Appendix B – Portfolio: developments 2014

Companies added to the portfolio

ABN Amro Bank

Best in class - Banks, Netherlands

ABN AMRO provides various banking products and services for retail, private, commercial and merchant banking clients in the Netherlands and internationally. ABN AMRO is a co-founder of the Equator Principles and provides adequate reporting on the project finance it undertakes. The company also has a strong policy on responsible investment and has established an in-house Investment Engagement Committee. ABN Amro chooses suppliers who meet its social standards and encourages them to bring sustainability performance in line with the ISO 26000 standard. The company has committed to reducing its carbon footprint by substantially reducing energy consumption. Green energy is used in the vast majority of its Dutch offices.

Agence Française de Développement

Best in class - Diversified Financials, France

Agence Française de Développement (AFD) is a government agency that implements France’s development assistance to developing countries and overseas territories. The agency finances and helps to implement development projects and aims to contribute to more sustainable and shared economic growth. The AFD projects improve the lives of millions of people by improving homes in slum areas and by providing public transport, education and employment training programmes, access to drinking water or improved sanitation services, financial support for small businesses and aid to family farms. For large projects, the agency performs impact assessments and monitors the environmental and social effects during realization. AFD values transparency and maintains a regular dialogue with stakeholders such as members of parliament, government ministries, regional and local authorities, enterprises and civil society organizations. It raises the French public’s awareness of development issues.

Assa Abloy

Best in class - Capital Goods, Sweden

Assa Abloy manufactures a wide variety of locks and door opening solutions, ranging from mechanical locks that can be found in every private home, through automatic revolving doors and air curtains for shops and public buildings to electronic hotel locks and smart access cards for businesses. The building industry has a strong focus on sustainability as an increasing number of buildings obtain environmental certification. Assa Abloy responds to this trend by making its new products as energy efficient as possible and considering the entire life cycle of products in the innovation process. The company also works to reduce its own environmental impact, by reducing energy intensity and decreasing water use and hazardous waste production. Assa Abloy has implemented robust programmes for health and safety in the workplace and has a zero accident target.

BBVA (Banco Bilbao Vizcaya Argentaria)

Best in class - Banks, Spain

Banco Bilbao Vizcaya Argentaria (BBVA) is a bank that provides corporate and investment banking services to large companies, as well as retail and business banking services to both private and business customers. The company has products and programmes in place aimed at boosting financial inclusion. One of these programmes is the BBVA Microfinance Foundation, which promotes the economic and social development of disadvantaged persons. BBVA is a signatory to important industry initiatives for sustainable banking, including the UN Principles for Responsible Investment, the UNEP Finance Initiative and the Equator Principles. Its Rules of Conduct on Defence exclude financing of companies that are involved in controversial weapons.

Beijing Enterprises Water Group

Pioneer - Clean Planet, Hong Kong

Beijing Enterprises Water Group owns and operates over 90 water supply plants and water sewage treatment plants in Beijing and other regions, mainly in the eastern part of China. It has an actual water treatment capacity of over 10,000,000 tons per day. Deriving almost 90% of its revenues from water and sewage/waste-water treatment operations, the company contributes to the availability of clean drinking water and cleaning of waste water, which are important preconditions for the health of people and a clean environment.

Cerus Corporation

Pioneer - Healthy People, United States

Cerus Corporation’s main product is the INTERCEPT Blood System that inactivates blood-borne pathogens in donated blood components intended for transfusion, thus enhancing blood safety. The company’s products may help in the fight against Ebola, as transfusion of blood or plasma from recovered Ebola virus patients has been demonstrated to benefit patients with acute Ebola virus infections. Plasma collected from individuals who have recovered from Ebola virus disease contains antibodies against the virus. However, recovered patients may also carry undetected pathogens, such as malaria or HIV. These pathogens can be inactivated with the INTERCEPT blood system without impacting the Ebola antibodies that the patient needs.

