UNPRI
JCP is a signatory to the United Nations Principles for Responsible Investment.
We incorporate ESG issues into our investment decision-making process when assessing a company's generic key value driver (KVD) risk factors (see below):
- External - regulatory, legal, political, macro-economic, industry, environmental, social, etc.
- Internal - governance, management, incentives, employee relations, structure, power, culture, etc.
These risks are incorporated into our company valuations, and risk and return calculations, as well as the qualitative overlay part of our portfolio construction process.
What differentiates ESG issues from other generic KVD risk factors is that as a matter of policy we seek to actively engage with company management, directors and other stakeholders on these issues, to encourage change where we believe the issue is detrimental to the environment, the society in which the company operates (social), or minority shareholders (governance). Whereas on other generic KVD risk factors we reserve the right to passively engage (i.e. sell a company's shares), rather than seek change from a company's management and/or board.
JCP - ESG Policy (24Kb PDF)
JCP - Proxy Voting Policy (36Kb PDF)
