Prudential plc Defined Benefit Scheme: recommendations
RI policy, implementation and monitoring
It is not clear from the information available to FairPensions whether the Prudential Scheme is paying careful attention to the implementation and monitoring of a detailed RI policy. If this is not the case, we recommend that steps are taken which should include:
- Establishing a detailed RI policy, incorporating active voting in all companies globally, and an engagement policy.
- Establishing clear measures to ensure fund managers' performance on ESG issues is carefully monitored and regularly assessed.
- Incorporating assessment of the capacity of fund mangers to carry out the Scheme's ESG policy into its fund manger selection process, and into its investment management agreements
- Consideration of membership of the UN PRI, both for itself and as a screen re fund manager selection
Transparency
Given the fundamental importance of transparency to responsible investment, significantly expanding the disclosure of information on its website, to include:
- Detailed statements of RI policy, policy implementation and performance monitoring
- Full voting records and summary voting analysis
- Detailed ESG engagement initiatives and outcomes
- Inclusion of a detailed section on responsible investment within its annual reports
Download Prudential plc Defined Benefit Scheme's full scorecard
If you are a member of this pension scheme, why not email your pension scheme to ask whether they have implemented all or any of these recommendations.
