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Railways Pension Trustee Company Limited

PRI reporting framework 2020

You are in Strategy and Governance » Promoting responsible investment

責任投資の促進

SG 09. Collaborative organisations / initiatives

09.1. 報告年度に組織がメンバーであったり、参加していた協働組織やイニシアチブ、ならびにそこで組織が果たした役割のレベルを選択してください。

当てはまるもの全てを選択してください

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

We were a member of PRI’s cybersecurity engagement steering group and an active participant in the initiative.

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

We are a strong advocate for ACGA's work and participate regularly on investor calls.

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

We were the first non-Australian based pension fund member of ACSI and continue to be strong advocate for their work. We received voting advice from ACSI as an ACSI member in 2019 voting season.

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

During 2019 we incorporated CDP in our global voting policy and met with the secretariat.

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

We engaged with one company as part of the non-discloser engagement initiative.

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

In 2017, Railpen signed up to Climate Action 100+ a five-year climate risk initiative intended to co-ordinate pressure on companies to cut greenhouse gas emissions, and improve disclosure and oversight of climate-related risks. Climate Action 100+ is aligned with the TCFD, which we are proud to support.

Railpen is the European sector lead for Construction Materials. We engaged with CRH and Heidelberg Cement in 2019.

  • Heidelberg Cement became the first cement company globally to set a verified science-based target to 2030, and a goal to achieve carbon neutrality by 2050. Heidelberg also committed to reviewing its public policy work to ensure it is Paris-aligned.

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Long standing international member of CII. We serve on the Corporate Governance Advisory Committee and attended the March conference. We also dial into multiple CGAC calls throughout the year.

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

We attended meetings and participated in collective engagements. We also spoke on behalf of other Eumedion members at Unilever and RELX’s AGMs.

  • Our RELX statement can be accessed here: https://www.rpmirailpen.co.uk/wp-content/uploads/2018/05/RELX-AGM-25-April-19-Question_F.pdf.
  • Our Unilever statement can be accessed here: https://www.rpmirailpen.co.uk/wp-content/uploads/2018/05/Unilever-AGM-2-May-19-Question_F.pdf

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Railpen has been long-standing member and participant of GIGN.

A member of our Sustainable Ownership team presented a section on the conference call sharing a digest of the UK voting season in 2019. 

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Regular attender at meetings of IIGCC and co-sign collective letters. Participate in Corporate program. We are the European sector lead for Construction Materials for CA100+, which is facilitated through IIGCC.

We were lead authors for The Investor Expectations for Construction Materials. This can be accessed here: https://www.iigcc.org/download/investor-expectations-of-construction-materials-sector/?wpdmdl=2213&refresh=5e3d4c9a8ede31581075610

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

We engaged with Marathon Petroleum as part of the CDP water engagement coordinated by ICCR.

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

We incorporated their Global Governance Principles into our 2019 voting policy.

Members of our team attended the ICGN Global Conference in London in December 2019. Additionally, we were nominated for the ICGN Global Stewardship Disclosure Award for Asset Owners at the ICGN Global Stewardship Awards 2019.

          UKSIF
        

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

One staff member served on the Analyst Committee. Another staff member presented at UKSIF’s London Conference in November.

          Workforce Disclosure Initiative
        

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

We attended the WDI working group. We also encouraged Ryanair to disclose to WDI during multiple engagements.

          Transition Pathway Institute
        

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Railpen was a member of the steering committee in 2019 and has provided input to the initiative's strategy. We also incorporated TPI research within our 2019/20 voting policy and have raised the initiative in our active ownership work.

          30% Club
        

イニシアチブにおける組織の報告年度の役割(定義を参照)

組織のイニシアチブへの関与の度合について、簡単に説明してください。[任意]

Railpen strongly advocates the 30% gender diversity target through our voting policy. Railpen is a regular attendee at meetings and participant in collective engagements.


