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During August 2024, the Perennial Responsible Investment Policy was updated. The following changes have been implemented into the updated policy.
- Perennial Private Investments was added to the policy which has included implementing fund specific exclusions, ESG&E Scoring, integrating ESG considerations into Investment Committee (IC) meetings and investment documents & discussion of ESG engagement activities at IC meetings.
- Exclusions associated with Perennial Better Future, Perennial Smaller Companies and Perennial Australian Shares have had minor adjustments and alignments across funds to enhance consistency.
- Perennial Smaller Companies exclusion of thermal coal has been amended to align with Perennial Australian Shares fund. The new exclusion states that The Perennial Value Smaller Companies Trust and the Perennial Value Microcaps Opportunities Trust excludes companies in its investable universe with “>5% revenue from the production of thermal coal”.
- An objective & prioritisation of our stewardship activities was added to the policy to align with industry best practice.
- A “Just Transition” & Biodiversity consideration under climate, was included in the policy to ensure we are staying ahead of the key sustainability concerns in the industry.
- A note that the Proxy Voting procedure outlined in the RI Policy is for Australian listed equities investments to prepare for onboarding of other Perennial boutiques.
- A management of conflicts of interest section & changes to RI Policy section was incorporated into the document to align with best Responsible Investment practice.
Please find a link to the updated RI policy here.
