United Nations Principles for Responsible Investment ("UNPRI")
Gramercy is a Signatory to the United Nations Principles for Responsible Investment. The United Nations-supported Principles for Responsible Investment (PRI) Initiative is an international network of investors working together to put the six Principles for Responsible Investment into practice. Its goal is to understand the implications of sustainability for investors and support signatories to incorporate these issues into their investment decision making and ownership practices. In implementing the Principles, signatories contribute to the development of a more sustainable global financial system. More information can be found here: www.unpri.org.
ESG In Practice
Gramercy is committed to incorporating ESG policies and procedures into our investment processes under the guidelines established by the UNPRI. We recognize and willingly accept the additional responsibilities that must be assumed by our investment and our business support teams as we believe the incorporation of ESG practices benefits not only our clients and our firm, but the global investment environment as a whole. In order to ensure the sound application of our policies and the accurate reporting of our efforts to the UNPRI, Gramercy has appointed an ESG Officer.
The application of ESG to our investment process takes a different approach for corporate and sovereign securities. With corporate credits, we make a qualitative evaluation of an issuers environmental, social and corporate governance policies and procedures. This qualitative evaluation is then used to create an ESG score which dictates whether or not the credit as passed our screen. Sovereigns receive a score derived from our proprietary process that uses a variety of publicly available statistics. The lowest ranked sovereigns are considered to be undesirable for investment based upon ESG factors.
Gramercy has created an ESG Committee comprised of our CIO, lead portfolio managers, the heads of corporate and sovereign research and our ESG Officer. The committee meets on an ad hoc basis to discuss any new initiatives regarding our process and any credits that may warrant special consideration for investment.