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British Columbia Public Service Pension Board of Trustees

PRI reporting framework 2020

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (B) Implementation: Thematic [LEI 07] (C) Implementation: Integration of ESG factors [LEI 08 - 10] ESG incorporation in passively managed listed equities [LEI 11] Outputs and outcomes [LEI 12 - 13]
Direct - Listed Equity Active Ownership
Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 06] (C) Implementation: Integration [FI 10 - 12] Fixed income - Engagement [FI 14 - 16] Outputs and outcomes [FI 17 - 18]
Direct – Private Equity
Overview [PE 01 - 02] Pre-investment (selection) [PE 05 - 08] Post-investment (monitoring) [PE 09 - 13] Outputs and outcomes [PE 14 - 15]
Direct - Property
Overview [PR 01] Pre-investment (selection) [PR 04 - 06] Selection, appointment and monitoring third-party property managers [PR 07] Post-investment (monitoring and active ownership) [PR 08 - 14] Overview [PR 08] Property monitoring and management [PR 09 - 10] Property developments and major renovations [PR 11] Occupier engagement [PR 12 - 13] Community engagement [PR 14] Outputs and outcomes [PR 15 - 16]
Direct - Infrastructure
Overview [INF 01 - 02] Pre-Investment (Selection) [INF 05 - 09] Post-investment (monitoring and active ownership) [INF 11 - 16] Overview [INF 11] Infrastructure Monitoring and Operations [INF 12 - 14] Infrastructure Maintenance [INF 15] Stakeholder engagement [INF 16] Outputs and outcomes [INF 17 - 18]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Strategy and Governance » Promoting responsible investment

Promoting responsible investment

SG 09. Collaborative organisations / initiatives

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

The Board has been an asset owner signatory to the PRI since June 2019.

  • One Board member is on the steering committee of the Western North America PRI Network.
  • Two trustees attended the Western North America PRI Symposium. One trustee attended the PRI In Person in 2019.
  • The Board is an affiliate/subscriber to the Shareholder Association for Research and Education (SHARE).

The Board's investment agent, BCI, has been a founding PRI signatory since 2006 and is an active member of steering committees and working groups.Collaborative Initiatives:
• Climate Action 100+: Member
• Corporate Reporting Reference Group: Member
• Cyber Security Collaborative Engagement: Member
• Infrastructure Advisory Committee: Member
• Methane Engagement Working Group: Member
• PRI-coordinated Investor Response to Vale dam failure: Member
• Sustainable Stock Exchanges Working Group: Member
• WNA North America Network: Advisory Committee member

Publications: BCI contributed to the discussion paper on Embedding ESG Issues into Strategic Asset Allocation Frameworks.

PRI Event: BCI addressed Western North American PRI Symposium in Los Angeles, U.S. (topic - Implementing the SASB Standards: Investor and Company Case Studies)

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our investment agent, BCI, has been a member since 2005 and participates in regular conference calls with staff and other investor members to stay informed on governance developments in the region and to share their experience and issues of concerns; and BCI supports the association's regulatory efforts by providing comments on public policy submissions and by endorsing submissions to regulators as part of their own submissions.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

As a signatory since 2006 and an investor member since 2016, our investment agent, BCI, contributes financially to the organization. BCI actively encourages companies to align their disclosure with the Carbon Disclosure Project (CDP) framework.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

As a supporting financial member since inception, our investment agent, BCI, uses the information provided by Carbon Disclosure Project (CDP) Water Program to understand how the companies we invest in address risk and opportunities.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our investment agent, BCI, leads/co-leads on North American companies in the oil and gas and mining sectors. BCI supports dialogue as a collaborating investor with North American companies in the oil and gas and utility sectors.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our investment agent, BCI, became a member of the Council of Institutional Investors (CII) in 2017. BCI attends conferences, and participate in conference calls and webinars with staff and other investor members to stay informed on governance developments in the United States. BCI supports the association's regulatory efforts by providing comments on public policy submissions and by endorsing submissions to regulators as part of their own submissions.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our investment agent, BCI, has been an investor signatory since 2011.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our investment agent, BCI's, 100 per cent owned company QuadReal Property Group, (QuadReal), joined GRESB in 2018 and was ranked 1st in Canada and 2nd in North America according to the 2019 GRESB assessment.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

In 2015, our investment agent, BCI, signed onto the Green Bond Principles, as well as the Social Bond Principles. Currently BCI is one of only two listed Canadian investor members. In 2019, BCI participated in members' calls and provided responses to member surveys.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our investment agent, BCI, has been a member since 2005.

