Please explain why you do not engage directly and do not require external managers to engage with companies on ESG factors.
The majority of the Plan’s fixed interest and cash assets are debt instruments issued by
Australian federal or state governments, government instrumentalities, supranationals and
banks. The bank exposure is predominantly investments in securities issued by the “big four”
Australian banks. The Plan’s ownership of these fixed interest and cash investments does not
allow it to exert significant influence over the environmental, social or governance practices of
the governments or companies concerned.