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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 » Outputs and outcomes

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories (Private)

SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue 
          Voting
Conducted by
Asset class
Scope and process

Our annual evaluation of voting behaviour showed that this is not always in line with our voting guidelines.
Outcomes

 

We started engagement with external managers to improve this.

 
Topic or issue 
          GRESB
Conducted by
Asset class
Scope and process

 

Based on the GRESB results of our investments, we share our analysis with the fund managers.

 
Outcomes

These analyses are highly appreciated by our managers and lead to informed discussions on ESG. One of our managers even decided to use our format for their internal and external communication on GRESB.
Topic or issue 
          ESG incorporation
Conducted by
Asset class
Scope and process

During the due diligence we discussed ESG issues with a manager in China, how they run their business, their ESG policy and how they incorporate ESG factors in their investment and operating process
Outcomes

Now this manager is a leader in ESG, both in Asia and Globally.
Topic or issue 
          Lack of ESG policy
Conducted by
Asset class
Scope and process

Formerly the manager did not have a formal ESG policy, no staff responsible for ESG practices and low ESG performance on the real estate investments. Since investing with them, we have requested a fund level ESG policy with clear objectives, implementation and reporting about the results.
Outcomes

The manager has accepted our requests and drafted a ESG policy, has appointed an ESG responsible person and has formed a sustainability working group. For two years in a row they participated in the GRESB annual survey and they have shown gradual improvement in the ESG performance compared to their peers in the industry.
Topic or issue 
          Company's involvement landfills
Conducted by
Asset class
Scope and process

We were invited to co-invest alongside an European GP in a waste services company. The main concern which prompted declining the opportunity was the potential for reputational issues stemming from the company's involvement in landfills.
Outcomes

We didnt invest.

09.2. Additional information.

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