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Christian Brothers Investment Services, Inc.

PRI reporting framework 2020

You are in Direct - Listed Equity Active Ownership » Outputs and outcomes

成果および結果

LEA 09. Number of companies engaged with, intensity of engagement and effort

報告年度中に貴社がエンゲージメントを行った、上場株式ポートフォリオ内の企業の割合を示してください。
報告年度内にエンゲージメントを一切行わなかった.​
エンゲージメントを行った企業の数
割合(5%刻み)

単独/貴社内のスタッフのエンゲージメント

12
.01
協働的なエンゲージメント
102
.05

09.2. 報告年度内に行ったエンゲージメントの内訳を対話(貴社の代理で行われた対話を含む)の回数ごとに示してください。

企業との対話の回数
 エンゲージメントの割合
対話回数 1回
対話回数 2 ~ 3回
対話回数 4回以上
合計
100%

09.3. 報告年度中に協働的なエンゲージメントの中で、貴社が主導したエンゲージメントの割合を記載してください。

エンゲージメントの種類
主導的役割を果たした割合(%)
協働的なエンゲージメント

09.5. 補足情報 [任意]


LEA 10. Engagement methods

10.1. 貴社のエンゲージメントが以下のどの項目を含むか明示してください。

その他(具体的に記入してください)

          Filed shareholder resolutions; attended annual general meetings; joined company webinars and asked questions, and attended private round tables with companies on a single topic.
        

10.2. 補足情報 [任意]

Depending on our request, the relationship we may have with a company, and the sensitive nature of the issue of concern, we may employ a variety of types of engagement throughout the year to reach a company and start a dialogue. We often begin with a letter to the Board and C-Suite to garner the attention of key decision-makers, but we customize our approach to each company given the unique circumstances of its structure, leadership, and the issue in play. We may also engage a single company on more than one issue during the same timeframe, but play a different role (of lead or collaborator) from the initial engagement first started. These engagements might be quite different from each other in terms of topic and participants and strategies.


LEA 11. Examples of ESG engagements

11.1. 報告年度に貴社または貴社のサービスプロバイダーが実行したエンゲージメントの事例を挙げてください。

ESGトピック
Human rights|Sustainability reporting|Other governance|Other

具体的に記入してください

          
        
実行者
目標

Preventing Child Sexual Exploitation Online

The objectives were to encourage leading telecom companies to progress on the following issues related to preventing child sexual exploitation online connected to their products and services:

  • Improving and expanding digital child safety initiatives and outreach;
  • Reporting to shareholders on how the company is protecting children online and preventing sexual exploitation targeting children under 18;
  • Partnering with industry peers on risk education and prevention tools, law enforcement training, research, customer surveying, and device design collaboration;
  • Creating Child Exploitation and Online Safety teams and point persons within the company;
  • Implementing a children's rights and impacts due diligence assessment across the entire business. 
対象範囲およびプロセス

CBIS led engagements with both AT&T and Verizon Communications. We had between 4-10 investors joining each engagement or action. CBIS and collaborators filed resolutions at both companies in 2019, after unsatisfactory talks and engagement in 2017-18. At Verizon Communications, a resolution first went to a vote in May 2019 and received 34% support. Because the company refused to agree to progress on any of the actions we had discussed, investors refiled the resolution in Fall 2019.

CBIS and partners felt that AT&T's initial response to our 2018 letter was not related to the topic, and after follow-up for more information, and a lack of response from the company through most of 2019, CBIS led a resolution filing there.

As a result, both companies came back and agreed to make progress on multiple fronts, and to roll out that progress and an assessment of child impacts across the company--not a siloed initiative. Since then, we have seen commitments to, or actual progress on, all of the objectives mentioned above. The coalition of investors has since been asked to keep both companies updated on new initiatives related to our concerns. Both companies are routinely reporting progress back to the coalition.

