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ACTIAM

PRI reporting framework 2019

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Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

The ACTIAM ESG Committee meets at least once every quarter. In this meeting, besides reviewing new proposed policies, the engagement progress, an overview of the investment universe screening, investor statements and official letters are among the standard agenda items of these meetings.
In case necessary, a fast track procedure is developed for exceptional cases and/or policies to be approved for which direct action is required. For example, the approval/rejection of ESG Research advice in structured projects with tight deadlines. 


SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          Execution of marketing and communication plan, to which the ESG department is a large contributor.
        

Progress achieved

To improve communication about ESG within the organisation, ACTIAM:

  • Improved social media use (most content is about ESG)
  • Continued ESG communication on the intranet (incl. mother company)
  • Presented about ESG in quarterly employee meetings
  • Communicated about joint initiatives, such as PCAF
  • Communicated about investor statements 
  • Write though leadership papers
  • Held combined ESG and Portfolio Management meetings about ESG

Key performance indicator

          Engagement progress is one of the key KPIs for the ESG team: number of milestones reached per year
        

Progress achieved

The engagement progress is measured in milestones and reported on in the quarterly ESG reports as well as the annual report. The progress and current status of the engagements is discussed in the quarterly ACTIAM ESG Committee meetings. We have developed a database for tracking engagements and progress and are working on the development of an internal data base in order to connect engagement with financial information, such as stock performance. Since 2016, we work with an external provider to conduct a share of the engagements, in order to increase the amount of engagements conducted and increase the impact of the engagements. 

Key performance indicator

          ESG integration has been a KPI over the last years and is applicable for both ESG team and Portfolio Management: minimum ESG Score portfolio
        

Progress achieved

ESG scores were implemented in ACTIAM's systems and, where applicable, mandates with clients were adjusted. Some portfolios need to achieve an ESG score which is at least higher than the ESG score of the benchmark. Furthermore, for some strategies, a minimum ESG Score per company is required in order to be investable. 

          Maintain and improve communication of ESG activities outside the organisation
        

Key performance indicator

          As part of the execution of the marketing communication plan: minimum number of external performances
        

Progress achieved

In 2018, ACTIAM and the ESG team specific, spoke at several (public) conferences/seminars regarding responsible investment, impact investing, green bonds and other ESG topics. ACTIAM has published and was mentioned in several articles and columns. ESG activities were actively communicated on social media, our website and our intranet. 

other description (2)

          ACTIAM as a responsible investment leader for its clients.
        

Key performance indicator

          Zwitserleven and Reaal are marked in the top in the VBDO Benchmark for insurers.
        

Progress achieved

After scores to get to the first and third place 2017, the scores for 2018 led to again to spots in the top of the benchmark.

other description (3)

          Impact measurement and policy setting
        

Key performance indicator

          Improved impact measurement and target setting of investments; development of new responsible investment policies where applicable.
        

Progress achieved

  • Carbon footprint of investments measured
  • Targets for carbon reduction formulated
  • Water footprint of investments measured
  • Targets for water reduction formulated
  • Goal for theme land defined
  • Development of new RI policies

Financial performance of investments

Key performance indicator

          Performance of several internally managed active funds and active equity fund is a standard KPI for the ESG and portfolio management team.
        

Progress achieved

2018 ESG performance was -8,74%, and the benchmark performance -10,57%.  

ESG characteristics of investments

Key performance indicator

          Analyst part of the ESG score
        

Progress achieved

All companies in the universe are given an ESG score. This is including an analyst score. 

Key performance indicator

          For specific active funds (equity and FI), the ESG score of the portfolio needs to be as high as possible, at least higher than benchmark.
        

Progress achieved

The ESG Score of the portfolio is measured against the benchmark

Key performance indicator

          -25% of carbon footprint in 2025 and -40% in 2040 (compared to 2010).
        

Progress achieved

We have measured the carbon footprint of all investment funds. In 2016, we achieved a 7% reduction of intensity compared to 2010 for the European active equity portfolio. In our Q4 2017 and Q4 2018 reports, we have published an overview of the absolute emissions of all investment funds and relevant benchmarks. We also have calculated the current carbon intensity of all investment funds. Since last year, we also report the historical track our carbon intensity compared to 2010 for all our investments in order to see whether we are in line with our goals. In 2018, we have achieved a reduction of 19% versus 2010. 

Other description (1)

          ESG Target on water
        

Key performance indicator

          Water-neutral in 2030
        

Progress achieved

A water-neutral portfolio means that we aim for reduced water use in areas where water is scarce and for better access to water and better water quality. Circular water solutions and improved infrastructure offer investment opportunities. ACTIAM invests in, for example, green bonds issued by banks. They finance municipalities that want to improve the water recycling and wastewater management facilities. There are many challenges before these goals can be realised, but by contributing to better data quality and collaborations with other parties, we will be achieving this goal.

Other description (2)

          ESG target on land
        

Key performance indicator

          No more deforestation by 2030
        

Progress achieved

Inappropriate land use due to deforestation can increase the amount of CO2 and lead to a reduction in income and available food supplies. This is why sustainable agricultural practices offer investment opportunities.

Other description (3)

          Planetary boundaries
        

Key performance indicator

          Align investment to the theory that humanity needs to operate within nine essential ecological boundaries.
        

Progress achieved

ACTIAM translates the planetary boundaries into parameters for an investment portfolio or into parameters on company level.

Other activities

Key performance indicator

          Partnerships on all three focus themes (climate, water, land)
        

Progress achieved

Climate:

  • Platform Carbon Accounting Financials
  • Climate working group on Dutch Central Bank's platform
  • Collaborative initiatives with other investors and through PRI

Water:

  • CERES investor water hub
  • Steering Committee PRI Water risk
  • Collaborative initiatives with other investors and through PRI

Land:

  • Partnership FSC
  • Community of Practice Financial Institutions and Natural Capital (CoP Finc)
  • European Community of Practice Finance @ Biodiversity
  • Collaborative initiatives with other investors and through PRI

Other:

  • Blockchain Coalition for Social Impact
  • DNB Platform voor Duurzaam Financiering (Coalition from Dutch Central Bank on Sustainably Finance)

Key performance indicator

          Maintain and improve communication through quarterly ESG reports and communication to clients.
        

Progress achieved

  • Maintain communication to clients about RI cases (directly and support in communication for clients' clients).
  • Further developed using carbon footprint of funds
  • Further developed using water footprint of funds
  • Develop methodology on biodiversity
  • Added new insights into portfolio, such as amount of companies with climate policies vs. the benchmark
  • Added insight into companies with highest and lowest ESG scores
  • Actively used website and social media for ESG examples

06.2. Additional information.


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