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CBUS Superannuation Fund

PRI reporting framework 2020

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Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

Cbus has an annual review of its responsible investment policy and objectives at the IC meetings. This includes:

- policy review, if required

- reporting outcomes against objectives

- IC annual approval for active ownership approach

More frequent reviews occur in relation to our climate change commitments, voting and engagement and topical ESG issues.

 


SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          Provide training on ESG Incorporation
        

Progress achieved

  • Board offsite strategy session 
  • directors attendance at the Australian Council of Superannuation Investors (ACSI) conference
  • directors attendance at the PRI conference
  • RI Team provision quarterly induction programs for new investment staff
  • Presentations to all staff and investment town hall meetings
  • All investments staff required to undertake online PRI training 

Key performance indicator

          Delivery of RI component of Annual Integrated Report
        

Progress achieved

Responsible Investment Supplement 2019 included responsible investment achievements over the year including reporting against the TCFD.

In addition to RI specific Investment Committee  reports, regular updates are provided in the CIO's report to the Investment Committee regarding RI progress and achievements.

 

Key performance indicator

          Investment Committee approved active ownership strategy
        

Progress achieved

IC approved an uplift in active ownership strategy

Cbus hired dedicated staff to carry out engagement activities from 2020

 

 

Key performance indicator

          Improved integration for direct investments and fund manager appointment and review processes
        

Progress achieved

Appointment of ESG integration specialist

Improvements made in relation to direct global equities and infrastructure and in our fund manager appointment and monitoring process.

 

          Fund Manager Engagement on Climate Change
        

Key performance indicator

          Cbus made a commitment that its property managers would commit by 2020 to set a target of net zero carbon emissions by 2030
        

Progress achieved

 All property managers have committed to these targets with Cbus Property making its commitment public.

other description (2)

          Fund Manager Engagement
        

Key performance indicator

          100% of Australian property fund managers reporting against GRESB
        

Progress achieved

100% of our property fund managers are reporting against GRESB.

other description (3)

          Carbon Neutral
        

Key performance indicator

          Trustee Office targeted carbon neutral by December 2019.
        

Progress achieved

Received Federal Government certification of our Trustee office being carbon neutral for the 2018-19 financial year.

Financial performance of investments

ESG characteristics of investments

Other description (1)

          Climate Change
        

Key performance indicator

          Reporting against the TCFD
        

Progress achieved

Cbus' second report against the TCFD, reported performance against metrics and targets within our Responsible Investment Supplement 2019.

Other activities

Key performance indicator

          Actively participate in RI initiatives
        

Progress achieved

- Cbus CEO appointed to steering committee of the Australian Sustainable Finance Initiative

- Cbus Director and Investment Committee Chairman appointed Chair of the Investor Group on Climate Change (IGCC)

- Client of Hermes EOS, an organisation that undertakes engagement, voting and advocacy with global companies

- Participation in the National Housing Financing and Investment Corporation (NHFIC) - Socially responsible Bond issuance

- Joined GRESB infrastructure as an investor member

Key performance indicator

          Public disclosure of case studies
        

Progress achieved

Cbus used case studies in its Responsible Investment Supplement. Case studies included Rio Tinto and a focus on Australian banks.

06.2. Additional information.


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