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PICTET ALTERNATIVE ADVISORS SA

PRI reporting framework 2020

You are in Strategy and Governance » Governance and human resources

Governance and human resources

SG 07. RI roles and responsibilities

07.1. Indicate the internal and/or external roles used by your organisation, and indicate for each whether they have oversight and/or implementation responsibilities for responsible investment.

Roles

Select from the below internal roles

Other description (1)

          Responsible Investment committee (6 people)
        

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

Our board- level role oversight and accountability occur at the the Group Stewardship and Sustainability Board (GSSB), a Group level body that reviews progress across our RI programs, including climate, for both our own assets and those managed on behalf of our clients. Board oversight covers all ESG issues, including climate change.

The GSSB Pictet Stewardship Board, is co-Chaired by two Partners and includes C-level executives from across our business lines, including CIOs and CEOs for business lines and key corporate functions such as IT & Operations and Communications. It sets overall Group strategy and objectives, monitors progress and makes sure it is still relevant and up to date. The GSSB meets 4 times a year. Board members are responsible for relaying objectives within their various business lines for alignment and execution.

The Head of Group ESG & Stewardship coordinates the GSSB, and reports on progress twice a year to the Group Executive Committee. He or she develops the Pictet RI  strategy in collaboration with the Head’s of ESG and RI within the business lines, leads in the execution of transversal initiatives, and submits reports to the Partners who validate the strategy and annual objectives.

The Business Lines are responsible for developing, providing resources to, and executing the Pictet’s Sustainability and RI annual objectives in their division as they relate to client relationships, product development, investment management, distribution and risk management.

The Pictet Group ESG & Stewardship office are responsible for developing, providing resources to, and executing Sustainability & RI annual objectives as they relate to risk control, in-house environmental and supply chain management, communications and philanthropy.

For PAA, our CEO sits on the GSSB.

Moreover, PAA’s management committee (CEO, Co-CEO, business lines heads, COO, CFO) is responsible for defining and overseeing the PAA Responsible Investing Policy. Each business line head is responsible for the oversight in its respective team. A sub-committee, the PAA Responsible Investing Committee, composed of individuals from each business line, is coordinating the implementation of the above principles within PAA. One person is leading the Responsible Investment committee and reports directly to PAA's Management Committee on these matters.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

0 Number

07.4. Additional information. [Optional]

The 6 people (each from a different team) composing our Responsible Investment committee spend a substantial part of their time on responsible investing initiatives. We believe that having specialists within each underlying team has a strong impact. One person is leading the Responsible Investment committee and reports directly to PAA's Management Committee on these matters. As mentioned in a previous question, Responsible Investing is a core part of a newly created "Ambition 2025" plan for PAA. The Sponsor of the Responsible Investing initiative is the CEO of PAA, it is therefore a high priority.


SG 07 CC. Climate-issues roles and responsibilities (Private)


SG 08. RI in performance management, reward and/or personal development (Private)


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