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Shell Contributory Pension Fund

PRI reporting framework 2020

You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes

実施プロセス

LEI 01. Percentage of each incorporation strategy

01.1. 以下を記載してください。(1)組織でのアクティブ運用上場株式にどのESG組み入れ戦略や組み合わせを使用しているか(2)アクティブ運用している上場株式の戦略または戦略の組み合わせ別内訳

ESG組み入れ戦略 (当てはまるものをすべてお選びください)
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
100 %
アクティブ運用している上場株式の合計 200%

01.2. 組織が実施しているESG組み入れアプローチ、および、特定のESG組み入れ戦略を選択している場合はその理由を説明してください。

SCPF uses custom ESG benchmarks for a significant part of its listed equity portfolio. ESG considerations specific to SCPF are integrated in the construction methodology of these benchmarks.

Furthermore, all SAMCo Equity portfolio managers have access to MSCI ESG data. This includes ESG Ratings, Controversy Scores, Climate Change Metrics and Research. The data is used as input for portfolio monitoring - with both internal & external portfolios in scope - and is considered as part of the risk/return analysis when making investment decisions. Practical implementation differs depending on the type of equity portfolio. For fundamental portfolios, this will entail a review and discussion of available data points and research reports, potentially combined with company engagement. For quantitative portfolios, the focus will be on data analyses. As an example, quant portfolio managers use SAMCo-developed rebalancing software to analyse the ESG positioning impact (loadings ‘before’ and ‘after’) of a potential trade.

In addition, Hermes EOS monitors the companies in which SCPF invests in order to ensure that they are taking appropriate steps to produce sustainable financial returns for shareholders. Hermes EOS also seeks to identify any situation where long-term shareholder value may be compromised due to unsatisfactory environmental, social and ethical performance or the risk of governance or strategic failure. Hermes EOS also takes account of the extent to which companies are demonstrating alignment with the general principles of the United Nations Global Compact. Where concerns are raised through the monitoring processes, or through another channel, Hermes EOS considers engagement with the company in question.

Finally, SCPF has an exclusion list that consists of companies involved in the manufacture, sale or distribution of cluster munitions and anti-personnel landmines as well as companies that are divested/excluded because of controversial conduct/UNGC non-compliance combined with unsuccessful engagement (or direct divestment in case of overtly unacceptable activities).

01.3. ESG組み入れ戦略の組み合わせを使用して資産を運用している場合、ESG戦略の組み合わせをどのように使用しているかを簡単に説明してください。 [任意]


LEI 02. Type of ESG information used in investment decision (Private)


LEI 03. Information from engagement and/or voting used in investment decision-making (Not Completed)


A) 実施:スクリーニング

LEI 04. Types of screening applied

04.1. 組織内でアクティブ運用している上場株式に適用するスクリーニングの種類を記載し、説明してください。

スクリーニングの種類

スクリーニング実行者

説明

SCPF does not invest in companies involved in the manufacture, sale or distribution of cluster munitions and anti-personnel landmines.

スクリーニング実行者

説明

Governance positioning is taken into account in the custom ESG benchmark methodology that is used for a significant part of the listed Equity portfolio.

スクリーニング実行者

          Shell General Business Principles (SGBP), aligned with UNGC.
        

説明

Hermes EOS assesses all companies in SCPF's portfolios for breaches of generally recognised responsibilities and norms under UN treaties (with an explicit reference to the UN Global Compact/SGBP) and for other behaviours which are deemed unsustainable. The screening process will be supplemented by an in-depth assessment of a company’s activities by a member of the Hermes EOS team. Where a company’s activities are found clearly to conflict with English law or with international treaties ratified by the British parliament, this will be reported by Hermes EOS to SAMCo on behalf of SCPF. This may result in one of two outcomes:

-A decision to engage with the company with a view to having the company desist from that activity. Unsuccessful engagement (after a reasonable time) can lead to divestment; or

-In exceptional circumstances where conduct is overtly unacceptable, an immediate decision to divest from the company. 

04.2. スクリーニング基準が変更された場合に顧客や受益者に通知する方法について説明してください。

The screening criteria, as well as the international codes/principles used as guidelines, are described in the RI policy, which is available on the SCPF website.


LEI 05. Processes to ensure screening is based on robust analysis

05.1. スクリーニングが徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを選択してください。

05.2. ESGスクリーニング戦略の一環で包括的なESG調査の対象となるアクティブ上場株式ポートフォリオの割合を示してください。

05.3. 第三者のESG評価がスクリーニング目的で更新される頻度を示してください。

05.4. 組織のESGスクリーニングを構築するための組織内リサーチを精査する頻度を示してください。

05.5. 補足情報 [任意]


LEI 06. Processes to ensure fund criteria are not breached (Not Completed)


C) 実施: 統合

LEI 08. Review ESG issues while researching companies/sectors

08.1. E・S・Gの各要因が投資分析の一環として体系的に調査されている、アクティブ運用の上場株式ポートフォリオの割合を記載してください。

ESG問題

影響を受ける割合
E(環境)

E(環境)

S(社会)

S(社会)

コーポレートガバナンス

コーポレートガバナンス

08.2. 補足情報 [任意]


LEI 09. Processes to ensure integration is based on robust analysis

09.1. ESG統合が徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを記載してください。

09.2. 組織の統合戦略の一環で包括的ESG調査の対象になるアクティブ運用上場株式の割合を記載してください。

09.3. ESG統合戦略に使われる第三者のESG評価が更新される頻度を示してください。

09.5. ポートフォリオ・マネージャーがどのようにしてESG情報を保有し、使っているのか説明してください。

09.6. 補足情報 [任意]


LEI 10. Aspects of analysis ESG information is integrated into (Private)


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