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Stichting Pensioenfonds ING

PRI reporting framework 2019

You are in Strategy and Governance » Asset class implementation not reported in other modules

Asset class implementation not reported in other modules

SG 16. ESG issues for internally managed assets not reported in framework (Not Applicable)

SG 17. ESG issues for externally managed assets not reported in framework

17.1. Describe how you address ESG issues for externally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Fixed income - SSA

Our service provider Hermes EOS adopts a similar approach to fixed income as to equities. Hermes EOS Engagement with companies is undertaken both for monitoring and influencing purposes and where relevant to address strategic issues relevant to long-term value. Hermes addresses the major themes of the environment and governance as well as social and ethical issues. Hermes EOS sets objectives to be achieved ;then monitored by reference to a system of milestones. Engagements for monitoring purposes always take the form of a two-way dialogue with the company and do not solely involve letter writing activity, though letters may be used to follow up calls or meetings or to confirm our understanding of the facts. … they adhere to best practice. Similarly, companies will be monitored where there are issues that are likely not to respond to engagement.

Private equity

PFI's investments in PE are frozen and will be naturally outphased as distributions grow.
In monitoring our external manager is also reporting on ESG. There is however no stick when ESG performance is lacking.

17.2. Additional information.