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Shell Contributory Pension Fund

PRI reporting framework 2020

You are in Direct - Listed Equity Active Ownership » Engagement

Engagement

LEA 02. Reasoning for interaction on ESG issues

Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual / Internal staff engagements
Collaborative engagements
Service provider engagements

02.2. Indicate whether your organisation plays a role in the engagement process that your service provider conducts.

02.3. Indicate the role(s) you play in engagements that your service provider conducts on your behalf.

02.4. Additional information. [Optional]

SCPF actively monitors and reviews the activities of service provider Hermes EOS through calls or meetings and regular reports. Furthermore, SCPF feeds into the engagement selection process (e.g. through participation in the Client Advisory Council) and - in certain instances - gives a steer with regard to specific engagements in the case of serious incidents.


LEA 03. Process for identifying and prioritising engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagements.

Indicate the criteria used to identify and prioritise engagements for each type of engagement.
Type of engagement
Criteria used to identify/prioritise engagements
Individual / Internal staff engagements

Individual / Internal staff engagements

Service-provider engagements

Service-provider engagements

specify

          See below under "Additional information".
        

03.3. Additional information. [Optional]

Our service provider Hermes EOS further considers the additionality of its engagement, the feasibility of engagement and its potential impact (voting rights). Considerations that support our decision to use a service provider include: alleviating the resource burden of engagement, the ability to have greater impact on ESG issues and the potential to enhance knowledge of ESG issues through collaboration and by being part of a larger network.


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Indicate whether you define specific objectives for your organisation’s engagement activities.
Individual / Internal staff engagements
Service-provider engagements

04.2. Additional information. [Optional]

SCPF feeds into the engagement selection process of service provider Hermes EOS. Hermes EOS conducts engagements using specific milestone-driven objectives for most companies in its engagement programme.


LEA 05. Process for identifying and prioritising collaborative engagement

Indicate whether you monitor and/or review engagement outcomes.
Individual / Internal staff engagements
Service-provider engagements
Indicate whether you do any of the following to monitor and/or review the progress of engagement activities.
Service-provider engagements

05.3. Additional information. [Optional]


LEA 06. Role in engagement process

06.1. Indicate whether your organisation has an escalation strategy when engagements are unsuccessful.

06.2. Indicate the escalation strategies used at your organisation following unsuccessful engagements.

          See below, under "Additional information".
        

06.3. Additional information. [Optional]

Our service provider Hermes EOS continually reviews the progress of its engagements and considers whether to intensify efforts and escalate the engagement (incl. through voting actions) or discontinue the objectives as the situation demands. Our service provider keeps us informed of the progress through quarterly reporting as well as a client portal. In the case of controversial conduct/UNGC non-compliance, unsuccessful engagement (after a reasonable time) can also lead to divestment.


LEA 07. Share insights from engagements with internal/external managers (Not Completed)


LEA 08. Tracking number of engagements

08.1. Indicate whether you track the number of your engagement activities.

Type of engagement
Tracking engagements
Individual/Internal staff engagements​
Service-provider engagements

08.2. Additional information. [Optional]

Hermes EOS's regular reporting provides full disclosure on the number of engagements conducted on our behalf.


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