ESG considerations are taken into account in the manager-selection process. Managers contending for a mandate are required to fill out an RfP which includes ESG-related questions.

Better-articulated and more-integrated ESG policies, scrutinised in the due diligence process (including resources, staff, systems and databases dedicated to ESG), will compare favourably as part of the aggregate scoring of the manager’s organisation and investment process. As part of the operational due diligence (ODD) process, SAMCo puts emphasis on a thorough review of the manager’s governance structure. The ODD also includes a check on whether the firm is a signatory to the UNPRI which is a preference but not a formal requirement.

Any manager ultimately selected will be required to provide a declaration to refrain from investments in companies that are involved in the manufacture, sale or distribution of cluster munitions and anti-personnel landmines. Furthermore, managers are required to live by the Shell General Business Principles or have equivalent principles in place. These principles are in line with the United Nations Global Compact.

After selection, SCPF - via SAMCo - engages with the managers to ensure ESG considerations remain on their agenda.

Hermes Equity Ownership Services (EOS) undertakes engagement on behalf of SCPF. Engagement with companies is undertaken both for monitoring and influencing purposes and, where relevant, to address strategic issues relevant to long-term value. Hermes EOS's engagements also address the major themes of the environment and governance as well as social and ethical issues. Progress is monitored by reference to a system of 'milestones' to ensure that satisfactory progress is made over a reasonable period of time. On the SCPF website, a quarterly engagement activity overview is provided.

It is SCPF's policy to exercise its voting rights in all practicable cases based on its agreed voting principles. SCPF has delegated voting on entities that it invests in to Hermes EOS. Hermes EOS provides ‘intelligent voting’ services to SCPF. This means that all proxies are voted with reference to the individual circumstances of the company and the vote, rather than by 'box ticking' or as a compliance driven activity. This includes considering the merits of and voting on specific shareholder resolutions. A general report of the voting activities of SCPF can be found on the website. Voting policy is in principle implemented for the entire equity portfolio. In some jurisdictions legal requirements (blocking of shares for extended periods, notarisation requirements etc.) are prohibitive and consequently still obstruct the exercise of voting rights in practice.

ESG considerations are taken into account in the manager-selection process. Managers contending for a mandate are required to fill out an RfP which includes ESG-related questions.

Better-articulated and more-integrated ESG policies, scrutinised in the due diligence process (including resources, staff, systems and databases dedicated to ESG), will compare favourably as part of the aggregate scoring of the manager’s organisation and investment process. As part of the operational due diligence (ODD) process, SAMCo puts emphasis on a thorough review of the manager’s governance structure. The ODD also includes a check on whether the firm is a signatory to the UNPRI which is a preference but not a formal requirement.

Any manager ultimately selected will be required to provide a declaration to refrain from investments in issuers that are not included in the SCPF investable universe (based i.a. on ESG considerations). Furthermore, managers are required to live by the Shell General Business Principles or have equivalent principles in place. These principles are in line with the United Nations Global Compact.

After selection, SCPF - via SAMCo - engages with the managers to ensure ESG considerations remain on their agenda.

ESG considerations are taken into account in the manager-selection process. Managers contending for a mandate are required to fill out an RfP which includes ESG-related questions.

Better-articulated and more-integrated ESG policies, scrutinised in the due diligence process (including resources, staff, systems and databases dedicated to ESG), will compare favourably as part of the aggregate scoring of the manager’s organisation and investment process. As part of the operational due diligence (ODD) process, SAMCo puts emphasis on a thorough review of the manager’s governance structure. The ODD also includes a check on whether the firm is a signatory to the UNPRI - which is a preference but not a formal requirement.

Any manager ultimately selected will be required to provide a declaration to refrain from investments in companies that are involved in the manufacture, sale or distribution of cluster munitions and anti-personnel landmines. Furthermore, managers are required to live by the Shell General Business Principles or have equivalent principles in place. These principles are in line with the United Nations Global Compact.

After selection, SCPF - via SAMCo – engages with the managers to ensure ESG considerations remain on their agenda.

SCPFs approach to the incorporation of ESG considerations in the manager-selection process for Private Equity portfolios is broadly similar to the approach for Listed Equity portfolios (as described above). Furthermore, SCPF - via SAMCo - is involved in various initiatives to bring attention to ESG considerations in the Private Equity industry. For instance, through participation in the Institutional Limited Partners Association (ILPA) which has pushed for topics like approval of conflicts of interests by LPACs and increased disclosure of non-financial sustainability metrics.

SCPFs approach to the incorporation of ESG considerations in the manager-selection process for Real Estate portfolios is broadly similar to the approach for Listed Equity portfolios (as described above). Furthermore, SCPF - via SAMCo - requests its Real Estate managers to participate in the Global Real Estate Sustainability Benchmark (GRESB) survey on an annual basis and engages in conversations with managers on the improvement of their scores. This survey is the leading tool for assessing the ESG characteristics of Real Estate portfolios. SCPF strives for a 100% participation rate among its Real Estate managers. SAMCo reports on the positioning of the SCPF Real Estate portfolio compared with the GRESB.

SCPFs approach to the incorporation of ESG considerations in the manager-selection process for Hedge Fund portfolios is broadly similar to the approach for Listed Equity portfolios (as described above).

SCPFs approach to the incorporation of ESG considerations in the manager-selection process for investments outside the traditional alternative strategies is broadly similar to the approach for Listed Equity portfolios (as described above).