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.