Public HTML RI reports - PRI reporting framework 2020

	We did not complete any engagements in the reporting year.	Number of companies engaged (avoid double counting, see explanatory notes)	Proportion of companies engaged with, out of total listed equities portfolio
Individual / Internal staff engagements		217	4
Collaborative engagements		51	1

09.2. Indicate the breakdown of engagements conducted within the reporting year by the number of interactions (including interactions made on your behalf).

No. of interactions with a company	% of engagements
One interaction	>76% 51-75% 11-50% 1-10% None
2 to 3 interactions	>76% 51-75% 11-50% 1-10% None
More than 3 interactions	>76% 51-75% 11-50% 1-10% None
Total	100%

09.3. Indicate the percentage of your collaborative engagements in which you were the leading organisation during the reporting year.

Type of engagement	% leading role
Collaborative engagements	>50% 10-50% <10% None

09.5. Additional information. [Optional]

LEA 10. Engagement methods

10.1. Indicate which of the following your engagement involved.

Letters and emails to companies

In a minority of cases

In a majority of cases

In all cases

Meetings and/or calls with board/senior management

In a minority of cases

In a majority of cases

In all cases

Meetings and/or calls with the CSR, IR or other management

In a minority of cases

In a majority of cases

In all cases

Visits to operations

In a minority of cases

In a majority of cases

In all cases

Visits to supplier(s) in supplier(s) from the company’s supply chain

In a minority of cases

In a majority of cases

In all cases

Participation in roadshows

In a minority of cases

In a majority of cases

In all cases

Other

(specify)

          Events/Conferences

In a minority of cases

In a majority of cases

In all cases

10.2. Additional information. [Optional]

We do not consider that one form of engagement is better than another but rather that each form of engagement has their merits and ways in which they can be useful.

We may consider that a meeting with board directors or senior management is the best way to address the objectives of an engagement or similarly we might consider that a written letter or e mail to the company could be a good initial step to initialise a conversation.

Should a course of engagement not meet our desired expectation or outcomes, we may consider escalating, for instance if the response to a letter written does not meet the desired outcome, we may consider setting up a meeting with the board or senior management.

LEA 11. Examples of ESG engagements

11.1. Provide examples of the engagements that your organisation or your service provider carried out during the reporting year.

Add Example 1

ESG Topic	Climate Change Executive Remuneration Climate Change Human rights Company leadership issues Pollution General ESG Diversity Shareholder rights Health and Safety Sustainability reporting Water risks Labour practices and supply chain management Anti-bribery and corruption Deforestation Aggressive tax planning Cyber security Other governance Plastics Other
Conducted by
Objectives	- Commit to short-, mid- and long-term carbon emissions reduction targets that are based on climate science. There should be a clear explanation of corresponding capital expenditure plans - Perform scenario analysis using a scenario where global warming is limited to the Paris Agreement goal of well below 2˚C - Align executive remuneration to climate change objectives
Scope and Process	As an integral part of Climate Action 100+, we engaged in collaborative manner with different sectors as Oil&Gas or mining. Dialogue focused on conducting climate scenario planning, ensuring lobbying practices are aligned with climate goals and establishing clear coal exit roll-out plans. We made tangible progress in our engagements and we are seeing corporates taking more decisive steps in identifying targets and establishing metrics disclosure.
Outcomes

Add Example 2

ESG Topic	Diversity Executive Remuneration Climate Change Human rights Company leadership issues Pollution General ESG Diversity Shareholder rights Health and Safety Sustainability reporting Water risks Labour practices and supply chain management Anti-bribery and corruption Deforestation Aggressive tax planning Cyber security Other governance Plastics Other
Conducted by
Objectives	pressing companies to proactively seek gender equality at every level of the corporate hierarchy. We urged tailored policies, culture-specific programmes, and granular performance reporting alongside a clear tone from the top of the organisation on diversity and inclusion. These are key to closing the gender pay gap.
Scope and Process	In 2019, we had discussions around gender diversity with 32 companies. We also actively participated in collaborative industry initiatives such as the 30% Investor Club in the UK and the Workforce Disclosure Initiative. 2019 was a year of promise. We encountered more companies than ever before accepting the growing evidence that gender equality leads to better corporate performance.
Outcomes

Add Example 3

ESG Topic	Health and Safety Executive Remuneration Climate Change Human rights Company leadership issues Pollution General ESG Diversity Shareholder rights Health and Safety Sustainability reporting Water risks Labour practices and supply chain management Anti-bribery and corruption Deforestation Aggressive tax planning Cyber security Other governance Plastics Other
Conducted by
Objectives	Many companies have implemented relevant policies and programmes to deal with these issues, but it is often unclear the extent to which these are meaningfully overseen by senior executives and the board. Also, the disclosure of relevant and granular performance data remains weak. These need reform.
Scope and Process	We engaged with 22 pharmaceutical companies in 2019. We had several discussions with management and, notably, with the non-executive board director in charge of overseeing the committee for product quality and safety. These discussions provided important insights into the responsibilities and the active role the directors play on this issue. We were also able to see how the company was responding to engagement and strengthening its practices.
Outcomes

Add Example 4

ESG Topic	Other Executive Remuneration Climate Change Human rights Company leadership issues Pollution General ESG Diversity Shareholder rights Health and Safety Sustainability reporting Water risks Labour practices and supply chain management Anti-bribery and corruption Deforestation Aggressive tax planning Cyber security Other governance Plastics Other specify
Conducted by
Objectives	Species are becoming extinct at an unprecedented rate. As well as the broader impact of climate change, a notable driver has been damage from corporate practices. At the same time, companies are being harmed by the loss of biodiversity.
Scope and Process	Companies have incorporated different levels of integration of biodiversity issues in their business practices. We strongly encourage all companies to measure and monitor their impact and dependencies on biodiversity. In 2019 we held dialogues on this issue with 33 companies across a range of sectors. On the whole, the response was positive, and discussions were constructive. Several companies have indicated to us they were willing to commit more publicly to addressing biodiversity issues.
Outcomes

Add Example 5

Add Example 6

Add Example 7

Add Example 8

Add Example 9

Add Example 10

11.2. Additional information. [Optional]

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