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ACTIAM

PRI reporting framework 2017

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Organisational Overview
Basic Information [OO 01 - 09] Gateway asset class implementation indicators [OO 10 - 12]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Implementation not in other modules [SG 12 - 16] Innovation [SG 17]
Indirect – Manager Selection, Appointment and Monitoring
Overview [SAM 01 - 02] Listed Equity and Fixed Income Strategies [SAM 03 - 04] Selection [SAM 05 - 06] Appointment [SAM 07.1 - 07.2-5] Monitoring [SAM 08 - 10] Outputs and outcomes [SAM 11 - 12] Communication [SAM 13]
Direct - Listed Equity Incorporation
Overview [LEI 01 - 02] ESG incorporation in actively managed listed equities [LEI 03 - 12] Implementation processes [LEI 03 - 12] (A) Implementation: Screening [LEI 06 - 08] (B) Implementation: Thematic [LEI 09] (C) Implementation: Integration of ESG issues [LEI 10 - 12] ESG incorporation in passively managed listed equities [LEI 13] Outputs and outcomes [LEI 14 - 16] Communication [LEI 17]
Direct - Listed Equity Active Ownership
Engagement [LEA 01 - 16] Overview [LEA 01 - 02] Process [LEA 03 - 10] Process for engagements run internally [LEA 03 - 04] Process for engagements conducted via collaborations [LEA 05 - 06] Process for engagements conducted with/on your behalf by service providers [LEA 07 - 08] General processes for all three groups of engagers [LEA 09 - 10] Outputs and outcomes [LEA 11 - 15] Communication [LEA 16] (Proxy) voting and shareholder resolutions [LEA 17 - 27] Overview [LEA 17] Process [LEA 18 - 22] Outputs and outcomes [LEA 23 - 26] Communication [LEA 27]
Direct - Fixed Income
Overview [FI 01 - 03] ESG incorporation in actively managed fixed income [FI 04 - 16] Implementation processes [FI 04 - 06] (A) Implementation: Screening [FI 07 - 10] (B) Implementation: Thematic [FI 11 - 13] (C) Implementation: Integration [FI 14 - 16] ESG incorporation in passively managed fixed income [FI 17] Fixed income - Engagement [FI 18 - 20] Outputs and outcomes [FI 21 - 22] Communication [FI 23]
Direct - Inclusive Finance
Context [IFD 01 - 06] PIIF Principle 1: Range of services [IFD 07 - 10] PIIF Principle 2: Client protection [IFD 11 - 13] PIIF Principle 3: Fair treatment [IFD 14 - 17] PIIF Principle 4: Responsible investment [IFD 18 - 24] PIIF Principle 5: Transparency [IFD 25 - 27] PIIF Principle 6: Balanced returns [IFD 28 - 31] PIIF Principle 7: Standards [IFD 32 - 34]
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You are in Direct - Inclusive Finance » PIIF Principle 4: Responsible investment

PIIF Principle 4: Responsible investment

IFD 18. Tools for social performance reporting

Possible action:

Negotiate terms and conditions that are transparent, fair and reasonable, including fair break-up clauses.

18.1. Indicate if you use the following tools for social performance reporting:

Externally developed tools

During due diligence.

For monitoring and reporting purposes.

Describe the approaches used and frequency of use.

The social indicators developed by MIX Market, IRIS and the Universal Performance Standards for Social Performance Management are integrated in the non-financial scorecard which is used during due diligence and monitored on annual basis. This information is used to report non-financial performance our funds to our investors.

 
 

In-house tools based on externally developed tools

During due diligence.

For monitoring and reporting purposes.

Describe the approaches used and frequency of use.

We developed a non-financial scorecard (based on industry standards, and in close cooperation with Oikocredit). This tool is used as assessment tool during due diligence, annual monitoring and the information is used for reporting purposes to our investors.

Tools developed solely in-house

During due diligence.

For monitoring and reporting purposes.

Describe the approaches used and frequency of use.

The content of the non-financial scorecard is based on externally developed data and tools, but the methodology is developed in-house. Currently, we are embedding the UN SDGs in our frameworks.

