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Alberta Investment Management Corporation

PRI reporting framework 2020

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Governance and human resources

SG 07. RI roles and responsibilities

07.1. Indicate the internal and/or external roles used by your organisation, and indicate for each whether they have oversight and/or implementation responsibilities for responsible investment.

Roles

Select from the below internal roles

          Chief Compliance Officer
        

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

The AIMCo Board of Directors approves the Responsible Investment Policy and receives updates on responsible investment activities, performance and progress as requested.

AIMCo's Chief Executive Officer (CEO),  Kevin Uebelein, is chair of the Responsible Investment Committee (RIC), an internal committee comprised of department heads, senior VP's and select department representatives. Kevin Uebelein is also a director at the Canadian Coalition for Good Governance (CCGG) and chairs the Member Engagement Committee as well as a member of the Governance Committee. Kevin has participated in meetings, corporate engagements and events organized by CCGG.

AIMCo's Director of Responsible Investment reports directly to the Chief Investment Officer (CIO), thereby enabling fit for purpose strategies for each investment department. 

AIMCo is a founding partner of the G7 Investor Leadership Network (ILN), an open and collaborative platform for leading investors addressing sustainability and long-term growth. Robin Heard, AIMCo's Chief Financial Officer, is AIMCo's lead representative to the ILN Steering Committee comprised of leading global institutional investors. Together with our partners, representing more than $6 trillion in AUM, we have joined and pledged to commit resources, expertise and networks to further three initiatives:

  1. Infrastructure Fellowship Program: Bridging the infrastructure gap by providing academic use and practical training to senior public-sector infrastructure managers from developing and frontier markets. AIMCo Representative: Ahmed Mubashir, Portfolio Manager, Infrastructure & Renewable Resources
  2. Diversity in Investment: Increasing recruitment, retention & promotion of diverse groups, starting with women, in senior leadership positions and investment roles, in both developed and emerging markets. AIMCo Representative: Tamara Owchar, Director, Quantitative Investments
  3. Climate Disclosure: Speeding up investors' implementation of uniform and comparable climate-related disclosures under the TCFD framework by building on existing guidance and best practices. AIMCo Representative: Alison Schneider, Director, Responsible Investment

AIMCo's Director of Responsible Investment reports quarterly to the RIC. AIMCo's CEO (as the Chair of the RIC) reports on responsible investment activities to the Investment Committee on an as needed basis.

AIMCo's Chief Compliance Officer is a member of the RIC and leads the Compliance department who implement AIMCo's Investment Exclusions. Compliance has responsibility for updating the exclusions list quarterly, and ensuring, in pre-trade clearance processes, that a filter for excluding companies is applied for all directly held investments.

AIMCo features ESG materials in our board education portal which is maintained by the Chief Corporate Officer (CCO). 

Portfolio managers are consulted on proxy votes for the companies on our strategic watch list. The Responsible Investment department makes ESG data and research available to all investment staff (portfolio managers and investment analysts).

The Responsible Investment department works to implement AIMCo's Responsible Investment Pillars which include the following:

  1. Responsible Investment Structure [policies and guidelines]
  2. Investment Process [including proxy voting and investment research across portfolios]
  3. Engagements with companies [including identification of companies that fit our ESG focus areas and/or strategic watch list]
  4. Reporting and Communications [internal, clients and general public]
  5. Collaboration and Advocacy [including interactions with policymakers, regulators and investor peers]
  6. Training & Education [internal and external]

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

5.75 Number

07.4. Additional information. [Optional]

The RI team employed a summer student part time from January 2019-March 2019 and full time from April 2019-August 2019. 


SG 07 CC. Climate-issues roles and responsibilities

07.5 CC. Indicate the roles in the organisation that have oversight, accountability and/or management responsibilities for climate-related issues.

Board members or trustees

Chief Executive Officer (CEO), Chief Investment Officer (CIO), Chief Risk Officer (CRO), Investment Committee

Other Chief-level staff or heads of departments

Portfolio managers

Investment analysts

Dedicated responsible investment staff

External managers or service providers

07.6 CC. For board-level roles that have climate-related issue oversight/accountability or implementation responsibilities, indicate how these responsibilities are executed.

Ultimately, AIMCo’s Board oversees the governance of responsible investment at AIMCo—it approves the Responsible Investment Policy and any refreshments to the policy which include references to climate change. The Board is appraised of the scope of our responsible investment activity, including our activities regarding consideration of climate change. The board seeks education on climate change related topics specifically which we provide on a director education portal, such as sharing a webinar we conducted for the Responsible Investment Association (RIA) describing our TCFD-related work and insights which led to an investor guidance to TCFD. RI has presented to the AIMCo Board in person on these topics.

07.7 CC. For management-level roles that assess and manage climate-related issues, provide further information on the structure and processes involved.

We have a Responsible Investment Committee (RIC) chaired by our Chief Executive Officer and comprised of senior management, representing all asset class and investment departments. The RIC approves overarching responsible investing strategies and is regularly appraised and consulted on ESG-related activities, including consideration of climate change.

07.8 CC. Indicate how your organisation engages external investment managers and/or service providers on the TCFD recommendations and their implementation.

Specify

          We work with our engagement service provider on incorporating the TCFD recommendations in their engagement program with Canadian issuers and regulatory bodies.
        

SG 08. RI in performance management, reward and/or personal development (Private)


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