It received an A+ rating for its approach to strategy and governance, the fifth year it has achieved the top grade. Other key results included A+ marks for the manager selection, appointment and monitoring module for infrastructure, private equity and property investments, the first time the fund has been judged on these categories.
“We were particularly pleased at the infrastructure category result, given this is an area of increasing focus for the Fund, both in renewable energy infrastructure and low-carbon transport with our bid for the Auckland Light Rail project a prime example,” said NZ Super Fund head of responsible investment Anne-Maree O’Connor.
“The fund takes a strong and purposeful approach to responsible investment. We believe that environmental, social and governance (ESG) factors are material to long-term returns.”
The UNPRI is the leading global proponent of responsible investment. It seeks to understand the investment implications of ESG factors and to support signatories to incorporate them into investment and ownership decisions.
The Super Fund was among the founding 25 signatories to the principles in 2006.
The fund received A+ or A ratings for all categories it was assessed against, including direct listed equity and active ownership. Improvements in the past year included in the listed equity category where heightened disclosure of all voting decisions saw it regain an A+ grade.
“ESG considerations are integrated into our due diligence processes, opportunity and access point selections, as well as ownership activities such as exercising our voting rights and engaging with companies to improve their policies and practices,” O'Connor said.
“The fund remains committed to continuous improvement of our activities, so that we meet the expectations of New Zealanders who want us to invest in a responsible manner. We’re very happy to have maintained a top-tier placing among UNPRI peers globally.”
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