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Stichting Shell Pensioenfonds

PRI reporting framework 2020

You are in Organisational Overview » Asset class implementation gateway indicators

Asset class implementation gateway indicators

OO 10. Active ownership practices for listed assets

10.1. Select the active ownership activities your organisation implemented in the reporting year.

Listed equity – engagement

Listed equity – voting

Fixed income SSA – engagement

Please explain why you do not engage directly and do not require external managers to engage with companies on ESG factors.

          Our engagement activities are focused on the companies in the listed equity and corporate credit portfolios. Feasibility and services available with regard to SSA bond issuer engagement are deemed insufficient.
        

Fixed income Corporate (financial) – engagement

Fixed income Corporate (non-financial) – engagement

Fixed income Corporate (securitised) – engagement

Please explain why you do not engage directly and do not require external managers to engage with companies on ESG factors.

          Our engagement activities are focused on the companies in the listed equity and corporate credit portfolios. Feasibility and services available with regard to engagement on securitised fixed income products are deemed insufficient.
        

OO 11. ESG incorporation practices for all assets

11.1. Select the internally managed asset classes in which you addressed ESG incorporation into your investment decisions and/or your active ownership practices (during the reporting year).

Listed equity

Fixed income - SSA

Fixed income - corporate (financial)

Fixed income - corporate (non-financial)

Fixed income - securitised

Select the externally managed assets classes in which you and/or your investment consultants address ESG incorporation in your external manager selection, appointment and/or monitoring processes.
Asset class
ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes
Listed equity

Listed equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - SSA

Fixed income - SSA - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Fixed income - corporate (non-financial)

Fixed income - corporate (non-financial) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Private equity

Private equity - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Property

Property - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Hedge funds

Hedge funds - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

Other (1)

Other (1) - ESG incorporation addressed in your external manager selection, appointment and/or monitoring processes

11.4. Provide a brief description of how your organisation includes responsible investment considerations in your investment manager selection, appointment and monitoring processes.

ESG considerations are taken into account in the manager-selection process. Managers contending for a mandate are required to fill out a request for proposal (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, emphasis is put 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 principles 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.


OO 12. Modules and sections required to complete

12.1. Below are all applicable modules or sections you may report on. Those which are mandatory to report (asset classes representing 10% or more of your AUM) are already ticked and read-only. Those which are voluntary to report on can be opted into by ticking the box.

Core modules

RI implementation directly or via service providers

Direct - Listed Equity incorporation

Direct - Listed Equity active ownership

Direct - Fixed Income

RI implementation via external managers

Indirect - Selection, Appointment and Monitoring of External Managers

Closing module

12.2. Additional information. [Optional]


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