Responsible investing is a core component of Pendal Group's strategic vision. A key objective of our five-year plan is to be a leading provider of ethical, sustainable and impact solutions for our clients as well as to embed ESG as part of our investment process in our existing investment boutiques. This stems from a commitment from the Group Board and our Global CEO. Pendal Australia has had an RI Philosophy and Approach document since 2017 and it is available to the public on our website. We believe there are important responsible investment principles that can be applied across all of our investment boutiques, providing guidance to our investment teams. The document has been approved by the Pendal Australia Executive Risk & Operations Group and is reviewed annually or more frequently if required.
As part of this strategic emphasis on RI, in February 2019 Pendal Group assumed full ownership of Regnan, a specialist ESG research, engagement and advisory firm. With Regnan now in-house, their expertise is now closer to the investment process and they are supporting our investment teams build capability in key areas of importance, such as climate change and human rights.
As part of our annual employee and business review process, key stakeholders driving our RI activities set key objectives in consultation with Pendal Australia’s CEO and senior management. Our Group Board also conducts an annual Strategy Review discussion. In addition, Pendal Australia also has a Responsible Investments Working Group (RI Group) to facilitate knowledge sharing and provide input into RI guidelines, strategy and solutions. The RI Group consists of senior members of the investments (all asset classes) and corporate teams (Risk & Compliance, Legal, Sales and Marketing) and its responsibilities are set out in the Responsible Investments Governance Structure. The objective of the RI Group is to oversee the development and application of Pendal Australia’s Responsible Investment (RI) process across offerings and communications to ensure alignment with Pendal Australia’s RI philosophy as well as client expectations and needs. The RI Group does not replace prior risk management and compliance processes, rather it serves to enhance the existing controls already in place. Our RI Group meets at least quarterly and more frequently if required. The RI Group sets high level annual RI objectives as well as quarterly RI objectives. Specific objectives range from the development and maintenance of Pendal Australia's RI process and products as well as considerations of broader industry trends, standards and practices - with a particular focus on the RI needs of our clients.