| Organisational Overview |
| 1. What were your organisation's total assets under management as of 31 December 2007 (in millions)? | 6400 |
| Please select currency | Swiss franc (CHF) |
| 1a. If 'Other' was selected, please specify the other currency here | No Answer |
| 2. What category would best describe your organisation? | Pension or superannuation or retirement or provident fund or plan |
| 3. What proportion (in %) of your fund is defined benefit and what proportion (in %) is defined contribution? (please only answer this question if you answered “Pension or superannuation or retirement or provident fund or plan” to Q2) |
| Defined benefit | 100 |
| Defined contribution | 0 |
| 4. Please provide an overview of your asset mix as of 31 December 2007 (in %): |
| Listed equity (developed market, active) | 29 |
| Listed equity (developed market, passive) | 3.7 |
| Listed equity (emerging market, active) | 0.9 |
| Listed equity (emerging market, passive) | 0 |
| Fixed income - developed markets | 27.5 |
| Fixed income - emerging markets | 0 |
| Real estate or property | 33.2 |
| Private equity | 0.3 |
| Hedge fund | 0 |
| Infrastructure | 0 |
| Currency | 0 |
| Commodities | 0 |
| Cash | 5.4 |
| 0 |
| 5. Please indicate what percentage of your assets are managed internally and what percentage are managed externally (in %): |
| | Internal | External |
| Listed equity (developed market, active) | 0 | 100 |
| Listed equity (developed market, passive) | 0 | 100 |
| Listed equity (emerging market, active) | 0 | 100 |
| Listed equity (emerging market, passive) | 0 | 0 |
| Fixed income - developed markets | 29 | 71 |
| Fixed income - emerging markets | 0 | 0 |
| Real estate or property | 100 | 0 |
| Private equity | 0 | 100 |
| Hedge fund | 0 | 0 |
| Infrastructure | 0 | 0 |
| Currency | 0 | 0 |
| Commodities | 0 | 0 |
| Cash | 100 | 0 |
| 0 | 0 |
| 6. Please provide the following contact details for your main PRI contact: |
| Name | Michel Ducommun |
| Title | Responsible for ESG contacts |
| E-mail | michel.ducommun@freesurf.ch |
| Telephone number | 0041227574104 |
| Principle 1 |
| 7. Do you have a formal investment policy statement that makes specific reference to the integration of responsible investment (RI) or environmental, social and governance (ESG) issues within investment decision making and ownership practices? | Yes, it is integrated into a broader investment policy |
| 9. In what year were RI/ESG issues first formally addressed in a policy statement (integrated or independent)? | 1995 |
| 10. Has your statement that makes specific reference to the integration of RI or ESG issues been disclosed publicly? | Yes |
| 11. Please indicate how this statement that makes specific reference to the integration of RI or ESG issues can be obtained (a URL would be sufficient): | http://www.cia.ch/FIN_ReglPlac.php#DevDurable
and
Rapport de Gestion 2006 |
| 12. For what percentage of your internal assets under management do you integrate RI/ESG issues into your internal investment decision-making processes? (in %) |
| Fixed income - developed markets | 100 |
| Real estate or property | 100 |
| Cash | 0 |
| 13. To what extent have you integrated RI/ESG issues into your internal investment decision-making processes? |
| Fixed income - developed markets | To a large extent |
| Real estate or property | To a large extent |
| 14. For what percentage of your external assets under management are RI/ESG issues integrated into the investment decision-making processes of your external investment managers? (in %) |
| Listed equity (developed market, active) | 100 |
| Listed equity (developed market, passive) | 100 |
| Listed equity (emerging market, active) | 100 |
| Fixed income - developed markets | 100 |
| Private equity | 100 |
| 15. To what extent have RI/ESG issues been integrated into the investment decision-making processes of your external investment managers? |
| Listed equity (developed market, active) | To a large extent |
| Listed equity (developed market, passive) | To a large extent |
| Listed equity (emerging market, active) | To a large extent |
| Fixed income - developed markets | To a moderate extent |
| Private equity | To a moderate extent |
| 16. What proportion of your assets involve screening out or excluding stocks or sectors based on ethical (rather than long-term financial) criteria? (in %) | 100 |
