This report shows public data only. Is this your organisation? If so, login here to view your full report.

United Nations Joint Staff Pension Fund

PRI reporting framework 2020

Export Public Responses
Pdf-img

You are in Organisational Overview » Asset class implementation gateway indicators

Asset class implementation gateway indicators

OO 10. Active ownership practices for listed assets

10.1. Select the active ownership activities your organisation implemented in the reporting year.

Listed equity – engagement

Listed equity – voting

Fixed income SSA – engagement

Fixed income Corporate (financial) – engagement

Fixed income Corporate (non-financial) – engagement

Fixed income Corporate (securitised) – engagement


OO 11. ESG incorporation practices for all assets

11.1. Select the internally managed asset classes in which you addressed ESG incorporation into your investment decisions and/or your active ownership practices (during the reporting year).

Listed equity

Fixed income - SSA

Fixed income - corporate (financial)

Fixed income - corporate (non-financial)

Fixed income - securitised

Cash

Money market instruments

Select the externally managed assets classes in which you and/or your investment consultants address ESG incorporation in your external manager selection, appointment and/or monitoring processes.
Asset class
ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes
Listed equity

Listed equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - SSA

Fixed income - SSA - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (financial)

Fixed income - corporate (financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (non-financial)

Fixed income - corporate (non-financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Private equity

Private equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Property

Property - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Infrastructure

Infrastructure - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Commodities

Commodities - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Forestry

Forestry - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

11.4. Provide a brief description of how your organisation includes responsible investment considerations in your investment manager selection, appointment and monitoring processes.

OIM’s external advisors for private markets integrate a comprehensive analysis of ESG issues into their due diligence process. The due diligence process includes a comprehensive review of an investment sponsor’s commitment to and implementation of ESG principles.

During the planning and due diligence process, the OIM Private Markets (Private Equity + Real Estate + Real Assets) and their respective advisers requests the completion of an ESG questionnaire for prospective investments. An internal ESG review occurs in the later stage of our investment process and is critical in the final analysis when presented at the internal investment committees

Specifically, OIM is a member of GRESB/SASB and utilizes their reporting metrics when performing due diligence on potential and current indirect managers.

For 2020, OIM is finalizing the due diligence process for ESG leadership manager selection.

11.5. For your externally managed pooled funds, describe any mechanisms in place to set expectations as part of the appointment or commitment process.

OIM has a fully integrated sustainable investment policy and guidelines, which include due diligences processes and appointments for external managers across all asset classes.


OO 12. Modules and sections required to complete

12.1. Below are all applicable modules or sections you may report on. Those which are mandatory to report (asset classes representing 10% or more of your AUM) are already ticked and read-only. Those which are voluntary to report on can be opted into by ticking the box.

Core modules

RI implementation directly or via service providers

Direct - Listed Equity incorporation

Direct - Listed Equity active ownership

Direct - Fixed Income

RI implementation via external managers

Indirect - Selection, Appointment and Monitoring of External Managers

Closing module

12.2. Additional information. [Optional]

Integration Across Asset Classes

Engagement through Encouragement, Non-Governmental Organization (NGO) Collaboration and Proxy Voting

As a founding signatory to the United Nations’ Principles of Responsible Investing or PRI since 2006, the UNJSPF incorporates environmental, social and governance (ESG) considerations throughout the investment decision-making process.

For internally managed equity and fixed income portfolios, OIM created a robust five-stage process that is tailored around PRI’s recommended integration for security analysis and valuation. This framework includes additional unique features constructed and optimized for OIM’s custom ESG requirements for internal and external investments respectively:

  1. ESG Index and Universe Screening: Reputational risk management and controversies screening individual companies radar
  2. Portfolio Analytics: Carbon foot-printing, customized controversies screening, stranded asset analysis and Sustainable Development Goals (SDG) impact analysis
  3. Robust ESG Metrics Database: Sourcing and consolidating material ESG data points to enhance fundamental and valuation analysis, both ex-post and ex-ante
  4. Company Analysis: Qualitative and quantitative peer analysis on company and prospective holdings integrated into investment rationale and company risk due diligence
  5. Corporate Engagement: ESG material summary conclusions validating quantitative and qualitative empirical conclusions from corporate one-on-one engagements reconciled to proxy voting action and corporate strategy

OIM’s external advisors for private markets integrate a comprehensive analysis of ESG issues into their due diligence process. The due diligence process includes a robust review of an investment sponsor’s commitment to and implementation of ESG principles.

During the planning and due diligence process, the OIM Alternatives Team and their respective advisers requests the completion of an ESG questionnaire for prospective investments. An internal ESG review occurs in the later stage of our investment process and is critical in the final analysis when presented at the internal investment committees

OIM began its ESG journey by restricting investments in tobacco and armaments, and has expanded our focus so that each asset class maintains a core ESG assessment covering fundamental, valuation, risk and due diligence analysis. In 2019, OIM also committed to divest from investments in publicly-traded companies in the coal energy sector by 31 December 2020. Additionally, OIM shall not make any new investments in the coal energy sector across all asset classes.

A key part of our approach to sustainable investing is the belief that portfolios which integrate material ESG metrics in their investment rationale have the potential to provide returns that are superior to those of conventional portfolios, while exhibiting lower risk over the long term. This view is supported by academic research and literature. More information on our approach to sustainable investing can be found in our 2018 Report on Sustainable Investing:

https://oim.unjspf.org/wp-content/uploads/2019/07/OIM-Sustainable-Investing-report-2018-online.pdf


Top