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Robeco

PRI reporting framework 2020

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Asset class implementation gateway indicators

OO 10. Active ownership practices for listed assets

10.1. Select the active ownership activities your organisation implemented in the reporting year.

Listed equity – engagement

Listed equity – voting

Fixed income SSA – engagement

Please explain why you do not engage directly and do not require external managers to engage with companies on ESG factors.

          We only engage with corporate issuers.
        

Fixed income Corporate (financial) – engagement

Fixed income Corporate (non-financial) – engagement

Fixed income Corporate (securitised) – engagement


OO 11. ESG incorporation practices for all assets

11.1. Select the internally managed asset classes in which you addressed ESG incorporation into your investment decisions and/or your active ownership practices (during the reporting year).

Listed equity

Fixed income - SSA

Fixed income - corporate (financial)

Fixed income - corporate (non-financial)

Fixed income - securitised

Cash

Other (1)

`Other (1)` [as defined in OO 05]

          Balanced assets - lifecycle funds and multi asset funds
        
Select the externally managed assets classes in which you and/or your investment consultants address ESG incorporation in your external manager selection, appointment and/or monitoring processes.
Asset class
ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes
Private equity

Private equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

11.4. Provide a brief description of how your organisation includes responsible investment considerations in your investment manager selection, appointment and monitoring processes.

Robeco Private Equity

Robeco Private Equity (Robeco PE) considers sustainability factors in the selection, appointment, and monitoring of investment managers. During screening, we evaluate an external manager's approach to

responsible investing and ESG integration, and their willingness to enter into a dialogue with us on this. Before committing to an external manager's PE fund, Robeco PE checks the following aspects of a PE

manager's ESG approach as part of its ESG due diligence (next to the standard investment, legal and fiscal due diligence):

• Does the manager have explicit responsible investment policies?

• Does the manager subscribe to some form of responsible investing framework or set of principles/ practices for responsible business?

• Is there a person, function or committee that is explicitly responsible for ESG?

• Does the manager use internal or external ESG specialists (consultants, research providers, etc.)?

• Are ESG issues integrated into the manager's investment process and how?

• Does the manager have a monitoring system for ESG performance of its portfolio companies?

• What information does the manager monitor in its portfolio companies?

• How does the manager communicate with LPs on its ESG policies, practices and incidents?

• Does the manager publish a separate ESG/sustainability/RI report?

 

Upon appointment, Robeco Private Equity includes a clause regarding adherence to Robeco's Exclusion Policy in the side letters, asks managers to enter into an ESG engagement process, and to provide

information on their ESG efforts at least annually. In the monitoring phase, Robeco Private Equity focuses on the monitoring and assessment of the ESG

progress of the PE managers, as well as engaging with the managers on how they can improve their ESG performance. For the reporting and assessment part of our process we use the PRI (online) Reporting

and Assessment Tool. Engagement with managers on ESG integration represents the core of Robeco Private Equity's responsible investment approach. We are in active dialogue with the PE fund managers on the relevance

of ESG factors for PE investments and their implementation in their investment process. We started our ESG Engagement Program in 2004 and developed it further over the years. Next to pro-active

engagement we have also introduced a re-active engagement with our managers in 2016. Namely, we also engage with the PE managers on ESG incidents in their portfolio companies. As part of our

monitoring process we track ESG incidents that RepRisk records for the portfolio companies. (RepRisk a  newsflow screening tool that is used to identify ESG incidents and other news for companies) When ESG

events indicate a material issue we enter into a dialogue with the affected manager(s). The ESG process is fully integrated within our investment process. Robeco PE has a dedicated

sustainability director who is responsible for the implementation of the ESG Engagement Program and ESG integration in the investment process.

 


OO 12. Modules and sections required to complete

12.1. Below are all applicable modules or sections you may report on. Those which are mandatory to report (asset classes representing 10% or more of your AUM) are already ticked and read-only. Those which are voluntary to report on can be opted into by ticking the box.

Core modules

RI implementation directly or via service providers

Direct - Listed Equity incorporation

Direct - Listed Equity active ownership

Direct - Fixed Income

RI implementation via external managers

Indirect - Selection, Appointment and Monitoring of External Managers

Closing module

12.2. Additional information. [Optional]


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