Socially Responsible Investment Policy
Nedlloyd Pensionfund has integrated Socially Responsible Investment (SRI) into its investment policy.
In addition, account has been taken of the legal obligations and social developments laid down in, inter alia, the Code Tabaksblat (EN) [on corporate governance]. In 2006, the United Nations (UN) established the Principles for Responsible Investment (PRI) (UNPRI). Nedlloyd Pensionfund has decided to implement a policy in line with both guidelines.
Via its asset manager(s), Nedlloyd Pensionfund wishes to act as a responsible investor. This entails making active use of its right to speak and vote at shareholders’ meetings, as well as entering into a constructive dialogue (engagement) with companies in its portfolio. In particular, Nedlloyd Pensionfund has laid down a number of environmental, social and governance (ESG*) criteria which should be taken into account in the course of interacting with investee companies, with a view to encouraging better practices.
Annually (and if necessary more frequently) the asset manager(s) will establish a priority list of companies to be engaged with and also decide which subjects to include in this dialogue. This list will be compiled on the basis of a combination of top-down factors (macroeconomic risks in the field of the environment, society and corporate governance) and bottom-up factors (input from Nedlloyd Pensionfund, the possibility of exerting influence and the degree of financial exposure to specific companies). Nedlloyd Pensionfund’s Responsible Investment policy is based on the following aspects:
1. Screening by means of exclusion
2. Engagement
3. Voting at shareholders’ meetings
Below a short explanation has been given of each of these three aspects.
Screening
Nedlloyd Pensionfund is not to include screening in its Responsible Investment policy.
Engagement (active dialogue)
In order to operate as an active shareholder, Nedlloyd Pensionfund has instructed its asset manager(s) to engage in dialogue with the companies in its portfolios. Nedlloyd Pensionfund wishes to encourage the companies in which it invests to enhance their performance by improving their ways of working in the areas of the environment, society and corporate governance. Naturally the Principles for Responsible Investment (PRI) and the Code Tabaksblat form the basis for this active dialogue. Nedlloyd Pensionfund monitors the results of this engagement through receipt of regular engagement reports. On a quarterly basis, a report on the companies and subjects that have been the subject of engagement is received from the Nedlloyd Pensionfund’s engagement service provider, including a summary of engagement outcomes.
Voting at shareholders’ meetings
Globally and in a transparent manner the asset manager(s) exercises the Nedlloyd Pensionfund’s voting rights and, in doing so, they fulfil the guidelines of the Tabaksblat Code. Clear corporate governance guidelines have been established that guide the exercise of voting rights. These guidelines reflect global standards while also taking local customs into account. The aim is always the same: maintaining and improving shareholder value through transparent reporting and management and board accountability. Should a vote not be in accordance with the board’s recommendations, a letter will be sent to the company concerned explaining why. The Nedlloyd Pensionfund monitors the voting activities through receipt of a quarterly voting report from its service provider.
(* ESG= Evironment, Social and Government)
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English Summary 