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Stichting Pensioenfonds van de ABN AMRO Bank N.V.

PRI reporting framework 2020

You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          exclusion list
        
Conducted by
Asset class
Scope and process

We monitor whether the equity portfolios contain companies of the exclusion list. In one case there was a company that should be excluded from the portfolio but was still in the portfolio.

Outcomes

We discussed this matter with the investment manager, and the invesmtent manager sold the position right away.

Topic or issue
          Carbon emissions reduction
        
Conducted by
Asset class
Scope and process

We have a target of carbon emission reduction, and implement this in our equity benchmarks. The manager have relatively passive guidelines to track the benchmark, but have a small tracking error budget to deviate a little of the benchmark. Because of a portfolio management decision the investment manager decided to overweight one company in Vietnam. When we monitored the benchmark characteristics of the benchmark and the portfolio we saw a big difference in carbon emissions. The overweighted company in Vietnam was a utility company with large emissions.

Outcomes

We have discussed this with the investment manager, and found a solution to reduce the overweigth in the Vietnam company to reduce carbon emission, and still have the same portfolio characteristics wich was important for the investment manager.

09.2. Additional information.


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