 

 

 

 

結果
ESGトピック
Executive Remuneration|Climate Change|Company leadership issues|Other governance
実行者
目標

BP and Alignment with Paris Agreement

Our objective was to encourage BP plc to:

  • Link remuneration strategies to climate change goals;
  • Attract new directors to its board that have expertise in industry disruption and establishing new business models;
  • Align its lobbying and public policy efforts and trade association involvement with its stated climate goals; and
  • Set credible GHG targets for Scope 3 emissions reductions.
対象範囲およびプロセス

CBIS has engaged BP for 18 years on environmental and social risks, and more recently on linking remuneration strategies to climate change goals, aligning its policy and lobbying positions with its stated climate positions, and setting Scope 3 reduction targets. In 2015, we co-filed the Aiming for A resolution. In 2017, CBIS hosted a dialogue with BP's Board Remuneration Committee Chair and 30+ investors on tying compensation to climate strategies and goals. CBIS has organized and hosted several dialogues since then of both bondholders and shareholders to discuss climate policy, the energy transition and related board governance, Scope 3 targets and emissions strategies, and climate lobbying with BP. In 1Q 2019, the company announced it was tying the compensation of 36,000 employees to climate objectives. CBIS cofiled the Paris alignment resolution in 2019 (CA 100+ focus) and attended and spoke at the May 2019 AGM on our focus, as well as met with BP's chairman on the importance of Scope 3 targets. We also wrote to BP several times from June to December, on its positive role in opposing methane regulation rollbacks and ending exploration in Alaska, its commitment on lobbying alignment, and on climate audit assumptions.

結果
ESGトピック
Human rights|Other governance
実行者
目標

Preventing Child Sexual Exploitation Online:

Our objective was to have Apple Corp. improve and report publicly on its policies, practices, collaborations with child safety experts, and its implementation of technology innovations that block or identify child sexual exploitation, child trafficking, or child sex grooming online or through Apple services and devices.

対象範囲およびプロセス

CBIS began individual engagement in late 2016 with a letter to the company outlining what information we sought, and pointing to the lack of publicly available information for investors on this topic, knowing that Apple had some staff resources devoted to the issue. Letters, calls and emails were sent over the course of 2017 seeking more information. The company responded with improved Guidelines for its App Developers in 2017 that clearly prohibited human trafficking or child sex exploitation, but it was reticent to discuss the issue with us in-depth.

CBIS filed a resolution in August 2018, which began a series of conversations on our concerns. We had further discussions with Apple staff, and an in-person meeting in 2019 that included ourselves and other Apple shareholders. Apple subsequently announced  in 2019 a change in its policies to scan certain services for child exploitation material, and that included the iCloud.

CBIS had additional in-person follow-up discussions with Apple in Nov. 2019, and we continue to assess progress and raise questions with the company.

結果
ESGトピック
Climate Change|Company leadership issues
実行者
目標

Scope 3 Emissions Targets and Addressing Climate Change:

Our objective was to encourage ExxonMobil to align its energy ambitions with the Paris Agreement, report on its Scope 3 emissions and set targets for them, and for the company to diversify its energy mix towards lower carbon strategies.

対象範囲およびプロセス

CBIS has engaged ExxonMobil on climate risk since 1999 and has filed many resolutions on the topic since then with the company. In 2017, CBIS and Tri-CRI led a coalition of three dozen investors to co-file the 2 Degrees C resolution spearheaded by NY State and Church of England, instead of filing on our own topics. That resolution received 62% support. We have been part of numerous discussions with the company since 2017, including on its support of the Paris Agreement, methane reductions, lobbying efforts around climate change and a carbon tax, and Scope 3 emissions reporting and target-setting. For the 2018 and 2019 AGMs, we co-filed a shareholder resolution on alignment with the Paris Agreement and setting GHG reductions for products. The 2019 resolution was omitted. The company made some improvements in 2019 on methane reductions, being more proactive and positive in its lobbying efforts and the OGCI, and it made a 500MW purchase of renewable energy in late 2018. It also made key breakthroughs on algae biofuels research. But it has resisted reporting, or setting targets for emissions stemming from its Scope 3 contributions for its products.

