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National Employment Savings Trust (NEST)

PRI reporting framework 2020

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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]

2019

NEST participated in a webinar on ESG in private debt

NEST met the PRI team as part of its research on cyber security 

2020

NEST spoke at the PRI London Forum on the panel Climate change: managing risk and preparing for the low carbon transition in Feb

NEST is in discussions about joining the PRI Palm Oil Working Group

Engaging with the PRI on the Inevitable Policy Response (IPR) Initiative
 

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]

Used CDP data to road test the accuracy of the data used in the methodology of our climate aware fund

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]

NEST is an active member of the initiative and regularly attends meetings and updates. In 2020 NEST carried out engagements with emerging markets metals & mining companies alongside other Climate 100+ investor group members.

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]

We expect our real estate managers to submit data to GRESB and perform well against the benchmark,.

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]

Nest is part of the equity and fixed income 1.5C portfolio group and strategic asset allocation committee.

Involved with engaging with companies and policy makers collaboratively

 
          UKSIF

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]

We are an affiliated member of UKSIF and a member of the Analyst Committee

 Attended an UKSIF organised conference on ownership day

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]

Companies in severe and consistent breach of the UN global compact principles will be considered for exclusion or excluded within certain mandates.   

 
          UK Pension Fund roundtable

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]

We attend quarterly meetings to discuss RI issues with other asset owners. We have been involved in the publication of the guide to responsible investment in public equity which has been very well received.

 
          Stewardship Advisory Group - PLSA

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]

We are actively involved in the PLSA's work and sit on their Master Trust Committee. We also were part of the working group that helped input into the development of ESG trustee guidance and the PLSA's Stewardship and Voting Guide 2020.

 
          30% club investor group

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]

Attend quarterly meetings

Led on an engagement with Centrica in which we wrote a letter to the chair, signed by 30% club members, regarding female board representation earlier in the year. Nest was offered a meeting which took place in September 2019.

collating best practice examples on reporting

SG 09.2. Assets managed by PRI signatories (Private)

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 

          We provided more information about RI to our members through dedicated reporting and customer engagement. We provided trustee training on RI.

We also ran a RI week at NEST, inviting all employees across the organisation and invited external speakers to educate the attendees about key ESG themes, such as sugar and obesity.

Frequency of contribution

Description 

          We get financial support to undertake academic research on challenges faced by DC savers – impact of members’ pensions

Frequency of contribution

Description 

          We actively participated in the consultation on the FRC's new Stewardship Code, which encourages more transparency on stewardship activities within the UK's investment industry.

Frequency of contribution

Description 

          We have participated as speakers on panels such as the PRI climate conference, the LBS event on executive pay and AIMSE conference. We were also interviewed on Asset TV on the topic of ESG in fixed income.

Frequency of contribution

Description 

          We wrote a review of the ethical fund market

Frequency of contribution

Description 

          Articles have been published on Nest's decision to divest from Tobacco,  its concerns about companies not paying the living wage and its position on climate change.

Frequency of contribution

Description 

          We are on the PLSA advisory committee, the AMT Stewardship Working Group, the Corporate Reporting Advisory Group and the FRC Audit and Assurance Council.

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]

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

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