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ACTIAM

PRI reporting framework 2020

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Governance and human resources

SG 07. RI roles and responsibilities

07.1. Indicate the internal and/or external roles used by your organisation, and indicate for each whether they have oversight and/or implementation responsibilities for responsible investment.

Roles

Select from the below internal roles

          Head of Fund Management
        

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

The CEO, CIO, Head of Fund Management and Head of ESG Research are all part of the ACTIAM ESG Committee. Furthermore, an external professor Business Ethics is part of the ACTIAM ESG Committee. 

The committee meets at least on a quarterly basis to discuss, approve/reject and monitor ESG policies, cases, developments, KPIs etc. The agenda and suggestions are drafted by the ESG Research department and are challenged by the committee, just as the progress and developments of running engagements. The committee members are closely involved in, for example, the development of new policies. In the last two years, the Committee is also called into action for decision-making several times a year, via Fast Tracks. Such procedures are used, for instance, when new entries into the benchmark are advised by the ESG Team to be excluded, or when relevant incidents occur among investees and the ESG Team advices for urgent action. Furthermore, the Committee came together to discuss the status and progress of several engagements, where the milestones and status of these dialogues were analyzed and challenged. 

Within the research process, the ESG team also collaborates with several other departments. This is mainly the portfolio managers, but can also be the treasury desk or risk management. When drafting the cases and coming to an advice, this is first challenged within the ESG  team and then brought up for discussion in the meetings. 

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

17 Number

07.4. Additional information. [Optional]

At the start of 2019, we had nine FTE, and at the end of 2019, the team consisted of 6 full time staff. We also have a separate impact investing team (see Inclusive Finance), with 8 FTE. Furthermore, we have (on average) 2 interns. Additionally, several portfolio managers in both equity and fixed income are dedicated to ESG/responsible investment funds (not counted in the number above).


SG 07 CC. Climate-issues roles and responsibilities

07.5 CC. Indicate the roles in the organisation that have oversight, accountability and/or management responsibilities for climate-related issues.

Board members or trustees

Chief Executive Officer (CEO), Chief Investment Officer (CIO), Chief Risk Officer (CRO), Investment Committee

Other Chief-level staff or heads of departments

Portfolio managers

Investment analysts

Dedicated responsible investment staff

07.6 CC. For board-level roles that have climate-related issue oversight/accountability or implementation responsibilities, indicate how these responsibilities are executed.

On a quarterly basis (at least), the ESG team informs and request approval on decisions from the ACTIAM ESG Committee. This committee consists of the CEO, CIO, Head of Fund Management, Head of ESG, and an external expert who is also a Professor in Ethics. The results of the quarterly investment universe screening, e.g. companies that violate our policies or are considered non-adaptive to the transition, are prepared for the ACTIAM ESG Committee meeting to be discussed. In addition, a progress report of engagements is sent to the committee. These screenings and engagements include several factors on international standards, best practices and the various material drivers set by our investment policy.
To monitor progress towards our carbon footprint reduction target, we measure our carbon footprint on at least an annual basis. This feeds into annual reports of investment funds. The annual reports are approved by the board and audited by an external auditor.

07.7 CC. For management-level roles that assess and manage climate-related issues, provide further information on the structure and processes involved.

The CIO, who is a member of the board, is ultimately responsible for the full investment cycle, including the assessment and management of climate-related issues across all investments. In 2019, the ESG team has developed a dashboard, which allows portfolio managers and the CIO to gather further insights on the climate-related issues of investments, supported by data developed by in-house research. 

07.8 CC. Indicate how your organisation engages external investment managers and/or service providers on the TCFD recommendations and their implementation.


SG 08. RI in performance management, reward and/or personal development

08.1. Indicate if your organisation’s performance management, reward and/or personal development processes have a responsible investment element.

Board members/Board of trustees

08.1b. RI in personal development and/or training plan

08.2. Describe any activities undertaken during the reporting year to develop and maintain Board members’ skills and knowledge in relation to responsible investment.

Our board members develop and maintain their RI skills via diverse training and conferences, within a structured permanent educational programme. In 2019, our CFO and CRO have followed courses provided by the ESG Team on Sustainabille investment topics, as well as external conferences around Responsible Investment aspects. 

Chief Executive Officer (CEO), Chief Investment Officer (CIO), Chief Operating Officer (COO), Investment Committee

08.1a. RI in objectives, appraisal and/or reward

08.1b. RI in personal development and/or training plan

Other C-level staff or head of department

          Head of Fund Management
        

08.1a. RI in objectives, appraisal and/or reward

08.1b. RI in personal development and/or training plan

Portfolio managers

08.1a. RI in objectives, appraisal and/or reward

08.1b. RI in personal development and/or training plan

Investment analysts

08.1a. RI in objectives, appraisal and/or reward

08.1b. RI in personal development and/or training plan

Dedicated responsible investment staff

08.1a. RI in objectives, appraisal and/or reward

08.1b. RI in personal development and/or training plan

08.3. Provide any additional information on your organisation’s performance management, reward and/or personal development processes in relation to responsible investment.

ACTIAM's performance management and reward process is based on KPIs and key competencies. KPIs include ESG indicators for front office staff, including portfolio managers and management. ACTIAM has extensive education/personal development opportunities, which can include ESG trainings.


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