SG 09.2. Assets managed by PRI signatories (Private)


SG 10. Promoting RI independently

10.1. 組織が、協働的イニシアチブとは別に、独自に責任投資を推進しているかどうかについて記載して下さい。

10.2. 組織が協働的イニシアチブとは別に、独自に責任投資を推進するために行っているものを明示して下さい。選択した行動の目的に貢献するために組織が果たす役割と通常の行動頻度について説明して下さい。

説明

          An offsite was held with all senior investment professionals where content was delivered by leading ESG investment practitioners. This led to a number of tangible actions on how to integrate ESG into the investment process.
        

行動の頻度

説明

          A member of the team contributed to an academic paper entitled ‘Coordinated Engagements’ by Elroy Dimson, Oğuzhan Karakaş and Xi Li. In addition, Professor Andreas G. F. Hoepner presented the findings of his paper ‘Academic Evidence: ESG Engagement and Downside Risk’ at our Sustainable Ownership offsite.
        

行動の頻度

説明

          We monitor the ESG practices of a selection of our external managers each year, on a rolling sample basis. The managers are assessed as to how ESG is integrated into the investment process, on their active ownership activities and their approach to climate. The exercise may result in a specific request e.g. that the Manager consider committing to a specific initiative such as the UK Stewardship Code or PRI. In one case the Manager was not willing to commit to becoming a signatory to the 2012 UK Stewardship Code, but they are evaluating becoming a signatory of the 2020 Code
        

行動の頻度

説明

          Members of the team spoke at the following:

UKSIF London Analyst Conference 2019 

Divest or Engage? Strategies for Responsible Investing organised by The Centre for Endowment Asset Management (CEAM) - https://www.jbs.cam.ac.uk/ceam-divestorengage/

Our CIO spoke at Investors, Firms and ESG organised by The University of Oxford - https://www.sbs.ox.ac.uk/sites/default/files/2019-04/investorsfirmsandesg2019.pdf
        

行動の頻度

説明

          We are a supporter of Just Transition, and have committed to take account of the social dimension of the transition to a low-carbon economy, which we referenced in the Investor Expectations for Construction Materials we authored. The report is available here: https://www.rpmirailpen.co.uk/wp-content/uploads/2018/05/Investor-Expectations-of-Companies-in-the-Construction-Materials-Sector.pdf/. 

In 2019, Railpen worked with the UK pension fund NEST to share insights on how a number of leading UK pension funds currently address the topic. The report includes suggested questions that Trustees can put to their asset managers and portfolio companies. The report also encourages pension funds to: 

•	Consider the risks as part of pre-investment due diligence 
•	Engage portfolio companies as an active owner 
•	Reflect cyber security in voting n Promote research and understanding on the topic
•	Hold fund managers to account. 

The report is available here: https://www.rpmirailpen.co.uk/wp-content/uploads/2018/05/Railpen-Nest-Cyber-Security-Report.pdf.
        

行動の頻度

説明

          We are a named respondent to the Investment Association’s Responsible Investment Framework. The Framework is available here: https://www.theia.org/sites/default/files/2019-11/20191118-iaresponsibleinvestmentframeworkglossary.pdf.
        

行動の頻度

説明

          One staff member served on the UKSIF Analyst Committee and one served on the PLSA stewardship advisory group. We also participated in the PLSA working group on ESG advice for trustees: https://www.plsa.co.uk/Portals/0/Documents/Policy-Documents/2019/ESG-and-Stewardship-A-practical-guide-to-trustee-duties-2019-v2.pdf
        

行動の頻度

10.3. 組織が責任投資の推進のために、報告年度中に参加した追加の活動およびイニシアチブがあれば、それらを記載して下さい。[任意]

We participated in collective engagements alongside the 30% Club, the UK Investor Forum, Eumedion and the Investment Association.

A staff member was interviewed for T. Rowe Price’s ‘Active Pioneers’ study.


SG 11. Dialogue with public policy makers or standard setters (Private)


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