Chipotle Mexican Grill

Pioneer - CSR Pioneer, United States

Chipotle Mexican Grill operates over 1,200 fast-casual, fresh Mexican food restaurants. The company serves food fast without a “fast-food” experience. Chipotle has developed the ‘Food With Integrity’ concept: the origin of all ingredients is traced, to make sure they are grown or raised with respect for the environment, animals and people. It focuses on local sourcing, which reduces food miles, supports rural economies and ensures fresh, seasonal produce. Some ingredients are organic, but the company also sources from farmers who focus on responsible or sustainable practices but are not certified organic. The meat served comes from ‘naturally raised’ animals that are treated humanely, fed a vegetarian diet, never given hormones and are allowed to display their natural tendencies. The company shows ambition with its intention to ban all genetically modified food ingredients from its menu, which is a definite challenge in its country of origin, the US, where such ingredients are common.

Cognizant Technology Solutions

Best in class - Software & Services, United States

Cognizant Technology Solutions provides information technology (IT), consulting and business process outsourcing services worldwide. The company’s reporting on sustainability issues is considered strong. The company has an adequate policy on bribery and corruption as well as a whistleblower programme. Cognizant has an environmental policy and has established an environmental programme called “Go Green”, provides environmental training to employees and has programmes to improve its energy efficiency. Furthermore, the company has published a strong green procurement policy and programme. Cognizant offers several sustainable software solutions, which enhance its customers’ environmental and social performance.

Continental

Best in class - Automobiles & Components, Germany

Continental manufactures auto parts such as tyres, brake systems and powertrain and chassis components. The parts are also used in other products, such as wind turbines for energy generation. The company aims to increase the safety, comfort, and energy efficiency of vehicles and make mobility affordable for everyone. Continental is a signatory to the Global Compact of the United Nations and supports its principles in the areas of human rights, labour, the environment and anti-corruption. The company has set environmental, social, and legal requirements for its suppliers in its Code of Conduct. The compliance of new suppliers is assessed before an order is placed. A majority of suppliers have certified environmental management systems, as have the majority of Continental’s own locations.

Council of Europe Development Bank

Best-in-class - Banks, France

Council of Europe Development Bank (CEB) is a multilateral development bank that provides banking and financial services in Europe. It grants loans to finance social projects for governments, local or regional authorities and public or private financial institutions. The company provides services to the education and vocational training, health and social housing sectors, as well as to SMEs and environmental protection projects. CEB is actively involved in the financing of projects to support financially disadvantaged people and economically underdeveloped regions. The company has adopted the European Principles for the Environment (EPE), which aim to establish a common approach to environmental management associated with the financing of projects.

Cree

Pioneer - Climate Protection, United States

The expertise of Cree focuses on light emitting diodes (LEDs) and lighting technology. LED’s are energy-efficient and environmentally friendly. They can deliver the same amount of light using as little as 10 to 15% of the power needed for conventional light sources, while their lifetime is up to 25 times longer. This enables consumers to save hundreds of dollars over the life of each LED. Cree’s products are used for indoor and outdoor lighting, video displays, transportation and electronic signs and signals. Cree also manufactures semiconductors used in power conversion and wireless communications, offering increased efficiency and reduced size for network-server power supplies, solar inverters and industrial motor drives.

CT Environmental Group

Pioneer - Clean Planet, China

The main activity of CT Environmental Group is wastewater treatment and industrial water supply, but the company also offers solid waste, municipal wastewater and sludge treatment. With its services, the company offers solutions for one of China’s key environmental challenges: cleaning industrial water and increasing the efficiency of water usage, thus contributing to the prevention of water scarcity. The group’s services cover the whole value chain, from planning and construction, to operation and maintenance of the wastewater treatment and water supply facilities, resulting in, for example, centralized wastewater treatment in industrial parks.

Delphi Automotive

Best in class - Automobiles & Components, United States

Delphi Automotive makes components for cars and trucks, specializing in electrical and electronic parts, powertrain and safety systems and thermal systems for cooling and heating. With its products, the company contributes to the development of safer vehicles with better fuel efficiency and lower emissions, as the weight of components and their power use is reduced. For example, Delphi’s vehicle sound generator, which enables pedestrians to detect nearly silent hybrid and electric vehicles, is three times lighter than a conventional product and uses 90% less power. Delphi also aims to reduce the environmental impact of its operations and has implemented certified environmental and quality management systems at all manufacturing facilities.

