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St. Bedrijfspensioenfonds voor de Koopvaardij

PRI reporting framework 2020

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You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (A) Implementation: Screening

(A) Implementation: Screening

FI 04. Types of screening applied

04.1. Indicate the type of screening you conduct.

Select all that apply
SSA
Corporate (non-financial)
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

04.2. Describe your approach to screening for internally managed active fixed income

SSA (DM): In European sovereign bonds investments we score the countries by looking at several governance indicators. Only the countries that score sufficient are eligible for inclusion. We take into account Governance data from the World Bank Worldwide Governance Index.

SSA (EMD): We use negative screening based on UN PRI principles and ESG criteria (based on a set of ESG indices such as ND-GAIN, HDI etc., which are updated yearly) to provide a minimum level of ESG standards in the portfolio. This results in excluding around 50% of the amount of countries. Norms-based screening is done via Global Compact Violators

Corporates (Fin and non-Fin), see FI 04.3

04.3. Additional information. [Optional]

Corporates (Fin and non-Fin): we use an exclusion list for negative screening. As of 2017 Emerging market Corporates are excluded due to concerns on Governance. The exclusion criteria UN PRI are reviewed on a quarterly basis and/or if a material ESG risk materializes. Furthermore, for sectors with high ESG risks, we arrive at a preference for various subsectors or group of companies and use positive/best-in-class screening. In terms of norm-based screening, we analyze each corporate that is part of our investable universe and we require certain minimum standards regarding environment, social and governance, disclosure and business practice.


FI 05. Examples of ESG factors in screening process (Private)


FI 06. Screening - ensuring criteria are met

06.1. Indicate which systems your organisation has to ensure that fund screening criteria are not breached in fixed income investments.

Type of screening
Checks
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

06.2. Additional information. [Optional]


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