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We engage with businesses in our portfolio in order to understand them better and to encourage a more progressive approach to environmental, social and governance (ESG) issues. Engagement is undertaken directly by members of WHEB’s investment team and any new insights or information is fed directly back into the investment process.

Horiba Ltd.

Board-level gender diversity

View 2019 Engagement Case Study...

TPI Composites

ESG Disclosure

View 2019 Engagement Case Study...

Premier Inc.

Governance and sustainability

View 2019 Engagement Case Study...

Johnson Controls

CEO Remuneration and Board Independence

View 2018 Engagement Case Study...

MSA Safety

Governance - Independent Board Directors

View 2018 Engagement Case Study...

Smurfit Kappa

Board-level gender diversity

View 2018 Engagement Case Study...

Lenzing

Local pollution around company’s factory in West Java

View 2017 Engagement Case Study...

Orpea

Board Director independence

View 2017 Engagement Case Study...

CSL

Encouraging high ethical standards in blood plasma collection

View 2017 Engagement Case Study...

Company engagement in 2019 (by topic)

Governance (not ESG Related)

ESG Disclosure and Governance

Social Issues

Environmental Issues

In 2019, we engaged with 43 individual companies representing 83% of the companies held in the investment strategy at the year end.

In many cases we engage businesses on more than one issue in the course of the year. In total there were 112 separate engagements with companies. The majority of engagement is on corporate governance issues like the independence of board directors or CEO remuneration (32% of all engagements). 24% of engagement was focused on encouraging more and better ESG disclosure from companies. The remainder address social issues like gender diversity (23%) and environmental issues like climate change (21%).

Effectiveness of company engagement

Successful

Partially Successful

Unsuccessful

We also capture information on how successful we believe we have been with our engagement.

A ‘successful’ engagement is one where the company agrees to amend its approach to the issue in question. A ‘partially successful’ engagement is one where the company acknowledges our concern and agrees to consider it but does not commit to change anything. An ‘unsuccessful’ engagement is one where the company either does not respond to us or refuses to amend its practices.

"These guys are the real deal. We greatly value WHEB’s thoughtful input into our approach to sustainability."

Bill Siwek, Chief Executive Officer, TPI Composites.

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