Responsible investment

The aim of our investment policy is to safeguard the pensions and achieve an adequate return. This will ensure we can continue to pay our pensions and raise them in line with inflation. Responsible investment contributes to this, and is therefore part of our investment policy. Responsible investment means that we take financial, environmental and social aspects and criteria for good governance into consideration in our investments.

How do we invest responsibly?

This is what we do to ensure we invest as responsibly as we can.

1. Voting at general meetings

We vote at the general meetings of companies in which we hold shares. This enables us to exercise influence over their management. We do not cast votes ourselves. This is done for us by a specialist company. For details of how we have voted, see our quarterly reports.

2. Excluded investments

We do not invest in companies that carry on activities which are against the law or which we believe are unacceptable. These include:

  • child labour

  • human rights violations

  • corruption

  • tobacco

  • the manufacturing of controversial weapons (chemical and biological weapons, cluster bombs and anti-personnel mines).

Moreover, we do not invest in companies based in countries that are included in the EU and UN sanction lists.

3. Engagement policy

Engagement means that we enter into a dialogue on sustainability with the companies in which we invest. We call these companies to account for environmental, social and governance matters. As part of this, we work with a specialist company that conducts talks on behalf of several shareholders.

4. ESG integration

The pension fund applies ESG integration in the equity portfolios. This means environmental, social and governance (ESG) factors are included in investment analysis and decisions relating to those portfolios. Energy consumption, the climate, health, safety and good governance are taken into consideration when selecting and managing stakes in specific companies.

5. Measuring carbon footprints

Carbon dioxide is one of the main greenhouse gases responsible for global warming. We measure the carbon emissions of the companies in which we hold shares. This is also referred to as their carbon footprint. Our Board then decides how much these companies must reduce their carbon footprint. Our current agreement is that the carbon emissions of our portfolio need to be halved.

More information?

For more information on responsible investment, please see the Responsible Investment Policy Plan. The companies we have excluded from our equity portfolio can be found in the exclusion list.