Since 1 January 2012, the Sustainable Investment Code applies. With this code, the Dutch Association of Insurers wants to stimulate sustainable investment with insurers.
The code in brief
The code is in line with existing international principles: the United Nations Principles for Responsible Investment (PRI) and the UN Global Compact. The PRI are principles about environmental, social and governance aspects. Companies must include these aspects in the policy and in the decisions on investing. The UN Global Compact consists of ten principles in the field of human rights, labor rights, the environment and anti-corruption. There is a separate article in the Code that prohibits investing in weapons.
Comply or Explain
For insurers applies: comply or explain. If an insurer can not or does not want to comply with the code, he has to explain this. The code applies to all asset classes, but only to assets that the insurer itself manages. For externally managed assets, and assets managed for third parties, insurers are obliged to encourage asset managers to invest responsibly.
For VIVAT, the greater part (more than 95%) of the assets invested is managed by ACTIAM, or is invested externally by ACTIAM. ACTIAM is a member of the PRI and its responsible investment policy is fully in line with the UN Global Compact and therefore also with the Sustainable Investment Code of the Dutch Association of Insurers. The remaining part does not meet the stated principles. This involves less than 5% of the assets invested by VIVAT, which is not managed by asset manager ACTIAM.