SPF Beheer, together with the board of the pension funds, can decide to engage in active engagement with the management of a company in our portfolio in order to persuade it to improve its performance in the areas of human rights and the environment. We adopt as a guideline a realistic period within which the first results must become visible. If a business does not make sufficient improvements and/or is not willing to act, we will divest from the company and it will be placed on our exclusion list. The exclusion list is applicable to all asset classes. If the company does generate some improvements and shows its commitment, we will continue investing and monitor change going forward.
We also take part in collaborative engagement processes via Eumedion and the UN PRI.
In practice, due to our intensive SRI screening before investment, engagement targeted at SRI abuses has proofed to be redundant for the internal portfolio. There have been no companies with abuses of our policies in our portfolio during the recent years. We do, however, conduct regular dialogue with all companies to stimulate them on their way forward.