| 17. Do you have any staff dedicated to RI/ESG issue analysis and/or implementation? |
| | Dedicated | Combined full-time equivalents |
| Investment analyst | 0 | 0 |
| Research analyst | 0 | 0 |
| RI/ESG issue policy advisor | 0 | 0 |
| (proxy) Voting specialist | 0 | 0 |
| Engagement specialist | 0 | 0 |
| Portfolio manager | 0 | 0 |
| 0 | 0 |
| 18. Which Board committee or other executive body has overall responsibility for RI/ESG issues? | Comité |
| 19. Do you assess the capabilities of internal investment staff to incorporate RI/ESG issues? | Yes |
| 20. Do you assess the capabilities of external investment managers to incorporate RI/ESG issues? | Yes |
| 21. Approximately what percentage of your internal non-ESG-specialist investment management staff received RI/ESG training in 2007? (in %) |
| 22. What forms of RI/ESG training or awareness raising have been invested in, encouraged or provided for internal staff (investment and other)? | Conferences |
| 23. Did you support the development of nonproprietary RI/ESG issue-related tools, metrics, analysis or academic research in 2007? | To a moderate extent |
| 24. Please indicate how the results of nonproprietary RI/ESG issue-related tools, metrics, analysis or academic research development you supported can be obtained if they have been disclosed publicly (a URL would be sufficient): | www.ethosfund.ch |
| 25. Have you advocated/supported/ encouraged/participated in RI/ESG issue-related industry-wide training for investment professionals during 2007? | Spoke at or attended conferences |
| 26. What was your most significant achievement in 2007 in relation to your implementation of Principle 1? | Enter text response here. |
| 27. What was your biggest barrier in 2007 with relation to your implementation of Principle 1? | Enter text response here. |
| 28. Please add any overall comments and clarifications related to Principle 1 here. | Enter text response here. |
| Principle 2 |
| 29. To what extent did you employ the following approaches in your 2007 active ownership strategy for listed equities? |
| (Proxy) voting | To a large extent |
| Direct engagement conducted privately | Not applicable |
| Direct engagement conducted publicly | Not applicable |
| Collaborative engagement | To a moderate extent |
| Filing shareholder resolutions | Not applicable |
| Co-filing shareholder resolutions | To a large extent |
| No Answer |
| 30. To what extent did you employ the following approaches in your 2007 active ownership strategy for all asset classes other than listed equity? |
| (Proxy) voting | Not at all |
| Direct engagement conducted privately | Not at all |
| Direct engagement conducted publicly | Not at all |
| Collaborative engagement | Not at all |
| Not at all |
| 31. Do you have a (proxy) voting policy? | Yes - disclosed publicly |
| 32. To what extent does your (proxy) voting policy direct action on ESG issues? For each issue, please indicate the extent of direction. |
| Environmental | To a large extent |
| Social | To a large extent |
| Governance | To a large extent |
| 33. Does your (proxy) voting policy apply to all voting regions (where possible)? | Yes |
| 34. Please indicate how your (proxy) voting policy can be obtained (a URL would be sufficient): | The CIA votes after the recommendations of Ethos, with very few exceptions. These recommendations are published by Ethos : http://www.ethosfund.ch |
| 35. Do you ensure that voting is done in accordance with your (proxy) voting policy? | Yes for some |
| 36. What percentage of total votes cast were against management? (in %) | 30 |
| 37. What percentage of shareholder resolutions relating to environmental, social or governance issues was supported? (in %) |
| Environmental | 100 |
| Social | 100 |
| Governance | 100 |
| 39. How many shareholder resolutions related to RI/ESG issues did you participate in during 2007? |
| As lead filer | 0 |
| As co-filer | 5 |
| Planning to be lead filer in 2008 | 0 |
| Planning to be co-filer in 2008 | 6 |
| 40. How were portfolio companies engaged with in 2007? Please check all that apply. | An external engagement overlay service was employed |
| 42. Do you systematically ask your external investment managers to bring RI/ESG issue-related engagement opportunities to you? | To a small extent |
