This report shows public data only. Is this your organisation? If so, login here to view your full report.

Stichting Pensioenfonds ING

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.

PFI primary goal is to pay pensions to its participants in accordance to the regulations of the scheme. Since 2014 no accrual of pension entitlements and no payment of contributions. PFI doesn't take more risk than needed in fulfilling its obligations.

1 Risk management is key
2 The Fund is 'in control' through a structured investment process
3 Investment policy starts from the pension objective
4 Socially responsible investing is an integral part of the policy
5 The long-term nature of the obligations determines the long-term investment horizon.
6 Diversification reduces the risk for a similar expected return
7 Passive investment, unless ….
8 Risk premiums fluctuate in the short term, but tend towards averages in return to the long term mean.
9 Costs are explicitly included in portfolio construction.

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]

Starting point for ING's ESG policy is the survey, in which the participants are questioned about their view on the various ESG themes. The results of the questionnaire showed that the participants consider ESG themes as important, but the Fund does not need to be a frontrunner in this respect. The participants do believe that the Fund's ESG policy should at least comply with international standards, as issued by the United Nations and the OECD guidelines. The most important ESG themes that the participants mentioned, and that have been taken over by the Board of Trustees, are the following:

I.               Human rights
II.           Anti-corruption
III.          Environment & Climate
IV.          Public health
V.           Labour rights

The above themes are linked to the "Global compact" principles of the United Nations, see table below.

  PFI V priorities
I.   Human Rights
1. Businesses should support and respect the protection of internationally proclaimed human rights; and
2. make sure that they are not complicit in human rights abuses.
II.   Anti-Corruption
3. Businesses should work against corruption in all its forms, including extortion and bribery.
III.   Environment
4. Businesses should support a precautionary approach to environmental challenges;
5. undertake initiatives to promote greater environmental responsibility; and
6. encourage the development and diffusion of environmentally friendly technologies.
IV.   Health
Businesses should support a precautionary approach to the public health effects of their products.
V.   Labor
7. Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
8. the elimination of all forms of forced and compulsory labour;
9. the effective abolition of child labour; and
10. the elimination of discrimination in respect of employment and occupation.

The above themes, the UNPRI principles and the minimum requirement to comply with current legislation and regulations are the basis on which the ESG instruments are based. The Fund's current ESG policy focuses on three instruments, namely.

·         Engagement 
·         Voting policy
·         Exclusion policy

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 Applicable)


SG 02. Publicly available RI policy or guidance documents

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

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Additional information [Optional].


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.

Code of Conduct - https://www.pensioenfondsing.nl/media/5622/gedragscode.pdf 

"Artikel 19
Belangenconflicten: De Verbonden Persoon draagt er zorg voor iedere situatie die aanleiding geeft of zou kunnen geven tot een belangenconflict, te vermijden. De Verbonden Persoon is verplicht elk (potentieel) belangenconflict direct te melden aan de (Externe) Compliance Officer. Met betrekking tot de volgende onderwerpen, waarbij sprake kan zijn van (de schijn van) een potentieel belangenconflict, gelden specifieke regels: a) relatiegeschenken; b) uitnodigingen; c) nevenfuncties; d) zakelijke belangen; e) bedrijfsmiddelen; f) zakelijke relaties.
Alle Verbonden Personen dienen te voorkomen dat hun privébelangen, anders dan als verzekerde, in conflict komen c.q. verstrengeld raken met de belangen van het Fonds, dan wel dat de schijn hiervan wordt opgewekt."
 

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


Top