SPF considers sustainability to be a major aspect of the investment philosophy and an integral component of its investment principles. SPF is convinced that the sustainability policy is a way of contributing to sustainable development in the world without necessarily putting pressure on the portfolio’s risk and return profile.
The following six pillars are key in the SPF sustainability policy:
In signing the broad track of the IRBC Agreement in December 2018, SPF endorses the OESO guidelines for multi-national companies and the UN Guiding Principles on Business and Human Rights. In committing to these guidelines and principles, SPF aims to focus on specific societal developments that are important for its members and have been identified as high risk for its investment portfolio. Against this background, SPF aims to work particularly on the sustainability theme of climate change.
Where possible, SPF manages and evaluates investments according to ESG factors. ESG stands for Environment, Social, and Governance.
SPF encourages companies to effect positive developments in the field of social issues and sustainability. Broader engagement processes are also being initiated to appeal to entire sectors.
SPF monitors all Dutch listed real estate and other companies in which it invests via its voting policy.
We exclude activities in companies and countries that the United Nations, the European Union, or the Dutch government deem unacceptable. The fund therefore does not invest in companies that fail to act in accordance with the 10 principles of the United Nations Global Compact. Producers of controversial weapons such as nuclear weapons, biological weapons, chemical weapons, depleted uranium munitions, and white phosphorus munitions that do not fall under the exclusion criteria of the Global Compact (such as cluster munitions) are also excluded. Based on the above criteria, not only shares are excluded but also corporate and state bonds of countries that are sanctioned by the United Nations or the European Union. For the most part, these sanctions relate to human rights and weapons issues.
SPF publishes an annual report to ensure transparency about the sustainability policy and its implementation. In this report, SPF indicates how it handled sustainability in that year and which results it has achieved with respect to sustainability. In the context of transparency about where SPF invests, SPF publishes an annual overview of the total investment portfolio on its website. SPF will also provide a Vote Summary Report of shareholder meetings on its website. To conclude, the SPF Newsletter and the website regularly feature items on the SPF sustainability policy.
The Board further developed the fund’s sustainability policy in 2021. As well as discussing the ambition with respect to climate-proof investments, various decisions were taken in 2021, partly in the context of legislation and regulations (including SFDR legislation). The fund’s sustainability policy will again be prominent on the agenda of the Board in 2022. A summary of the Board’s sustainability policy decisions in 2021 was included in section 4.3 of the annual report as well as the survey questions that will be placed on the Board agenda in 2022.
Please consult SPF's website under downloads for the complete sustainability policy (PDF).