Engagement Policy | Lord Abbett `
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Engagement Policy

Background

Authentic integration of ESG considerations into our investment processes requires active ownership. Active ownership means engaging directly with company management with the intent of understanding, influencing, or exchanging perspectives on ESG issues facing a portfolio holding, and including ESG considerations when determining how proxies should be voted. Our Investment Stewardship Council (ISC) will provide governance over all forms of ESG engagement.

Our Approach

Our approach to ESG engagement reflects the principle that engagement can take a variety of forms, with varying levels of intensity. We believe an effective engagement policy must include an escalation process comprised of a series of steps of progressive levels of engagement intensity. At Lord Abbett, the escalation process for ESG engagement activities within the ordinary course of fundamental research and portfolio management will include the following steps:

  • STEP 1: All analysts and portfolio managers will naturally consider meaningful ESG factors in their assessment of risk and return, and will engage with company management on these issues during the ordinary course of due diligence.
  • STEP 2: When a security has been identified as having a severe ESG risk or significant ESG controversy, research analysts and portfolio managers have joint responsibility for escalating to the ISC to discuss their proposed approach to engagement. This should occur in advance of purchase.
  • STEP 3: Where appropriate, the ISC may recommend intensifying engagement, including collaborative engagement through organizations like PRI, CA100+, Ceres, or others.
  • STEP 4: In extreme circumstances, where there is extreme risk to the firm, the ISC will have the obligation to restrict purchases or force divestitures.

Engagement in proxy voting will include a similar escalation process as described in our Proxy Policy.

Appendix 2

 

Corporate Governance Guidelines
Lord Abbett believes that companies with strong corporate governance practices are better positioned for long-term success.

Appendix 2

Corporate Governance Guidelines
Lord Abbett believes that companies with strong corporate governance practices are better positioned for long-term success.

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