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Engagement on ESG issues by Dutch pension funds: is it reaching its full potential?

Author

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  • Frank AJ Wagemans
  • CSA (Kris) van Koppen
  • Arthur PJ Mol

Abstract

In socially responsible investment (SRI), engagement forms one of the core strategies of institutional investors. In investigating the case of Dutch pension funds, this study answers the following questions: what networks shape engagement with investees, and what factors determine the effectiveness of engagement? The methods we used were interviews and a multiyear survey. Engagement was practised by 82% of the largest Dutch pension funds in 2016 and was implemented by asset managers and service providers. However, these actors are isolated from actors outside the financial sector. The legitimacy of the investor influences the effectiveness of engagement, whereas the number of shares is less important. The relationship between the engager and investee and the receptivity of the investee towards engagement are also of importance. Engagement can be made more effective when pension funds focus on specific themes, target companies open to engagement, and also seek collaboration with societal and policy actors.

Suggested Citation

  • Frank AJ Wagemans & CSA (Kris) van Koppen & Arthur PJ Mol, 2018. "Engagement on ESG issues by Dutch pension funds: is it reaching its full potential?," Journal of Sustainable Finance & Investment, Taylor & Francis Journals, vol. 8(4), pages 301-322, October.
    • Handle: RePEc:taf:jsustf:v:8:y:2018:i:4:p:301-322
    DOI: 10.1080/20430795.2018.1485379
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    Cited by:

    1. Ringe Wolf-Georg, 2023. "Investor Empowerment for Sustainability," Review of Economics, De Gruyter, vol. 74(1), pages 21-52, April.
    2. Mercedes Alda, 2019. "Corporate sustainability and institutional shareholders: The pressure of social responsible pension funds on environmental firm practices," Business Strategy and the Environment, Wiley Blackwell, vol. 28(6), pages 1060-1071, September.
    3. Rob Bauer & Dirk Broeders & Annick van Ool, 2023. "Walk the green talk? A textual analysis of pension funds’ disclosures of sustainable investing," Working Papers 770, DNB.
    4. Kentaro Azuma & Akira Higashida, 2024. "Climate change disclosure and evolving institutional investor salience: Roles of the Principles for Responsible Investment," Business Strategy and the Environment, Wiley Blackwell, vol. 33(4), pages 3669-3686, May.

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