DIRECTV

Best in class - Media, United States

DIRECTV provides digital television entertainment in the United States and Latin America. The company wants to take a strong leadership position in sustainability and to inspire its customers, employees, suppliers and industry to be more sustainable. Its sustainability goals include the reduction of waste to landfill by 95% by 2020 and the refurbishment or recycling of one receiver for every new one purchased. DIRECTV’s energy efficiency initiatives include the installation of solar energy systems to charge employees’ electric vehicles and power its facility with the highest electricity consumption. In response to the growth of the volume of electronics waste per person, the company has set up a recycling plan that also offers to recycle customers’ electronics. DIRECTV supports organisations that advocate independent media. Furthermore, the company recognises the issue of adult entertainment and the risk of access by minors and has implemented programmes to prevent this.

Express Scripts

Best in class - Health Care Equipment & Services, United States

Express Scripts manages prescription benefits for tens of millions of Americans on behalf of employers, health plans, unions and government health programs. The company develops strategies to keep medication affordable, including the selection of a cost-effective drug formulary and promotion of the use of generic drugs. Express Scripts uses “Consumerology” – the advanced application of behavioural sciences to health care – to help patients take steps that maintain or improve health outcomes at a lower cost.

Gamesa Corporación Technológica

Pioneer - Climate Protection, Spain

Gamesa makes wind turbines and wind turbine components and operates wind farms worldwide. The company also manufactures inverters for large-scale solar farms and turbines for hydroelectric power plants. With its renewable energy products, the company contributes to the move towards a low-carbon economy and helps reduce the uncertainty of future energy supply. Gamesa has a comprehensive environmental policy and management system. It uses its influence to foster fundamental human rights and liberties, as its conditions of purchase cover human rights and safety standards for suppliers. Through its products, the company contributes to climate protection.

Hannon Armstrong Sustainable Infrastructure Capital

Pioneer - Climate Protection, United States

Hannon Armstrong finances sustainable infrastructure projects that increase energy efficiency, provide cleaner energy, positively impact the environment or make more efficient use of natural resources. The projects primarily aim to improve energy efficiency by reducing a building or facility’s energy usage or cost and to increase the use of renewable energy from sources such as solar, wind, geothermal and biomass. Other sustainable infrastructure projects focus on water or communications infrastructure. The company defines sustainability as positively impacting the environment while being neutral or reducing greenhouse gas (GHG) emissions. In addition to GHG emissions, projects are screened for other environmental benefits, such as water use reduction.

Heineken

Best in class - Food, Beverage & Tobacco, Netherlands

Heineken brews the best-known brand of beer in the world: Heineken. Other global brands include Amstel, Desperados and Strongbow Gold, but the company also produces more than 200 local brands. Emerging countries are an important growth market. Under the flag of ‘Brewing a better future’, Heineken has developed a sustainability strategy focusing on the four areas where it can make the biggest difference: protecting water resources, reducing CO2 emissions, sourcing sustainably and advocating responsible consumption. Part of the strategy is its commitments for 2020, including obtaining raw materials from sustainable sources and from local sources in Africa, empowering smallholder farms. Heineken recognises its responsibility for encouraging people to drink responsibly and works on this commitment with campaigns, partnerships and industry initiatives.

Insulet

Pioneer - Healthy People, United States

Insulet makes insulin infusion systems for people with insulin-dependent Type 1 diabetes. The company’s OmniPod Insulin Management System combines an insulin pump with a handheld device providing continuous information about glucose levels in the patient’s blood. The insulin pump delivers a constant stream of rapid-acting insulin to the body for up to three days and offers better control than injections, with less risk of highs and lows. It improves the quality of life of patients, as an insulin pump allows them to immediately adjust the insulin intake. It also provides more flexibility with food and allows patients to skip meals, have a snack or eat when the family eats. Keeping the blood glucose level near normal can decrease diabetic eye, nerve or kidney disease. Insulet launched the industry’s first program for the eco-friendly disposal of insulin pump components. This program reduces landfill and takes hazardous waste right out of the waste stream.

