Engagement Case Studies

We engage with businesses in our portfolio in order to understand them better and to encourage a more progressive approach to environmental, social and governance (ESG) issues. Engagement is undertaken directly by members of WHEB’s investment team and any new insights or information is fed directly back into the investment process.

We report on our engagement activity over the course of the year as well as on how successful we believe that we have been . In 2018, we engaged with 41 individual companies representing 71% of the companies held in the investment strategy at the year end. In many cases we engage businesses on more than one issue in the course of the year. In total there were 112 issues that we engaged portfolio companies covering corporate governance issues (74 separate engagements), ESG disclosure (27) as well as specific social (6) and environmental (5) issues.

Click on a segment in the pie-chart below to see relevant engagement case studies.

Governance Case Studies:

Johnson Controls
MSA Safety
Danaher

ESG Disclosure Case Studies:

Westinghouse (WABTEC)
Acuity Brands

Social Case Studies:

Smurfit Kappa

Environmental Case Studies

Norma Group
Royal DSM

We also capture information on how successful we believe we have been with our engagement. A ‘successful’ engagement is one where the company agrees to amend its approach to the issue in question. A ‘partially successful’ engagement is one where the company acknowledges our concern and agrees to consider it but does not commit to change anything. An ‘unsuccessful’ engagement is one where the company either does not respond to us or refuses to amend its practices.

Examples of WHEB engagement during 2018

Examples of WHEB engagement during 2017