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First Sentier Investors (including First State Investments)

PRI reporting framework 2020

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Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

The Objectives in the RI Strategy are included in the KPIs for our responsible investment team.  Every three years we undertake a group wide review of the organisational strategy relating to RI.

Monitoring of objectives (KPIs) occurs half yearly through the performance management process for all employees

We publicly disclosure objectives and our performance against them in our annual responsible investment report which is available at: https://www.firststateinvestments.com/global/responsible-investment/responsible-investment-reports-and-policies.html


SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          Roll out of new ESG Portfolio Monitor Reports
        

Progress achieved

We have rolled out new ESG Portfolio Monitor Reports and provided training to staff on the use of these reports. 3 teams are currently using these reports on a regular basis, other teams are using them on an ad hoc basis. All equity teams will be using this tool by the end of 2020.

Key performance indicator

          Improved engagement with RI across the organisation. Measured by feedback from the triennial review of the businesses RI Strategy and progress to date..
        

Progress achieved

  • As part of our RI strategy review in 2019, we identified a need to improve internal communication of RI issues and updates.
  • We have commenced work on developing a more interactive communication approach to actively engage and inform colleagues of key messages, events and activities.

Key performance indicator

          Improved accuracy of engagement data captured.
        

Progress achieved

Teams continue to improve engagement practices by establishing processes and responsibilities for engagement. They are collecting data in a more structured manner and have more systematic processes for reviewing engagements.

In 2019 our Stewart Investors team launched a collaborative engagement on deforestation, in addition to the collaborative engagements it continues to run on plastics (marine pollution) and microinsurance.

Key performance indicator

          1. Implement ESG monitoring systems and processes 
2. Integrate data on climate risk
        

Progress achieved

We continue to integrate data from our external ESG research providers into systems our investment teams are using, as well as our data warehouse and interactive ESG reporting tool. The purpose of this exercise is to enable investment teams to better integrate ESG into their investment decision making processes. We are exploring data requirements for portfolio impact measurement and SDG assessment.

In 2019 the Australian Equities Growth team implemented an enhancement to their ESG risk management by implementing a more rigorous scoring system that incorporates analysts score of E, S and G components. Companies at risk are identified using both external providers and the team's own internally driven research, which is based on a rigorous company meeting program.

Financial performance of investments

ESG characteristics of investments

Other description (1)

          Integrated RI process and ESG assessments into annual investment product reviews.
        

Key performance indicator

          All product reviews to include ESG assessments including ESG derived risks and opportunities
        

Progress achieved

Process now enbedded across all teams annual Product Reviews.

 

Other description (2)

          Improved frequency of RI Steering Group meetings
        

Key performance indicator

          Quarterly RI Steering Group meetings
        

Progress achieved

  • All meetings confirmed.
  • RI Steering Group terms of reference and membership refreshed.

 

 

Other activities

Key performance indicator

          Annual review and assessment of RI initiatives and collaborations
        

Progress achieved

In 2019 two of our employees joined the Australian Sustainable Finance Initiative.

Key performance indicator

          Delivery of annual RI report and PRI report on progress, including case studies.
        

Progress achieved

2019 RI and Stewardship report published

https://www.firststateinvestments.com/global/responsible-investment/responsible-investment-reports-and-policies.html

Key performance indicator

          Addition of case studies to case study map. Regular ESG roundtables.
        

Progress achieved

Case study map -

https://www.firststateinvestments.com/global/responsible-investment/responsible-investment-case-studies.html

In 2019 we also held several roundtables where investment team members shared ESG engagement case studies with the group. We plan to continue these events in 2020.

06.2. Additional information.


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