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Stewardship Matters - Edition 1

Introducing our new update on the Stewardship and ESG activities that we are undertaking on clients’ behalf.

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STEWARDSHIP MATTERS is a new initiative which allows Martin Currie to report on the outcomes of the critically important Stewardship and ESG (Environmental, Social and Governance) activities that our investment teams are undertaking.

Our STEWARDSHIP MATTERS report is also an opportunity for us to share with our clients how we use our global investment reach to lead on ESG issues, and are continually evolving our investment approach to make better informed decisions for a more sustainable future.

Report Summary

The first edition of STEWARDSHIP MATTERS provides a review of Martin Currie’s Stewardship and ESG activity over the first six months of 2020, and specifically focuses on our sector and regional insights regarding climate change, an issue that is very important to both us as investors, and our clients.

Key Highlights

  • Despite the physical barriers imposed by the global lockdown, we have continued our extensive engagement and voting activities over the past six months.
  • Ongoing ESG innovation has resulted from collaboration across the investment teams:
    • Continued refinement of proprietary ESG scoring
    • Mapping of UN Sustainable Development Goals (SDGs)
    • Launch of the Australia Sustainability Equity strategy
    • Establishment of Carbon Value-at-Risk (CVaR) modelling
  • COVID-19 has led to increased intensity on ESG from clients - Climate change continues to be dominant theme.
  • We showcase our investment team’s sector and regional insights on the potential risks and opportunities from climate change

An encouraging validation of the time and effort invested in developing and improving our market-leading credentials capabilities is our recently awarded 2019 A+ rating for Strategy and Governance, Incorporation and Active Ownership on this year’s PRI (Principles for Responsible Investment) scorecard - the fourth year in a row of being awarded the top rating.

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ENGAGEMENTS

387
Total engagements

167
Companies engaged

30
Markets covered


PROXY
VOTING

33
Markets covered

289
Total shareholder Meetings

104
Meetings where we voted against


3797
Total resolutions:

223
Resolutions voted against management

Stewardship is about partnership – how we work with our clients, how we partner with them to deliver the outcomes that they’re looking for and create long-term, sustainable value for them.


Regulatory information and risk warnings

This information is issued and approved by Martin Currie Investment Management Limited (‘MCIM’). It does not constitute investment advice. Market and currency movements may cause the capital value of shares, and the income from them, to fall as well as rise and you may get back less than you invested.

The analysis of Environmental, Social and Governance (ESG) factors form an important part of the investment process and helps inform investment decisions. The strategy does not necessarily target particular sustainability outcomes.

The information contained in this presentation has been compiled with considerable care to ensure its accuracy. But no representation or warranty, express or implied, is made to its accuracy or completeness.

This document has been prepared for professional investors, it is intended for the recipient only and may not be distributed to third parties. The document does not form the basis of, nor should it be relied upon in connection with, any subsequent contract or agreement. It does not constitute, and may not be used for the purpose of, an offer or invitation to subscribe for or otherwise acquire shares in any of the products mentioned.

Past performance is not a guide to future returns.

The views expressed are opinions of the portfolio managers as of the date of this document and are subject to change based on market and other conditions and may differ from other portfolio managers or of the firm as a whole. These opinions are not intended to be a forecast of future events, research, a guarantee of future results or investment advice.

The information provided should not be considered a recommendation to purchase a particular strategy / fund or sell any particular security. It should not be assumed that any of the security transactions discussed here were or will prove to be profitable.