Liontrust Responsible Capitalism Report 2024 - Flipbook - Page 138
PROCESS BEHIND DATA COLLECTION,
COLLATION AND VALIDATION
Information for this reporting is derived from the ISS Proxy Exchange
platform based on information for meetings held in the calendar
year 01 January to 31 December 2023.
To derive the vote statistics for the year, Liontrust use the ISS
Templated Board Statistic report. The report is run over the reporting
period 1 January 2023 to 31 December 2023 under the main
Liontrust account for which below mentioned investment teams
fall into. We account for all institutional and custodian accounts
and exclude closed accounts. The data derived from this report is
included in the Responsible Capitalism Report.
Liontrust investment teams adopt the following voting policies
Investment team
Policy adopted
Sustainable Investment
Liontrust custom policy
Economic Advantage
ISS Proxy Analysis & Benchmark
Policy Voting Recommendations
Multi-Asset
ISS Proxy Analysis & Benchmark
Policy Voting Recommendations
Global Fundamental
ISS Proxy Analysis & Benchmark
Policy Voting Recommendations
Cashflow Solution
Liontrust custom policy
Global Innovation
Liontrust custom policy
Assumptions and additional points to note
The vote summary report counts unique votes separately and nonunique votes as one whereas the ballot extraction shows all ballots
even if they are voting the same way, resulting in the number of total
votes instructed to be higher than the number of voteable proposals.
There are instances where different investment teams at Liontrust
hold votable shares with a company. If these teams apply different
investment policies this can result in cases where these different
investment teams vote differently on a resolution. In these situations,
the individual unique vote for the resolution is counted once under
each of the voting outcomes. The resolution itself is counted once
as an eligible resolution.
Voting against policy
Each investment team has discretion to vote against its adopted
policy. Should it choose to do so, the fund manager is required to
provide a rationale to the Responsible Capitalism team as to why it
has chosen to “go against policy”.
138 - Responsible Capitalism Report 2023
REPORTING CRITERIA –
GREENHOUSE GAS EMISSIONS (GHG):
Liontrust Asset Management plc (Liontrust) engaged a third-party
consultant to calculate its operational Scope 1, Scope 2 and Scope
3 (purchased goods & services and business travel) emission for the
calendar year. The reported calendar year spans from 1 January
2023 to 31 December 2023.
KPMG are engaged to assure the figures for Scope 1 & 2 market and
location based only which are denoted by a throughout the report.
Methodology:
Liontrust’s GHG inventory was calculated in accordance with the
Greenhouse Gas Protocol - A Corporate Accounting and Reporting
Standard (Revised Edition) (GHG Protocol), developed by the
World Resources Institute/World Business Council for Sustainable
Development. It is an international standard that is widely regarded as
best practice for greenhouse gas (GHG) accounting and reporting. This
has guidance for the various components of an organisation’s annual
GHG inventory and is focused on the following principles: relevance,
completeness, consistency, transparency and accuracy. A third-party
consultant performs the Liontrust GHG emissions calculations.
The inventory includes all relevant Scope 1 and 2 emissions
categories, as well as a Scope 3 emissions from Purchased Goods
& Services and Business Travel.
All six greenhouse gases covered by the Kyoto Protocol –
carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O),
hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), and sulphur
hexafluoride (SF6) were included. GHG emissions are converted
and reported in as carbon dioxide equivalents (CO2e) using
standard long-term global warming potentials (GWP-100).
The relevant GHG sources that constituted the agreed operational
boundary for the reporting calendar year are:
• Scope 1: Oil-based heating for offices (Luxembourg only)
• Scope 2: Purchased electricity consumption for own use (Location
based and Market based)
• Scope 3: All relevant categories, including purchased goods &
services; capital goods; upstream transportation and distribution;
fuel-and-energy-related activities; waste; business travel (air, rail,
road and hotel stays); and employee commuting (commuting and
homeworking emissions)
The Scope 1 emissions were calculated using the Department
for Business, Energy & Industrial Strategy (BEIS) 2023 emissions
factors. Data is collected from invoices, meter readings and other
documentation provided by our leased offices landlords.