Neuberger Berman

Neuberger Berman has an engagement and stewardship policy where it describes its approach on sustainability themes and impact topics with investees which includes a clear framework with success criteria and escalation points in the event that engagement with investees is unsuccessful.  The financial institution also publishes a investment stewardship report describing how the engagement policy is applied in practice including case studies describing where it has engaged successfully with investees on sustainability themes and impact topics. Additionally, the financial institution discloses a list of trade associations of which it is a member including sustainability- and non-sustainability-related organisations. 

As a member of the Net Zero Asset Managers Initiative, Neuberger Berman has set a target of net-zero financed emissions by 2050. Furthermore, as a member of Climate Action 100+, the financial institution discloses that it collectively engages with its investees on the topic of climate change. It also provides evidence that it collectively engages with companies to which it provides financial services on the topic of their nature- and biodiversity-related impacts. 

Neuberger Berman has a publicly available policy statement committing it to respect human rights. The financial institution has a policy prohibiting bribery and corruption and it specifies that it does not make political contributions. Furthermore, the financial institution discloses the proportion of women in its total direct operations workforce for each employee category. 

In terms of its approach to senior leadership accountability, while Neuberger Berman’s board of directors oversees climate-related risks, it could clarify that the end responsibility for all sustainability issues lies with this body. Furthermore, the financial institution could link the remuneration of its executive or management teams to sustainability performance criteria.  Additionally, no evidence was found that the financial institution is committed to gender equality and women’s empowerment. The asset manager has an opportunity to disclose the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps.  

Neuberger Berman has an opportunity to disclose key sectors or companies identified as priorities to engage with on climate issues, specifically on the topic of alignment with the Paris Agreement.  Additionally there is no evidence that the financial institution discloses the amount of its investment devoted to climate solutions nor that it is committed to minimising the negative impacts the financial institution has on nature and biodiversity. 

Neuberger Berman has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its investment activities. The financial institution also has an opportunity to establish a grievance mechanism accessible to all workers, external individuals and communities to raise human rights complaints and bribery and corruption concerns. Furthermore, to provide transparency on financial inclusivity, the financial institution has an opportunity to disclose the amount of investment directed towards low-income developing countries.