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PIRC Limited

Service Providers Framework 2019

You are in Research and Data Provision » Research/process level

Research/process level

RDP 02. Sources for research and/or rating

02.1. Indicate the types of sources you use for research and/or ratings of companies/sectors/geographies or similar. Tick all that apply.

02.2. Indicate how ESG factors are incorporated into your research and/or rating methodology

02.3. Describe how you define materiality and how this is captured in your research and/or rating methodology as well as final product.

          For PIRC, whatever raises ‘red flags’ on governance structures or procedures at a company is ‘material’ for analysis, particularly if we consider it may cause serious consequences for the company and its shareholders.  
Each proposal on company ballots is screened against our guidelines. These guidelines are reviewed annually, before being circulated for discussion with clients.
        

02.4. Additional information. [OPTIONAL]


RDP 03. Stakeholder input

03.1. Describe how you actively include input and information, wherever possible, from relevant stakeholders or interested parties, in the research process or in reaching assessment conclusions.

          We base our research on publicly available information, which includes regulatory information and information available on companies’ websites. When we receive information not directly sourced from the company, such as that provided by stakeholder analysis and reports, we consider whether to include this in our reports. Whether or not this information is included is based: first, on the fact checking of the accuracy of such statements, and we only use the verified factual content of these reports; and second, whether such information is material for the analysis i.e. if it raises concerns about governance at the company and has the potential to lead to serious consequences for the company and its shareholders.
        

03.2. Additional information. [OPTIONAL]


RDP 04. Up-to-date assessment and ratings

04.1. Indicate how you ensure that your ESG assessment of companies/ sectors/ geographies or similar is up-to-date and that new information is incorporated or new assessments are conducted at reasonable intervals.

04.2. Additional information. [OPTIONAL]


RDP 05. Balanced research and assessment

05.1. Indicate how you typically ensure a balanced approach to your research methodology and assessing/rating of companies/sectors/geographies or similar. Tick all that apply and explain your approach to each option.

Type of indicators

Explain your approach

          In assessing companies’ corporate governance and corporate responsibility standards against our best practice guidelines, we always consider the company's adherence to their own principles when dealing with controversies, in their reporting, and actual implementation in practice. Lack of evidence of monitoring or implementation of company policies, would be considered material in our analysis of the effectiveness of sustainability and ESG policies within the company.
        

Explain your approach

          In assessing companies’ corporate governance and corporate responsibility standards against our best practice guidelines, we always consider the company's adherence to their own principles when dealing with controversies, in their reporting, and actual implementation in practice. Lack of evidence of monitoring or implementation of company policies, would be considered material in our analysis of the effectiveness of sustainability and ESG policies within the company.
        

05.2. Additional information. [OPTIONAL]


RDP 06. Consistency and comparability

06.1. Describe the control processes in place to ensure quality of research.

          The allocated researcher has the main responsibility for collecting material and data, relevant for the production of the initial report. All reports are checked by another staff member prior to publication. After publication, reports are sent to issuers via automated mail.  
In some cases (e.g. companies in all FTSE listed companies) we send the report to the issuer prior to publication, and include in the report comment on the response from this engagement. Issuers can respond at any time. Where factual errors are pointed out, changes are made to correct the report. A dedicated web page is provided on the PIRC web site for company comments.
A third level of quality control is performed prior to issuing bespoke reports.
        

06.2. Additional information. [OPTIONAL]


RDP 07. Emerging ESG issues and trends (Private)


RDP 08. Client use of outputs (Private)


RDP 09.


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