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CBUS Superannuation Fund

PRI reporting framework 2020

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Indirect – Manager Selection, Appointment and Monitoring
Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (C) Implementation: Integration of ESG factors [LEI 08 - 10] Outputs and outcomes [LEI 12 - 13]
Direct - Listed Equity Active Ownership
Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] ESG incorporation in passively managed fixed income [FI 13] Outputs and outcomes [FI 17 - 18]
Direct - Property
Overview [PR 01] Pre-investment (selection) [PR 04 - 06] Selection, appointment and monitoring third-party property managers [PR 07] Post-investment (monitoring and active ownership) [PR 08 - 14] Overview [PR 08] Property monitoring and management [PR 09 - 10] Property developments and major renovations [PR 11] Occupier engagement [PR 12 - 13] Community engagement [PR 14] Outputs and outcomes [PR 15 - 16]
Direct - Infrastructure
Overview [INF 01 - 02] Pre-Investment (Selection) [INF 05 - 09] Post-investment (monitoring and active ownership) [INF 11 - 16] Overview [INF 11] Infrastructure Monitoring and Operations [INF 12 - 14] Infrastructure Maintenance [INF 15] Stakeholder engagement [INF 16] Outputs and outcomes [INF 17 - 18]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Direct - Listed Equity Active Ownership » Overview

Overview

LEA 01. Description of approach to engagement

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

01.1. Indicate whether your organisation has an active ownership policy (includes engagement and/or voting).

01.2. Attach or provide a URL to your active ownership policy.

URL https://www.cbussuper.com.au/content/dam/cbus/files/governance/policies/Responsible-Investment-Policy-Summary.pdf

01.3. Indicate what your active engagement policy covers:

General approach to Active Ownership

Engagement

Voting

01.4. Do you outsource any of your active ownership activities to service providers?

01.5. Where active ownership activities are conducted by service providers, indicate whether your active ownership policy covers any of the following: 

          We outline our service providers role in our Responsible Investment Supplement. Items outlined in this question are items covered in contract terms.

01.6. Additional information [optional]

Stewardship Statement

In 2018 we became a signatory to ACSI's voluntary Australian Asset Owners Stewardship Code.  Our stewardship statement can be found here: 

https://www.cbussuper.com.au/content/dam/cbus/files/governance/reporting/Stewardship-Statement.pdf

Responsible Investment Principles

The September 2017 our Investment Committee meeting endorsed Responsible Investment Principles. The intention of these Principles is to communicate to our managers the ESG issues important to us as a Fund. These Principles are also reflected in our active ownership where applicable and cover issues such as climate change, cognitive diversity, health and safety, Labour and human rights in direct operations and supply chains and product supply chains.

Voting

The Fund’s voting practices domestically and internationally are predominantly based on the ACSI Corporate Governance Guidelines to ensure consistency of our voting process.

The Fund will contact companies pre or post vote when in members best interests.

Engagement

The Fund engages with a broad range of stakeholders including its investment managers and listed and unlisted companies in which it invests to promote sustainable value creation in the companies in which we invest.

The Fund's engagement program uses multiple mechanisms to protect and enhance the value of its member’s equity holdings.  Engagement can be undertaken directly (both on a strategic and ad hoc basis), in collaboration with other investors, or through external service providers.

There are three methods of engagement:

- Direct engagement with companies that represent our largest Australian share holdings and ad hoc issues on issues such as those outlined in our Responsible Investment Principles.
- Collaborative engagements, for example through the Climate Action 100+ (to secure climate change commitments from Boards of large companies)- 
- Service provider engagements, through ACSI for ASX300 share holdings and through Hermes EOS for our global share holdings.

If ongoing engagement has been unsuccessful, or a company has been unresponsive, we have an escalation process in place.

 
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