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CBUS Superannuation Fund

PRI reporting framework 2020

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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

02.2. Indicate whether your organisation plays a role in the engagement process that your service provider conducts.

02.3. Indicate the role(s) you play in engagements that your service provider conducts on your behalf.

          Through ACSI we participate on the ACSI Member Council and approve the annual engagement themes, targets and goals. Hermes seeks input via survey and discussion.
        

02.4. Additional information. [Optional]

Cbus engages primarily through third party service providers given limited resources and the ability to have a greater influence. Cbus uses ACSI in the Australian market and from 2019 use Hermes EOS for its international equities portfolio. 

Cbus also undertakes direct engagement as well as collaborative engagement through the Climate Action 100+ engagement program.


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

Collaborative engagements

Collaborative engagements

specify

          Our Global engagement service provider Hermes considers the additionality of its engagement, the feasibility of engagement and its potential impact (voting rights).
        
Service-provider engagements

Service-provider engagements

03.3. Additional information. [Optional]

Considerations that support our decision to use a service provider include: alleviate the resource burden of engagement, the ability to have greater impact on ESG issues as well as the potential to enhance knowledge of ESG issues through collaboration and being part of a larger network.


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
Collaborative engagements
Service-provider engagements

04.2. Additional information. [Optional]

Domestically for ACSI’s priority engagement companies, specific engagement issues are defined at the start of the calendar year. For all other companies, ACSI outlines key engagement topics and objectives prior to the meeting. Our Global Engagement provider Hermes conducts engagements using specific milestone-driven objectives for most companies in its engagement programme. 


LEA 05. Process for identifying and prioritising collaborative engagement

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

06.3. Additional information. [Optional]

See below link for a copy of the escalation policy. https://www.cbussuper.com.au/about-us/sustainability/escalation-process

Our global service provider Hermes continually reviews the progress of its engagements and considers whether to intensify efforts and escalate the engagement or discontinue the objectives as the situation demands. Our service provider keeps us informed of the progress through quarterly reporting as well as a client portal.


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

Collaborative engagements

Service-provider engagements

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

          Participation of direct equity managers in engagements or access to relevant portal. We update weekly investment team meeting regarding significant engagements/votes.
        

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

Collaborative engagements

Service-provider engagements

07.4. Additional information. [Optional]

Engagement reports provided by ACSI are reported to the Investment Committee. In addition our direct and collaborative engagements are reported to the Investment Committee.

Engagement case studies and outcomes are included in our Responsible Investment Supplement.


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​

Collaborative engagements

Service-provider engagements

08.2. Additional information. [Optional]

ACSI tracks all formal company engagement meetings and provides semi-annual engagement updates to members.  We track our direct engagements where initiated by Cbus. HERMES EOS tracks its engagements and reports quarterly.  Climate Action 100 has developed a company dashboard.


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