This report shows public data only. Is this your organisation? If so, login here to view your full report.

Stichting Shell Pensioenfonds

PRI reporting framework 2020

You are in Strategy and Governance » Asset class implementation not reported in other modules

他のモジュールで報告されていない資産クラスの実施

SG 16. ESG issues for internally managed assets not reported in framework

組織内で運用される資産のうち、特定のPRI資産クラスモジュールがまだ開発されていない、または資産が最小基準値を下回るために報告する必要がない資産のESG問題への対処方法を説明してください。

資産クラス

実施しているプロセスおよび達成した成果または結果

債券 - 社債(金融)

ESG incorporation in investment decision making: All internal Fixed Income Corporate (financial) portfolio managers have access to MSCI ESG data. This includes ESG Ratings & Research, Controversial Conduct scores and Climate Change metrics. The data is used as an input for portfolio monitoring and is considered as part of the risk/return analysis when making investment decisions. 

Green bonds: The market for green bonds is increasing for Corporate Credit offerings and is considered in the security-selection phase. SSPF has a positive attitude towards this asset category and green bonds will be added to the portfolio where deemed appropriate. 

Engagement: SSPF has recruited Hermes EOS for engagement activities on its corporate credit holdings (incl. financial).

Exclusions: PMs refrain from owning financial instruments of companies on the SSPF exclusion list. This could be because of involvement in the manufacture, sale or distribution of cluster munitions and anti-personnel landmines or because of controversial conduct/UNGC non-compliance combined with unsuccesful engagement.

債券 - 証券化商品

Portfolios are managed internally but the instruments held are managed by external parties. The ESG policies and implementation thereof of these parties have been investigated.

16.2. 補足情報 [任意]


SG 17. ESG issues for externally managed assets not reported in framework

17.1. 組織外で運用される資産のうち、特定のPRI資産クラスモジュールがまだ開発されていない、または資産が最小基準値を下回るために報告する必要がない資産のESG問題への対処方法を説明してください。

資産クラス

実施しているプロセスおよび達成した成果または結果

上場株式 – ESGの組み入れ

ESG considerations are taken into account in the manager-selection process. Managers contending for a mandate are required to fill out an RfP which includes ESG-related questions.

Better-articulated and more-integrated ESG policies, scrutinised in the due diligence process (including resources, staff, systems and databases - dedicated to ESG), will compare favourably as part of the aggregate scoring of the manager’s organisation and investment process. As part of the operational due diligence (ODD) process, SAMCo puts emphasis on a thorough review of the manager’s governance structure. The ODD also includes a check on whether the firm is a signatory to the UNPRI - which is a preference but not a formal requirement. 

Any manager ultimately selected will be required to provide a declaration to refrain from investments in companies that are involved in the manufacture, sale or distribution of cluster munitions and anti-personnel landmines. Furthermore, managers are required to live by the Shell General Business Principles or have equivalent principles in place. These priciples are in line with the United Nations Global Compact.

After selection, SSPF - via SAMCo - engages with the managers to ensure ESG considerations remain on their agenda.

上場株式 – エンゲージメント

Hermes Equity Ownership Services (EOS) undertakes engagement on behalf of SSPF. Engagement with companies is undertaken both for monitoring and influencing purposes and, where relevant, to address strategic issues relevant to long-term value. Hermes EOS's engagements also address the major themes of the environment and governance as well as social and ethical issues. Progress is monitored by reference to a system of 'milestones' to ensure that satisfactory progress is made over a reasonable period of time. On the SSPF website, a quarterly engagement activity overview is provided.

上場株式 – (委任状による)議決権行使

It is SSPF’s policy to exercise its voting rights in all practicable cases based on its agreed voting principles. SSPF has delegated voting on the entities that it invests in to Hermes EOS. Hermes EOS provides ‘intelligent voting’ services to SSPF. This means that all proxies are voted with reference to the individual circumstances of the company and the vote, rather than by 'box ticking' or as a compliance driven activity. This includes considering the merits of and voting on specific shareholder resolutions. A general report on the voting activities of SSPF can be found on the website. Voting policy is in principle implemented for the entire equity portfolio. In some jurisdictions, legal requirements (blocking of shares for extended periods, notarisation requirements etc.) are prohibitive and consequently still obstruct the exercise of voting rights in practice.

