The pension fund promotes environmental or social characteristics, and although we do not have a sustainable investment objective, we do pursue a minimum percentage (3%) of sustainable investments. These sustainable investments have an environmental objective, but do not always qualify as environmentally sustainable under the EU Taxonomy Regulation.

We promote environmental and social characteristics through our socially responsible investment policy, SRI policy (pdf, in Dutch), which focuses on the following themes:
• Corporate behavior and governance
• Sustainable production and consumption
• Climate change

The fulfillment of these themes is achieved through the use of the following SRI tools:
1. Exclusion policy.
2. ESG integration by preferably selecting SFDR 8 or 9 investment funds.
3. Selecting asset managers that implement an active shareholder policy, through voting and engagement, focused on ‘good governance’.
4. ESG integration by focusing on e.
5. Allocation to green bonds

The pension fund invests exclusively via investment funds and thus, can only implement the SRI policy and environmental & social characteristics it promotes based on the selection and monitoring policy. A detailed description of our Responsible Investment policy can be found in the SRI policy (pdf).

The pension fund does not have a sustainable investment objective as defined in Article 2 (17) of the Sustainable Finance Disclosure Regulation (SFDR). Further, the pension scheme does not have a reference benchmark as referred to in the SFDR.

Environmental and social characteristics are promoted in 97.5% of the investments. The remaining investments (2.5%) consist of (government) bonds from emerging countries.

We monitor the following portfolio characteristics:
1. Violations of the principles of the UN Global Compact or the Organization for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises (PAI 10).
2. Exposure to controversial weapons (anti personnel mines, cluster munitions, chemical weapons and biological weapons) (PAI 14).
3. Countries with investments that violate social rights (PAI 16).
4. Greenhouse gas intensity of companies in which investments are made (PAI 3).

Monitoring is conducted by the fiduciary manager. Each year, a list of excluded companies and countries is made based on our exclusion policy. Based on this list, the (indirect) investments of the pension fund are reviewed.

In addition, our fiduciary manager provides a quarterly report on the average greenhouse gas intensity of the companies in which we invest. For the allocation of developed market equities, we aim to reduce greenhouse gas intensity in alignment with the agreements of the Pairs Climate Agreement.

The fiduciary manager uses Sustainalytics in order to compile the exclusion lists. Since we invest exclusively through funds, there may still be underlying investments in countries or companies on our exclusion list. However, this is expected to result in limited exposure at a total portfolio level. Greenhouse gas intensity information is not available for all companies in the portfolio. We expect the availability of data to improve over time, driven by developments in legislation.

The data restrictions are not expected to affect the achievement of the environmental and social characteristics promoted by the pension fund.

We conduct an annual due diligence review, which assess the companies in the investment portfolio in accordance with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights. The results of the due diligence investigation are discussed and reviewed by the board.

The pension fund does not have an engagement policy as it invests exclusively through investment funds and the managers of these funds implement their own engagement policies.

The pension fund promotes environmental or social characteristics, and although we do not have a sustainable investment objective,  we do pursue a minimum percentage (3%) of sustainable investments. These sustainable investments have an environmental objective, but do not always qualify as environmentally sustainable under the EU Taxonomy Regulation.

We promote environmental and social characteristics through our socially responsible investment policy, SRI policy (pdf, in Dutch), which focuses on the following themes:
• Corporate behavior and governance
• Sustainable production and consumption
• Climate change

The fulfillment of these themes is achieved through the use of the following SRI tools:
1. Exclusion policy.
2. ESG integration by preferably selecting SFDR 8 or 9 investment funds.
3. Selecting asset managers that implement an active shareholder policy, through voting and engagement, focused on ‘good governance’.
4. ESG integration by focusing on e.
5. Allocation to green bonds.

The pension fund does not have a sustainable investment objective as defined in Article 2 (17) of the Sustainable Finance Disclosure Regulation (SFDR). Further, the pension scheme does not have a reference benchmark as referred to in the SFDR.

Environmental and social characteristics are promoted in 97.5% of the investments. The remaining investments (2.5%) consist of (government) bonds from emerging countries.

We monitor the following portfolio characteristics:
1. Violations of the principles of the UN Global Compact or the Organization for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises (PAI 10).
2. Exposure to controversial weapons (anti personnel mines, cluster munitions, chemical weapons and biological weapons) (PAI 14).
3. Countries with investments that violate social rights (PAI 16).
4. Greenhouse gas intensity of companies in which investments are made (PAI 3).

Monitoring is conducted by the fiduciary manager. Each year, a list of excluded companies and countries is made based on our exclusion policy. Based on this list, the (indirect) investments of the pension fund are reviewed.

Our fiduciary manager provides a quarterly report on the average greenhouse gas intensity of the companies in which we invest. For the allocation of developed market equities, we aim to reduce greenhouse gas intensity in alignment with the agreements of the Pairs Climate Agreement.

The fiduciary manager uses Sustainalytics in order to compile the exclusion lists. Since we invest exclusively through funds, there may still be underlying investments in countries or companies on our exclusion list. However, this is expected to result in limited exposure at a total portfolio level. Greenhouse gas intensity information is not available for all companies in the portfolio. We expect the availability of data to improve over time, driven by developments in legislation.

The data restrictions are not expected to affect the achievement of the environmental and social characteristics promoted by the pension fund.

We conduct an annual due diligence review, which assess the companies in the investment portfolio in accordance with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights. The results of the due diligence investigation are discussed and reviewed by the board.

The pension fund does not have an engagement policy as it invests exclusively through investment funds and the managers of these funds implement their own engagement policies.

The pension scheme as a whole does not have a reference benchmark as referred to in SFDR.