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United Nations Joint Staff Pension Fund

PRI reporting framework 2020

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Indirect – Manager Selection, Appointment and Monitoring
Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (B) Implementation: Thematic [LEI 07] (C) Implementation: Integration of ESG factors [LEI 08 - 10] ESG incorporation in passively managed listed equities [LEI 11] Outputs and outcomes [LEI 12 - 13]
Direct - Listed Equity Active Ownership
Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 06] (B) Implementation: Thematic [FI 07 - 09] (C) Implementation: Integration [FI 10 - 12] Fixed income - Engagement [FI 14 - 16] Outputs and outcomes [FI 17 - 18]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Strategy and Governance » Asset class implementation not reported in other modules

Asset class implementation not reported in other modules

SG 16. ESG issues for internally managed assets not reported in framework (Not Applicable)

SG 17. ESG issues for externally managed assets not reported in framework

17.1. Describe how you address ESG issues for externally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved
Fixed income - Corporate (financial)

We have Responsible Investment Guidelines in place for our investments in Fixed Income - Corporate asset class. As per the guidelines, the PMs are required to:

  • Analyze how the company’s operations, products/services and other activities align with UNGC principles
  •  Assess the issuer/sector specific ESG risk factors, especially the climate transition risk and physical risk included in TCFD reporting
  •  Engage regularly with the issuers on material ESG issues
Fixed income - Corporate (non-financial)

We have Responsible Investment Guidelines in place for our investments in Fixed Income - Corporate asset class. As per the guidelines, the PMs are required to:

  • Analyze how the company’s operations, products/services and other activities align with UNGC principles
  • Assess the issuer/sector specific ESG risk factors, especially the climate transition risk and physical risk included in TCFD reporting
  • Engage regularly with the issuers on material ESG issues

Commodities

The Global Commodities fund is covered by Schroders’ relevant firm wide sustainability policy. While ESG considerations cannot be integrated into decisions in the same way as many other asset classes, we recognize the relationship between broader social and environmental trends or risks and commodity markets.  Our investment approach is based on fundamental analysis of individual commodity markets and their drivers, including the impact of environmental factors, social unrest or political risks where these are material to the investment outlook for commodity markets. Our analysis is grounded in the principle of strengthening the returns we generate for our clients, and see its value in the fund’s performance.

Forestry

PRE ACQUISITION

DUE DILIGENCE

  • Applying operating expertise to preliminary  review
  • Deeper due diligence on identified ESG issues
  • Essential analysis in a highly regulated environment
  • An eye to the future

​INVESTMENT COMMITTEE APPROVAL 

  • Obtain mandatory fund-specific approval
  • Outline merits, disclose risks
  • Weigh risks against mitigation strategies

POST ACQUISTION 

TAILOR AN INTEGRATION  PLAN WITH IMPLEMENTATION  TIME FRAMES

For each acquisition, the investment teams create a tailored integration plan that, among other things, ensures that any ESG-related matters are prioritized. 

ACTIVELY MANAGE ESG FACTORS

ESG risks and opportunities are actively managed by the portfolio companies with guidance from our in-house teams. This allows us to draw on local expertise, which provides valuable insight given the wide range of asset types and locations in which we invest. 

FOCUS ON CONTINUED IMPROVEMENT

As long-term investors motivated to drive value creation, we continually look for opportunities to address ESG matters.

OUTPUTS

  • 5% WATER, WASTE AND  ENERGY REDUCTION
  • 3,000 HOURS OF HEALTH & SAFETY TRAINING OF WORKFORCE
  • HOURS OF HEALTH & SAFETY TRAINING OF WORKFORCE ZERO CUMULATIVE TIER 1  AND TIER 2 LOSS OF  PRIMARY CONTAINMENT  (LOPC) INCIDENTS

17.2. Additional information.

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