SPOV applies one general principle - we will always engage with a company in response to (potential) breaches of the minimum ESG standards we believe a company should adhere to.
Portfolio managed by SPF Beheer:
Given the nature of the portfolio (concentrated portfolio with 60-80 names) with high standards on quality of the companies including ESG aspects, a formal process for identifying and prioritizing engagement on the internally managed portfolio is not necessary. Overall, SPF Beheer always engages with a company in response to (potential) breaches of the minimum ESG standards we believe a company should adhere to. Besides this formal process, we are in a regular dialogue with all companies in the portfolio, Due to the limited number of companies invested in this is doable. The conversations include both financial as well as ESG topics relevant for the company.
Portfolio managed by other managers:
For companies that are included in the portfolios of the external managers, SPF Beheer engages by means of collaborative engagements. The selection of which collaborative engagements to participate in is made based on three factors: (1) the materiality of the ESG topic at stake, (2) the extent to which the topic aligns with the ESG policy of our clients, and (3) the exposure that we have to companies that will be engaged upon.