| 43. How many portfolio companies did you engage directly/were engaged on your behalf on ESG issues in 2007? |
| | Extensive engagement | Moderate engagement | Basic engagement |
| Environmental | 0 | 100 | 0 |
| Social | 0 | 100 | 0 |
| Governance | 100 | 0 | 0 |
| 44. What RI/ESG-related issues were addressed in your shareowner engagement initiatives? Please check all that apply. | Environment,Governance,Health,Human rights,Labour issues |
| 45. How were RI/ESG issue-related engagement targets and topics identified? Please check all that apply. | Ad hoc/reactive |
| 46. Do you set RI/ESG issue-related engagement objectives and attempt to evaluate success? | To a moderate extent |
| 47. Have you sought evidence relating to the effectiveness of your active ownership strategy? Please check all that apply. | Governance practices changed |
| 48. What was your most significant achievement in 2007 in relation to your implementation of Principle 2? | Change in the governance of an important swiss firm : CEO and president should not be the same person. |
| 49. What was your biggest barrier in 2007 with relation to your implementation of Principle 2? | Enter text response here. |
| 50. Please add any overall comments and clarifications related to Principle 2 here. | Enter text response here. |
| Principle 3 |
| 51. Have you asked that investee companies (or other investment entities) produce standardized reporting on their RI/ESG issue policies, practices or performance (within annual financial reports or other formats)? | To a small extent |
| 52. What format of standardized reporting on RI/ESG issue policies, practices or performance have you requested? | Integrated with regular financial reports,Standalone corporate social responsibility or sustainability reporting,Carbon Disclosure Project (CDP) |
| 53. Have you provided feedback to investee companies (or other investment entities) on their reporting on RI/ESG issues? | Not at all |
| 54. Have you sought information from companies regarding their adoption of/adherence to norms, standards, codes of conduct or international initiatives related to RI/ESG issues? |
| Adoption | Not at all |
| Adherence | Not at all |
| 55. Which norms, standards, codes of conduct or international initiatives related to RI/ESG issues have you sought information about from companies, with regard to their adoption of/adherence to? | No Answer |
| 56. What was your most significant achievement in 2007 in relation to your implementation of Principle 3? | Enter text response here. |
| 57. What was your biggest barrier in 2007 with relation to your implementation of Principle 3? | Enter text response here. |
| 58. Please add any overall comments and clarifications related to Principle 3 here. | Enter text response here. |
| Principle 4 |
| 59. Are you considering RI/ESG requirements when searching for and selecting the following? |
| External investment manager | Yes |
| Investment consultant | Yes |
| Proxy voting | Yes |
| Engagement overlay | Yes |
| Investment research | Not applicable |
| Internal operations (for example, purchasing, travel, office space etc.) | Not applicable |
| Not applicable |
| 60. Have you linked the following to performance on RI/ESG issues? |
| Investment monitoring | Yes |
| Incentive structure (internal investments) | Not applicable |
| Incentive structure (external investments) | Not applicable |
| Contractual relationships with external investment managers | Yes |
| 61. Are the default pension funds or retirement plans offered to your employees also signatories to the PRI? | Yes |
| 62. To what extent do you encourage your service providers to become PRI signatories? | Planning to in 2008 |
| 64. To what extent do you encourage peer organisations to become PRI signatories? | Planning to in 2008 |
| 65. Do you have evidence that you have played a role in the improved integration of RI/ESG issues by external investment managers? | To a large extent |
| 67. Have you revisited any relationships with service providers in light of RI/ESG issue-related capabilities? | Yes |
| 68. Have you engaged in dialogue, lobbying or initiatives pertaining to government policy and/or industry regulations (for example, stock exchanges, accounting standards) related to RI/ESG issues in 2007? | Not at all |
| 69. What was your most significant achievement in 2007 in relation to your implementation of Principle 4? | Enter text response here. |
