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KBI Global Investors

PRI reporting framework 2020

You are in Direct - Listed Equity Active Ownership » Outputs and outcomes

Outputs and outcomes

LEA 09. Number of companies engaged with, intensity of engagement and effort

Indicate the proportion of companies in your listed equities portfolio with which your organisation engaged during the reporting year.
We did not complete any engagements in the reporting year.

Number of companies engaged

(avoid double counting, see explanatory notes)

Proportion of companies engaged with, out of total listed equities portfolio

Individual / Internal staff engagements

37
3.9

Collaborative engagements

300
30

09.2. Indicate the breakdown of engagements conducted within the reporting year by the number of interactions (including interactions made on your behalf).

No. of interactions with a company
% of engagements
One interaction
2 to 3 interactions
More than 3 interactions
Total
100%

09.3. Indicate the percentage of your collaborative engagements in which you were the leading organisation during the reporting year.

Type of engagement

% leading role
  Collaborative engagements

09.5. Additional information. [Optional]


LEA 10. Engagement methods

10.1. Indicate which of the following your engagement involved.

10.2. Additional information. [Optional]


LEA 11. Examples of ESG engagements

11.1. Provide examples of the engagements that your organisation or your service provider carried out during the reporting year.

ESG Topic
Diversity|Other governance
Conducted by
Objectives

To increase board independence and diversity as the company has an all-male board, and several of the board members have a tenure of over 12 years, bringing board level independence below 25%.  

Scope and Process

We wrote a letter to the Head of Investor Relations and Financial Analysis and asked the company to appoint a female director to increase board independence and diversity. 

Outcomes
ESG Topic
Climate Change|Other

specify

          
        
Conducted by
Objectives

The production process of polysilicon, a key component for solar modules, is very energy intensive and the company uses coal for all of its energy supply. Our objective is for the company to reduce dependence on coal as an energy source. 

 

Scope and Process

We met the company that manufactures polysilicon and raised our concerns. It is looking at various options including installing its own solar plant.

Outcomes
ESG Topic
Sustainability reporting
Conducted by
Objectives

Request disclosure of environmental data to the CDP. 

 

Scope and Process

We engaged with the large oil company in China, writing to a Director on the Office for the Board of Directors requesting that it report its carbon emissions and climate related data to the CDP. The company submitted its first response to the CDP Climate Change survey in 2019.  

Outcomes
ESG Topic
Water risks
Conducted by
Objectives

To review water conservation measures

 

Scope and Process

We contacted the Philippines company providing water, sanitation, and sewerage services, to underline our view that the company's water utility should concentrate on conservation measures in dealing with a severe supply/demand imbalance in its region. The company replied with comprehensive info on its response to the crisis and has committed to provide further information.

Outcomes
ESG Topic
Climate Change
Conducted by
Objectives

To curb emissions, strengthen climate-related financial disclosures and improve governance on climate change.

Scope and Process

As part of Climate Action 100+, we are one of the lead investors engaging with this large Italian manufacturer and distributor of electricity and gas. We asked the company to divest from coal and to give the market a firm timeline for this. In November 2019, the company updated its 2020-22 strategic plan, and announced that it will be accelerating its planned investment in renewables and its phase out of coal generation, committing to reduce production by 74% in 2022 (vs 2018). We have had several interactions with the company, including detailed discussions on several aspects of the CA100+ agenda, with an interesting discussion in particular on the political implications of closing its coal-fired power plants.

Outcomes
ESG Topic
Climate Change
Conducted by
Objectives

The chemical sector is one of the biggest industries in the world and the largest industrial user of energy. The high demand of energy, combined with its reliance on petrochemicals makes the sector one of the biggest emitters of carbon. The objective in engaging with the large multinational chemical company is to curb emissions, strengthen climate-related financial disclosures and improve governance on climate change.

Scope and Process

As part of Climate Action 100+, we are one of the lead investors engaging with this multinational chemical company. We initiated contact with the company via a letter introducing CA100+.  We participated in a meeting with the company’s Head of Investor Relations and SVP Research and Development, Technology and Sustainability in the Netherlands in Dec 2019 to discuss Climate Action 100+ objectives and goals and the company’s plans.

Outcomes

11.2. Additional information. [Optional]


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