Jones Lang Lasalle

Best in class - Real Estate, United States

Jones Lang LaSalle provides commercial real estate and investment management services. The company is a sustainability leader in its sector, which is reflected in its mission to hold itself accountable for the social, environmental and economic impact of its operations. The company has the skills and opportunity to reduce the significant impact that real estate has on the environment. It actively does so by integrating sustainability in the core of its services, for example by creating central sustainability roles and through its GreenSmart Lease Program, which helps companies achieve their environmental objectives through site selection and lease conditions. Over 95% of its clients’ buildings are included in the Energy Star Portfolio Manager, which benchmarks energy use.

Royal Wessanen

Pioneer - Healthy People, the Netherlands

Wessanen wants to be a European champion in healthy and sustainable food. It links healthiness to the sustainability of food and believes that what is good for us is also good for the planet and vice versa. The company offers organic, vegetarian and natural ingredients as well as ethically sourced food and specific dietary solutions. The three pillars of its sustainability strategy are healthier food, healthier people and a healthier planet. Responsible sourcing is one of the cornerstones of the healthier planet pillar. While Wessanen pledges to use only certified palm oil for its products, it also works to substitute palm oil whenever possible and develop new products that preferably do not contain palm oil. The company acknowledges the dilemma that this approach may on the one hand help to stem the growing demand and associated deforestation, while on the other hand it affects the livelihood of smallholder oil palms growers.

Kredietanstalt fur Wiederaufbau

Best in class - Banks, Germany

Kreditanstalt für Wiederaufbau (KfW) is the promotional bank of the Federal Republic of Germany and was formed in 1948, after World War II, as part of the Marshall Plan. The bank’s objectives include supporting domestic investments, import and export finance and projects in developing countries. KfW observes the UN Principles for Responsible Investment and has a dedicated in-house team that focuses on ensuring that comprehensive social and environmental standards are applied. Almost every third euro of KfW’s promotional funds is used to fund climate mitigation and environmental projects, such as thermal insulation and wind parks. The bank’s own activities have been carbon-neutral since 2006. KfW aims to give disadvantaged people access to financial services by lending to entrepreneurs, providing microcredit to people in developing countries and funding educational programmes.

Opower

Pioneer - Climate Protection, United States

Opower is an application software company that provides cloud-based software to the utility industry. The company’s software tools help households and businesses to become more aware of their power consumption and to take measures to be more energy efficient and reduce power use. Opower can embed its solutions in utilities’ websites, mobile applications and customer service interfaces and deliver individualized e-mails, text messages, automated phone calls and mail. With its products, Opower contributes to smart grid development and demand-side energy efficiency and reduction of power use.

Prologis

Best in class - Real Estate, United States

Prologis develops and manages industrial real estate, specializing in logistics facilities near key seaports, airports and major highway interchanges. The company’s objectives for environmental stewardship are to provide energy-efficient buildings that reduce operating costs and increase customer profitability, deliver best-in-class projects that enable more efficient customer operations and enhance the local community and engage its associates to reduce energy and water usage and waste production. Prologis seeks environmental certification of its projects in accordance with recognized standards such as LEED and BREEAM. The company recognises its potential for hosting solar energy systems as one of the world’s largest owners of rooftops and partners with utilities or investors seeking to provide renewable energy to their customers.

REC Silicon

Pioneer - Climate Protection, Norway

REC Silicon produces polysilicon and silane gas, which are used in the solar and consumer electronics industries. The company is committed to making safe and sustainable solar energy affordable and accessible. REC Silicon incorporates environmental considerations in the design, manufacture and delivery of its products, resulting in a reduction in energy use and CO2 emissions. REC Silicon has a human rights policy and a supply chain policy that covers basic labour rights.

