The investment policy of SPMS relating to ESG consists of four pillars: 1) exclusion, 2) engagement, 3) voting, and 4) ESG integration into the portfolios. The starting point of our investment policy are the (inter-)national agreements we have committed ourselves to, including the UN Global Compact, Principles for Responsible Investment and Guiding Principles on Business and Human Rights from the UN, the OECD guidelines for multinational enterprises, and the Dutch Stewardship Code.
SPMS has also committed themselves to the Dutch pension fund initiative IMVB Convenant or in English: the International Responsible Business Conduct (IRBC) Agreement for Pension Funds (see https://www.imvoconvenanten.nl/-/media/imvo/files/pensioenfondsen/pension-funds-agreement.pdf).
SPMS has also developed ESG policy directly related to its character of being a pension fund for health care medical specialists, after consultation with a selection of its participants. Within this policy two UN Sustainable Development Goals have been identified as key investment objectives (SDG 3 and 7), and moreover, there is an additional exclusion policy on Dutch hospitals and producers of tobacco.
SPMS also expects companies to adhere to its own standards regarding corporate governance and subsequently issues an annual set of guidelines. The objectives include: 1) Improving the Board structure and make up, 2) Optimise the renumeration policy to such an extent that the executive management gets rewarded for creating and maintaining shareholder value in the long term, 3) Developing internal control and risk management systems, and 4) Protect the rights and interests of minority shareholders.