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SPOV (Delisted)

PRI reporting framework 2019

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ESG issues in asset allocation

SG 13. ESG issues in strategic asset allocation

13.1. Indicate whether the organisation undertakes scenario analysis and/or modelling and provide a description of the scenario analysis (by asset class, sector, strategic asset allocation, etc.).

13.3. Additional information. [OPTIONAL]

SPOV does not have an official scenario analysis and modelling strategy. However, in its ALM modelling and determining which new asset classes to invest in, ESG considerations that are integral to a specific asset class are taken into account.

Additionally, for the internally managed portfolio SPF Beheer takes into account ESG considerations in sector allocations. Although, due to the unique investment strategy, certain sectors cannot be over- or underweighted but certain sectors can be excluded in its entirety or specific subparts of a sector. Already back in 2012 SPF Beheer has decided not to invest in the tobacco sector in its listed equity portfolio due to its negative effects on society and the reputational risk attached. In 2017 similar decision has been made for the oil sector and in 2018 for coal mining. 


SG 13 CC.


SG 14. Long term investment risks and opportunity

14.1. Some investment risks and opportunities arise as a result of long term trends. Indicate which of the following are considered.

14.2. Indicate which of the following activities you have undertaken to respond to climate change risk and opportunity

14.3. Indicate which of the following tools the organisation uses to manage climate-related risks and opportunities.

14.5. Additional information [Optional]

In 2018, SPOV measured the carbon footprint of its portfolio (where possible due to data limitations). Measurement of carbon footprint of the portfolio is intended to be conducted annually. SPOV is actively working on developing a climate change policy.


SG 14 CC.


SG 15. Allocation of assets to environmental and social themed areas

15.1. Indicate if your organisation allocates assets to, or manages, funds based on specific environmental and social themed areas.

15.2. Indicate the percentage of your total AUM invested in environmental and social themed areas.

7 %

15.3. Specify which thematic area(s) you invest in, indicate the percentage of your AUM in the particular asset class and provide a brief description.

Area

Asset class invested

82 % of AUM

Brief description and measures of investment

The internally managed real estate portfolio observes a strict environmental policy. All buildings in our portfolio observe strict environmental criteria and renovations are conducted with respect for the environment.

Over 80% of buildings in our internally managed real estate portfolio have a green energy label (C-label or higher). The division among the different categories is; housing 76%, shops 100% and offices 89%. Newly acquired buildings all have an A-label or higher. The existing buildings in our portfolio are being upgraded to an as high as possible label upon renovation.

Asset class invested

30 % of AUM

Brief description and measures of investment

Since 2015 SPOV invests in a fund on sustainable agriculture in emerging markets. This fund is part of the impact portfolio.

Asset class invested

30 % of AUM

Brief description and measures of investment

SPOV participates in several microfinance funds. The funds aim to include small self-employed entrepreneurs and farmers in developing countries in economic activity. The funds provide debt funding to MFIs in developing and transition countries. The MFIs in turn lend the money to end users - the micro-entrepreneurs and farmers. https://www.actiam.nl/en/product-services/microfinance-funds

Microfinance is part of the impact portfolio.

Asset class invested

32 % of AUM

Brief description and measures of investment

SPF Beheer has been involved in the setup of an sustainable agricultural SME fund. The Annona fund invests in Africa and Latin America in SMEs. http://www.annona.nl/en/ SPOV currently has a stake in this fund.

Also SPOV participates in another SME Finance Fund. This fund aims at channeling institutional investment capital to the SME sector in developing and emerging countries. SPF Beheer carries out the investments on behalf of the funds. https://www.actiam.nl/en/product-services/sme-finance-fund

SME financing is part of the impact portfolio.

Asset class invested

8 % of AUM

Brief description and measures of investment

Several property projects include social housing.

Asset class invested

13 % of AUM

Brief description and measures of investment

The pension funds invest in schools and day-care centers, http://www.kidafo.com/.

15.4. Please attach any supporting information you wish to include. [OPTIONAL]



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