Modern slavery statement

This statement is made in accordance with section 54 of the UK Modern Slavery Act 2015 (the “Act”) by Robeco Institutional Asset Management B.V. (“Robeco” or “we”) acting through its UK branch. This constitutes our modern slavery statement for the financial year ended 31 December 2016. 

Modern slavery takes many forms and references to modern slavery in this statement mean slavery, servitude, forced and/or compulsory labour and human trafficking.

Our business

Robeco is an international asset manager offering an extensive range of active investments. We have €148 billion of assets under management (March 2017) and employ over 850 people in 16 different offices worldwide. 
 
In the UK Robeco markets and sells UK-registered and/or authorised funds. In addition, it provides investment advice and receives and transmits orders in relation to financial investments. All these activities are carried out for professional investors only.

The Robeco Group structure

Robeco is a private limited liability company and a subsidiary of Robeco Holding B.V. which is itself a subsidiary of Robeco Groep N.V.. Robeco Groep N.V. is wholly owned by Tokyo based ORIX Corporation, a financial services group. 
 
Robeco has seven international office branches, of which one is in the UK.

Policy Framework

We support the aims of the Act and are committed to operating free from modern slavery. We take a proportionate, risk-based approach to modern slavery and do not tolerate any form of modern slavery, in any part of our business and/or supply chain. 
 
We believe that the risk of modern slavery within our business and supply chains is relatively low. This is largely due to the sector we operate within (financial services), the large number of high-skilled individuals we employ and the nature of our supply chain.
 
Despite the perceived low risk, we believe that sustainable business practices are crucial to the success of a company and therefore we seek to manage carefully all forms of risk and the wider impact of our businesses and employees’ actions. We are committed to maintaining the highest level of ethical standards in the conduct of our business and within our supply chains and the actions of all our stakeholders and suppliers are key to maintaining our high standards and success.
 
Since 2014 we have participated in the United Nations Global Compact, a strategic initiative for business committed to aligning their strategies and operations with ten agreed principles. These principles cover areas such as human rights and labour, amongst others. By incorporating these principles into our policies and procedures we seek to uphold our basic responsibilities to all those within our business and supply chain. 
 
We have a Whistleblowing Policy designed to encourage the responsible reporting of violations of the Robeco Code of Conduct (the “Code”) and/or any other malpractice, and to protect the individual(s) reporting any such abuse. We have a Whistleblower Committee responsible for dealing with and settling reports made under our Whistleblower Policy.

Employees

All permanent and temporary employees are required to comply with the Code which promotes ethical conduct, accountability and transparency. Employees must do an e-learning training and pass a test on the Code. In addition, employees must confirm that they have received and read the Code. Failure to comply with the Code, any applicable laws, regulations or other internal rules may result in sanctions.

Supply Chain

It is important to us that our suppliers respect all applicable local laws and conduct themselves to a morally and ethically high standard.
 
As part of our corporate social responsibility commitment we have seven principles that detail what we expect from our suppliers and those within our suppliers’ own sphere of influence. We view our suppliers as long-term partners and we recognise the importance of fostering strong, collaborative relationships with them. In order to do this we require our suppliers to respect our seven principles which include matters relating to human rights and labour.
 
We expect our suppliers to support and respect the protection of human rights, as laid out in the United Nation’s Universal Declaration of Human Rights. Our suppliers must not be complicit in any human rights abuses and we require that their own supply chains are ethically managed. We are clear with our suppliers that all forms of modern slavery must be eliminated and will not be tolerated.
 
This statement has been approved with the authority of the Board of Robeco Institutional Asset Management B.V. and is signed on its behalf by: 
 
Robert Slange
Chief Compliance Officer, Robeco Institutional Asset Management B.V.
 
Date: 23 June 2017