| 70. What was your biggest barrier in 2007 with relation to your implementation of Principle 4? | Enter text response here. |
| 71. Please add any overall comments and clarifications related to Principle 4 here. | Enter text response here. |
| Principle 5 |
| 72. Did you use the PRI Engagement Clearinghouse in 2007? | No |
| 73. Did your use of the clearinghouse result in subsequent action or collaboration with other signatories? | No Answer |
| 74. Please elaborate on how the PRI Engagement Clearinghouse could be made more useful: | Enter text response here. |
| 75. To what extent do you participate in the following RI/ESG issue-related collaborative engagement initiatives and/or industry associations? For those not listed, please use the "other" field: | Carbon Disclosure Project |
| 76. Please indicate the three RI/ESG issue-related collaborative engagement initiatives and/or industry associations that you participated in most extensively and indicate how you did so: |
| Carbon Disclosure Project | Through Ethos |
| 77. What was your most significant achievement in 2007 in relation to your implementation of Principle 5? | Enter text response here. |
| 78. What was your biggest barrier in 2007 with relation to your implementation of Principle 5? | Enter text response here. |
| 79. Please add any overall comments and clarifications related to Principle 5 here. | Enter text response here. |
| Principle 6 |
| 80. Have you disclosed how RI/ESG issues are integrated into your investment processes? | Yes - to clients or beneficiaries and the public |
| 81. Please indicated how this disclosure of how RI/ESG issues are integrated into your investment processes can be obtained (a URL would be sufficient): | "In the report ""How leading public pension funds are meeting the challenge"" UNEP FI and UKSIF, 2007"
and
Rapport de gestion 2006
and
http://www.cia.ch/FIN_ReglPlac.php |
| 82. To what extent do you disclose your annual (proxy) voting record? | Disclose votes and guidance explaining votes |
| 83. Please indicated how your (proxy) voting record can be obtained (a URL would be sufficient): | http://www.ethosfund.ch |
| 84. Do you systematically report (privately and/or publicly) on your RI/ESG issue-related engagement activities, results and progress? | To a small extent |
| 85. Please indicate how your reporting on RI/ESG issue-related engagement activities, results and progress can be obtained (if it is publicly available, a URL would be sufficient): | http://www.ethosfund.ch |
| 86. Did you communicate on RI/ESG issues and the PRI to beneficiaries or plan participants in 2007? | To a moderate extent |
| 87. Please indicate how your communication on RI/ESG issues and the PRI to beneficiaries or plan participants can be obtained (if it is publicly available, a URL would be sufficient): | "In our publication ""CIA-Info"""
and
http://www.cia.ch |
| 88. Are you undertaking any additional efforts to raise awareness of the PRI and RI/ESG issues amongst stakeholders? | To a small extent |
| 89. What evidence do you have of the impact on external investment manager practices? Please check those that apply. | Investment decisions,Engagement,Proxy voting,New employment/positions created |
| 90. Have you sought to determine what impact your overall RI/ESG issue-related efforts (voting and engagement, investment decision making, disclosure, etc.) have had on corporate behavior or performance? | To a moderate extent |
| 91. Have you sought to determine what impact your RI/ESG issue-related approach has had on the performance of your portfolio? | To a moderate extent |
| 92. Have you sought to determine what impact your RI/ESG issue-related efforts, requests and guidance have had on the consideration of RI/ESG issues by your external service providers excluding external investment managers (for example: research providers, consultants, etc.)? | To a small extent |
| 93. Do you report on progress and/or achievements relating to the PRI or RI, and how would you like to publish your response to this assessment? | Please automatically publish our responses to the reporting and assessment tool in full on the PRI website |
| 94. What was your most significant achievement in 2007 in relation to your implementation of Principle 6? | Enter text response here. |
