We make a distinction between a discussion with a company on a sustainability issue (this could be a request for further information) and a formal engagement. The latter occurs when an issue has been identified by our investment team as posing a material risk to core business profitability or minority shareholder returns, and requires an engagement to try and reduce the risk, potentially enhancing the value of our investment. This is more formal process (internally for SCM), where we identify the aim of the engagement and a series of waymarkers and a timeline for progress on the issue. Ultimately if the risk remains very high and the company doesn't to act or prove us wrong, we will sell the stock. The team log discussions and formal engagements in a database.