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Sitra

PRI reporting framework 2020

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Asset class implementation gateway indicators

OO 10. Active ownership practices for listed assets

10.1. Select the active ownership activities your organisation implemented in the reporting year.

Listed equity – engagement

Listed equity – voting

Fixed income SSA – engagement

Fixed income Corporate (financial) – engagement

Fixed income Corporate (non-financial) – engagement


OO 11. ESG incorporation practices for all assets

Select the externally managed assets classes in which you and/or your investment consultants address ESG incorporation in your external manager selection, appointment and/or monitoring processes.
Asset class
ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes
Listed equity

Listed equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - SSA

Fixed income - SSA - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (financial)

Fixed income - corporate (financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (non-financial)

Fixed income - corporate (non-financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Private equity

Private equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Property

Property - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Infrastructure

Infrastructure - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Forestry

Forestry - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Inclusive finance

Inclusive finance - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Money market instruments

Money market instruments - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

11.4. Provide a brief description of how your organisation includes responsible investment considerations in your investment manager selection, appointment and monitoring processes.

When selecting the funds that Sitra invests in, we evaluate responsible investment policy practices and process that managers apply. We expect the managers to have principles for responsible investment and that the fund managers integrate responsibility analyses into investment prosesses. We also appreciate if the fund managers are signatories to the PRI.  ESG issues are regularly discussed with Sitra´s fund managers. 

All of Sitra´s listed funds were screened during the spring 2019. The screening was outsourced, so it was done by an specialist within this field. Investments were screened by industries and also by breaches of international standards. Key findings of these screenings were discussed and analysed further with relevant fund managers. This screening excercice was also used as a benchmark for updating Sitra´s own guidelines for responsible investing. Specific sector/industry exclusions were added to the guidelines and also norm breaches will be regularly followed in the future. Sitra´s board approved the new guidelines that were introduced to the fund managers.  There will be a 2 year transition period to the rules to be fully implemented.

Sitra carried out an ESG survey for the first time in autumn 2018. This questionnaire was developed internally and it was sent to all of our portfolio managers across different asset classes. As a continuum to this survey we provided the survey data for an university student who analysed it further as a part of a master´s thesis. Main outcomes of this thesis work were published on Sitra´s website. 

 

 

11.5. For your externally managed pooled funds, describe any mechanisms in place to set expectations as part of the appointment or commitment process.

When selecting funds we review their holdings and investment strategy are in line with our ESG policy. When appointing we make communicate our policy. We also expect investment guidelines to be in place that reflect our  ESG policy. 


OO 12. Modules and sections required to complete

12.1. Below are all applicable modules or sections you may report on. Those which are mandatory to report (asset classes representing 10% or more of your AUM) are already ticked and read-only. Those which are voluntary to report on can be opted into by ticking the box.

Core modules

RI implementation directly or via service providers

Direct - Listed Equity active ownership

RI implementation via external managers

Indirect - Selection, Appointment and Monitoring of External Managers

Closing module

12.2. Additional information. [Optional]


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