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Robeco

PRI reporting framework 2020

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You are in Indirect – Manager Selection, Appointment and Monitoring » Monitoring

Monitoring

SAM 05. Monitoring processes (listed equity/fixed income)

05.1. When monitoring managers, indicate which of the following types of responsible investment information your organisation typically reviews and evaluates

ESG objectives linked to investment strategy (with examples)

Evidence on how the ESG incorporation strategy(ies) affected the investment decisions and financial / ESG performance of the portfolio/fund

Compliance with investment restrictions and any controversial investment decisions

ESG portfolio characteristics

How ESG materiality has been evaluated by the manager in the monitored period

Information on any ESG incidents

Metrics on the real economy influence of the investments

PRI Transparency Reports

PRI Assessment Reports

RI-promotion and engagement with the industry to enhance RI implementation

Changes to the oversight and responsibilities of ESG implementation

Other general RI considerations in investment management agreements; specify

None of the above

Private equity
ESG objectives linked to investment strategy (with examples)
Evidence on how the ESG incorporation strategy(ies) affected the investment decisions and financial / ESG performance of the portfolio/fund
Compliance with investment restrictions and any controversial investment decisions
ESG portfolio characteristics
How ESG materiality has been evaluated by the manager in the monitored period
Information on any ESG incidents
Metrics on the real economy influence of the investments
PRI Transparency Reports
PRI Assessment Reports
RI-promotion and engagement with the industry to enhance RI implementation
Changes to the oversight and responsibilities of ESG implementation
Other general RI considerations in investment management agreements; specify
None of the above

05.2. When monitoring external managers, does your organisation set any of the following to measure compliance/progress

ESG score or assessment

ESG weight

ESG performance minimum threshold

Real world economy targets

Other RI considerations

None of the above

Private equity
ESG score
ESG weight
ESG performance minimum threshold
Real world economy targets
Other RI considerations
None of the above

If you select any `Other` option(s), specify

Robeco Private Equity assesses the ESG performance of PE managers on an annual basis. We combine the scores for the two modules into a total ESG score which we communicate to the managers together with recommendations on how they can improve their ESG frameworks in the future.

Robeco Private Equity also monitors progress of individual managers over time and benchmarks managers against the best performers in its ESG engagement program. The ESG score card which managers receive provides some insights into the best practices among the PRI signatories in general.

In addition, Robeco Private Equity continuously monitors whether ESG-related incidents have taken place in the portfolio companies of PE funds that are part of its ESG engagement universe. RepRisk is being used for this purpose. The tool also provides metrics (e.g. index and ratings) that allow for the measurement of reputational risk of individual companies and portfolios as a whole.

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

          Robeco Private Equity introduced its ESG monitoring and engagement process in 2004 when its Robeco Sustainable Private Equity program was launched. The annual survey of ESG activities of PE managers provides the necessary information for the assessment of their ESG performance, and is a vital input for our structured engagement program. The purpose of Robeco Private Equity's engagement process is to assist participating managers in building their ESG frameworks and integrate ESG considerations in their investment process in a structured and formalized way, and be able to report on their results. A crucial part of Robeco Private Equity's engagement process has been providing feedback and recommendations for improvements to the private equity managers on an annual basis. Sharing ESG best practices with the managers in the ESG program presents part of the knowledge sharing efforts.    

Since 2016 we have been using the PRI’s online Reporting and Assessment Tool for the collection and assessment of ESG information from the PE managers. In this way we monitor how PE fund managers have formalized their ESG approach and how they are implementing it in their investment practice. The PRI assessment tool also enables us to benchmark the performance of the PE managers in our ESG program against the broader group of PE firms that are PRI signatories. The ESG scores from the annual assessment enable us to monitor the performance of our own ESG engagement program over time.     

Next to the monitoring of the PE fund managers progress in ESG integration over time, Robeco Private Equity also monitors ESG incidents that take place in the portfolio companies. For this purpose, we use RepRisk which helps us investigate and assess the necessity to ask for additional information and response from the relevant PE fund managers.
        

SAM 06. Monitoring on active ownership (listed equity/fixed income) (Not Applicable)


SAM 07. Percentage of (proxy) votes (Not Applicable)


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