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United Nations Joint Staff Pension Fund

PRI reporting framework 2020

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You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (A) Implementation: Screening

(A) Implementation: Screening

FI 04. Types of screening applied

04.1. Indicate the type of screening you conduct.

Select all that apply
SSA
Corporate (financial)
Corporate (non-financial)
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

04.2. Describe your approach to screening for internally managed active fixed income

We follow several types of screenings:

Investments in the tobacco industry: 
 Investments in companies that derive any revenue from the production of tobacco and that primarily deal with manufacturing and distribution of tobacco and tobacco related products are prohibited. 
 
Investments in armaments or other military equipments: 

The Fund shall not invest in securities of companies that derive any revenue from the production of military weapons, weapons systems or weapons of mass destruction, including nuclear, chemical or biological weapons, or derive more than 10 per cent of their revenue from the production of customized components for purposes of the production of military weapons, weapons systems or weapons of mass destruction.

The fund will not be investing in companies deriving more than 10% of their revenues from the mining of thermal coal.

https://oim.unjspf.org/report/unjspf-press-release-united-nations-joint-staff-pension-fund-announces-divestment-from-coal-energy-sector/

-Credit Ratings Screening: Securitized products are screened first on the basis of their credit ratings. We focus mostly on AAA rated securities with minor allocations to A and BBB rated securities if they are well-diversified.

Country Screening: Governance issues in countries are used for screening especially in SSA.

ESG Analysis: We engage with issuers on several key points:  valuation, sector and issuer analysis (ESG), duration, and SSA risk mitigation. 

 

04.3. Additional information. [Optional]


FI 05. Examples of ESG factors in screening process (Private)


FI 06. Screening - ensuring criteria are met

06.1. Indicate which systems your organisation has to ensure that fund screening criteria are not breached in fixed income investments.

Type of screening
Checks
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

06.2. Additional information. [Optional]


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