| 95. What was your biggest barrier in 2007 with relation to your implementation of Principle 6? | Enter text response here. |
| 96. Please add any overall comments and clarifications related to Principle 6 here. | Enter text response here. |
| Emerging Markets |
| 97. To what extent have you actively thought about how to integrate RI/ESG issues within investment decision making and ownership practices with regards to emerging markets investments? | To a large extent |
| 98. Please describe your activities with regards to integrating RI/ESG issues within investment decision making and ownership practices with regards to emerging markets investments. | Exclusion criteria
Best in class |
| 99. To what extent do you believe the integration of ESG issues in emerging markets is as relevant as the integration of ESG issues in other markets? | To the same extent |
| 100. To what extent did you employ the following approaches in your 2007 active ownership strategy in emerging markets? |
| (Proxy) voting | Not Applicable |
| Direct engagement conducted privately | Not at all |
| Direct engagement conducted publicly | Not at all |
| Collaborative engagement | Not at all |
| Filing shareholder resolutions | Not at all |
| Co-filing shareholder resolutions | Not at all |
| No Answer |
| 101. To what extent have you developed a comprehensive RI/ESG engagement capability regarding business activities in emerging markets? | Planning to in 2008 |
| 102. Please list the three most often addressed RI/ESG-related issues in your shareholder engagement initiatives in emerging markets? |
| 1. | |
| 2. | |
| 3. | |
| 103. Have you sought information from companies regarding their adoption of/adherence to norms, standards, codes of conduct or international initiatives related to RI/ESG issues in emerging markets? |
| Adoption | To a large extent |
| Adherence | To a large extent |
| 104. Do you take RI/ESG considerations into account when selecting and approving emerging markets external investment managers? | To a large extent |
| 105. Do your consultants factor RI/ESG issues into their short listing of emerging markets external investment managers? | To a large extent |
| 106. Do you have evidence that you have played a role in the improved integration of RI/ESG issues by external investment managers investing in emerging markets? | To a large extent |
| 107. To what extent have you worked together with other investors to improve the effectiveness of implementing the PRI in emerging markets? | Planning to in 2008 |
| 108. Are you undertaking any additional efforts to raise awareness of RI/ESG issues in emerging markets? | Not at all |
| 109. Have you sought to determine what impact your RI/ESG issue-related efforts (voting and engagement, investment decision making, disclosure, etc.) have had on corporate behaviour or performance in emerging markets? | Not at all |
| 110. Please add any overall comments and clarifications related to the PRI in emerging markets here. | No Answer |
| 111. What is your top PRI-related goal/priority for emerging markets in 2008? | No Answer |
| Closing Comments |
| 112. Why did your organisation join the PRI? | It corresponds to our objective to give importance to sustainable development, with the certitude that alone we can't achieve much. |
| 113. Please describe the benefits you have enjoyed as a result of signing the PRI: | difficult to answer |
| 114. To what extent do you believe the PRI has succeeded in changing investor behaviour and/or raising awareness or capacity on RI/ESG issues? Do you have any examples you could share? | To a small but significant extent |
| 115. What are the top three activities the PRI Secretariat could undertake to enhance and encourage further implementation of the PRI by current and prospective signatories? |
| 1. | Clearinghouse |
| 2. | Evaluate achievements |
| 3. | Analyse relations between principles and performance |
| 116. What are your top three PRI-related goals/priorities for 2008? |
| 1. | improve implementation of principle 5 |
| 2. | improve implementation of principle 4 |
| 3. | analysing further emerging markets |
| 117. Please rank the six principles from most difficult to implement to least difficult to implement: |
Most difficult
1 | Principle 5 |
| 2 | Principle 4 |
| 3 | Principle 3 |
| 4 | Principle 6 |
| 5 | Principle 2 |
Least difficult
6 | Principle 1 |