IRELAND- The National Pensions Reserve Fund (NPRF) has appointed Hermes Equity Ownership Services (EOS) to represent the fund's global equity interests.
Hermes EOS will execute proxy votes on the NPRF’s behalf and will engage with companies on environmental, social and governance issues (ESG) across the NPRF’s €15.9bn worldwide equity portfolio.
It will also help the NPRF apply the United Nations Principles for Responsible Investment, to which it was a founding signatory in 2006.
As an investor in 2,250 companies worldwide, the NPRF said it acknowledged that ESG issues can materially affect long term investment performance.
With this in mind, it said it was developing a responsible investment policy to be consistent with its fiduciary duty to seek a commercial return.
Paul Carty, chairman of the NPRF Commission, said: “The NPRF plans to take a proactive role in promoting the importance of good environmental, social and governance practices in the interests of enhanced long term corporate financial performance. With our shareholder engagement and proxy voting service in place we now have the necessary support to do this effectively.”
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