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Environment Agency Pension Fund

PRI reporting framework 2020

You are in Indirect – Manager Selection, Appointment and Monitoring » Appointment

Appointment

SAM 04. Appointment processes (listed equity/fixed income)

04.1. Indicate if in the majority of cases and where the structure of the product allows, your organisation does any of the following as part of the manager appointment and/or commitment process

04.2. Provide an example per asset class of your benchmarks, objectives, incentives/controls and reporting requirements that would typically be included in your managers’ appointment.

Asset class

Benchmark

          For our passive equities we use MSCI Low Carbon Target.
        

ESG Objectives

          We ask candidates to explain their technical capacity to take account of environmental, social and governance issues at the Expression of Interest, Request for Proposal and interview stages.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        
          We interview the key decision-makers in the candidate's investment team. These include:
• the fund manager who will be responsible for the portfolio on a day-to-day basis
• the ESG lead
• the client contact.
We firmly request that potential mangers avoid providing generic marketing material about their company's strengths and experiences. Our selection process focuses on the particular details that are relevant to us. We question them in great depth about their experience and approach to ESG issues. In particular we look at:
• their practical experience
• their level of understanding
• the relative importance of ESG issues in their decision-making processes.
        
          Quarterly and annually an account of the manager's engagement undertaken on ESG issues.
        
          Quarterly and annually an account of the manager's voting undertaken on ESG issues.
        
          This is part of the requirements of tender documentation and is ensured through legal requirements.
        
          The action here is bespoke depending on the manager.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        

Incentives and controls

Reporting requirements

Benchmark

          FTSE Index Linked >15year
        

ESG Objectives

          We ask candidates to explain their technical capacity to take account of environmental, social and governance issues at the Expression of Interest, Request for Proposal and interview stages.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        
          We interview the key decision-makers in the candidate's investment team. These include:
• the fund manager who will be responsible for the portfolio on a day-to-day basis
• the ESG lead
• the client contact.
We firmly request that potential mangers avoid providing generic marketing material about their company's strengths and experiences. Our selection process focuses on the particular details that are relevant to us. We question them in great depth about their experience and approach to ESG issues. In particular we look at:
• their practical experience
• their level of understanding
• the relative importance of ESG issues in their decision-making processes.
        
          Quarterly and annually an account of the manager's engagement undertaken on ESG issues.
        
          This is part of the requirements of tender documentation and is ensured through legal requirements.
        
          The action here is bespoke depending on the manager.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        

Incentives and controls

Reporting requirements

Benchmark

          iBoxx Sterling Non Gilt
        

ESG Objectives

          We ask candidates to explain their technical capacity to take account of environmental, social and governance issues at the Expression of Interest, Request for Proposal and interview stages.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        
          We interview the key decision-makers in the candidate's investment team. These include:
• the fund manager who will be responsible for the portfolio on a day-to-day basis
• the ESG lead
• the client contact.
We firmly request that potential mangers avoid providing generic marketing material about their company's strengths and experiences. Our selection process focuses on the particular details that are relevant to us. We question them in great depth about their experience and approach to ESG issues. In particular we look at:
• their practical experience
• their level of understanding
• the relative importance of ESG issues in their decision-making processes.
        
          Quarterly and annually an account of the manager's engagement undertaken on ESG issues.
        
          This is part of the requirements of tender documentation and is ensured through legal requirements.
        
          The action here is bespoke depending on the manager.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        

Incentives and controls

Reporting requirements

Benchmark

          iBoxx Sterling Non Gilt
        

ESG Objectives

          We ask candidates to explain their technical capacity to take account of environmental, social and governance issues at the Expression of Interest, Request for Proposal and interview stages.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        
          We interview the key decision-makers in the candidate's investment team. These include:
• the fund manager who will be responsible for the portfolio on a day-to-day basis
• the ESG lead
• the client contact.
We firmly request that potential mangers avoid providing generic marketing material about their company's strengths and experiences. Our selection process focuses on the particular details that are relevant to us. We question them in great depth about their experience and approach to ESG issues. In particular we look at:
• their practical experience
• their level of understanding
• the relative importance of ESG issues in their decision-making processes.
        
          Quarterly and annually an account of the manager's engagement undertaken on ESG issues.
        
          This is part of the requirements of tender documentation and is ensured through legal requirements.
        
