Good governance

Good governance

Claiming your practices are sustainable and your practices actually being sustainable are two entirely different things. We believe that good governance can make all the difference. And so, we look at companies’ core values. At effectiveness, integrity, democracy, transparency, accountability. How do the board and supervisory body handle that? Read all about it here.

Theme
Sustainability
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5 Publications

Annette Mosman appointed chief executive officer of APG

Published on: 15 February 2021

Annette Mosman has been appointed chief executive officer of APG Groep as of March 1st, 2021. She succeeds Gerard van Olphen who is stepping down on April 1st of this year. Annette has already been a member of the board of directors of APG as CFRO since February 2018. By appointing Annette, APG has a female chief executive officer for the first time in history.

Pieter Jongstra, chairman of the supervisory board, is pleased with the appointment of Annette:

“For the pension sector in The Netherlands, the expected New Pension Contract marks an important and challenging period and its implementation will be demanding for pension providers such as APG. I am pleased that Annette, as very experienced leader, will be at the helm during this period. We wish her every success in her new role.”

 

 

A word of thanks also goes to Gerard:

“APG as well as the Supervisory Board are deeply grateful to Gerard van Olphen. Gerard led an intensive process from the start of his appointment, in which he stood at the cradle of setting a clear strategy for APG and in which the interests of the participants were made a priority.  He helped shape the new strategy, which will enable the Executive Board and the entire APG team to continue on the same path. We wish him and his family all the best for the future.”

 

 

As of March 1, 2021, the APG Executive Board will be composed as follows:

Annette Mosman (Chairman)

Ronald Wuijster (CEO Asset Management)

Francine van Dierendonck (Chair DWS, Chair Pension Administration ad interim)

vacancy (Chief Finance and Risk Officer)

 

 

Curious about Annette and the plans she has in her new position? Watch this video 

 

Volgende publicatie:
'I don't doubt for a second what I'm asking of companies'

'I don't doubt for a second what I'm asking of companies'

Published on: 10 July 2020

With a background in student activism and investment banking, Yoo-Kyung (YK) Park is driven to change corporate Asia for the better. She’s been at it for eleven years, and is by no means less committed. Are there differences between Asia and other continents when it comes to engaging with companies about their behavior? ‘There is a big difference between the various countries in Asia. There are developed countries, such as Japan, Singapore and Hong Kong, and developing countries, which include China, India and South Korea. What they all have in common, though, is that their ESG standards are still under development.’

An interview with Yoo-Kyung Park, Head of Responsible Investment & Governance Asia-Pacific at APG

 

‘Some practices that we take for granted in Europe, are not so common in Asia. In Europe, for example, if you want to engage with a company, you can talk to senior management or even board members and you tend to get the information you need. To get this type of access in Asia, you need to invest a lot of time and effort to build trust. Only after several years will board members open to you. I have been engaging with Samsung Electronics on various corporate governance issues for eleven years. Although the company has made positive changes, I am still not done talking to them.’

 

How receptive are Asian companies to what you ask of them?
‘It depends on what you’re asking. If you want a company to improve its reporting, you can talk to the Investor Relations department, and there’s a good chance they will respond to your request. But if you want a company to change its corporate culture, or deal with bribery and corruption, it’s not that straightforward, especially if our holding in the company is relatively small. In such cases it’s not easy to get access. So you have to be resourceful and come up with other ways to gain influence. I then seek cooperation with other parties, such as politicians, diplomates, NGOs, or the media.’

 

How do you find a way to deal with more sensitive topics, such as human rights?
‘That also depends on the country. In Japan, you can talk about human rights, but in China you need to come up with less direct ways to address this. You have to make the topic about, for example, employees’ health & safety, or working conditions for migrant workers. You need to make it specific. And you always link it to the impact it can have on a company’s business. When I talked to Korean shipbuilders about fatal accidents in their operations, and did not get a satisfactory response, I alerted their clients, the large ship buyers, to this issue. They were concerned about safe working conditions and called on the shipbuilders to improve them. Several oil companies have now paid more attention to the safety standard for Korean shipbuilders.’

 

I want change. I don’t just want to keep talking for the sake of talking.

Is the fact that you are a woman an impediment in some countries?
‘It was and still is. There are some very conservative countries. For example, when I organize a meeting with executives or policy makers in countries like Japan and South Korea, all the others in the room are men. I am not expected to ask questions in such an environment. I find that I have to push harder and make a bigger effort to get my message across. But I don’t mind. It’s my message that’s important.’

 

You have been in this job for over a decade. What keeps you going?
‘I want change. I don’t just want to keep talking for the sake of talking. I see hope for Asia. The culture and mindset of board members are changing and we have managed to make concrete changes for the better. What gives me courage is that I know I always have the backing of APG and its pension fund clients. I know that they are genuinely committed to change. As a result, I have zero doubt in what I ask from companies.’

On behalf of APG as a global pension investor, Yoo-Kyung Park engages with companies on environmental, social and governance issues to push for improvement. You can read more about this in our Responsible Investment Report for 2019.

