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Stichting Pensioenfonds Zorg en Welzijn

PRI reporting framework 2020

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Indirect – Manager Selection, Appointment and Monitoring
Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (B) Implementation: Thematic [LEI 07] (C) Implementation: Integration of ESG factors [LEI 08 - 10] Outputs and outcomes [LEI 12 - 13]
Direct - Listed Equity Active Ownership
Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 06] (B) Implementation: Thematic [FI 07 - 09] (C) Implementation: Integration [FI 10 - 12] ESG incorporation in passively managed fixed income [FI 13] Fixed income - Engagement [FI 14 - 16] Outputs and outcomes [FI 17 - 18]
Direct - Property
Overview [PR 01] Pre-investment (selection) [PR 04 - 06] Post-investment (monitoring and active ownership) [PR 08 - 14] Overview [PR 08] Property monitoring and management [PR 09 - 10] Outputs and outcomes [PR 15 - 16]
Direct - Infrastructure
Overview [INF 01 - 02] Pre-Investment (Selection) [INF 05 - 09] Post-investment (monitoring and active ownership) [INF 11 - 16] Overview [INF 11] Infrastructure Monitoring and Operations [INF 12 - 14] Infrastructure Maintenance [INF 15] Stakeholder engagement [INF 16] Outputs and outcomes [INF 17 - 18]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Indirect – Manager Selection, Appointment and Monitoring » Appointment

Appointment

SAM 04. Appointment processes (listed equity/fixed income)

04.1. Indicate if in the majority of cases and where the structure of the product allows, your organisation does any of the following as part of the manager appointment and/or commitment process

04.2. Provide an example per asset class of your benchmarks, objectives, incentives/controls and reporting requirements that would typically be included in your managers’ appointment.

Asset class

Benchmark 

          PGGM proprietary benchmark including ESG and CO2

ESG Objectives 

          impact mandate (limited universe of impact companies)
        
          in line with our exclusion policy
        
          To ensure better ESG profile of the portfolio and to lower CO2 footprint.
        
          engagement with companies in impact universe
        
          Vote all shares
        
          commitment letter

Incentives and controls

Reporting requirements

Benchmark 

          mainstream index market weighted

ESG Objectives 

          in line with our exclusion policy

Incentives and controls

Reporting requirements

Benchmark 

          Mainstream index market weighted

ESG Objectives 

          in line with our exclusion policy

Incentives and controls

Reporting requirements

Benchmark 

          Mainstream index market weighted

ESG Objectives 

          in line with our exclusion guidelines

Incentives and controls

Reporting requirements

Benchmark 

          We use the Burgiss benchmark data to compare the performance of the PE portfolio with our peers.

ESG Objectives 

          In 2019, the private equity team started a new initiative to find investment 
opportunities within the BiO themes of climate change, water scarcity, food security and healthcare.
        
          in line with our exclusion policy
        
          engagement with GP's to ensure better ESG profile.
        
          Our asset managers asks GP's to report incidents

Incentives and controls

Reporting requirements

Benchmark 

          GRESB

ESG Objectives 

          in line with exclusion policy
        
          Ensure better ESG profile of the portfolio

Incentives and controls

Reporting requirements

Benchmark 

          GRESB

ESG Objectives 

          in line with exclusion guidelines
        
          ESG integration, specify Ensure better ESG profile of the portfolio

Incentives and controls

Reporting requirements

04.3. Indicate which of these actions your organisation might take if any of the requirements are not met

04.4. Provide additional information relevant to your organisation`s appointment processes of external managers. [OPTIONAL] 

          Property: In order for an external manager to be appointed, they have to sign and thereby agree to our responsible investing policy. Furthermore, they are obliged to take part in the annual GRESB survey. This enables us to keep track on a fund’s ESG performance and could be a starting point for fruitful engagement on individual aspects. Lastly, managers have to report on a number of key indicators on a quarterly basis. This means that an external manager needs to be willing to adhere to all these requirements in order to be eligible as a manager.
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