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First Sentier Investors (including First State Investments)

PRI reporting framework 2020

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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

          Regional Managing Directors, Team heads
        

Other description (1)

          RI Representative per investment team
        

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

Roles with oversight accountability exercise their responsibilities through representation on the Global Responsible Investment Steering Group and their functional business leadership.

Roles with implementation responsibilities are investment professionals who are required to integrate ESG considerations and stewardship practices within their investment responsibilities. 

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

3 Number

07.4. Additional information. [Optional]

RI representation is also undertaken by the analysts in the investment teams, some of whom dedicate the majority of their time to engagement or other implementation responsibilities. However, they are primarily analysts, and therefore have not been included in the "number of dedicated investment staff". 


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

Chief Executive Officer (CEO), Chief Investment Officer (CIO), Chief Risk Officer (CRO), Investment Committee

Other Chief-level staff or heads of departments

Portfolio managers

Investment analysts

Dedicated responsible investment staff

Other role, specify (1)

          RI Representative per investment team
        

07.6 CC. For board-level roles that have climate-related issue oversight/accountability or implementation responsibilities, indicate how these responsibilities are executed.

Board members are provided with infomation on investment risks from our investment assurance team prior to every board meeting.  These risks include ESG risks including those relating to climate change.  The information available to the board members includes an overview of the carbon exposure of all FSI's equity funds compared to their respective benchmarks.  Non Executive board members of the UK business are regularly invited to attend ESG and climate related training and education sessions.  In addition, board members comprise an important target segment of the businesses RI  Learning and Development plan which was agreed in Q4 2019.  

FSI believe that Non Executive board members at Holding Co and Fund Board levels should have an understanding and an awareness of how climate related (and ESG) issues comprise sources of risk and return and therefore directly influence the long term performance of FSI's investment strategies and overall business.

 

 

07.7 CC. For management-level roles that assess and manage climate-related issues, provide further information on the structure and processes involved.

ESG Impacts Committee - Climate Change Working Group

In late 2015 a climate change working group was established as a subgroup of the ESG committee. The group includes members from a cross section of our investment teams. The group is charged with developing guidance for all investment teams on the integration and management of climate change risks and opportunities.

 

ESG Committee - Stranded Assets Working Group (Completed)

In late 2013 we established a stranded assets working group which like the climate change working group comprised a cross section of investment teams to develop guidance. The group developed guidance which we described in our 2015 responsible investment and stewardship report.

 

Responsible Investment (RI) Specialists

The RI team helps support investment teams in a number of ways as it relates to climate change. The team also distributes research, provides advice and engages with clients and the industry on climate change related issues and feed these back into the organisation through the teams. The team also leads our work with industry groups and other stakeholders on climate change related activities. We are active members of the Investor Group on Climate Change (IGCC) among others. The IGCC conduct national and international policy advocacy, investor engagement and education, and outreach to other important stakeholders.


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.

Board members/Board of trustees

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

Chief Executive Officer (CEO), Chief Investment Officer (CIO), Chief Operating Officer (COO), Investment Committee

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

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

Other C-level staff or head of department

          Regional Managing Directors, Team heads
        

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

Dedicated responsible investment staff

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

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

Other role (1) [from SG 07]

          RI Representative per investment team
        

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.


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