The Zwitserleven Feeling is inextricably linked to a beautiful world. We all want to have enough income to live on later, but in a world that is worth living in. Zwitserleven believes that the financial sector should take a leading role in achieving this.
We are pleased to tell you more about our sustainable investment policy for your pension scheme. This information is in line with the European rules on sustainability disclosures in the financial sector. The information below applies to Zwitserleven PPI N.V. as a user of the Zwitserleven brand and trade name. Information on SRLEV N.V. as a user of the Zwitserleven and Reaal brands and trade names is available here.
Action Plan for Financing Sustainable Growth
The European Commission (EC) presented the Europese Green Deal in December 2019. This is a series of policy initiatives aimed at making Europe climate neutral by 2050. The EC drafted an Action Plan for Financing Sustainable Growth.
This action plan consists of a large number of rules and regulations applying to most financial institutions. The European rules on sustainability disclosures in the financial sector are part of this action plan.
As we are a financial services provider, these rules also apply to us. We will therefore provide information on the following topics:
- What is our approach to sustainability risks?
- How are sustainability risks integrated into our remuneration policy?
- How do we deal with the principal adverse impacts?
What is our approach to sustainability risks?
We are happy to tell you more about how sustainability risks are factored in to (are integrated into) our investment decisions. Sustainability risk is an Enviornmental, Social and Governance (ESG) event or circumstance that may have an adverse impact on the value of plan assets.
The principal risks in environmental terms are the following:
- Physical risks for companies, institutions and public authorities due to climate change
- Transition risks, related to the transition to a CO2 (carbon dioxide) neutral economy
- Liability risks, for claims for damages suffered due to climate change
In our pension schemes, which invest defined contributions for the account and risk of participants to accrue a pension (defined contribution schemes), employers choose which investment products to make available to participants. For this type of pension schemes, investments are made in investment funds. These are usually Zwitserleven funds, which are managed by Cardano Asset Management, but there are also funds that have a different fund manager. With some schemes that offer the VrijBeleggen (‘Self-Directed Investing’) investment form, participants can make choices of their own and are responsible for these choices. The fund manager of the selected funds decides on their approach to sustainability risks.
Sustainability risks at Cardano Asset Management-managed Zwitserleven funds
Cardano Asset Management assesses whether the value of the Zwitserleven funds is adversely affected by the sustainability risks associated with the companies or institutions in which those funds invest. For example if those companies or institutions are irresponsible or careless when it comes to sustainability aspects. Cardano Asset Management measures sustainability risks based on data from independent data providers and climate risk related Value at Risk data. Aside from sustainability risks related to individual companies or sectors, Cardano Asset Management also considers sustainability risks that may be tied to specific countries or regions, such as growing exposure to natural disasters (including as a result of climate change) or civil unrest.
Cardano Asset Management applies a number of instruments in that regard:
- Screening of companies
- Engagement
- Exclusion from investment based on Cardano Asset Management's general exclusion criteria
More detailed information is available in the prospectuses of Zwitserleven Investment Funds and Zwitserleven Institutional Investment Funds. Chapter 8.6 provides more general information on sustainability risks and Chapter 11 provides fund-specific information and information on the potential impact on returns.
Sustainability risks in the selection of investment funds
Some pension schemes offer VrijBeleggen (‘Self-Directed Investing’). This investment form allows participants to choose from a variety of investment funds. The fund manager decides how much weight to assign to sustainability risks. For the Zwitserleven funds, Cardano Asset Management integrates sustainability risks into its investment decisions in the same way as outlined above. How ASN Impact Investors (ASN funds) and BlackRock (iShares) deal with these risks for the investment funds managed by them is explained in the prospectuses of these investment funds, available on the ASN and BlackRock websites.
Remuneration policy and the integration of sustainability risks
Zwitserleven PPI is part of Athora Netherlands N.V. Athora Netherlands N.V.’s group remuneration policy also applies to Zwitserleven PPI. This group remuneration policy also explains in what respects the policy is consistent with the organisation’s policy on sustainability risks.
PAI Statement
Aside from sustainability risks, we also have to deal with the adverse impacts of our investment decisions on sustainability factors. You can read more about this in our Principal Adverse Impacts (PAI) Statement. This statement is published every year on 30 June.
This website text was published on 30 June 2023 and has not been updated since.