Red Eléctrica De España

Best in class - Electric Utilities, Spain

Red Eléctrica de España is Spain’s electricity transmission and power infrastructure company. It is engaged in the transmission of electricity and the operation of the electrical system in Spain. The company monitors its employee health & safety performance and has certified all of its operations and its health and safety programs under international health and safety standards. It has also set standards for its supply chain and has a system to monitor compliance with these standards. Furthermore the company has green procurement guidelines and programmes to reduce air emissions, hazardous waste generation and greenhouse gas emissions. All of its sites are ISO 14001 certified. Red Eléctrica’s carbon intensity is very low compared with typical electric utility companies.

SCA

Best in class - Household & Personal products, Sweden

Svenska Cellulosa Aktiebolaget (SCA) manufactures personal care products for incontinence, baby and feminine care, tissue for products such as toilet paper and handkerchiefs and forest products, including publication and packaging papers. SCA’s well-known global brands are TENA and Tork. The company is Europe’s largest private forest owner and all of its forests are FSC certified. All of SCA’s pulp suppliers are certified and the company has a programme in place for enhancing the sustainability of its suppliers, with the ultimate goal of only sourcing FSC certified raw material. The company has a strong biodiversity programme for its own forests and produces biofuel, mostly for its own use, from forest and industrial residues. SCA also invests in wind power to increase its renewable energy use.

Seagate Technology

Best in class - Technology Hardware & Equipment, United States

Seagate Technology provides electronic data storage solutions, with hard disk drives as its principal products. These are used in servers that form the backbone of enterprise data centres and cloud-based computing, as well as desktop and notebook computers. The products for the cloud reduce energy use because they consume less power than a traditional hard disk drive. Seagate has a strong environmental management system and conducts life cycle assessments to assess the environmental impact of its products. All of the company’s manufacturing sites received environmental and social certification. Seagate expects its suppliers to comply with the EICC code of conduct.

Sound Global

Pioneer - Clean Planet, Singapore

Sound Global is a water utility company that focuses on waste water treatment. It offers services that cover the full value chain: from the design and construction of water and wastewater treatment facilities, to their operation and maintenance. The company also manufactures water and wastewater related equipment. Sound Global operates mainly in China, where it services both municipalities and industrial customers. Contributing to China’s major challenge of having to fight water pollution and water scarcity, Sound Global is considered a company with sustainable products and services.

TDC

Best in class - Telecommunication Services, Denmark

TDC provides telephony, internet, TV and data communication services throughout the Nordic countries. The company has a strong focus on customer trust and safety. TDC’s sustainability policy addresses in-house reduction of electricity, water, heating and fuel use. But it also helps customers and society to lower their environmental impact by providing environmentally and energy friendly products and by offering products such as telephony, internet and video conferencing that can replace energy-intensive car and plane journeys. The company has a high employee satisfaction score. Furthermore, TDC sets sustainability requirements for its supply chain.

Telecity Group

Best-in-Class - Software and Services, United Kingdom

Telecity Group runs data centres in large European cities, providing the digital infrastructure that enables companies to connect their digital content to the internet. The company offers a broad range of related services, from IT infrastructure design and connection to the cloud to data storage and server management. Telecity acknowledges the dependence of data centres on energy and the role that the data centre industry plays in creating a more energy efficient digital economy. The company has group-wide energy management programmes and has developed the EU Code of Conduct for Data Centres that provides best practice guidelines for reducing energy use and improving energy efficiency in data centres. Telecity uses multiple technologies to improve the efficiency of data centre power and cooling, including thermal energy storage systems and the re-use of waste heat. Furthermore, the company has a strong focus on customer satisfaction.

Tenneco

Pioneer - Climate Protection, United States

Tenneco makes emission and ride control products for cars and trucks. Its emission control products include particulate filter systems, catalytic converters and waste heat recovery generators for cars that contribute to cleaner air. They help car manufacturers to meet increasingly strict emission and noise regulations and achieve the necessary improvement in fuel efficiency. The ride control products contribute to smoother and safer transportation. Tenneco has a sound environmental management system with a strong focus on energy and water conservation, reduction of waste and optimal recycling of materials. The company also works on supply chain due diligence to assess the potential use of conflict minerals.