結果
ESGトピック
Human rights|Health and Safety|Labour practices and supply chain management
実行者
目標

Eliminating Forced Labor In the Apparel Sector

Respecting human rights and upholding the dignity of all people is core to CBIS’ active ownership initiatives and is reflected in our work over the past 12 years to combat human trafficking.  In 2019, CBIS engaged companies individually and collaboratively with members of ICCR (Interfaith Center on Corporate Responsibility) using the Know the Chain (KTC) apparel and footwear benchmark, with the objective of spurring action among the largest 40 apparel and footwear companies to eradicate forced labor in their business operations and throughout their value chains.

We urged improvements on the issue of recruitment, a key theme that directly impacts the lives of workers. In 2019, CBIS engaged Hugo Boss, Inditex, Pou Chen, Yue Yen and Hermes on three key points related to recruitment, a core issue that most directly impacts workers’ lives: 

  • That no workers pay for their jobs;
  • Workers retain control of identify documents and have freedom of movement; and 
  • Workers are informed of their rights and terms of employment.
対象範囲およびプロセス

As forced labor is a salient risk within the business operations and supply chains of apparel and footwear companies, CBIS has engaged for three years with such companies and raised awareness among investors. In addition to dedicated engagements, to affect change in 2019, CBIS did the following:

  • Helped lead a multi-year initiative with ICCR and KTC whereby we strategize with nearly 50 investors from more than 10 countries through conference calls on a quarterly basis and at an in-person meeting at PRI in September 2019 to share learnings and track progress on apparel engagements.  
  • Engaged in public policy by working with Congressional leaders in the US, investors, and leading NGOs, on proposed draft anti-trafficking bills throughout the fall of 2019 to promote legislation that will require companies to increase disclosure.  
  • Raised awareness as a featured speaker on an October 2019 webinar with ICCR, the Fair Labor Association and the American Apparel and Footwear Association, and as a panelist at the ICCR conference in September 2019, along with PVH and The International Labor Rights Forum. 
結果
ESGトピック
Climate Change|Pollution|General ESG|Deforestation|Other

具体的に記入してください

          
        
実行者
目標

Deforestation in the Amazon, and Contributions to Forest Fires and Climate Change:

While investors concerned about climate change have predominantly concentrated on the energy, utilities, and transport sectors, CBIS' primary objective was to expand our active ownership to include the role of forests--and emissions and biodiversity loss associated with the clearing of land for soy, beef and palm oil production. Without increased investor attention, the world runs the risk of losing one million species in the coming decades due to habitat destruction, pollution, and pesticide use. A secondary objective was to link Catholic teaching to the initiative to educate and inform our stakeholders, including our fund investors and faith colleagues. In the encyclical Laudato Si, Pope Francis directly addresses the dangers involved when animals and plants are threatened with extinction “which we will never know, which our children will never see, because they have been lost forever. We can’t be silent witnesses to terrible injustices,” concludes the Pope, as “each creature reflects something of God,” something that “human beings have no right to ignore.”  CBIS has also previously engaged food producers on environmental impacts, and wanted to raise deforestation practices in meat production to biodiversity loss and emissions.

 

対象範囲およびプロセス

Recognizing the important role that finance and investment can play, in September 2019, CBIS joined BNP Paribas Asset Management to convene investors, CERES, GRI, CDP and PRI, and leading scientists on biodiversity and the climate crisis during Climate Week in New York to develop investor approaches to address threats to biodiversity, one of the first meetings of its kind.

To further call attention to this inter-related climate and biodiversity crisis, CBIS joined a statement organized by PRI and CERES with 230 investors representing $16T AUM from 30 countries expressing concern about the escalating crisis of deforestation and forest fires in Brazil and Bolivia – calling on companies to tackle material deforestation risks within their operations and global supply chains. In addition, at our urging, Degroof PeterCam Asset Management, a CBIS sub-adviser with investments in Brazilian debt, also signed the Statement. To further inform our learnings and leverage our assets, CBIS subsequently joined FAIRR and the CERES-led Investor Initiative for Sustainable Forests. CBIS highlighted the Statement in its monthly newsletter, investor slides, and quarterly podcast as well. 

結果

11.2. 補足情報[任意]


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