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Gemway

PRI reporting framework 2020

You are in Direct - Listed Equity Active Ownership » Engagement

Engagement

LEA 02. Reasoning for interaction on ESG issues

Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual / Internal staff engagements
Collaborative engagements
Service provider engagements

02.4. Additional information. [Optional]


LEA 03. Process for identifying and prioritising engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagements.

03.3. Additional information. [Optional]

Engagement is part of our portfolio management. A question about ESG issues is a question of understanding the company. If we have doubts about it, we have doubts about the way the company is run. So we raise the question to the company and we start engagement. It can lead us to divestment. For instance, Gemway divested from a Chinese company, Han's Laser, after news that a supposed to be R&D centre was in fact a luxury hotel. Gemway had many attempts of contact with the company. But the company did not want to discuss the case and the potential accounting creativity that it revealed.


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Indicate whether you define specific objectives for your organisation’s engagement activities.
Individual / Internal staff engagements

04.2. Additional information. [Optional]

As explained earlier, engagement is a test of the trust we can have in the management. So the target is to check the trust we can have in the company and the acuracy of its disclosure, extra-financial or financial.


LEA 05. Process for identifying and prioritising collaborative engagement

Indicate whether you monitor and/or review engagement outcomes.
Individual / Internal staff engagements
Indicate whether you do any of the following to monitor and/or review the progress of engagement activities.
Individual / Internal staff engagements

05.3. Additional information. [Optional]


LEA 06. Role in engagement process

06.1. Indicate whether your organisation has an escalation strategy when engagements are unsuccessful.

06.2. Indicate the escalation strategies used at your organisation following unsuccessful engagements.

06.3. Additional information. [Optional]

If we are not convinced by the answer of the company we decide to divest. It is a question of trust and, in case, lack of trust.


LEA 07. Share insights from engagements with internal/external managers

07.1. Indicate whether insights gained from your organisation`s engagements are shared with investment decision-makers.

Type of engagement

Insights shared

Individual / Internal staff engagements

07.2. Indicate the practices used to ensure that information and insights gained through engagements are shared with investment decision-makers.

07.3. Indicate whether insights gained from your organisation’s engagements are shared with your clients/beneficiaries.

Type of engagement

Insights shared

Individual/Internal staff engagements

07.4. Additional information. [Optional]

The engagement is processed by the portfolio managers. So there is no possible discrepancy between portfolio management and engagement. It is an integrated process. The information related to these engagement is disclosed to our clients annually and upon request.

 

 


LEA 08. Tracking number of engagements

08.1. Indicate whether you track the number of your engagement activities.

Type of engagement
Tracking engagements
Individual/Internal staff engagements​

08.2. Additional information. [Optional]

For every engagement we define a timeline after which we would divest in case of insufficient answer. In 2019, for the engagement related to social risk, we divested in end (Han's Laser). For the engagement related to ESG disclosure


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