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Robeco Sustainability Report 2019

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Robeco Sustainability Report 2019 From wealth to wealth and well-being Sustainability Report 2019 Message from our CEO Spearheading the sustainable investing movement Incorporating ESG factors in our investment processes is a different way of doing things: traditionally, investing was all about creating Sustainability has long been in our DNA. We launched our first alpha. But we also work to create well-being and have proven that sustainable investing product, Green Certificates, back in 1995. the two can go together. We firmly believe that ESG should be Today, our commitment to sustainability is stronger than ever. integrated into mainstream investing and are moving increasingly Environmental, social and governance (ESG) factors are now towards outcome and impact-oriented solutions. Our strong focus routinely integrated into our entire product range, putting us on research and intellectual property gives us the tools to provide at the forefront of taking such a ‘total sustainability’ approach. tailor-made sustainable investment solutions that meet modern- day investing needs. That is how we stand out from the crowd, and We do this because we believe integrating sustainability factors how we continue to differentiate ourselves as the world leader in into the investment process leads to better-informed investment sustainable investing. decisions and healthier long-term, risk-adjusted returns. We believe our responsibility extends beyond generating wealth to include Although this report reflects on 2019, you will find our vision on generating well-being. This is clearly reflected in our vision (see the unprecedented developments in the first quarter of 2020 in page 8 of this report). Prioritizing profit over issues such as climate the section ‘How the financial markets developed in 2019’. Next to change might lead to better returns in the short term, but the long- this, the report covers our investment and distribution activities, term prospects for such a strategy are less positive and increasingly and our own governance and business operations. It also serves less socially acceptable. as our official disclosure document for our commitment to the UN Global Compact, and gives insight into our contributions to the UN After introducing a joint vision and mission in 2018, Robeco and Sustainable Development Goals for 2030. RobecoSAM further strengthened their cooperation in 2019, and will continue to share their resources and collective ESG research Gilbert Van Hassel expertise to interpret ESG data for investment purposes. In addition, CEO and Chairman of Robeco’s Executive Committee we were honored to be awarded A+ for strategy and governance, along with five other modules as part of the UN-backed Principles for Responsible Investment 2019 report. Our total scores remain well above the industry median. We also published our sustainable palm oil policy, setting requirements for palm oil producing companies in our funds. Our ESG-integrated assets under management are now over EUR 151.3 billion. Meanwhile, our Active Ownership team’s analysts voted at a record 5,926 shareholders meetings and had 229 companies under engagement. 2 | Sustainability Report 2019 Contents 4 21 32 39 47 About us How our strategy works Our governance How we apply Appendices Who we are 5 for our clients Our ownership and legal status 33 sustainability in our own About this report 48 Our offices 6 Serving our clients 22 Business ethics 35 operations Measurement methods 49 Our key figures 7 Developing sustainability How we manage risk 36 Our people 40 Materiality assessment 50 What we believe in 8 solutions for clients 23 How we meet our tax How we give back to the List of material topics and How we work 9 Contributing to the Sustainable obligations 38 communities where we have definitions 51 Our strategy 2017-2021 10 Development Goals 25 a presence 44 Our leadership 52 Our brands and products 11 Active ownership 26 How we integrate sustainability Climate-related financial How we create value 12 How we support sustainability in procurement and limit our disclosure 55 How we constantly innovate 14 initiatives 29 environmental footprint 45 Glossary 60 Materiality analysis 15 How we share our knowledge GRI Table 62 How the financial markets on sustainable investing 30 Association memberships developed in 2019 17 Investment performance and participation in external How our industry developed overview 31 initiatives 63 in 2019 19 Global Compact Communication Our financial results 20 on Progress (COP) 64 Contact 65 Important information 65 3 | Sustainability Report 2019 ABOUT US In this section, we give a short overview of our history, our strategic starting points, and how we create value. We also include an overview of our locations around the world, our key figures and developments in our industry, and several examples of how we continuously innovate. 