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Stichting Pensioenfonds UWV

PRI reporting framework 2020

You are in Strategy and Governance » Governance and human resources

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

Other description (1)

          Independent Internal Risk Officer
        

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

Fiduciary manager is responsible for the oversight for responsible investment by means of ESG-monitoring and ESG-reporting. The pension fund remains accountable for the outcome of the policy.

The implementation of the ESG-policy is mostly done by the external managers and in some instances (i.e. engagement) also by the fiduciary manager.

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

0.5 Number

07.4. Additional information. [Optional]

At Pensioenfonds UWV there is no dedicated responsible investment staff. However, the 2 investments professional working for the pension fund spend approximately 25% of their time on ESG policy preparation and judging ESG reporting. At the fiduciary manager and external managers combined there are multiple persons (estimation of at least 10) dedicated to the implementation of the policy.


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

Investment analysts

External managers or service providers

Other role, specify (1)

          Independent Internal Risk Officer
        

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

The boad has set ESG-goals of which some are directly tied to climate action. The board is ultimately responsible whether these goals are implemented. To this end it oversees, with the help of the Pension Bureau, whether external managers and service providers (ie. fiduciary manager) implement the ESG policy and whether these parties report in a sufficient fashion about the implementation outcomes.

The fiduciary manager assesses/monitors the implementation efforts of the external managers. In this respect, the CO2 intensity of the investment portfolio is compiled on an annual basis. Furthermore, the fiduciary manager tracks the degree of CO2 emission reduction by comparing the CO2 intensity of the ESG benchmarks choses versus a regular (non-ESG) benchmark.

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

Specify

          Most managers of liquid investment categories apply TCFD. However, manager of illiquid portfolios use other metrics.
        

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


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