24 Pension Protection Fund Responsible Investment Report 2021/22 OUR APPROACH TO ENGAGEMENT CONTINUED Engaging through our stewardship Engagement themes: EOS’s stewardship process to achieve long-term sustainable returns on investment services provider As explained above, we use an external stewardship services Governance foundation Governance processes provider, EOS, to engage and vote across our segregated Equity mandates plus also Public UK Credit and Cash assets. Investor protection Board e昀昀ectiveness Purpose, strategy Environmental outcomes Sustainable Our previous RI Reports and our Stewardship Policy detail and rights and ethical culture and policies Climate change action wealth creation how we work with EOS, its four-step engagement milestone Risk management process to drive change at companies and the full list of Natural resource stewardship themes considered. Executive remuneration Circular economy and zero pollution Latest activity and themes Corporate reporting EOS focuses its stewardship activities on the issues that it believes have greatest potential to deliver long-term sustainable wealth creation for investors and positive Social outcomes environmental and societal outcomes. Currently it is Wider societal impacts focused on six outcomes: environmentally, these are climate change action, natural resource stewardship, and Human capital circular economy & zero pollution. Societally, its focus is on wider societal impacts, human capital, and human & Human and labour rights labour rights. See the graphic to the right for more detail. Summary of the EOS engagement milestone process EOS focuses its stewardship 4. activities on the issues that it believes have greatest potential 3. The company implements a strategy to deliver long-term sustainable The company develops or measures to address wealth creation for investors and 2. a credible strategy to the concern The company achieve the objective, positive environmental and 1. acknowledges the or stretching targets societal outcomes. Our concern is raised issue as a serious are set to address with the company at investor concern, the concern the appropriate level worthy of a response Progress