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Active Ownership Report Q4 2016

Active Ownership Report Q4 2016

31-12-2016 | Active Ownership Report

Please read the details of Robeco's active ownership report of Q4 2016.

  • Carola van Lamoen
    Carola
    van Lamoen
    Head of Active Ownership

Voting in Q4 2016

Engagement in Q4 2016

Social

ESG challenges in the healthcare sector

Biopharmaceutical companies operate in an environment of rising chronic disease, aging populations and an increasing demand from emerging markets. From an investor's point of view, a company's capacity to focus in long term value creation through investing in improving the access to medicine in low- and middle-income countries is a key factor for positively contribute to the development of emerging markets.

Environmental

Carbon management in Real Estate Investment Trusts

Buildings represent a major opportunity for environmental improvements as the sector as a whole accounted for nearly 40% of the world’s energy consumption, 30% of raw material use, 25% of solid waste, 25% of water use, 12% of land use, and 33% of the related global greenhouse gas emissions. Because the real estate sector represents such a large share of annual global emissions of CO2 and other greenhouse gasses, we have, over the last 3 years, focused on Real Estate Investment Trusts (REITS).

Governance

The road to shareholder value in the land of the rising sun

During the last quarter of 2015, Robeco conducted an extensive research to prepare for an engagement program with Japanese companies to enhance their corporate governance. Over recent years the Japanese government under leadership of Shinzo Abe has implemented several policies to strengthen the Japanese economy. One of the aims of the government has been boosting the Japanese stock market by making Japanese equities more appealing to international institutional investors. Return on equity for Japanese companies has been relatively low compared to their US and European counterparts.

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Disclaimer

BY CLICKING ON “I AGREE”, I DECLARE I AM A WHOLESALE CLIENT AS DEFINED IN THE CORPORATIONS ACT 2001.

What is a Wholesale Client?
A person or entity is a “wholesale client” if they satisfy the requirements of section 761G of the Corporations Act.
This commonly includes a person or entity:

  • who holds an Australian Financial Services License
  • who has or controls at least $10 million (and may include funds held by an associate or under a trust that the person manages)
  • that is a body regulated by APRA other than a trustee of:
    (i) a superannuation fund;
    (ii) an approved deposit fund;
    (iii) a pooled superannuation trust; or
    (iv) a public sector superannuation scheme.
    within the meaning of the Superannuation Industry (Supervision) Act 1993
  • that is a body registered under the Financial Corporations Act 1974.
  • that is a trustee of:
    (i) a superannuation fund; or
    (ii) an approved deposit fund; or
    (iii) a pooled superannuation trust; or
    (iv) a public sector superannuation scheme
    within the meaning of the Superannuation Industry (Supervision) Act 1993 and the fund, trust or scheme has net assets of at least $10 million.
  • that is a listed entity or a related body corporate of a listed entity
  • that is an exempt public authority
  • that is a body corporate, or an unincorporated body, that:
    (i) carries on a business of investment in financial products, interests in land or other investments; and
    (ii) for those purposes, invests funds received (directly or indirectly) following an offer or invitation to the public, within the meaning of section 82 of the Corporations Act 2001, the terms of which provided for the funds subscribed to be invested for those purposes.
  • that is a foreign entity which, if established or incorporated in Australia, would be covered by one of the preceding paragraphs.
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