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Coronation Fund Managers

PRI reporting framework 2020

You are in Strategy and Governance » Promoting responsible investment

Promoting responsible investment

SG 09. Collaborative organisations / initiatives

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We are regularly in contact with the local representatives to share any developments (industry trends, current challenges, client interests etc). We attended various events during the year. We partnered with the PRI to arrange a Principal Officer Breakfast educating on ESG integration and Responsible Investing.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We subscribe to the site CFA Institute Market Integrity Insights. As a company we have adopted the CFA asset manager code of ethics and professional conduct.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We have officially signed on to Climate Action 100+ and identified Sasol and Eskom as the two companies we would like to join the engagements as a collaborating investor.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We participated in the process of establishing the South African Code for Responsible Investing (CRISA). Coronation fully supports the principles set out in CRISA, which stresses the importance of integrating sustainability issues, including ESG, into long-term investment strategies and gives guidance on how institutional investors should execute investment analysis, investment activities and exercise rights so as to promote sound governance.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We’ve recently joined the International Corporate Governance Network ( ICGN), a leading authority on global standards of corporate governance and investor stewardship. Brand alignment with ICGN reflects a commitment to the highest standards of corporate governance.

It has always been an important part of our investment process to ensure that the companies we are invested in maintain high standards of corporate governance. As the emphasis on sustainable investing has increased, we have responded through greater engagement with companies. Coronation values the opportunity to join ICGN to demonstrate our commitment to stewardship.

 

          Coronation participates in the Association for Savings and Investment South Africa (ASISA) and the Investment Company Institute.
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

The majority of our regulatory interaction is with the Financial Sector Conduct Authority (FSCA), and more recently the Prudential Authority, either directly or through our involvement with the Association for Savings and Investment South Africa (ASISA).

We are committed to playing an active role in shaping the South African financial services industry by working with industry partners and the FSCA. A number of Coronation employees serve on various ASISA Board committees, standing committees and working groups, and we have engaged in numerous significant legislative consultations. This includes the Retail Distribution Review, the Financial Intelligence Centre Act Amendment Bill, changes in the tax treatment of Collective Investment Schemes and the Financial Sector Regulation Bill (Twin Peaks), which creates the Prudential Authority and a dedicated market conduct regulator, namely the FSCA. In line with our offshore fund offering and our strategy to grow our global franchise, we are members of the Investment Company Institute. This helps us to remain abreast of international industry and regulatory developments and to adjust our practices and strategy in a timely manner.

          Thinking Ahead Institute
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We are members and active participants in the Thinking Ahead Institute, a global not-for-profit group whose aim is to influence change in the investment world for the better by improving the provision of savings. We paticipated in variour working groups and summits during the year


SG 09.2. Assets managed by PRI signatories (Private)


SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate the actions your organisation has taken to promote responsible investment independently of collaborative initiatives. Provide a description of your role in contributing to the objectives of the selected action and the typical frequency of your participation/contribution.

Description

          We are members and active participants in the Thinking Ahead Institute, a global not-for-profit group whose aim is to influence change in the investment world for the better by improving the provision of savings. During 2019 we participated in the Sustainable Investing Seminar; the Sustainability Impact Working Group and the Value Creation Working Group.
        

Frequency of contribution

Description

          Our annual client event we assembled a panel of world-class thought leaders to discuss disruptions and developments in their fields of expertise and how these translate into investment risk and opportunity. Mary Robinson spoke on Climate Justice and why Climate change is a threat to human rights. A senior Portfolio Manager of Coronation, Neville Chester, discussed our approach to ESG and some applications.
        

Frequency of contribution

Description

          Pallavi Ambekar, a senior portfolio manager of Coronation, wrote on Engaging Responsibly in our quarterly publication distributed to clients.
        

Frequency of contribution

Description

          We partnered with the PRI to arrange a Principal Officer Breakfast educating on ESG integration and Responsible Investing. The agenda included Climate Change, Just Transition and the SDGs. Here asset owners were encouraged to sign up to the PRI.
        

Frequency of contribution

Description

          The Association for Savings and Investment South Africa (ASISA) is the primary channel through which Coronation engages with policymakers and regulators. Coronation employees participate in several board committees, standing committees and working groups. We are represented on ASISA’s Investments Board Committee. The Investment Committee have engaged with government re. prescribed assets; they provided feedback re. the NHI; they engaged with the audit profession trust initiative, SAPTI, around a white paper on reforms of the audit profession; meetings with the DPE around reducing the cost of renewables etc.

The RI Standing Committee under the Investments Board Committee are very active in engaging with FSCA/NT/UNPRI/CRISA and general sustainability issues. The RI sub-committee is engaging with the FSCA regarding the guidance note on climate change.
        

Frequency of contribution

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]


SG 11. Dialogue with public policy makers or standard setters (Private)


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