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United Nations Joint Staff Pension Fund

PRI reporting framework 2020

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ゲートウェイ資産クラス実施指標

OO 10. Active ownership practices for listed assets

10.1. 報告年度において組織が実施した積極的な保有活動(アクティブ・オーナーシップ)を選択してください。

上場株式 – エンゲージメント

上場株式 – 議決権行使

債券SSA – エンゲージメント

債券 - 社債(金融) – エンゲージメント

債券 - 社債(非金融) – エンゲージメント

債券 - 社債(証券化) – エンゲージメント


OO 11. ESG incorporation practices for all assets

11.1. 投資決定や積極的な保有の実務に(報告年度中に)ESGの組み入れを行った組織内で運用される資産クラスを以下から選択してください。

上場株式

債券 – SSA

債券 - 社債(金融)

債券 - 社債(非金融)

債券 - 証券化商品

現金

短期金融市場商品

報告年度中に組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有に取り組んだ場合は、組織外で運用される資産クラスを選択してください。
アセット・クラス
組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有
上場株式

組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有

債券 – SSA

組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有

債券 – 社債 (金融)

組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有

債券 – 社債 (非金融)

組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有

プライベートエクイティ

組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有

不動産

組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有

インフラ

組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有

コモディティ

組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有

森林

組織外の運用会社の選定、指名や、モニタリングプロセスにおいてESGの組み入れや積極的な保有

11.4. 投資マネジャーの選定、任命、モニタリングプロセスに、投資に関する考慮事項がどのように含まれているかを簡単に説明してください。

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. 組織外で運用されるプール型ファンドについて、指名またはコミットメント・プロセスの一部として期待値を設定する他の仕組みについて記載してください(任意)。

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. 自主的な報告を希望される場合には、該当するするモジュールやセクションを以下のリストから選択して下さい。組織のAUMの10%以上を占める資産クラスについてのみ報告が義務付けられています。

中核的なモジュール

直接またはサービスプロバイダーを経由したRI実施

自己運用 - 上場株式の組入れ

自己運用 - 上場株式の積極的な保有

自己運用 – 債券

外部の運用会社を経由したRI実施

委託 - 組織外の運用会社の選定、指名、モニタリング

終了モジュール

12.2. 補足情報 [任意]

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


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