Monitoring of ESG issues is not conducted at the manager level but rather as part of proxy voting and engagement programs in which the CEPP participates which are covered in the Socially Responsible Investment Policy (attached for reference) Although no ESG monitoring activities have taken place in the reporting year, the approach adopted by the managers regarding ESG issues are considered as part of the manager selection process.
In the event that an Investment Manager declines to expressly consider ESG standards in its securities selections, the JBT will consider this as an adverse indication when evaluating the Investment Manager’s performance.