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PRI reporting framework 2019

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

Bâtirente is convinced that the long-term success of investments depends on taking ESG factors and sustainable development criteria into account. In addition, the Investment and Extra-Financial Risk Committee takes into account the sustainable development and socially responsible investment aspects put forward by the asset management companies in the development of their portfolios.

Bâtirente's socio-economic commitment adds to the diversity of the investment approach, by providing a different perspective on the performance of financial markets and the future prospects of the economy and companies. Bâtirente is convinced that investments in companies must demonstrate a certain momentum towards sustainable development and other long-term social objectives.

The Bâtirente Guidelines serve as a guide for managers in carrying out their respective mandates. They therefore cover the following three categories of activities:

  1. Integration of ESG risks into portfolio construction processes;
  2. Shareholder engagement;
  3. Exercise of voting rights.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

Bâtirente encourages companies to go beyond the minimum required by law and adopt best practices in ESG risk management. The adoption of best practices is important given the often inadequate or insufficient regulatory framework in some parts of the world. In addition, companies that are willing and able to adopt such practices and innovate both technologically and managerially can protect or improve their reputation and gain a competitive advantage. New societal and market expectations of the business sector should guide best practices. However, these are determined by normative rather than political or legal processes. In order to determine what constitutes best practice, our investment policy encourages managers to first rely on their own analysis of companies to identify those whose strategies, policies and practices stand out. This policy also considers the many principles, standards, guidelines, codes of conduct and certifications that aim to guide corporate environmental and social practices. These voluntary mechanisms are an important source for developing and setting best practices. Bâtirente gives greater credibility to standards that meet the following criteria:

  • Result from a multi-stakeholder and transparent consensus (industry, civil society, workers, investors, governments, scientific and academic community...);
  • Respect or exceed the spirit of international law;
  • Are subject to transparent and inclusive stakeholder governance;
  • Include public accountability and independent audit requirements for the companies that adopt them;
  • Are subject to incentives to ensure compliance (penalties and rewards);
  • Benefit from public recognition to enhance the company's corporate reputation with its stakeholders, particularly its customers.

01.6. Additional information [Optional].

I confirm I have read and understood the Accountability tab for SG 01 I confirm I have read and understood the Accountability tab for SG 01

SG 01 CC. Climate risk (Not Completed)

SG 02. Publicly available RI policy or guidance documents (Not Completed)

SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Our global investment policy states that all investment decisions are entrusted to third party asset managers who are contractually bound to divulge conflicts of interest, that asset valuations are delegated to our fund administrator and that our proxy voting is done through a third party provider according to structured guidelines assures a fairly reliable structure in terms of conflicts of interest management.

NEW feature: On top of that, in 2017, our Board adopted a Code of Ethics that binds all directors and staff. The Code puts in place processes aimed at preventing such conflicts through transparency measures. For example, any staff is subject to mandatory declaration of all gift, gratuity or any likewise offer. This is done in order to prevent undue influence over employees who for instance, may be involved in the asset manager selection, appointment and monitoring processes. 


03.3. Additional information. [Optional]

SG 04. Identifying incidents occurring within portfolios

04.1. Indicate if your organisation has a process for identifying and managing incidents that occur within portfolio companies.

04.2. Describe your process on managing incidents

Æquo our engagement services provider monitors the companies in our portfolios. Significant controversies and incidents at companies trigger an internal discussion at our provider as to whether they should investigate further on our behalf and engage directly with the company on that issue. Any action taken by Æquo will be reported back to our team via the quarterly reporting process. For example, in a few cases a new shareholder engagement has been undertaken with target companies on the basis of such informations. In other cases it has led to adding a new issue into an already ongoing dialogue with the company.