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Robeco

PRI reporting framework 2020

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Objectives and strategies

SG 05. RI goals and objectives

05.1. Indicate if and how frequently your organisation sets and reviews objectives for its responsible investment activities.

05.2. Additional information. [Optional]

Robeco sets objectives for its responsible investment activities at the beginning of each year. During the year the progress on these objectives is regularly reviewed and discussed in the Sustainability & Impact Strategy Committee (SISC).

The SISC consists of members of the executive committees of Robeco and RobecoSAM and senior sustainability managers and specialists who oversee and drive sustainable investing. In this SISC committee the sustainability policy architecture has been set up and regularly discussed. This topics architecture includes the key sustainability investing topics where both Robeco and RobecoSAM focus on. At the end of 2019 the progress on different sustainability topics has been discussed and evaluated in the SISC.
Important milestones in 2019 were:

  • Describing our fund range and making sure there is a uniform approach and minimum sustainability standards across the sustainable ranges. 
  • A Climate Change Task Force was put in place to ensure that Robeco and RobecoSAM remain leaders in climate change research and investment strategy, fulfill our commitments to the Task Force on Climate Related Financial Disclosure (TCFD), the Dutch Climate Accord and that we are prepared for the upcoming EU regulation.
  • Approved to apply for the Belgian Febelfin labels for the majority of our sustainable fund range. Next to the French SRI labels that were already received, also the Eurosif Transpareny code was endorsed for our funds. As these labels require a thorough due diligence by external auditors, the SISC also keeps updates on operational requirements and IT improvements.

The SISC committee is described in Robeco's stewardship policy.
https://www.robeco.com/docm/docu-robeco-stewardship-policy.pdf
 


SG 06. Main goals/objectives this year

06.1. List the main responsible investment objectives that your organisation set for the reporting year.

Responsible investment processes

Key performance indicator

          ESG incorporation is part of quarterly knowledge sharing meetings for investment teams on Sustainable Investing (SI).
        

Progress achieved

Four SI knowledge sharing meetings were held in 2019.

Our Executive Committee received education on our approach to ESG incorporation, climate change task force and ESG regulation. 

Key performance indicator

          ESG engagement is part of quarterly SI knowledge sharing meetings for investment teams, 
SI and Engagement sessions for clients and investment colleagues are organised
        

Progress achieved

Four SI knowledge sharing meetings were held in 2019.

We organized a SI & Engagement session and an engagement client panel in 2019 .

Key performance indicator

          Publications (articles and research papers on ESG investing) and knowledge sharing events
        

Progress achieved

In 2019, Robeco published a substantial amount of SI related articles and papers on the intranet and organised many SI knowledge sharing meetings on SI and ESG integration. As a result, the overall knowledge level of employees with regards to SI and ESG integration has further improved.

Key performance indicator

          Number of engagement cases closed successfully
        

Progress achieved

In 2019, Robeco engaged with 229 companies on 255 cases. In 2019, 58% of the engagement cases were closed successfully.

Key performance indicator

          Quality of ESG integration
        

Progress achieved

The quality of ESG integration has further improved in the different asset classes. The head of ESG integration continues to play a coordinating and steering role in this process.

In 2019 quality control focused on fundamental equity strategies in Emerging markets, Asia Pacific and China. Results were shared with the teams and agreements on improvements were made. Also an ESG integration manual was put in place and shared with the teams.

Furthermore knowledge sharing meetings were held regularly for both the Fundamental SI specialists as the Quantitative departments in order to share new development and best practices.

Financial performance of investments

Key performance indicator

          Further quantify the impact of ESG integration in portfolio management
        

Progress achieved

We quantified the impact of ESG integration in equity and credit investments. Some specific examples:

 https://www.robeco.com/en/insights/2019/11/lower-credit-risk-observed-in-sectors-that-are-positively-aligned-with-the-sdgs.html

 https://www.robeco.com/en/insights/2019/09/we-seek-similar-returns-but-with-a-better-sustainability-profile.html

 https://www.robeco.com/en/insights/2019/06/combining-quant-and-si-yields-cost-effective-solutions.html

https://www.robeco.com/en/insights/2019/05/how-esg-aids-outperformance-in-global-stars-equities.html

ESG characteristics of investments

Key performance indicator

          Percentage of investment cases influenced by ESG scores.
        

Progress achieved

We measured the progress on investment cases influenced by ESG scores.

The impact of the ESG analysis on valuation of companies and on the fundamental score of the credit team is stored by each team. We continue to monitor and measure the impact of our ESG analysis on our investment decision making.

 

Key performance indicator

          In quant equity portfolios, the ESG rating should be higher than the benchmark.
        

Progress achieved

In all quant equity portfolios, the total ESG rating is higher than the benchmark.

Key performance indicator

          Carbon reduction (greenhouse gasses emissions)
        

Progress achieved

Robeco has a climate change policy in place (https://www.robeco.com/en/insights/2017/10/robeco-launches-climate-change-policy.html) that addresses our carbon reduction approach. This approach includes:

All Robeco SI Focus funds optimize their carbon footprint by having a carbon reduction target of at least 20% versus the benchmark.

The SI Focus funds are divested from mining companies with more than 10% of revenues derived from thermal coal, and from power producers with more than 20% of thermal coal-related revenues.

In addition, for several clients, Robeco monitors carbon exposure and carbon risk as part of an ESG overlay. The amount of clients that has specific carbon requirements has increased substantially over 2018.

 

Other description (1)

          Creating a sustainability platform that promotes the launch of sustainable solutions for our clients that increases ESG scores and lowers carbon footprints.
        

Key performance indicator

          Launching sustainable strategies.
        

Progress achieved

In 2019 we expanded our Sustainability Focus range with a few new fundamental equity strategies: Sustainable Global Stars, Sustainable Emerging Stars and Sustainable Property. 

Other description (2)

          Rolling out the use of the SDG framework to assess companies’ contribution to sustainable development across multiple universes and teams
        

Key performance indicator

          Expanding the coverage of our SDG scores.
        

Progress achieved

In 2019 we expanded the coverage of our SDG scores from around 1545 companies in 2018 to about 1774 companies in 2019.

Other activities

Key performance indicator

          Active participation in relevant RI initiatives.
        

Progress achieved

Active participation in several RI initiatives like PRI working groups, ICCR, ACGA and Eumedion. In 2019 we became a board member of the Brazilian engagement platform AMEC and a council member of the Asian Corporate Governance Association (ACGA). Please see an overview of all initiatives where Robeco is active in SG 09.1.

An overview of Robeco’s involvement in / commitment to stewardship codes can be found in Robeco’s Stewardship Policy (page 6). https://www.robeco.com/docm/docu-robeco-stewardship-policy.pdf

Key performance indicator

          Publish case studies on SI topics like ESG integration and active ownership.
        

Progress achieved

In 2019 we published a significant number of case studies on ESG integration and Active Ownership that were communicated to clients. 

Some examples:

https://www.robeco.com/en/insights/2019/04/our-guide-to-investing-in-sdg-credits.html

https://www.robeco.com/en/insights/2019/06/using-engagement-to-unpick-the-korean-discount.html

Please find more examples on our sustainability insights webpage at Robeco.com

06.2. Additional information.

Our ambitions on Sustainable Investing have been stated in our Sustainability report.

The objectives described above for this question are set to action these ambitions.

https://www.robeco.com/en/about-us/corporate-responsibility-report.html


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