Responsible investment

Pensioenfonds Horeca & Catering firmly believes in sustainable and socially responsible investing. We take our responsibility as a long term investor. This means making a careful consideration between risk and return while also taking ESG-factors (Environment, Social and Governance) into account and contributing to a sustainable world.
 

Sustainable Development Goals

In 2015 a total of seventeen ‘Sustainable Development Goals’ or SDG’s were adopted by United Nations. These SDG’s have been developed to make the word a better place by 2030. We acknowledge the importance of all seventeen goals, but focus on two of them in our responsible investment policy: ‘responsible consumption and production’ and ‘climate action’. We believe these two goals to be essential to preserve a liveable world and both themes are close to the hearts of our customers: fund participants, pension beneficiaries and employers in the hospitality and catering industries.

 

Responsible Investment Policy Objectives

We have translated our view on responsible investment into three concrete objectives that we would like to achieve in the coming years. These objectives are:

  • reduce the carbon footprint of our total investment portfolio with 20% in 2020;
  • quadruple our investments with a positive sustainability contribution from 1% to 4% of total assets by 2023;
  • increase our influence on companies by working together with other investors.

 

Responsible Investment Instruments

In implementing our responsible investment policy we use different instrument in order to:

  • provide a positive contribution to responsible investment themes (stimulate);
  • encourage companies to improve their sustainability profile (improve);
  • exclude companies involved in activities we do not want to support (exclude).

 

Instrument 1. Positive Investing

We actively invest in companies that have a positive contribution to a sustainable world. We do so by investing in clean tech private equity: investments in private companies whose products and services reduce negative environmental impact or support a more efficient use of natural resources.

As of 2020 we also invest in a separate portfolio of Green Bonds. Companies and governments that issue Green Bonds use their proceeds to finance environmental friendly projects. For example in renewable energy or in projects that reduce pollution of contribute to sustainable water management. We invest 2,5% of our total investment portfolio in a dedicated portfolio of Green Bonds.


Instrument 2. ESG-integration

We expect that our external asset managers take ESG-criteria into account when making investment decisions. This means the integrate environmental, social and governance aspects into their investment process and explain us how they do so. We believe that this eventually leads to better investment outcomes.


Instrument 3. Voting and Engagement

We actively use our influence that comes with holding financial assets to achieve positive change. We actively vote at shareholder meetings and have drafted our own global voting guidelines. Twice every year we report on our voting decisions made and our voting behavior can be followed in detail.

Besides voting we actively engage with companies we invest in to achieve positive change. We have published our own engagement policy and report on our achievements twice every year. Also we have initiated a Dutch engagement initiative together with Pensioenfonds Detailhandel. Through this Dutch Engagement Network we engage with companies on specific Dutch sustainability themes.
 

Instrument 4. ESG-initiatives

To support our responsible investment policy we have joined different ESG-initiatives. We have joined the UNPRI and support initiatives like the IMVB-convenant, ‘Klimaatakkoord’ and the Montreal Pledge.


Instrument 5. Exclusion

We exclude companies involved in activities that do not fit the beliefs of employers and employees within the hospitality and catering sectors. We exclude companies that severely violate the UN Global Compact Principles. Ten principles formulated by the United Nations on Human Rights, Labour, Environment and Anti-Corruption. Also, we do not invest in companies involved in the production, sale or trade of controversial weapons (like cluster and nuclear weapons) and companies that derive revenue from producing tobacco. See list of excluded companies. Lastly we exclude government bonds from countries where certain EU or UN sanctions have been implemented against. See list of excluded countries.