Universal Display

Pioneer - Climate Protection, United States

Universal Display is a specialist in organic light emitting diode (OLED) technology. OLEDs are thin, lightweight and energy efficient devices that emit light and are suitable for use in full-color displays and as lighting products. The company develops FOLED® flexible technology for displays with improved ruggedness, thinness and reduced weight. In the future, this technology will allow the development of products such as foldable, electronic, daily-refreshable newspapers and ultra-lightweight and thin wall-size television screens. The company’s OLED technology is considered to contribute to climate protection.

Veeco Instruments

Pioneer - Climate Protection, United States

Veeco Instruments produces equipment for making light emitting diodes (LEDs), solar panels, and other devices. It sells its products primarily to manufacturers of high brightness LEDs and solar panels as well as to research customers. It also offers equipment for the production of data storage systems. Veeco has policies in place to make sure that its operations do not harm human health and the environment. It has also taken supply chain measures to make sure that coltan used in its products is always sourced in adherence with the so-called ‘conflict free smelter program’. Veeco’s products contribute to energy efficient lighting and the use of solar power.

Vivint Solar

Pioneer - Climate Protection, United States

Vivint Solar helps its customers to reduce their energy costs by providing them with solar energy. The company designs, installs, finances and services solar energy systems for residential homes. Customers buy the power that the system on their roof produces at a discount to the rate charged for utility-generated electricity. Vivint Solar can offer energy at a lower price by reducing generation, transmission and distribution costs. The customers pay little or no money upfront and can realize savings of 15% to 30% from the moment the system is in operation. As a solar power company, Vivint Solar is a company that offers sustainable products and services.

Whitbread

Best in class - Consumer Services, United Kingdom

Whitbread is the largest company in the budget hotels and restaurants sector in the United Kingdom, with brands that include Premier Inn, Beefeater and Costa. The company recognises that customers want to be sure that they can trust the products that they buy and aims for accreditation and sustainable supply of tea/coffee, timber, palm oil, fish and meat by 2017. Whitbread has developed a sustainable sourcing strategy that covers animal welfare and includes vegetarian dishes in all its standard menus. Through its Costa shops the company sells only Rainforest Alliance certified coffee.

WhiteWave Foods

Pioneer - CSR Pioneer, United States

WhiteWave Foods makes plant-based foods and beverages, as well as dairy products, including almond, soy and coconut milk and dairy coffee creamers. Well-known brands are Horizon, Silk, Alpro, Land ‘o Lakes and International Delight. A large proportion of the products is organic. The company aspires to change the way in which the world eats for the better and is committed to quality, food safety, responsible sourcing, sustainable agriculture, transparent labelling, third-party assurances and sustainable packaging. WhiteWave Foods recognizes that the way in which it makes its products is just as important as what it makes and works on reducing its footprint by means of resource conservation, using renewable energy and water conservation. The company has laid down its responsible sourcing principles in its Supplier Code of Conduct, which covers the key areas of business ethics and compliance, employee and labour relations and environmental management.

Companies sold based on sustainability performance

  • Aegion: the company lacks a policy on human rights.
  • Ahold: the company lacks an adequate policy on genetic engineering.
  • Google: the company was removed due to involvement in arms.
  • Telefónica: the company was removed due to concerns about structural involvement in anti-trust cases.
  • Vivendi: the company no longer belongs to top 50% of best performing companies in the sector.

Companies sold based on financial reasons

  • Adidas
  • Annie’s
  • Atlas Copco
  • BCE
  • Broadcom
  • Bunzl
  • Calgon Carbon
  • Capstone Turbine
  • CME Group
  • Donaldson
  • Enel Green Power
  • Ericsson
  • Getinge
  • GT Advanced Technologies
  • Huhtamaki
  • Itron
  • Krones
  • Naturex
  • Ocean Power Technologies
  • Ormat Technologies
  • Philips
  • Shanks Group
  • Shimano
  • Silver Spring
  • Sims Metal Management
  • Symantec
  • Telux
  • Tox Free Solutions
  • United Utilities Group
  • Waterfurnace Renewable
  • Waters
  • William Demant
  • Yara International
  • Zimmer Holding

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