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Robeco

PRI reporting framework 2020

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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

08.1. Describe how you ensure that best RI practice is applied to managing your assets

Measures

          Robeco Private Equity encourages and promotes ESG best practices among PE managers in different ways: 
- by sharing best ESG practices through the annual ESG engagement report; 
- by providing recommendations on how managers can improve their ESG approach and 
- by organizing annual round tables on ESG topics where PE managers from our ESG program share knowledge and learn from experts.
        

Measures

          In case PE managers are not open to ESG integration in their investment process Robeco Private Equity would not invest in their funds. In this way our selection is biased towards the managers that are willing to improve their RI/ESG practices, or might already have ESG best-practices in place.
        

08.2. Additional information. [Optional]

Sharing best ESG practices is one of the building blocks of Robeco Private Equity's ESG engagement program. As part of the program's activities PE managers are encouraged to share their good practices with their peers in our program. We collect such practices through our annual monitoring process and include them in the annual ESG report which is sent to all participating managers. In 2016 Robeco Private Equity started engaging with selected managers on more specific RI/ESG themes, such as human rights management in supply chain, in the form of round table discussions.


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
          Diversity in private equity
        
Conducted by
Asset class
Scope and process

To contribute to better awareness of the (lack of) diversity in private equity Robeco Private Equity conducted research on the topic in the first half of 2019. Responses from the annual ESG survey, relevant reports provided by the PE managers and external data sources and research reports were used for this purpose. Research findings were summarized in the 2019 private equity ESG report. 

Outcomes

The findings of the research on different aspects of diversity in private equity, including good practices implemented by private equity managers in Robeco Private Equity's ESG program, were used as input in the discussions with the PE fund managers that took place in the second half of 2019.

Topic or issue
          Climate change
        
Conducted by
Asset class
Scope and process

The awareness of climate-related risks in private equity is still rather limited. This is also reflected in the number of PE fund managers who are able to report on CO2 emissions of their portfolios. To help raise awareness for climate-related risks and opportunities Robeco Private Equity surveyed PE managers in its ESG program in 2019 on how they manage climate risks. Their responses provide an indication of how aligned PE managers in the program were with the TCFD recommendations.

Outcomes

The findings of the analysis of PE managers climate risk management were summarized in Robeco Private Equity's 2019 ESG report. Results at the individual manager level served as input for feedback and recommendations that Robeco Private Equity provided to the managers in its ESG program in the second half of 2019. Results and recommendations have also been discussed in the feedback calls with the PE fund managers. 

Topic or issue
          Reporting on Sustainable Development Goals (SDGs)
        
Conducted by
Asset class
Scope and process

As part of its annual monitoring and reporting effort Robeco Private Equity analyzed to what extent (and how) PE fund managers measure and report on the positive contribution of their portfolio companies to the SDGs in 2019.

Outcomes

Robeco Private Equity summarized the positive contribution of the underlying portfolio companies to the SDGs, as reported by the PE fund managers, in its own 2019 ESG Report. In addition, Robeco private Equity encouraged PE managers with portfolio companies that might provide positive contribution to the SDGs to start measuring such contribution in the feedback on the assessment results, but also during the discussions (feedback calls) that took place in the second half of 2019.

Topic or issue
          Labor conditions in supply chain of a portfolio company in an investee fund
        
Conducted by
Asset class
Scope and process

In the fourth quarter of 2019 Robeco Private Equity was notified of bad labour conditions at one of the suppliers of an apparel company in one of the investee funds. After assessing the available information Robeco PE contacted the manager in question for an update on the situation and information on the actions taken by the managers and the portfolio company in question.

Outcomes

Following the initial enquiry two calls with the fund manager in question took place. Robeco Private Equity team has been informed about the corrective actions taken by the company in response to the discovered misconduct of its supplier. These actions are supposed to improve the situation at the supplier and prevent future incidents. In addition, the fund manager in question has taken steps to improve its monitoring process at the fund level going forward.

09.2. Additional information.

Robeco Private Equity addresses ESG issues on a continuous basis with PE managers that participate in its annual ESG engagement and reporting process. Each PE manager in the ESG Engagement Program receives an annual ESG report which includes good ESG practices among the participants. In its annual engagement report Robeco Private Equity showcases environmental, social and governance solutions and practices by the program participants that can be relevant for their peers to learn from.

In addition, Robeco Private Equity's annual engagement report provides an analysis of the ESG alerts and incidents at the portfolio companies of the managers in our program. In this way Robeco aims to increase their awareness about the relevance of good ESG policies and practices. The analysis of ESG incidents and events is being conducted using RepRisk as a tool.


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