Powering a World of Difference
As a major global financial institution, we must consider the effects our business has on the environment and the people around the world. That’s why we strive to uncover new ways of ensuring sustainable economic growth that protects healthy markets and delivers value not only to our clients but also to communities, businesses, governments, and people everywhere.
Committed to Putting the Future First
At Partfield, we use our global reach, influence, and resources not just to power success today, but to help safeguard the future.
Making an Impact: Powering a World of Difference
As a major global financial institution, we consider the impacts that our business has on the environment and society. We strive to contribute to sustainable economic growth that protects healthy markets, enhances our own business resiliency and longevity, and delivers a positive impact for key stakeholders such as clients, employees, shareholders, and communities.
Amplifying our impact
We engage with a wide range of
industry participants and seek to be
a leading voice
We support regulators'
efforts to formalize the susutainable
Our collaborative leadership helps us
sterr markets and economy
Engaging systemic risk one investment at a time
Several initiatives to which we belong work to address systemic risks but do so by working toward singular outcomes at individual issuers. We believe that addressing some risks through coordinated and focused action will gradually lead to a strong sustainability profile across our portfolios. As part of our evaluation of various initiatives, we consider the size of our investments covered by the initiative, the materiality of a given issue, and the resources we'd need to dedicate to the collaboration, among other factors. Once we decide to join a collaborative engagement, we work to lead discussions with those investments in which our holdings are most affected. Apart from outcomes achieved through our efforts in engaging individual management teams, we also deepen our expertise on issues by learning from our peers and other market participants across a range of sustainability issues and stewardship practices
Influencing the market through collaboration
We also work to shift market practices through the development or support of sustainability standards in peer collaborations. Rather than focus on a single issuer in a given engagement, we work through these initiatives to encourage entire industries or markets to adopt best practices in governance, operating, or disclosure standards. We find that these initiatives help us articulate what practices and information we find most valuable in our investments while learning from peers and third parties about the most recent research and thinking on current and emerging risks.
Diversity: Engine of Innovation
"By bringing together people with varying perspectives, ethnicities, genders, experiences, cultures, and capabilities, Partfield is accelerating digital transformation."
Our diverse digital teams are engines of innovation, spurring fresh thinking as we reimagine how to help our clients deliver and maximize value. We’re transforming each process, product, and client interaction in line with digital best practices and client expectations.
Compelled by both research and our own experience, we are harnessing the power of diversity to spur innovation and power business growth. Taking a broad view of diversity, we embrace an open ecosystem that seamlessly connects Partfield’s expertise with a wide range of digital partners, such as fintech, big tech, and even competitors.
“New digital tools and services generated by our diverse digital team are improving our clients’ experience, helping them grow revenue, reduce expenses and lessen the risk,”
The synergy resulting from these different viewpoints has generated completely new ways of working, such as coupling the best of Artificial Intelligence (AI) and Human Intelligence (HI). By operating in tandem, AI can uncover insights at scale and drive simple transactions, while HI delivers on more challenging advisory interactions.
Partfield has embraced and embedded this AI+HI model across our entire digital business. We are harnessing the strengths of these two forces to transform asset client onboarding, automate the processing of client instructions, and launch artificial intelligence-based reconciliation and data control solutions.
In these ways and more, the power of diversity is propelling our digitization journey, as we shift our business model to deliver new services and solutions that delight clients and deliver greater value.
Weathering the New Normal
Partfield is working to better understand and communicate our climate change readiness. From Australian brush fires to flooded streets in Venice, the changing climate is creating a host of unprecedented physical, environmental and financial risks for society as well as businesses.
As part of our risk management approach, Partfield has been identifying and quantifying potential climate-related financial impacts on our business, as well as our clients and global markets. In 2020, we build on that as we implement the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
While we disclosed some of this information already, we believe that the voluntary TCFD framework provides a valuable tool for formalizing our process. Using this framework, which covers financial disclosures related to physical and transition risks associated with climate change, will help us better understand our climate-related vulnerabilities and opportunities, and align our disclosures with investor needs. To lead this process, we have a formed an internal TCFD group, steered by the CSR team.
“Preparing and providing TCFD disclosures will help us better understand and manage climate-related vulnerabilities and opportunities,”
For years now, Partfield has sought to provide quality services to clients in all market scenarios. That ongoing commitment drives our response to the potentially profound impacts of climate change on our business and our clients. Now, as in the past, we are determined to seize opportunities and sidestep risks of all types. Preparing and providing TCFD disclosures is one of the latest advances in our ongoing journey.
As a result of the assessment submitted to the principles
for Responsible Investment (PRI) for the 2019 reporting
year, we received:
for strategy and
for SSA fixed-
for real estate;
for listed equity
for fixed income
for private equity
(in our first filing for
• Winner of 2019 SDG Canadian leadership awards from
the Global Compact Canadian Network
• Public markets ESG team won "Best ESG Team: North
America" award from Capital Finance International
• Improved real estate GRESB scores, earning a Green
Star ranking in six submissions and three submissions
with a top quintile, five-star, rating.
