This report shows public data only. Is this your organisation? If so, login here to view your full report.

Lifeyrissjodur Verzlunarmanna (Pension Fund of Commerce)

PRI reporting framework 2020

You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          Clearlake Capital Partners VI (CCP)
        
Conducted by
Asset class
Scope and process

CCP was required to answer ILPA's DDQ with additional ESG questions from LV.  Initially the ESG implementation looked insufficient but by discussions and CCP's appointment of MALK as their ESG advisore LV felt that CCP was on the right track with regards to ESG implementation in the investment and managing process.  LV also conducted interviews with other LP's who came to the same conclusion, i.e. that CCP was moving in the right direction with regards to ESG.  As a precautionary measure, LV also inserted an ESG clause into LV's and CCP's side letter stating that LV is an UNPRI signatory and that CCP should adhere to the principles in the manner possible.

Outcomes

A decision to invest was agreed upon by the board of LV, based on the side-letter clause mentioned above.

09.2. Additional information.


Top