Strengthening Our investment Escalation Message from Key highlights our stewardship Our progress Our purpose approach and Our approach and exercising Our aspirations for 7 Pension Protection Fund Responsible Investment Report 2022/23 our Chair of the year commitment at a glance and governance incorporating ESG to engagement shareholder rights the coming year Appendices Our purpose and governance What we stand for How our purpose and values feed Our purpose is to deliver the best 昀椀nancial results for into e昀昀ective stewardship Our approach to Responsible Investment (RI) our members. We believe this goes hand in hand with and stewardship responsible investing for two reasons: Our organisation’s values At the PPF, we lead by example and demonstrate our values Our RI Framework puts our core beliefs into practice: from the top down. We believe that establishing the right 1. 2. values, culture and accountability is key to delivering the best outcomes for our stakeholders. RI Framework Good corporate Exercising our Our ‘ICARE’ values (see overleaf) de昀椀ne how we conduct governance and ownership rights is not business across the organisation. They are integrated Strategic management of only a key part of being into every employee’s performance development review Governance & direction Risk Metrics & ESG risks is a strong a responsible owner but and annual goals, as well as at a directorate and overall accountability & policy management transparency indicator of how an also helps safeguard organisation level. organisation manages sustainable returns in risk as a whole. the long term. Priorities Taking action Following the launch of the PPF’s Sustainability Strategy, Claire Curtin, Head of ESG & Sustainability, Climate change Stewardship Reporting Our RI Framework puts these core beliefs into practice. has taken on the role of overseeing implementation of sustainability internally. This combined role facilitates Read about our responsible investment (RI) strategy and a cohesive approach to sustainability stewardship our RI Framework to learn more about our beliefs, aims and internally within the PPF and externally through Climate & sustainability Engaging with fund Internal ESG Dashboards approach to being a responsible investor. our investment strategy. It has already helped us to policies & strategies managers improve consistency in our expectations of portfolio companies and our suppliers. Engaging with Investment Committee & Climate stewardship issuers Board reporting Climate risk assessments & Voting of shares External RI reporting sustainability reporting Good corporate governance and management of ESG risks is a strong Climate Collaborative opportunities engagement & External Climate reporting indicator of how an organisation public policy manages risk as a whole.