€28bn Dutch Corporate Pension Fund Awards Integral ESG Mandate

The €28bn Dutch pension fund for employees of ING Bank and NN Group has appointed Robeco to help it implement its sustainable investment policy, it said today.

According to a statement, Robeco will advise Pensioenfonds ING on environmental, social and corporate governance (ESG) issues, for example in the field of policy, legislation and regulations.

Robeco will also carry out voting and engagement activities for the pension fund and, in collaboration with Corestone, provide ESG screening and reporting activities on the total portfolio.

“In this way, ING underlines the importance it attaches to sustainability and takes the next step towards its long-term goal of ensuring a good pension for all participants,” the pension fund said.

A spokesperson for Pensioenfonds ING told IPE that Hermes EOS previously mandated for engagement and executing proxy voting. The pension fund selected Robeco “because it is well acquainted with the Dutch situation in the field of ESG and because of its advisory services”. 

Pensioenfonds ING is the now-closed pension fund in which current and former employees of ING Bank and NN Group accrued pension savings until 2014. It is a signatory of a Dutch pension fund industry agreement on responsible investment (IMVB). 

Wim van Iersel, executive director of the pension fund, said: “We want to give substance to the pension agreements that ING Bank and NN Group have placed with us for their current and former employees.

“In this context, sustainability is an important aspect that will only become more important in the future.”

André van den Heuvel, head of institutional clients for the Netherlands and Nordics at Robeco, said: “The combination of the various ESG facets makes this a unique collaboration and a good match.”