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Blue Harbour Group, L.P. (Delisted)

PRI reporting framework 2020

You are in Direct - Listed Equity Active Ownership » Engagement

Engagement

LEA 02. Reasoning for interaction on ESG issues

Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual / Internal staff engagements
Collaborative engagements
Service provider engagements

02.4. Additional information. [Optional]

We engage directly with our portfolio companies.  We have had numerous back and forth discussions with our companies seeking data on their ESG programs and policies.  We use this data as part of our investment decision making process.  We also provide feedback and support to our companies.  Sometimes we may be seeking to change their policies or procedures with regard to ESG. Sometimes we may be helping them better report or disclose existing policies and procedures.  An example in human capital management, might include asking for relevant metrics such as turnover rates, engagement scores, or health and safety data.  We would then consider this in the context of the industry, for example, how does the company's turnover compare with peers.  We may then suggest disclosure of this information as part of the company's ESG strategy.


LEA 03. Process for identifying and prioritising engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagements.

Indicate the criteria used to identify and prioritise engagements for each type of engagement.
Type of engagement
Criteria used to identify/prioritise engagements
Individual / Internal staff engagements

Individual / Internal staff engagements

03.3. Additional information. [Optional]

Because we are engaging with each company, we establish a list of the most material ESG factors.  This is related specifically to the business model of the portfolio company.  We may also vary the number and degree of our engagements with a company based on its size in our portfolio.  We also have ESG conscious clients that may ask for assistance engaging with one of our portfolio companies.


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Indicate whether you define specific objectives for your organisation’s engagement activities.
Individual / Internal staff engagements

04.2. Additional information. [Optional]


LEA 05. Process for identifying and prioritising collaborative engagement

Indicate whether you monitor and/or review engagement outcomes.
Individual / Internal staff engagements
Indicate whether you do any of the following to monitor and/or review the progress of engagement activities.
Individual / Internal staff engagements

05.3. Additional information. [Optional]


LEA 06. Role in engagement process

06.1. Indicate whether your organisation has an escalation strategy when engagements are unsuccessful.

06.2. Indicate the escalation strategies used at your organisation following unsuccessful engagements.

          We can escalate from a discussion with management, to a discussion with some directors, to seeking a meeting with the full board.
        

06.3. Additional information. [Optional]

Because we are a meaningful shareholder, these direct discussions can be effective.  We have also joined the board in several cases where we can directly influence policy.


LEA 07. Share insights from engagements with internal/external managers

07.1. Indicate whether insights gained from your organisation`s engagements are shared with investment decision-makers.

Type of engagement

Insights shared

Individual / Internal staff engagements

07.2. Indicate the practices used to ensure that information and insights gained through engagements are shared with investment decision-makers.

          The investment decision makers are the ones doing the engagement.
        

07.3. Indicate whether insights gained from your organisation’s engagements are shared with your clients/beneficiaries.

Type of engagement

Insights shared

Individual/Internal staff engagements

07.4. Additional information. [Optional]

We are the investment manager of our funds; we do not use external managers.  The people conducting the engagement with investments are also the same ones making the buy and sell decisions, so the same core team has all the information.  Our clients will ask us from time to time about particular ESG issues impacting a certain company or industry or ask about insights we have gained from our diligence process and from our ongoing engagements with management teams and boards. We also provide a more systematic discussion of ESG to our clients once per year where we may discuss specific engagements with companies and broader insight gained from our analysis of the ESG landscape.


LEA 08. Tracking number of engagements

08.1. Indicate whether you track the number of your engagement activities.

Type of engagement
Tracking engagements
Individual/Internal staff engagements​

08.2. Additional information. [Optional]

As described earlier, we are engaged with all of our core portfolio companies.  We have regular internal dialogues concerning the status of our interactions with companies and track items like next steps in a regular report distributed weekly.  We track all one on one and small group meetings with the management teams and directors of our current and prospective portfolio companies in a log that is maintained by the Chief Compliance Officer. Because engagement is so central to our investment process, these engagements are part of our weekly discussion of the portfolio.


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