Where there is RI oversight/accountability the expectation is that each of these parties should be involved with the input of the annual responsible investment goals and the quarterly assessment of the progress to achieving these goals. Another important expectation is to ensure that the investment team integrate and support the principles of the PRI. We also have a formal feedback session to discuss the outcomes of the PRI assessment report to establish how we can improve and build on our responsible investment initiative. The oversight/accountability role is important to influence the direction of the responsible investment initiative and also gain support across the organization.
The implementation responsibilities are key to enable the achievement of the responsible investment goals by way of day-to-day business. The portfolio managers engage directly with their appointed external fund managers and may address their proxy vote actions or ESG material risks that need to be considered in their portfolios. Investment analysts are required from time to time to compare our portfolios to other responsible investment indices and to engage with fund managers when controversial topics arise in the market. The responsible investment staff need to research best practices and approaches to integrate ESG considerations in the investment team and to give practical guidance to the organisation. External fund managers are required to adhere to our responsible investment policy and engage with us on ESG risks that may arise in our portfolios.