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Australian Capital Territory

PRI reporting framework 2020

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

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories

08.1. Describe how you ensure that best RI practice is applied to managing your assets

Measures

          Approximately 95% of Treasury investment assets are managed by fund managers that are signatories to the PRI. Being a signatory requires continual improvement in responsible investment practices over time.
        

08.2. Additional information. [Optional]


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          Investment Stewardship
        
Conducted by
Asset class
Scope and process

In selecting and appointing a specialist listed equity index manager as part of the procurement process Treasury required evidence and examples of investment stewardship.

Outcomes

The appointed index manager provided a copy of their Investment Stewardship policy, as well as a copy of their annual Investment Stewardship report which highlighted the manager's principles, company engagement activity and proxy voting history.

Topic or issue
          Land Rehabilitation
        
Conducted by
Asset class
Scope and process

Ongoing monitoring of an infrastructure manager and discussion of construction project environmental impact management.

Outcomes

Infrastructure manager provided information and plans in relation to the rehabilitation of 120 hectares of land to offset any construction ecological impacts including expansion of wetlands to support frog habitats and ground parrot populations. 

Topic or issue
          Damage to physical assets from signficant rain fall event
        
Conducted by
Asset class
Scope and process

Ongoing monitoring of an infrastructure manager and discussion of assets impacted by floods.

Outcomes

Infrastructure manager provided information and analysis of physical damage from a significant rainfall event.  Physical damage to a solar farm was very minimal as the infrastructure had been designed to withstand a 1-in-100 year flood event with only a short disruption to regular maintenance activities due to the amount of standing water. 

Topic or issue
          Adoption of ESG Policy
        
Conducted by
Asset class
Scope and process

Ongoing monitoring of a private equity manager to promote and employ ESG practices in portfolio company investments.

Outcomes

General Partner will require each portfolio company to adopt an ESG policy with monitoring by the Board on an ongoing basis.

Topic or issue
          Property Assets - NABERS Energy and Water Ratings
        
Conducted by
Asset class
Scope and process

Ongoing monitoring of a property investment manager and discussion of asset energy and water efficiency.

Outcomes

Property investment manager disclosed the Shopping Centre Fund achieved a weighted average NABERS Energy rating of 4.0 stars and weighted average NABERS Water rating of 3.1 stars. The Fund has met its 2020 NABERS Energy rating target but is still short of the NABERS Water rating target of 3.5 stars (which is targeted to be achieved by Dec 2020).

Topic or issue
          ESG Initiatives
        
Conducted by
Asset class
Scope and process

Ongoing monitoring of property investment manager and discussion of ESG initiatives.

Outcomes

The investment manager detailed paticipation in the NSW EPA funded Bin Trim program which includes creating a tailored action plan for a property asset based on a waste and recycling assessment, with the aim to maximise recycling opportunities and mimise waste to landfill by engaging with tenants.

Topic or issue
          Climate Risk - Task Force on Climate-Related Financial Disclosures
        
Conducted by
Asset class
Scope and process

Ongoing monitoring of the specialist listed equity index manager and discussion of climate risk.

Outcomes

The investment manager has consistently advocated and engaged with companies for climate risk disclosures that align with industry-established reporting frameworks, such as TCFD.

09.2. Additional information.


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