Escalation Process


The purpose of an engagement escalation process is to outline what actions and processes the Fund may undertake when ongoing engagement has been unsuccessful, or a company has been unresponsive.

Depending upon the nature and significance of an issue and responsiveness of a company to engagement, there may be instances where the Fund will escalate its engagement activities.

A typical engagement will take between 1 – 3 years to complete and may require multiple engagements before an issue is satisfactorily resolved. See figure 1 below.


Figure 1: Engagement process


The Responsible Investment Team will seek input from portfolio managers, external fund managers and service providers (where applicable) before undertaking additional or alternate engagement activities.

Escalation activities involve internal approval processes and may include:

  • Expressing concerns to alternative company representatives or collectively with asset managers or other asset owners
  • Holding discussions with other equity, bondholders or stakeholders
  • Public statement
  • Submitting a shareholder resolution
  • Legal actions against investee companies in accordance with our Litigation Policy
  • As a last resort exiting a stock.