          The action here is bespoke depending on the manager.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        

Incentives and controls

Reporting requirements

Benchmark

          iBoxx Sterling Non Gilt
        

ESG Objectives

          We ask candidates to explain their technical capacity to take account of environmental, social and governance issues at the Expression of Interest, Request for Proposal and interview stages.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        
          We interview the key decision-makers in the candidate's investment team. These include:
• the fund manager who will be responsible for the portfolio on a day-to-day basis
• the ESG lead
• the client contact.
We firmly request that potential mangers avoid providing generic marketing material about their company's strengths and experiences. Our selection process focuses on the particular details that are relevant to us. We question them in great depth about their experience and approach to ESG issues. In particular we look at:
• their practical experience
• their level of understanding
• the relative importance of ESG issues in their decision-making processes.
        
          Quarterly and annually an account of the manager's engagement undertaken on ESG issues.
        
          This is part of the requirements of tender documentation and is ensured through legal requirements.
        
          The action here is bespoke depending on the manager.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        

Incentives and controls

Reporting requirements

Benchmark

          MSCI World
        

ESG Objectives

          We ask candidates to explain their technical capacity to take account of environmental, social and governance issues at the Expression of Interest, Request for Proposal and interview stages.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        
          We interview the key decision-makers in the candidate's investment team. These include:
• the fund manager who will be responsible for the portfolio on a day-to-day basis
• the ESG lead
• the client contact.
We firmly request that potential mangers avoid providing generic marketing material about their company's strengths and experiences. Our selection process focuses on the particular details that are relevant to us. We question them in great depth about their experience and approach to ESG issues. In particular we look at:
• their practical experience
• their level of understanding
• the relative importance of ESG issues in their decision-making processes.
        
          Quarterly and annually an account of the manager's engagement undertaken on ESG issues.
        
          This is part of the requirements of tender documentation and is ensured through legal requirements.
        
          The action here is bespoke depending on the manager.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        

Incentives and controls

Reporting requirements

Benchmark

          Retail Price Index
        

ESG Objectives

          We ask candidates to explain their technical capacity to take account of environmental, social and governance issues at the Expression of Interest, Request for Proposal and interview stages.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        
          We interview the key decision-makers in the candidate's investment team. These include:
• the fund manager who will be responsible for the portfolio on a day-to-day basis
• the ESG lead
• the client contact.
We firmly request that potential mangers avoid providing generic marketing material about their company's strengths and experiences. Our selection process focuses on the particular details that are relevant to us. We question them in great depth about their experience and approach to ESG issues. In particular we look at:
• their practical experience
• their level of understanding
• the relative importance of ESG issues in their decision-making processes.
        
          Quarterly and annually an account of the manager's engagement undertaken on ESG issues.
        
          This is part of the requirements of tender documentation and is ensured through legal requirements.
        
          The action here is bespoke depending on the manager.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        

Incentives and controls

Reporting requirements

Benchmark

          Retail Price Index
        

ESG Objectives

          We ask candidates to explain their technical capacity to take account of environmental, social and governance issues at the Expression of Interest, Request for Proposal and interview stages.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        
          We interview the key decision-makers in the candidate's investment team. These include:
• the fund manager who will be responsible for the portfolio on a day-to-day basis
• the ESG lead
• the client contact.
We firmly request that potential mangers avoid providing generic marketing material about their company's strengths and experiences. Our selection process focuses on the particular details that are relevant to us. We question them in great depth about their experience and approach to ESG issues. In particular we look at:
• their practical experience
• their level of understanding
• the relative importance of ESG issues in their decision-making processes.
        
          Quarterly and annually an account of the manager's engagement undertaken on ESG issues.
        
          This is part of the requirements of tender documentation and is ensured through legal requirements.
        
          The action here is bespoke depending on the manager.
        
          We have our own model investment management agreement (IMA). This makes it clear how managers should implement our RI Policy - as well as our disclosure and reporting requirements. It is straightforward to use our own IMA in segregated mandates. When we use collective investment vehicles (pooled funds) we work with the providers to make sure we are able to monitor such portfolios from an ESG perspective.
        

Incentives and controls

Reporting requirements

04.3. Indicate which of these actions your organisation might take if any of the requirements are not met

04.4. Provide additional information relevant to your organisation`s appointment processes of external managers. [OPTIONAL]

          
        

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