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BT Funds Management (NZ) Limited

PRI reporting framework 2020

You are in Strategy and Governance » Promoting responsible investment

Promoting responsible investment

SG 09. Collaborative organisations / initiatives

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

  • BTNZ became a signatory in late 2017 and submitted it's first Transparency Report in March 2019.
          The Responsible Investment Association Australasia (RIAA)
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

  • BTNZ attended the launch of the RIAA benchmark report in August 2019 
  • BTNZ faciliated a panel session on ESG insights and trends to watch at the RIAA Auckland conference in September 2019.
  • BTNZ has subsequently had discussions with RIAA regarding membership, certification and how BTNZ can contribute more detailed information for the annual RIAA benchmark report. Discussions regarding membership and certification are ongoing.
          Tobacco-Free Portfolios
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

  • BTNZ is a signatory to the Tobacco-Free Finance Pledge and continues to encourage our investment managers globally to join.
  • BTNZ intends on applying for the Verified Tobacco-Free certification stamp when this is available outside of Australia. BTNZ continues to follow up with the initiative when this will be.
          Financial Services Council
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

  • BTNZ representative is on the Board of the FSC, involved in actively promoting the initiative.
  • The FSC is the voice of New Zealand's financial services industry.
  • The strategic intent is to support strong and sustainable consumer outcomes, sustainabilty of the financial services sector and increase the professionalism and trust of the industry.
  • The FSC Code of Conduct was developed and launched in 2018 with the aim of; lifting the professionalism of the financial services industry; helping Members deliver good customer outcomes; increasing trust and confidence in the financial services industry; enabling more New Zealanders to build, manage and protect their wealth; building a sustainable financial services industry. BTNZ was heavily involved in the development and launch of the Code.
          Aotearoa Circle and Climate Change Leaders Coalition
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

  • WNZL is a founding partner of these two intiatives.
  • The Aotearoa Circle is a public / private initiative to halt and reverse the decline of New Zealand's natural capital, launched late 2018. It is focused on six domains: Sustainable Finance, Land and Soil, Freshwater, Climate Change, Biodiversity and Marine.
  • The Climate Leaders Coalition was launched in July 2018 and is being used to fulfil the ‘Climate Change’ domain of the Aotearoa Circle. 76 Chief Executives have so far signed the joint statement, which commits their organisations to take voluntary action on climate change, including measuring and publicly reporting their greenhouse gas emissions, setting a public emissions reduction target, and working with suppliers to reduce their emissions.

SG 09.2. Assets managed by PRI signatories

Indicate approximately what percentage (+/- 5%) of your externally managed assets under management are managed by PRI signatories.

100 %

SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description

          WNZL/BTNZ submitted a reponse to the Ministry of Business, Innovation and Employment on the Review of the KiwiSaver Default Provider Arrangements. This included views on Responsible Investment information that may be required to help investors understand how products differ from a responsible investment perspective.

WNZL submitted a response to the Financial Markets Authority on the proposed guidance on green bonds and other responsible investment products. This included views waht governance arrangements should be in place to support these products. WNZL responded that product issuers should substantiate the claims made in their disclosure materials, including third party verification, to assist with comparability, and to avoid greenwashing and a misalignment with investor expectations.
        

Frequency of contribution

Description

          Responsible Investment Association Australasia (RIAA) Conference - Auckland, New Zealand - September 2019. BTNZ facilitated a panel discussion on ESG insights and trends to watch.
        

Frequency of contribution

Description

          100% of BTNZ's assets under management are managed by PRI signatories. BTNZ are currently engaging with a new investment manager who is not a PRI signatory. BTNZ have had conversations with the investment manager regarding their Responsible Investment policy and practises, as well as encouraging them to join the PRI.
        

Frequency of contribution

Description

          BTNZ representative is on the Financial Services Council Board
        

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]

  • Encouraged IMs to increase their reporting on ESG integration and company engagement.

SG 11. Dialogue with public policy makers or standard setters

11.1. Indicate if your organisation - individually or in collaboration with others - conducted dialogue with public policy makers or regulators in support of responsible investment in the reporting year.

If yes

11.2. Select the methods you have used.

11.3. Where you have made written submissions (individually or collaboratively) to governments and regulatory authorities, indicate if these are publicly available.

11.4. Provide a brief description of the main topics your organisation has engaged with public policy-makers or regulators on.

  • WNZL/BTNZ submitted a reponse to the Ministry of Business, Innovation and Employment on the Review of the KiwiSaver Default Provider Arrangements. This included views on implementing responsible investment in the portfolios, including views on costs, returns, and different implementation options such as exclusions. See URL above.
  • WNZL submitted a response to the Ministry for Environment's consultantion paper on climate-related financial disclosures and supported the submission made by the NZ Bankers Association. See URL above.
  • WNZL submitted a response to the Financial Markets Authority on the proposed guidance on green bonds and other responsible investment products. This included views on; what are the key features that make a financial product green, ethical or otherwise responsible; key risks associated with these products; what certifications, standards and/or exclusions would make a product green, ethical or responsible; what should disclosure for an RI product look like and how do we ensure investors are not misled; what are the key quesitons investors should ask about RI products; what governance arrangements should be in place; and what should be included in the product offer documentation. Submissions not yet made publically available.

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