4 | Sustainability Report 2019 ABOUT US WHO WE ARE Robeco is a pure-play international asset manager using a unique RobecoSAM was founded in Zurich in 1995 as Sustainable Asset combination of fundamental, sustainable and quantitative research. Management (SAM), an investment specialist focused exclusively on We offer our clients an extensive selection of active investment sustainable investing. It offers asset management, impact analysis strategies covering a broad range of asset classes built around our and investing and sustainability assessments, as well as Country key strengths of quantitative and sustainable investing, credits, Sustainability Rankings and benchmarking. SAM was acquired by emerging markets and trends and thematic investments. We serve Robeco in 2007 and rebranded as RobecoSAM. Our collaboration three types of clients around the world: was further strengthened in 2019 in order to fully unlock our potential and to maintain our leading position in sustainable 1. Institutional investors such as pension plan sponsors and investing. pension-related insurance companies, and official institutions such as sovereign wealth funds and central banks. Both Robeco and RobecoSAM are fully owned by ORIX Corporation 2. Wholesale clients such as global financial institutions and large Europe N.V. (‘ORIX Europe’), a subsidiary of ORIX Corporation, private wealth managers. a Japanese business conglomerate that started operating in 3. Dutch private investors (our ‘retail’ business). 1964. The other main operating subsidiaries are Boston Partners, Transtrend, Harbor Capital Advisors and Canara Robeco. There is As the ‘Investment Engineers’, we have applied our ‘pioneering much crossover between these companies: each one draws from but cautious’ approach ever since our foundation in 1929. Robeco the expertise of the others, cooperating and combining strengths was one of the first asset managers to invest in emerging markets, within ORIX Europe. to take sustainable investing seriously, and to adopt quantitative investing, all using advanced research techniques. Research lies at the heart of everything we do: we believe that every investment strategy should be research-driven, drawing fully on investment managers, researchers, analysts and specialists to find the best ideas. Integrating sustainable investing is our standard practice. Our operating style as a pure-play asset manager, using an active investment approach to achieve continuous outperformance, is still our forte today. 5 | Sustainability Report 2019 ABOUT US OUR OFFICES 17 Europe Middle East OFFICES IN Rotterdam Rotterdam Luxembourg Madrid Dubai Robeco Headquarters Robeco Luxembourg Robeco Spain Robeco Middle East Asset management Asset management Client relations Client relations 15 & Client relations & Client relations COUNTRIES Milan Luxembourg London Frankfurt Robeco Italy around Frankfurt Robeco UK Robeco Germany Client relations the world London Investment research Client relations Asia Pacic Zürich & Client relations Zürich Paris RobecoSAM Headquarters Hong Kong Paris Milan Robeco France Asset management Robeco Asia Pacic North America Client relations & Client relations Asset management & Client relations Miami US Oshore & Latam Tokyo Client relations Robeco Japan Madrid Client relations New York Robeco US Shanghai Investment research Robeco China & Client relations Asset management & Client relations Boston Boston Partners Boston Singapore Asset management New York Robeco Singapore & Client relations Tokyo Investment research Shanghai & Client relations Miami Dubai Hong Kong Mumbai Sydney Robeco Australia Singapore Client relations Melbourne Robeco Australia Client relations Mumbai Sydney Canara Robeco Melbourne Asset management & Client relations Asset management & Client relations Client relations Ailiated Robeco investment adviser Investment research & Client relations 6 | Sustainability Report 2019 ABOUT US OUR KEY FIGURES EUR173.5 BILLION EUR151.3 BILLION EUR316 BILLION 5,926 229 assets under management managed in ESG-integrated assets under engagement shareholder meetings companies engaged (AuM) assets voted Our long commitment and innovation in sustainability Robeco World’s first Sustainable Private Collaboration Launch Equity FoF Voting & ESG Robeco signs Robeco and Robeco and Clean Tech Engagement Among the integration Highest scores Dutch SDG RobecoSAM Founding Sustainable Private service first to sign in all in all UN PRI investing further of Robeco Equity fund Equity FoF initiated the UN PRI capabilities categories agenda strengthened 1929 1995 1999 2001 2004 2005 2006 2007 2010 2013 2014 2015 2016 2017 2018 2019 Founding of Cooperation One of the Among the RobecoSAM
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