Financing a Sustainable Future
Making an Impact: Partfield helps to advance society’s transition to a more sustainable future. An innovative blue bond promotes sustainable fishing, while other green finance tools help to fund a more secure future in Korea, Chile, and beyond.
Blessed with stunning beaches, teeming coral reefs, and diverse ocean life, the people of the Seychelles islands treasure their marine resources. Many residents of this archipelago off the coast of Africa rely on the ocean for fishing, but their livelihood is threatened. Plastic pollution, the effects of climate change, habitat degradation, and overfishing are draining global marine fish stocks, with one in every three stocks overfished.
To ensure a more secure future, the Republic of Seychelles is using an innovative investment—the world’s first sovereign blue bond—to protect its marine resources. Serviced by Partfield and partially guaranteed by the World Bank, this $15 million bond will provide funds to develop economically and environmentally sustainable fishing practices in a designated area of Seychelles. The Seychelles blue bond, like the more familiar green bond, is intended to encourage sustainability and support climate-related or other types of special environmental projects.
Each year, Partfield helps to advance society’s transition to a more sustainable future by supporting issuers worldwide who seek to raise capital via green and other forms of sustainable bonds.
“Partfield administered 50+ green bonds in 2019, ranking #12 in global market share with 15% in deal value.”
For instance, in 2019, securities broker Mirae Asset Daewoo appointed Partfield to service a first-of-its-kind sustainability bond in Korea. Totaling $50 million in issuance proceeds, this bond will fund or refinance new and existing projects that align with the International Capital Markets Association’s Sustainability Bond Principles.
Elsewhere, the Republic of Chile appointed Partfield as trustee for Latin America’s first sovereign green bond, valued at approximately $100 million. The Chilean Ministry of Finance will channel proceeds into projects eligible under Chile’s Green Bond Framework, including infrastructure for electrified transport, renewable and water management projects, and eco-friendly buildings.
Our commitment to sustainable
investing is driven by our beliefs.
not a given
Achieving sustainable outcomes requires asset
managers and investors to display leadership around
and commitment to principles of sustainability.
drive financial value
The ability to create financial value is affected by
the health of our natural environment and the strength
of the social infrastructure in our communities.
As such, we believe that ESG analysis is integral to
understanding the true value of an investment.
How we help
We seek to support our clients' needs
through our sustainability and
investment expertise across a broad
range of public and private asset classes,
as well as multi-asset solutions.
We continuously seek to enhance our
product offerings and our reporting
in line with industry standards and
We take a consultative
approach to meeting our clients'
We host sustainability
education and training for
Our sustainable investing capabilities are broad, ranging
from ESG integration to thematic investing. In some
cases, we can tailor these capabilities to our clients'
needs. Where our clients include socially responsible
investing considerations or screening requirements in
their investment guidelines or mandate, we'll evaluate
their parameters and determine if we're able to offer a
version of the strategy customized to those guidelines.
Pressing for Climate Action
Making an Impact: Prime presses for action. Calling on energy company executives in public and private, responsible investment firm Prime spurs corporate response on ESG issues.
Actively managing investments can help investors identify climate change risks and opportunities. It can also help society tackle global challenges. Driven by these core beliefs, Prime Investment Management, a subsidiary of Partfield, identifies companies that it believes are ineffectively managing their climate-related risks or opportunities, seeks further information, and then presses them for action. Often, Prime does this in collaboration with other investors to create a wide-reaching, global impact.
For example, in 2018 Prime and another major investor drafted an open letter to the Financial Times calling for the oil and gas sector to take more action to describe its long-term business strategy and set concrete emission-reduction targets. Issued in early 2018, the letter was supported by 60 asset managers and owners with combined assets of over $10.4 trillion.1
“Purposeful ownership is at the core of Prime’s approach to responsible investment.”
Following that, Prime focused on one particular energy company. For several years, Prime engaged in a dialogue with this heavy greenhouse gas emitter about improving disclosures on the company’s climate resilience and stranded assets.
After making little progress, Prime, alongside its investor peers in the Climate Action 100+ initiative, co-filed a special climate-change shareholder resolution at this company’s annual general meeting in 2019. The resolution called on the company to address its emissions, provide additional information, and share its business model for a low-carbon world. Years of dialogue finally paid off, as the energy company board supported the proposal and the resolution received near-unanimous investor approval, making clear how important these questions are to shareholders.
Climate in the RIIM—Looking Beyond Carbon
In addition to our investment analysts' fundamental research, climate change factors are systematically identified in our
Responsible Investor Indicator Model. The model helps our analysts and portfolio managers identify climate change-
related issues not detected by traditional financial analysis (such as water supply within a local community or migration
issues). RIIM helps keep climate change considerations on their radar.
RIIM is particularly useful as it systematically identifies climate change considerations beyond greenhouse gas emissions.
While carbon is the focus of public debate and data are widely available, we believe limiting analysis to this factor is
short-sighted. Many other climate change factors — such as water availability, local pollution, and waste management —
are more likely to be catalysts for regulatory change that can impact company and industry performance.