18.2. Additional information. [Optional]

IFD 19. Retail institutions have independent financial/social rating and/or social audit

19.1. Indicate if you require the retail institutions in which you invest to have an independent financial rating.

19.2. Indicate if you require the retail institutions in which you invest to have an independent social rating.

19.3. Indicate if you require the retail institutions in which you invest to have an independent social audit.

19.4. Additional information. [Optional]

IFD 20. Due diligence on and monitoring and reporting of corporate governance among investees

Possible action:

Assist in developing appropriate references for corporate governance issues.

20.1. In relation to your due diligence on and monitoring and reporting of corporate governance among investees, indicate if you assess:

Compensation of the Board of Directors and Executive Directors (i.e. its transparency, the use of benchmarking)

Pre-investment

Post-investment

Describe what you look at and, if post-investment, the frequency of assessment. [Optional]

We analyse the fairness of the compensation of the boards and the management compared to other employees in the company and to general standards of fairness. Also the absolute level of compensation is taken into account during the investment selection process and during the monitoring process.

    

Composition of the Board (i.e. breadth and depth of experience, effective client representation, diversity)

Pre-investment

Post-investment

Describe what you look at and, if post-investment, the frequency of assessment. [Optional]

Assessed during annual monitoring (visits).

    

Whether the Board receives social performance management-related information from the management team that is analysed and contributes to Board decision making.

Pre-investment

Post-investment

Describe what you look at and, if post-investment, the frequency of assessment. [Optional]

Assessed during annual monitoring (visits).

20.2. Additional information. [Optional]

IFD 21. Training or assistance for investees on corporate governance

Possible action:

Assist in developing appropriate references for corporate governance issues.

21.1. Indicate if you provide training or assistance for your investees on corporate governance.

21.2. Additional information.

For the ACTIAM Institutional Microfinance Funds and the ACTIAM-FMO SME Finance Fund there is no specific budget for training available, but our investment managers assist MFIs and SME Banks on corporate governance issues through ongoing conversations with the management of the investees.

IFD 22. Percentage of investees where board seats are held (Not Applicable)

IFD 23. Procedure to integrate environmental issues in investment decision processes

Possible action:

Assist in developing appropriate references for environmental issues.

23.1. Indicate if you have a procedure to integrate the consideration of environmental issues in your investment decision processes.

23.2. Describe how your procedure to integrate the consideration of environmental issues in your investment decisions processes affect decisions pre-investment. [Optional]

During the due diligence process the MFI is assessed on compliance with environmental regulation. In addition, the environmental policies of the MFI are assessed. If there is evidence of the MFI breaching environmental regulations, this can impact the investment approval process. In our SME proposition, we address the environmental (and social) risks involved.

23.3. Describe how your procedure to integrate the consideration of environmental issues in your investment decisions processes affect decisions post- investment. [Optional]

Compliance with environmental regulation and policies is included in the non-financial scorecard, which will be assessed on an annual basis. If breaches are uncovered this can impact refinancing decisions.

23.4. Indicate if you request your investees to comply with an environmental exclusion list.

23.5. Additional information. [Optional]

IFD 24. Anti-corruption and whistle-blowing policies

Possible action:

Promote implementation of anti-corruption practices.

24.1. Indicate if you have anti-corruption policies.

24.2. Indicate if you have internal whistle-blowing policies.

24.3. Indicate if you review whether your investees have anti-corruption policies as part of your due diligence process.

24.4. Indicate if you review whether your investees have internal whistle-blowing policies as part of your due diligence process.

24.5. Additional information.

The MFI loan agreements state the following: "The Borrower will at all times institute, maintain and comply with internal procedures and controls satisfactory to the Lender for the purpose of preventing the Borrower from being used for money laundering, the financing of terrorist activity, fraud, or other corrupt or illegal purposes or practices". In the due diligence process, the company's policies, looking for anti-corruption and whistle-blowing policies are reviewed as a standard procedure.

Regarding our SME finance fund we apply a similar policy stance.
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