As a responsible asset manager, we require all external managers that we work with to follow high standards on ESG integration. Consequently, all such external managers are PRI signatories. ESG aspects form an integral part of the conversations NNIP conducts with external managers. These conversations can revolve around the managers’ exclusion criteria, the thoroughness of their ESG integration approach, how ESG is incorporated into the investment process and decision-making and whether/how active ownership is conducted. Hence, we take into account whether there is engagement and how it is conducting, what the consequences of engagement might be and whether (proxy) voting is conducted and with what aims. Beyond these in-depth considerations on ESG integration, screening and active ownership of external managers, NNIP also expects them to adhere to high governance standards.