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Pathfinder Asset Management

PRI reporting framework 2020

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%)
48 %
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%)
52 %
アクティブ運用している上場株式の合計 154%

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。

We believe investing in a socially responsible manner will lead to better investment outcomes for our investors and better outcomes for society generally.

Considering all operational risks over a long-term horizon includes reviewing Environmental, Social and Governance (ESG) factors in their investment process.

We have chosen to avoid investing in some industries or companies that have significant ESG risks which we do not feel comfortable investing ie for example Tobacco. Our thematic strategies are based on broader ESG issues that we feel will have a significant impact if not addressed for example the water fund. 

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]

For all listed equity, Pathfinder excludes companies with (a) revenue from armaments, gambling, tobacco, thermal coal or pornography and (b) high levels of current operational “controversy”, and then prioritize companies with high environmental, social and governance scores.

 

In addition to this, for the Water Fund Pathfinder selects listed water stocks from developed markets and screens for animal testing and animal products. Our Global Property Fund uses ESG screening; our 4 main sustainable investment themes are water, forestry, sustainable data centres and renewable energy.


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

We believe investing in a socially responsible manner will lead to better investment outcomes for our investors and better outcomes for society generally.

We have chosen to avoid investing in some industries or companies that have significant ESG risks, for example tobacco, thermal coal and controversial weapons. 

 

スクリーニング実行者

説明

We invest in companies with high ESG scores we see as outperforming their industry peers. Sustainalytics provides data and performance relative to peers for each ESG criteria and we carry out independent research. Our thematic strategies are based on broader ESG issues that are likely to have a significant impact if not addressed as in the water fund, and we invest in companies with the best ESG performance. 

スクリーニング実行者

          WHO Framework Convention on Tobacco Control (2003) Cluster Munitions Prohibition Act NZ (2009); Nuclear Disarmament & Arms Control Act NZ (1987); Convention on Cluster Munitions
        

説明

Pathfinder have chosen to support the WHO Framework Convention on Tobacco Control (2003) whose aim is to "protect present and future generations from the devastating health, social, environmental and economic consequences of tobacco consumption and exposure to tobacco smoke". We therefore have chosen to exclude tobacco related investments from our portfolio.

We also exclude controversial weapons according to national and international legislation:  Cluster Munitions Prohibition Act NZ (2009); Nuclear Disarmament & Arms Control Act NZ (1987); Convention on Cluster Munitions (2008); South Pacific Nuclear Free Treaty (1986); Nuclear Non-Proliferation Treaty (1970)

We exclude companies that do not respect basic human rights, in accordance with the UN Global Compact Principles and the UN Guiding Principles on Business and Human Rights.

 

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。

The screening criteria are established to reflect Pathfinder's investing values.  

Pathfinder uses the NZ Super Fund exclusions list as a starting point for our exclusions list.This list is updated on an ad-hoc basis but is at least once per annum. We also describe our screening in our ethical investment policy on our website.

All changes are amended within our exclusions policy which is available on our website.

Investors are notified in our monthly reporting if screen criteria are changed. 


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。

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。

05.5. 補足情報 [任意]


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


B) 実施:テーマ

LEI 07. Types of sustainability thematic funds/mandates

07.1. 組織が運用している、サステナビリティをテーマとするファンドやマンデートの種類を記載してください。

07.2. 組織でのサステナビリティをテーマとしたファンドのプロセスについて説明してください。 [任意]

Pathfinder have three responsible investment funds that focus on water, global property, and broader responsible investment. 

The Water Fund is both environmentally and socially responsible - we invest in companies that have a positive impact on the global water scarcity crisis - e.g. innovative technologies. The fund also has an animal welfare focus.

The Global Property fund focuses on sustainability and energy efficiency.

The Global Responsibility Fund invests in companies with strong ESG standards.

Our KiwiSaver (CareSaver) funds have only stocks selected to our highest ethical criteria - this is more strict than our other responsible funds; it excludes animal testing and factory farming.


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]

ESG factors are researched by both an external ESG service provider and our in-house team.


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。

09.5. 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。

09.6. 補足情報 [任意]


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


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