 

 

Volgende publicatie:
APG signs the Diversity Charter

APG signs the Diversity Charter

Published on: 7 December 2016

On 6 December a new group of employers in the private and public sectors put their signature to the Diversity Charter. Eighty companies are now committed to an increase in diversity and an inclusive business environment. By signing the Diversity Charter, these companies and organizations undertake to make specific efforts towards an effective diversity policy. Renate Litjens, director of Group Human Resources, signed on behalf of APG.

 

The new signatories are: Accenture, Alliander, APG, De Brandweerkorpsen Amsterdam - Amstelland, Haaglanden, Kennemerland and IJsselland, Hotel Casa Amsterdam, Deloitte, Fruitful Office, Instituut Fysieke Veiligheid, ManpowerGroup Nederland, Microsoft Nederland, MKB Amsterdam and UWV. The day’s chair Harry van de Kraats, general director of the employers' association AWVN, stated that the signatories are bound by a belief in diversity. It is in the interests of the organization to take advantage of this: diversity is a business case.

 

A more balanced composition of employees at all levels, respect, tolerance and fair chances are characteristics of an inclusive company culture. This is the responsibility of employers and employees. The Labour Foundation (STAR), the consultative body of the central organizations of employers and employees, has taken the initiative on 'Diversity in Business' and thus the Diversity Charter. The Council for Public Sector Personnel Policy (ROP) is also involved in this initiative. The Ministry of Social Affairs and Employment (SZW) supports the implementation. There are currently Diversity Charters in effect in fifteen European countries, which have been signed by more than 7,000 companies and organizations.

 

APG’s goals

The Charter includes the goals of the company/organization. APG's goal is that it wants its workforce to reflect the composition of the participant population of pension funds for which it works to a greater extent. Over the years, the composition of the participant population that APG administers on behalf of the pension funds has changed. Because participants are compulsorily affiliated with their pension fund, APG feels an additional obligation to align its workforce in the same direction.

Volgende publicatie:
The times they are a-Changin

The times they are a-Changin

Published on: 2 October 2016

Ethics and integrity was the topic of conversation on September 1 this year at the meeting of the professional associations of investment professionals VBA and CFA. Is a nice mix of ethics and integrity solution for Times are a-changin ', internet, big data, and trust?

 

Finance part of society

Minister Jeroen Dijsselbloem, Gerard van Olphen, chairman of the APG board, Fieke van der Lecq, Professor of Pension Markets at the VU and Jacob Kohnstamm, former president of the Personal Authority, spoke about their vision and challenges. Fintech experts Don Ginsel Maurice Olijve and Berend de Jong explained how FinTech a blessing or curse can be for consumers. To restore confidence, the financial sector needs to feel part of society. Taking care of other people's money charges a big responsibility with it.

 

Stop "the drivel about trust

For professionals in the sector, it can sometimes be frustrating that confidence remains low. Just as it seems to get better, new facts throw a spanner in the works. With new rules if it turns out as a result. Specific van der Lecq called to stop with 'drivel about trust; "Be extra careful if you only earn money with money." The challenge in a rapidly changing environment is to think about your own value. What does a consumer or business-specific products and services? These contribute to the operating or the realization of goals of the client? What do businesses and consumers of the sector? Therefore it is necessary to have intensive discussions with the customer. A statement such as 'customer-centric' professed by all operators in the sector. But we know the customer really? 

 

Otherwise acting trust

The FinTech experts gave an insight into the latest developments at the cutting edge of technological innovation and the financial sector. The Netherlands also now has hundreds of startups that focus much more than traditional financials on things that really wants consumers. Confidence appears suddenly to work very differently. New businesses can quickly become part of the familiar environment of consumers, where they reveal a lot of information about themselves. Knowing the customer has become much simpler, but this is always safe? Security is a growing issue and 100% security does not exist. The financial sector understands according to the FinTech experts not enough that the customer behavior has really changed. Time for navel-gazing is not new companies from outside the sector will only too happy to serve consumers in the area of pay, insurance and investment. And often at lower cost.

 

Delicate balance between convenience and risk

However confront the convenience of FinTech also risks. If personal data (big data) are a means of payment, then we must pay attention, said Jacob Kohnstamm. Create profiles of consumers may have unseen consequences and freedom, autonomy, equality and self-development can be compromised. A dime can not be penny more.

 

Commonplace and accessible, not easier

Thus FinTech new dilemmas brings along with it. The conversation with the community is essential to maintain the purity of the moral compass, especially in rapidly changing times. Aiming to keep the interests of customers, providers and other stakeholders in balance goes on. Simplify the financial world is not all new providers but commonplace and accessible. To the satisfaction of the customer.

Volgende publicatie:
Pension funds respond to Follow This proposal at Shell shareholders' meeting

Pension funds respond to Follow This proposal at Shell shareholders' meeting

Published on: 23 May 2016

Unfortunately, this article is not available in English.