This report shows public data only. Is this your organisation? If so, login here to view your full report.

Australian Capital Territory

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

          Executive Branch Manager
        

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

Treasury is part of the Chief Minister, Treasury and Economic Development Directorate of the ACT Government. The financial investment operations of Treasury are not performed by a seperate legal entity.  As such there are no statutory Board members or trustees, or Chief Investment Officer or Chief Operating Officer roles. Treasury is directly responsible for the management of the ACT Government's financial investment activities. Treasury develops responsible investment policy, has oversight and accountability for all responsible investment activities and practices, as well as responsibility for implementation in conjunction with external service providers. 

The Investment Advisory Board is a non-statutory, advisory board. Therefore the Board has general oversight of Treasury's responsible investment implementation, policy and practices but does not have direct accountability or responsibility for policies or implementation activities. 

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

0 Number

07.4. Additional information. [Optional]

Due to limited internal budget resources and personnel, as well as the comprehensive Responsible Investment policy framework in place, Treasury does not require a dedicated, full time responsible investment staff member.

 


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

Other Chief-level staff or heads of departments

Portfolio managers

Investment analysts

External managers or service providers

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


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

08.1. Indicate if your organisation’s performance management, reward and/or personal development processes have a responsible investment element.

Other C-level staff or head of department

          Executive Branch Manager
        

08.1a. RI in objectives, appraisal and/or reward

08.1b. RI in personal development and/or training plan

Portfolio managers

08.1a. RI in objectives, appraisal and/or reward

08.1b. RI in personal development and/or training plan

Investment analysts

08.1a. RI in objectives, appraisal and/or reward

08.1b. RI in personal development and/or training plan

08.3. Provide any additional information on your organisation’s performance management, reward and/or personal development processes in relation to responsible investment.

Performance management or reward processes in relation to responsible investment activities are not relevant to ACT public sector remuneration or operational structures. Performance management and/or reward processes within Treasury are part of the broader arrangements that apply to all staff across the whole of the ACT public sector, with all Directorate operations funded by annual Budget appropriation in accordance with legislative arrangements. Standard Directorate governance arrangements apply across the ACT public sector, as well as standard remuneration policies in accordance with enterprise agreements developed in the context of the ACT public sector workforce.

The Investment Advisory Board is not a statutory board and there are no trustees.  Remuneration of board members is determined independently by a Statutory Remuneration Tribunal in accordance with the Remuneration Tribunal Act 1995.

Treasury has key budget accountability indicators in relation to responsible investment outcomes and provides access to ongoing training and development activities for personnel.

08.4. Describe the level of experience board members/trustees/chief-level staff have with incorporating ESG factors into investment decision-making processes.

          The Investment Advisory Board, a non-statutory Board, was established to provide advice to Treasury on the financial investment assets managed by the Directorate on behalf of the ACT Government.  The Board Charter outlines the role of the Board members and requires experience in responsible investment principles and practices.  Board members have extensive investment industry experience in both senior executive and governance roles, with broad-based investment governance skills and direct experience in the incorporation of ESG issues and risks into the investment decision-making processes, in both the private and public sectors.

Senior staff in Treasury have extensive experience with incorporating ESG factors into investment decision-making processes through becoming a Signatory to the PRI in 2008, working with external ESG research and analysis service providers, working with fund managers across a broad range of asset classes, developing and implementing custom ESG listed share index benchmarks in conjunction with a global index vendor, as well as working with and implementing a Sustainable proxy voting policy framework in conjunction with a global proxy voting advisor.
        

Top