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United Nations Joint Staff Pension Fund

PRI reporting framework 2020

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投資ポリシー

SG 01. RI policy and coverage

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

01.1. 責任投資アプローチをカバーする投資ポリシーを策定しているかどうかを明示してください。

01.2. ポリシーの構成要素/種類と対象範囲を示してください。

当てはまるものをすべて選択してください。
ポリシーの構成要素/種類
AUMの対象範囲

01.3. 投資ポリシーが以下のどの項目をカバーしているか明示して下さい:

01.4. 組織の投資原則および全体の投資戦略、受託者義務(または同等のもの)の解釈、ならびに、ESGファクターおよび実体経済の影響をどのように考慮に入れているかについて説明してください。

"In pertinent part, the Fund’s approved risk appetite states that “The Fund has very low appetite for the risk of losing its long-term sustainability and not being able to meet its long-term financial commitments.

Investment Objectives take into account observations and suggestions made by the General Assembly and the Pension Board, as reviewed and interpreted by the Investments Committee are as follows: Safety, Profitability, Convertibility & Liquidity "...

The broader driving objective for the UNJSPF's assets is to maintain long-term profit sustainability consistent within a pre-determined risk parameter; and, investment exposures that do not account for the future sustainability of the real economy will be adversely impacted the Fund’s ability to offset long-term liabilities. Therefore, policies that support sustainable investment initiatives that meets the targeted risk/return objective is central to the Fund’s approach and fiduciary duty. 

"As part of an international organization committed to social progress, better living standards and human rights and as a founding signatory to the United Nations supported Principles for Responsible Investment (PRI) Initiative and in association with the United Nations Global Compact (UNGC) and the UNEP Finance Initiative (UNEP FI) - OIM acknowledges its responsibility to society."

See SG01.3B
 
 

01.5. 責任投資アプローチをカバーする組織の投資ポリシーの重要な構成要素、バリエーション、例外事項を簡潔に説明してください。[任意]

General Assembly Mandate:
 
Pursuant to General Assembly Resolutions 31/197 in 1976 and 32/73 B in 1977, the General Assembly requests the Secretary-General to redouble his efforts in consultation with the Investments Committee, to ensure that, subject to careful observance of the requirements of safety, profitability, liquidity and convertibility, and in strict conformity with the Regulations of the UNJSPF, a larger proportion of the investment of the resources of the Fund is made in developing countries.

Sustainable Investment Approach:

The Sustainability practices of the Office of Investment Management (OIM) grow out of our belief that institutional investors need to incorporate a holistic approach to sustainability into their investment beliefs, strategy, process, systems, data and decision-making within a global economy.

The UNJSPF’s Investment Policy Statement (IPS) addresses environmental, social and governance (ESG) concerns by explicitly prohibiting investments in the tobacco and armaments sectors, while it does not mandate divestment in other areas. The Fund acknowledges its responsibility to society as part of a global organization committed to social progress by being a founding signatory to the Principles for Responsible Investment (PRI). The fund is also associated with the United Nations Global Compact (UNGC) and the UN Environment Program (UNEP) Finance Initiative.

By deploying an active voting and engagement policy which supports UN initiatives and communities, the UNJSPF can more effectively impact positive and sustainable change consistent with our mission. The Fund believes in an effective dialogue with company management in order to affect corporate behavior and advocate for better outcomes. This encouragement and engagement policy does not mean that the Fund may never reach the conclusion to divest, but such decisions would be based on a comprehensive analysis. The engagement can take time and presents unique challenges, but OIM believes that it is more effective in the long-term and results in greater internal impact.

Tobacco & Armanents Restrictions:

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.

Thermal Coal Restriction Exclusion:

OIM will 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. Further policy details will be announced in 2020.

Coal as a source of energy is becoming less economically viable, posing a financial risk to our portfolio, with the costs of renewable sources of energy predicted to undercut commissioned coal almost everywhere by 20301. Phasing out of coal is a primary driver in the effort to support a global energy system scenario consistent with the 2015 Paris Agreement drafted by the parties to the United Nations Framework Convention on Climate Change (UNFCCC). This action will contribute to the attainment of the 2015 United Nations Sustainable Development Goals (SDGs).

01.6. 補足情報 [任意]

          OIM made several changes across investment policy formulation, investing guidelines, training and procedures. The OIM implemented SI terms of reference (ToR) enhancements to the Investment Policy Statement (IPS) in paragraphs 6, 50 and 66-70, the Internal Investment Committee (IIC) and Private Markets Committee (PMC) sustainable policy enhancements to the Terms of References (ToR's).
        

SG 01 CC. Climate risk (Private)


SG 02. Publicly available RI policy or guidance documents

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

02.1. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。

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02.2. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。

URL/添付ファイル

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02.3. 補足情報 [任意]

New Website: https://oim.unjspf.org/

OIM Investment Policy Statement (IPS) revision is complete and reflects all relevant material ESG matters. The revised IPS was published and signed on the 6th of August by the Representative Secretary-General for the Assets of the UNJSPF after consultation with stakeholders. 

https://oim.unjspf.org/wp-content/uploads/2019/08/IPS-2019.pdf

As of 2019, OIM is officially a member of SASB and GRESB. These strategic partnerships will provide the foundation to OIM's material approach to  E, S & G factors. In addition, OIM has already integrated MSCI ESG materiality matrices into its aforementioned processes.

Press Releases: https://oim.unjspf.org/report/press-release-unjspf-is-expanding-esg-partnerships/

The OIM 2019 Report on Sustainable Investing Report summarizes our sustainable investing strategy:

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

 


SG 03. Conflicts of interest

03.1. 組織として、投資プロセスにおける潜在的な利益相反を管理するポリシーを策定しているかどうかについて明示して下さい。

03.2. 投資プロセスにおける潜在的な利益相反を管理するポリシーについて説明してください。

OIM adopted an Anti-Fraud and Anti-Corruption Policy in 2016, which applies strict rules and guidelines for matters involving conflict of interest. In addition, OIOS conducted an antifraud assessment throughout the investment organisation, which resulted in further fraud control framework enhancement. OIM is in the process of finalizing a Reputational Risk Policy.

https://oim.unjspf.org/risk-management/compliance/

OIM has updated their website in 2019 to improve transparency and disclosure:

https://oim.unjspf.org/risk-management/compliance/

https://oim.unjspf.org/risk-management/risk-management-approach/

 

 

03.3. 補足情報 [任意]

https://oim.unjspf.org/wp-content/uploads/2019/08/IPS-2019.pdf


SG 04. Identifying incidents occurring within portfolios (Private)


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