team members are focused on ESG issues as part of their day job.  The ESG team supports team members in performing their roles. 

Consideration of ESG is a critical part of the 'quality' assessment we conduct when doing due diligence on prospective investments and external managers. It fundamentally goes to ensuring we make good investment decisions for the long term and acts as a risk mitigant.

UniSuper's portfolios within our Sustainable Options are internally managed with PM's having ESG considerations in their IMA.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

3 Number

07.4. Additional information. [Optional]


SG 07 CC. Climate-issues roles and responsibilities

07.5 CC. Indicate the roles in the organisation that have oversight, accountability and/or management responsibilities for climate-related issues.

Board members or trustees

Chief Executive Officer (CEO), Chief Investment Officer (CIO), Chief Risk Officer (CRO), Investment Committee

Other Chief-level staff or heads of departments

Portfolio managers

Investment analysts

Dedicated responsible investment staff

External managers or service providers

07.6 CC. For board-level roles that have climate-related issue oversight/accountability or implementation responsibilities, indicate how these responsibilities are executed.

We view climate related issues as being no different to other investment risks that we need to manage. UniSuper's investment team has been focused on climate risk management since 2007, and year on year this focus has escalated and intensified.While the ESG team provides data and reports to the Board and relevant sub-committees (Investment Committee or Risk and Audit committee) - these responsibilities are no different to their regular duties with respect to Investments and ESG more broadly.

However, it is important to note that climate risk management is viewed as a key focus area for Management to address and report on to members. It is part of UniSuper's day to day investment management activities.

 

07.7 CC. For management-level roles that assess and manage climate-related issues, provide further information on the structure and processes involved.

As mentioned above, climate risks are viewed as investment risks, and are a responsibility of the CIO. RI staff help identify and compile portfolio and option level exposure reports to identify the level of exposure to climate risks - transition and physical. 

Portfolio and asset managers are responsible for the identification and consideration of climate related risks in portfolio construction, in both the due diligence and ongoing investment in the asset/company. 

07.8 CC. Indicate how your organisation engages external investment managers and/or service providers on the TCFD recommendations and their implementation.

Specify

          Following our own Climate risk analysis, we engage with managers on specific issues/holdings that we view as facing material risk
        

SG 08. RI in performance management, reward and/or personal development (Private)


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