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Alberta Investment Management Corporation

PRI reporting framework 2020

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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities

アクティブ運用している上場株式におけるESGの組み入れ

実施プロセス

LEI 01. Percentage of each incorporation strategy

01.1. 以下を記載してください。(1)組織でのアクティブ運用上場株式にどのESG組み入れ戦略や組み合わせを使用しているか(2)アクティブ運用している上場株式の戦略または戦略の組み合わせ別内訳

ESG組み入れ戦略 (当てはまるものをすべてお選びください)
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
4.53 %
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
95.47 %
アクティブ運用している上場株式の合計 100%

01.2. 組織が実施しているESG組み入れアプローチ、および、特定のESG組み入れ戦略を選択している場合はその理由を説明してください。

AIMCo's exclusionary screening applies to internally managed portfolios, as a result of client mandates and to comply with federal legislations. Exclusionary screening is applied to securities involved in the production of tobacco, cluster munitions, anti-personal mines, dedicated weapons systems integration services, nuclear weapons and other weapons of mass destruction, as well as companies prescribed by the Special Economic Measures Act and the United Nations Act with respect to the Suppression of Terrorism. Companies may also be excluded if they appear to contravene local or international legislation or agreements such as the UN Global Compact, International Labour Organization Standards, the UN Security Council Arms Embargo, etc. Analysts and Portfolio Managers further integrate ESG into analysis of companies to enhance the investment thesis.

01.3. ESG組み入れ戦略の組み合わせを使用して資産を運用している場合、ESG戦略の組み合わせをどのように使用しているかを簡単に説明してください。 [任意]

Using the exclusionary screening criteria set out by AIMCo, companies are filtered out accordingly. The fundamental equities team integrates ESG further into their analysis regarding the company's sector, country of operations, governance profile (management team), the composition of the board of directors, executive compensation, capital allocation policies, etc. Environmental factors are analyzed further if the specific company warrants. Sources such as Glass Lewis, ISS, MSCI ESG Manager and SASB are used during investment management activities for actively managed listed equity portfolios. 


LEI 02. Type of ESG information used in investment decision (Private)


LEI 03. Information from engagement and/or voting used in investment decision-making (Private)


A) 実施:スクリーニング

LEI 04. Types of screening applied

04.1. 組織内でアクティブ運用している上場株式に適用するスクリーニングの種類を記載し、説明してください。

スクリーニングの種類

スクリーニング実行者

説明

Products such as tobacco, cluster munitions, anti-personal mines, dedicated weapons systems integration services, nuclear weapons or other weapons of mass destruction are excluded from AIMCo's investable universe. AIMCo does not invest in high-risk geographic areas excluded by the Special Economic Measures Act (Canada) and is subject to the United Nations Act (Canada).

04.2. スクリーニング基準が変更された場合に顧客や受益者に通知する方法について説明してください。

AIMCo's ESG screening criteria are broadly established based on investment restrictions stipulated in client's statements of investment policy and government regulations. Specific screening parameters for industries are created by the RI team and approved by the RI committee internally. These criteria help inform this portion of the exclusions list. Tobacco, cluster munitions, and federally mandated screens are implemented as part of our internal fundamental screening process. AIMCo regularly meets with clients to give investment updates, including updates with respect to investment exclusions. 

AIMCo's exclusions lists for industries are updated quarterly. Statutory Investment Restrictions criteria are obtained from the federal government which inform updates to the Exclusions Guidelines on a rolling basis. The latest investment Exclusions Guidelines are also made publicly available on AIMCo's website.


LEI 05. Processes to ensure screening is based on robust analysis

05.1. スクリーニングが徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを選択してください。

          The RI Committee reviews and approves screening criteria. Compliance and RI teams collaborate to implement screening protocols to be applied across all asset classes
        

05.2. ESGスクリーニング戦略の一環で包括的なESG調査の対象となるアクティブ上場株式ポートフォリオの割合を示してください。

05.3. 第三者のESG評価がスクリーニング目的で更新される頻度を示してください。

05.4. 組織のESGスクリーニングを構築するための組織内リサーチを精査する頻度を示してください。

05.5. 補足情報 [任意]


LEI 06. Processes to ensure fund criteria are not breached (Private)


C) 実施: 統合

LEI 08. Review ESG issues while researching companies/sectors

08.1. E・S・Gの各要因が投資分析の一環として体系的に調査されている、アクティブ運用の上場株式ポートフォリオの割合を記載してください。

ESG問題

影響を受ける割合
E(環境)

E(環境)

S(社会)

S(社会)

コーポレートガバナンス

コーポレートガバナンス

08.2. 補足情報 [任意]

Characteristics of an industry influence the extent to which ESG issues are considered by Portfolio Managers. Coal mining for example is handled with an increased focus on environmental analysis and certain PM's will include coal mining on their even more stringent exclusionary list. Materiality of ESG factors vary company to company and therefore influence the associated analysis. ESG factors of AIMCo investments are systematically tracked by the RI team. If significant changes to ESG scores are identified by RI, the appropriate PM's are notified. RI may contact PM's regarding an upcoming vote or a significant event such as M&A. AIMCo's proxy voting guidelines include ESG considerations and incorporate proxy research from external providers.


LEI 09. Processes to ensure integration is based on robust analysis

09.1. ESG統合が徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを記載してください。

09.2. 組織の統合戦略の一環で包括的ESG調査の対象になるアクティブ運用上場株式の割合を記載してください。

09.3. ESG統合戦略に使われる第三者のESG評価が更新される頻度を示してください。

09.4. ESG統合戦略に使われる組織内調査を見直す頻度を示してください。

09.5. ポートフォリオ・マネージャーがどのようにしてESG情報を保有し、使っているのか説明してください。

          ESG ratings upgrades and downgrades for fundamental equity portfolios are delivered to key portfolio managers on an ongoing basis, and ESG data for screening purposes.
        

09.6. 補足情報 [任意]


LEI 10. Aspects of analysis ESG information is integrated into (Private)


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