2021 ESG Annual Report

Transition Pathway Initiative (TPI) Neuberger Berman is a Research Funding Partner of the TPI, which is a global asset owner-led initiative that assesses companies’ preparedness for the transition to a low carbon economy by encouraging companies to set practical targets and increase disclosure. Our support has helped the TPI team to broaden coverage and continue making their important analysis a public good. We have incorporated this analysis into some of our proprietary ESG ratings, and will continue to leverage this tool in our investment processes. UN Global Compact (UNGC) Neuberger Berman is a signatory of the UN Global Compact and is committed to aligning our operations with universal principles on human rights, labor, environment and anti-corruption, and to taking actions that advance societal goals. In 2021, Neuberger Berman submitted its third Communication on Progress (COP), demonstrating the firm’s commitment to implement the Ten Principles, and qualified for the Global Compact Advanced Level. 1 Asian Corporate Governance Association (ACGA) Our Director of Japan Investment Stewardship assumed the role of the Chair of the Japan Working Group (JWG) of the Asian Corporate Governance Association (ACGA) in 2021. The Group is comprised of approximately 112 asset owners and managers with a combined assets under management of US$40 trillion and its mission is to support the improvement of corporate governance across companies in Japan. The Chair manages the Group’s mid-term strategy, which includes collaborative engagements with key institutions in Japan’s investment chain, including companies, and in the future, with regulators and industry associations. The Chair will also be supporting ACGA’s thought leadership initiatives, such as publishing open letters and white papers on key issues related to Japan’s corporate governance.

Institutional Investors Group on Climate Change (IIGCC) Neuberger Berman is a member of the Institutional Investors Group on Climate Change (IIGCC), a leading global investor membership body and the largest in Europe focusing specifically on climate change. Through our IIGCC membership we support and help shape the public policies, corporate action and investment practice required to address climate risks. In 2021, we hosted a virtual GP webinar with the Institutional Investors Group on Climate Change (IIGCC), who provided a preview of a forthcoming paper on net-zero alignment in the private equity context. Oxford University Initiative on Rethinking Performance (ORP) Neuberger Berman is a partner of the Oxford University Initiative on Rethinking Performance (ORP). Increasingly, businesses recognize that they need to understand and demonstrate how they create value beyond financials. The management of systemic risks related to issues such as climate change and global inequality is as pertinent to enhancing stakeholder well-being as it is to the capture of business opportunities and the creation of shareholder value. ORP works with members like us to understand the issues companies are trying to resolve, and to identify ways in which corporate purpose can be measured and the costs of delivering products and avoiding problems can be tracked.

1 Global Compact Active COPs meet minimum requirements, including a statement by the Chief Executive expressing continued support for the UNGC and renewing the participant’s ongoing commit - ment, a description of practical actions the company has taken or plans to take to implement the Ten Principles of the UN Global Compact and a measurement of outcomes.



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