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PRI reporting framework 2020

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Indirect – Manager Selection, Appointment and Monitoring
Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (C) Implementation: Integration of ESG factors [LEI 08 - 10] Outputs and outcomes [LEI 12 - 13]
Direct - Listed Equity Active Ownership
Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]
Direct - Property
Overview [PR 01] Pre-investment (selection) [PR 04 - 06] Selection, appointment and monitoring third-party property managers [PR 07] Post-investment (monitoring and active ownership) [PR 08 - 14] Overview [PR 08] Property monitoring and management [PR 09 - 10] Property developments and major renovations [PR 11] Community engagement [PR 14] Outputs and outcomes [PR 15 - 16]
Direct - Infrastructure
Overview [INF 01 - 02] Pre-Investment (Selection) [INF 05 - 09] Selection, appointment and monitoring of third-party infrastructure operators [INF 10] Post-investment (monitoring and active ownership) [INF 11 - 16] Overview [INF 11] Infrastructure Monitoring and Operations [INF 12 - 14] Stakeholder engagement [INF 16] Outputs and outcomes [INF 17 - 18]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Direct - Infrastructure » Post-investment (monitoring and active ownership)

Post-investment (monitoring and active ownership)

Overview

INF 11. ESG issues in post-investment activities

11.1. Indicate whether your organisation and/or operators consider ESG issues in post-investment activities relating to your infrastructure assets.

11.2. Indicate how your organisation, and/or operators, considers ESG issues in the following post-investment activities relating to your infrastructure assets.

11.3. Describe how your organisation, and/or operators, considers ESG issues in post-investment activities related to your infrastructure investments. [Optional]

Our direct asset monitoring process includes ESG related issues.  Through our initial due diligence process where ESG risks are raised these are documented in a risk register.  

The FSS Investment Risk and Compliance team, in conjunction with the FSS Investment Team maintains a register of the material risks including ESG specific risks, associated with the individual direct assets as well as the controls put in place to mitigate each of the material risks.  This risk register is reported to a sub-committee of the board, the Direct Asset Committee (“DAC”) on a 6-monthly basis.

We report regularly to governance bodies on asset performance (including ESG emerging and actual risks) regularly (e.g. DAC and Special Purpose Vehicle (SPV) Boards and our internal Portfolio Management Investment Committee).  SPV Board agendas have standing ESG agenda items.

Infrastructure Monitoring and Operations

INF 12. Proportion of assets with ESG performance targets

12.1. Indicate the proportion of infrastructure assets for which your organisation and/or operators included ESG performance in investment monitoring during the reporting year.

 (in terms of number of infrastructure assets)

12.2. Indicate ESG issues for which your organisation, and/or operators, typically sets and monitors targets (KPIs or similar) and provide examples per issue.

List up to three example targets per issue 

          Toxic waste management - waste remediation at airport
        
          Energy efficiency - renewable energy installation

List up to three example targets per issue 

          Safety - monitoring of safety incidents
        
          Worker's rights - labour issues

List up to three example targets per issue 

          Business plan monitoring
        
          Capital expenditure monitoring

12.3. Additional information. [Optional]

INF 13. Proportion of portfolio companies with ESG/sustainability policy

13.1. Indicate whether you track the proportion of your infrastructure investees that have an ESG/sustainability-related policy (or similar guidelines).

13.2. Indicate the proportion of your infrastructure investees that have an ESG/sustainability-related policy (or similar guidelines).

(in terms of number of infrastructure investees)

13.3. Describe how your organisation, and/or your operators, contribute to the infrastructure investees’ management of ESG issues. [Optional]

Board oversight and one asset the CEO’s KPIs are linked to ESG issues

Our direct asset monitoring process includes ESG related issues. Through our initial due diligence process where ESG risks are raised these are documented in a risk register.

The FSS Investment Risk and Compliance team, in conjunction with the FSS Investment Team maintains a register of the material risks including ESG specific risks, associated with the individual direct assets as well as the controls put in place to mitigate each of the material risks. This risk register is reported to a sub-committee of the board, the Direct Asset Committee ("DAC") on a 6-monthly basis.

We report regularly to governance bodies on asset performance (including ESG emerging and actual risks) regularly (e.g. DAC and Special Purpose Vehicle (SPV) Boards and our internal Portfolio Management Investment Committee). SPV Board agendas have standing ESG agenda items.

Our internal RI team provides ESG oversight and expertise to our investee companies – examples include modern slavery; energy efficiency solutions.   We also work closely with management to refine ESG reporting templates for the Board.

INF 14. Type and frequency of reports received from investees (Private)

Infrastructure Maintenance

INF 15. Proportion of maintenance projects where ESG issues were considered (Not Applicable)

Stakeholder engagement

INF 16. Proportion of stakeholders that were engaged with on ESG issues (Private)

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