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Pendal

PRI reporting framework 2020

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Promoting responsible investment

SG 09. Collaborative organisations / initiatives

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Pendal is a signatory and also participated in the following PRI initiatives:

  • Pendal's Head of Responsible Investments attended the PRI in Person conference in 2019.
  • Regnan, our in-house dedicated ESG research and engagement team, undertook a number of advisory projects to support the PRI, including contributing to the 'Active Ownership 2.0: the evolution stewardship urgently needs' paper.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We are a CDP signatory and also participated in the CDP corporate discloser process in 2019.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We are a signatory to and investor participant in CA100+. We are a supporting investor participant for an Australian oil and gas company.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Pendal is an active members of the IGCC. Pendal is represented on the management committee and holds the position of Treasurer. IGCC's Management Committee oversees the work of the IGCC Secretariat and IGCC Member Workgroups. 

Regnan team members participate in a number of IGCC working groups, including the policy, adaptation and disclosure working groups. In 2019 Regnan facilitated a one day workshop for IGCC members on TCFD-aligned climate-related disclosures.

Pendal was also a sponsor of IGCC’s Summit in 2019 and our CEO presented on one of the panels

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Regnan participates in the Business Reporting Leaders Forum the - Australian home for IIRC. It provides detailed feedback on a number of integrated reports each year and has participated in a number of academic studies on integrated reporting. Company engagement on integrated reporting is specifically tracked and reported.

          Responsible Investment Association Australasia (RIAA) is the peak industry body for professionals working in responsible investment in Australia and New Zealand.
        

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Pendal is a member of RIAA.

Pendal's collaborations included:

  • Participation in a number of RIAA's working groups, including the human rights and corporate engagement working groups.
  • The chair of RIAA is a senior member of Regnan. 

Further, Pendal participates in RIAA's RI product certification program, with all of our Sustainable Series Funds applying for recertification in 2019. 

          Australian Sustainable Finance Initiative (ASFI)
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Pendal’s Australian CEO is on the Steering Committee for the Australian Sustainable Finance Initiative. ASFI, launched in March 2019, is a collaboration to help shape an Australian economy that prioritises human wellbeing, social equity and environmental protection, while underpinning financial system stability. 

Regnan team members are also represented in the initiative with one as a senior advisor to the Deputy Chairperson, and another participating in one of the four technical working groups. 

          Australian Financial Services Council (FSC)
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Pendal is an active member of the FSC. We have representatives on their ESG Working Group.

          Banking and Finance Oath
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Pendal's Global CEO is a Board Member..

          Australian Advisory Board on Impact Investing.
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Pendal Australia's CEO is Vice Chair of the organisation. 


SG 09.2. Assets managed by PRI signatories

Indicate approximately what percentage (+/- 5%) of your externally managed assets under management are managed by PRI signatories.

100 %

SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description

          Webinars and round table seminars for clients and financial intermediaries.
        

Frequency of contribution

Description

          Regnan has collaborated with Australian academic institutions on RI related research for example they collaborated with Griffith university to investigate the link between conduct and share price performance.
        

Frequency of contribution

Description

          Engagement conducted by our investment teams directly, as well as by Regnan, includes requests for companies and issuers to improve transparency and ESG-related disclosures. We encourage, for example, company disclosures in line with the TCFD recommendations. Our Fixed Income team continues to seek greater transparency and disclosure practices across the Australian issuer universe, in particular around 'use of proceeds' bonds (e.g. green bonds) and their annual impact disclosures.

Regnan facilitated a one-day work shop for IGCC members focused on asset owner TCFD-aligned disclosures.
        

Frequency of contribution

Description

          Pendal’s Australian CEO, Head of Responsible Investments and Regnan team members presented at various industry conferences, information panels and round table events to promote responsible investment. Highlights included IGCC Climate Summit 2019, PRI in Person 2019, KangaNews Sustainable Debt Summit (Keynote speech on the evolution of sustainable investing and the opportunities for asset management) a Global Compact Network Australia human rights round table, and an industry panel on Ocean Plastics.
        

Frequency of contribution

Description

          Presented to a number of clients at various levels of seniority (Boards, CEOs, Investment teams, RI specialists) and investor forums to build an awareness of what the PRI is and assist in their understandings of what is required to be a signatory. This is also often a central component of Regnan’s advisory work.
        

Frequency of contribution

Description

          During the year, we contributed to the Australian Financial Services Council's (FSC) response to the consultation on the draft guidelines to the Modern Slavery Act in Australia. Regnan also frequently participates in consultations and forums undertaken by non-governmental organisations.
        

Frequency of contribution

Description

          In 2019 examples of topics covered in articles include: educational pieces on responsible investment/ESG integration; gender bonds; climate-related risks; impact investing; brand risk/social licence to operate; and conduct culture. A sample of can be found at https://www.pendalgroup.com/education-and-resources/category/responsible-investments/  and  https://www.regnan.com/opinion
        

Frequency of contribution

Description

          Responsible Investment Association Australasia (RIAA) - Regnan team member is the current Chair
Investor Group on Climate Change (IGCC) - Pendal is represented on the Management Committee
Australian Advisory Board on Impact Investing - Pendal Australia CEO is on the Board
Banking + Finance Oath - Pendal Group CEO is on the Board
        

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]

Members of the Pendal and Regnan teams serve on a number of advisory groups within RI organisations e.g. FSC ESG Working Group, RIAA's Human Rights and Corporate Engagement Working Groups and IGCC’s policy, disclosure and adaptation working groups.

Further, much of Regnan’s advisory business is expressly focused on building capacity for and enhancing RI practice.


SG 11. Dialogue with public policy makers or standard setters

11.1. Indicate if your organisation - individually or in collaboration with others - conducted dialogue with public policy makers or regulators in support of responsible investment in the reporting year.

If yes

11.2. Select the methods you have used.

11.3. Where you have made written submissions (individually or collaboratively) to governments and regulatory authorities, indicate if these are publicly available.

11.4. Provide a brief description of the main topics your organisation has engaged with public policy-makers or regulators on.

Our in-house ESG team Regnan has engaged directly with public policy-makers and regulators on conduct culture, providing a copy of its conduct culture research to the Monetary Authority of Singapore.

Through our involvement the Investor Group on Climate Change (management committee), the Financial Services Council ESG Working Group (1x Chair and 1x member), and the Australian Sustainable Finance Initiative (steering committee, technical working groups), Pendal/Regnan have engaged with public policy-makers or regulators on the following topics:

Climate change - such as through supporting IGCC submissions
Modern Slavery - through supporting the FSC's submission to public consultation on guidelines for the Modern Slavery Act
Sustainable Finance - through participation in ASFI, which is developing a sustainable finance roadmap for Australia. Further, both IGCC and RIAA are actively involved in ASFI, leading governance forums and working groups as well as drafting key support materials and coordinating events.


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