 
          Responsible Investment Association - Canada

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our investment agent, BCI, has been a member since 2007.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

The Board is an affiliate/subscriber to the Shareholder Association for Research and Education (SHARE).

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our investment agent, BCI, encourages portfolio companies and BCI's external managers to consider and integrate the principle-based framework into their operations and activities.

 
          Pension Investment Association of Canada (PIAC)

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our investment agent, BCI's, staff holds various roles within the Pension Investment Association of Canada (PIAC), including serving on the board of directors, the investor stewardship committee, and the risk management committee.

 
          Prince of Wales' Accounting for Sustainability Project

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our investment agent, BCI's, CFO joined the Canadian Chapter of this initiative in 2017. BCI is an active participant in A4S and has attended summits and participated in speaking engagements.

 
          30% Club Canada

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our investment agent, BC, has been a member since 2016 -- one of over 280 Canadian chapter members. BCI is also a member of the steering committee and chair investor committee.

 
          Canadian Bond Investors' Association/Association Canadienne des Investisseurs Obligataires

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Our investment agent, BCI, was a founding member since 2011. BCI attended the annual conference and, to strengthen BCI's involvement, have volunteered to be on the member services committee to raise awareness while helping with retention and recruitment.

SG 09.2. Assets managed by PRI signatories (Not Applicable)

SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description 

          Our investment agent, BCI, regularly hosts information events for our board and other clients that include a responsible investing (RI) component. To support education for their BCI employees, they invite guest speakers to discuss RI topics.

Frequency of contribution

Description 

          Several employees from our investment agent, BCI, are actively involved in the University of Victoria Applied Portfolio Management Program, including being a member on the Investment Advisory Committee. Responsible investment is an important part of the guiding principles of the Applied Portfolio Management Program (APMP).  https://www.uvic.ca/gustavson/assets/docs/publications/pgus_apmp_ar2019v5out_web.pdf

Frequency of contribution

Description 

          Our investment agent, BCI, posts policy submissions to their website. Additionally, their Responsible Investing Annual Report contains a list of their policy submissions, including those that pertain to reporting and disclosure.

Frequency of contribution

Description 

          A list of the events our investment agent, BCI, participated in throughout the year is available on BCI's website as reported in their Responsible Investing Annual Report (https://bci.ca/publications). BCI also adds posts to their LinkedIn platform, promoting their speaking engagements on responsible investing.

Frequency of contribution

Description 

          Our investment agent, BCI, encourages their external managers and partners, who are not members, to consider PRI.

Frequency of contribution

Description 

          Our investment agent, BCI, is a member on eight PRI committees/working groups: 
• Climate Action 100+: Member
• Corporate Reporting Reference Group: Member
• Cyber Security Collaborative Engagement: Member
 • Infrastructure Advisory Committee: Member 
• Methane Engagement Working Group: Member 
• PRI-coordinated Investor Response to Vale dam failure: Member 
• Sustainable Stock Exchanges Working Group: Member
• WNA PRI Network: Advisory Committee Member

Frequency of contribution

Description 

          Our investment agent, BCI, is a member of the Sustainability Accounting Standards Board (SASB) Investor Advisory Group.

Frequency of contribution

specify description 

          Our investment agent, BCI, publicly posted BCI's Climate Action Plan (CAP) and Approach to the TCFD Recommendations, and their responsible investing annual report.

Description 

          BCI's CAP builds on over a decade of climate-related work and includes new tools and metrics, and maps our strategy. The document also outlines BCI's alignment with the TCFD recommendations. BCI's Responsible Investing Annual Report provides an account of their activities for 2019, case studies from each asset class, and an overview of BCI's engagement and advocacy initiatives.

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]

In 2019, our investment agent, BCI, actively engaged and responded to media queries that related to responsible investing.

SG 11. Dialogue with public policy makers or standard setters (Private)

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