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United Nations Joint Staff Pension Fund

PRI reporting framework 2020

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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes » (A) Implementation: Screening

(A) Implementation: Screening

LEI 04. Types of screening applied

04.1. Indicate and describe the type of screening you apply to your internally managed active listed equities.

Type of screening

Screened by

Description

Tobacco, thermal coal, and armament restrictions. 

OIM has developed a Thermal Coal Divestment Strategy that will be implemented this year and will stay in effect going forward. As per the strategy, the fund will not be investing in companies deriving more than 10% of their revenues from the mining of thermal coal.

 

Screened by

Description

OIM has developed an internal methodology to enable both positive as well as negative screenings of securities. We have developed dashboards for all the equity teams on which the teams can monitor various ESG as well as fundamental metrics together corresponding to each of the securities in their relevant benchmarks/ portfolios. These dashboards allow the teams to screen securities based on both ESG and fundamental factors. The ESG metrics being provided are sourced from the best in class ESG data providers such as MSCI ESG, RepRisk, Bloomberg, SASB, Entelligent, Arabesque, ISS Proxy Voting.

OIM is not only holistically integrating ESG analysis into current process, but has also applied complete system metrics to the past eights years on the active equity portfolio thereby constructing a history from which the Fund can measure its progress retroactively against itself and peers.

Screened by

Description

OIM examines social, environmental, governance, and ethical issues on a case-by-case basis, taking special regard for the effects proposed actions will have on the corporation’s long-term value, costs and the financial well being of beneficiaries.  Risks to the company’s short-and/or long-term value arising from social, environmental, governance and/or ethical issues should be identified and assessed and companies should institute policies and procedures aimed at mitigating the risks associated with these issues.

04.2. Describe how you notify clients and/or beneficiaries when changes are made to your screening criteria.

The screening criteria is ultimately decided upon by the Representative of the Secretary-General for the Investments of the UNJSPF in consultation with the Fund's Investments Committee and Office of Investment Management staff.


LEI 05. Processes to ensure screening is based on robust analysis

05.1. Indicate which processes your organisation uses to ensure ESG screening is based on robust analysis.

05.2. Indicate the proportion of your actively managed listed equity portfolio that is subject to comprehensive ESG research as part your ESG screening strategy.

05.3. Indicate how frequently third party ESG ratings are updated for screening purposes.

05.4. Indicate how frequently you review internal research that builds your ESG screens.

05.5. Additional information. [Optional]

The United Nations Joint Staff Pension Fund holistically integrates ESG into the entire lifecycle of the internal equity investment process. Honoring the Fund’s commitment to PRI, UNEP FI, and UNGC, as outlined in the IPS, the OIM considers ESG as standard due diligence risk exercise within the overall investment process, including risk monitoring, universe selection and stock selection.


LEI 06. Processes to ensure fund criteria are not breached (Private)


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