債券 - SSA

ESG considerations are taken into account in the manager-selection process. Managers contending for a mandate are required to fill out an RfP which includes ESG-related questions.

Better-articulated and more-integrated ESG policies, scrutinised in the due diligence process (including resources, staff, systems and databases - dedicated to ESG), will compare favourably as part of the aggregate scoring of the manager’s organisation and investment process. As part of the operational due diligence (ODD) process, SAMCo puts emphasis on a thorough review of the manager’s governance structure. The ODD also includes a check on whether the firm is a signatory to the UNPRI - which is a preference but not a formal requirement. 

Any manager ultimately selected will be required to provide a declaration to refrain from investments in issuers that are not included in the SSPF investable universe (based i.a. on ESG considerations). Furthermore, managers are required to live by the Shell General Business Principles or have equivalent principles in place. These priciples are in line with the United Nations Global Compact.

After selection, SSPF - via SAMCo – engages with the managers to ensure ESG considerations remain on their agenda.

債券 - 社債(非金融)

ESG considerations are taken into account in the manager-selection process. Managers contending for a mandate are required to fill out an RfP which includes ESG-related questions.

Better-articulated and more-integrated ESG policies, scrutinised in the due diligence process (including resources, staff, systems and databases - dedicated to ESG), will compare favourably as part of the aggregate scoring of the manager’s organisation and investment process. As part of the operational due diligence (ODD) process, SAMCo puts emphasis on a thorough review of the manager’s governance structure. The ODD also includes a check on whether the firm is a signatory to the UNPRI - which is a preference but not a formal requirement. 

Any manager ultimately selected will be required to provide a declaration to refrain from investments in companies that are involved in the manufacture, sale or distribution of cluster munitions and anti-personnel landmines. Furthermore, managers are required to live by the Shell General Business Principles or have equivalent principles in place. These priciples are in line with the United Nations Global Compact.

After selection, SSPF - via SAMCo – engages with the managers to ensure ESG considerations remain on their agenda.

プライベートエクイティ

SSPF's approach to the incorporation of ESG considerations in the manager-selection process for Private Equity portfolios is broadly similar to the approach for Listed Equity portfolios (as described above). Furthermore, SSPF – via SAMCo – is involved in various initiatives to bring attention to ESG considerations in the Private Equity industry, for instance through participation in the Institutional Limited Partners Association (ILPA) which has pushed for topics like approval of conflicts of interests by LPACs and increased disclosure of non-financial sustainability metrics.

不動産

SSPF's approach to the incorporation of ESG considerations in the manager-selection process for Real Estate portfolios is broadly similar to the approach for Listed Equity portfolios (as described above). Furthermore, SSPF – via SAMCo - requests its Real Estate managers to participate in the Global Real Estate Sustainability Benchmark (GRESB) survey on an annual basis and engages in conversations with managers about improvements in their scores. This survey is the leading tool for assessing the ESG characteristics of Real Estate portfolios. SSPF strives for a 100% participation rate among its Real Estate managers. SAMCo reports on the positioning of the SSPF Real Estate portfolio compared with the GRESB.

ヘッジファンド・デューデリジェンス質問​

責任投資原則のヘッジファンド・デューデリジェンス質問に回答したかどうか示してください。

ヘッジファンド

SSPF's approach to the incorporation of ESG considerations in the manager-selection process for Hedge Fund portfolios is broadly similar to the approach for Listed Equity portfolios (as described above).

その他 (1) [OO 05から抽出]

SSPF's approach to the incorporation of ESG considerations in the manager-selection process for investments outside the traditional alternative strategies is broadly similar to the approach for Listed Equity portfolios (as described above).

17.2. 補足情報 [任意]

N/A


Top