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Government Superannuation Fund Authority

PRI reporting framework 2020

You are in Direct - Listed Equity Active Ownership » Engagement

Engagement

LEA 02. Reasoning for interaction on ESG issues

Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual / Internal staff engagements
Collaborative engagements
Service provider engagements

02.2. Indicate whether your organisation plays a role in the engagement process that your service provider conducts.

02.3. Indicate the role(s) you play in engagements that your service provider conducts on your behalf.

02.4. Additional information. [Optional]

We carry out our engagement via 4 avenues:

- we engage through collaborative efforts

- we employ BMO as a service provider

- we require our managers to engage on our behalf

- direct engagement with global companies is part of our CFI collaboration . NZ Super Fund undertakes direct engagement on our behalf


LEA 03. Process for identifying and prioritising engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagements.

Indicate the criteria used to identify and prioritise engagements for each type of engagement.
Type of engagement
Criteria used to identify/prioritise engagements
Individual / Internal staff engagements

Individual / Internal staff engagements

Collaborative engagements

Collaborative engagements

Service-provider engagements

Service-provider engagements

03.3. Additional information. [Optional]


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Indicate whether you define specific objectives for your organisation’s engagement activities.
Individual / Internal staff engagements
Collaborative engagements
Service-provider engagements

04.2. Additional information. [Optional]

Internal engagements:

In conjunction with NZSF, before deciding to engage, we look at fit with priorities, our capacity to contribute and engage directly with target companies; the potential effectiveness of engagement, and; resources required.

Before undertaking engagement, we put together an engagement plan that provides context and reasoning for the engagement as well as setting performance targets and milestones. Progress of the engagement is recorded and reported quarterly. Monitoring responses (or lack of) is also undertaken quarterly.

 

Collaborative engagements:

The collaborative engagements that we choose to join will fit with our priorities, have clear objectives and methodologies for tracking progress. We also have an internal approval process which we need to go through before joining any collaborations.

In 2019, alongside the other Crown-owned investors in New Zealand, we have led a large collaborative engagement with the social media companies in response to the livestreaming and dissemination of content relating to the Christchurch terror attack. The engagement has a sole objective with a clear engagement plan.

 


LEA 05. Process for identifying and prioritising collaborative engagement

Indicate whether you monitor and/or review engagement outcomes.
Individual / Internal staff engagements
Collaborative engagements
Service-provider engagements
Indicate whether you do any of the following to monitor and/or review the progress of engagement activities.
Individual / Internal staff engagements
Collaborative engagements
Service-provider engagements

05.3. Additional information. [Optional]


LEA 06. Role in engagement process

06.1. Indicate whether your organisation has an escalation strategy when engagements are unsuccessful.

06.2. Indicate the escalation strategies used at your organisation following unsuccessful engagements.

06.3. Additional information. [Optional]

We also have a defined methodology which underpins decisions for placing a company into escalation mode


LEA 07. Share insights from engagements with internal/external managers

07.1. Indicate whether insights gained from your organisation`s engagements are shared with investment decision-makers.

Type of engagement

Insights shared

Individual / Internal staff engagements

Collaborative engagements

Service-provider engagements

07.2. Indicate the practices used to ensure that information and insights gained through engagements are shared with investment decision-makers.

07.3. Indicate whether insights gained from your organisation’s engagements are shared with your clients/beneficiaries.

Type of engagement

Insights shared

Individual/Internal staff engagements

Collaborative engagements

Service-provider engagements

07.4. Additional information. [Optional]

Insights from our direct engagements are also shared, in confidence, with our engagement service provider. A standing item on the agenda of our quarterly calls with BMO is an update on the direct engagements we are undertaking as well as the collaborative engagements we are both involved in. We recognise the importance of keeping BMO informed of our direct engagement activities.


LEA 08. Tracking number of engagements

08.1. Indicate whether you track the number of your engagement activities.

Type of engagement
Tracking engagements
Individual/Internal staff engagements​

Collaborative engagements

Service-provider engagements

08.2. Additional information. [Optional]

Engagement progress of companies on our Global Engagement Focus List (direct, collaborative and service provider engagement) is tracked quarterly via a dashboard update. Included in the dashboard is:

  1. Summary of engagement undertaken (per company on our Focus List)
  2. Company response (or lack of)
  3. Milestones
  4. Any companies being escalated for lack of response or lack of recorded milestones
  5. Resolved / Closed engagements

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