An analysis of environmental, social and corporate governance (ESG) factors forms an inherent part of our investment process. Over many decades of investing, we recognise that ESG issues can have significant financial impacts on a company’s long-term value and returns to shareholders.

Our investment team meets with hundreds of company executives and board members each year to examine and evaluate the ESG issues confronting their businesses. We directly engage with management on issues we believe will erode shareholder value, particularly corporate governance policies and practices.

We consider a range of ESG issues as outlined in the table below.