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British Columbia Public Service Pension Board of Trustees

PRI reporting framework 2020

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Pre-investment (selection)

PE 05. Incorporating ESG issues when selecting investments

05.1. During due-diligence indicate if your organisation typically incorporates ESG issues when selecting private equity investments.

05.2. Describe your organisation`s approach to incorporating ESG issues in private equity investment selection.

Our investment agent, BCI's, investments in private equity are often made with a long-term outlook. As ESG issues can develop over time and affect companies, sectors and regions, assessing these factors is integral to their due diligence process for examining opportunities. In addition to financial performance, BCI assesses the governance model of the prospective acquisition and commissions detailed reports on legal, environmental, regulatory, and social factors. Potential risks are incorporated into our investment strategy. Depending on their ownership position, BCI may also play a more active role in addressing these risks with the companies.

05.3. Additional information. [Optional]


PE 06. Types of ESG information considered in investment selection

06.1. Indicate what type of ESG information your organisation typically considers during your private equity investment selection process.

06.2. Describe how this information is reported to, considered and documented by the Investment Committee or similar.

All our investment agent, BCI's, memos include a section on ESG considerations. The content will be situation specific, depending on the nature of items uncovered during the due diligence process and what material ESG issues are identified. In some cases ESG factors will be considered to have a limited impact and in others there may be specific areas flagged with additonal work performed. The diligence can be completed by BCI, BCI's partner or have external expert advisors commissioned.


PE 07. Encouraging improvements in investees (Private)


PE 08. ESG issues impact in selection process (Private)


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