Difference between revisions of "Stichting Pensioenfonds ABP"
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'''Stichting | '''Stichting Algemeen Burgerlijk Pensioen''', stylized as '''Pensioenfonds ABP''', is the largest pension fund in the Netherlands, and among the top three worldwide.<ref>https://abppensioen.nl/het-fundament-van-pensioenfonds-abp/</ref> Its headquarter is placed in Heerlen, a city in Limburg.<ref>https://www.abp.nl/english/contact-us.aspx</ref> ABP offers all types of pensions, such as a Disability Pension, a Partner's Pension, and a Retirement Pension. The pension fund was established in 1922 primarily to regulate the pensions of Dutch civil servants. At the time it was government controlled, but in 1996, ABP was privatized.<ref>https://www.institutionalinvestor.com/article/b14zpmqlqfsjrm/from-the-archive-can-abp-cope-with-freedom-may-1996 </ref> In 2020, the fund served over 3.1 million employees, and an additional 3,557 employers. The pension fund itself only had 41 employers as of 2020.<ref> https://jaarverslag.abp.nl/abp-jaarverslag-2020.pdf p. 5</ref> Although ABP predominantly provides pensions to Dutch citizens, the company invests worldwide.<ref>https://www.abp.nl/images/overview-corporate-bonds.pdf</ref> On February 28th, 2022, ABP confirmed that their current assets are worth 528 billion EUR.<ref>https://www.abp.nl/english/financial-situation/financial-dashboard.aspx</ref> Their liabilities account for 475 billion EUR. | ||
== Company Structure == | == Company Structure == | ||
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As of January 1st 2022, ABP has a new management model.<ref>https://www.abp.nl/over-abp/actueel/nieuws/abp-krijgt-een-nieuw-bestuursmodel%20.aspx</ref> It now consists of three executive members, twelve non-executive members and one independent chairperson. The executive members are responsible for the daily management such as decision making and implementation. The non-executive members have a supervision role. They are appointed by employees, employer-organizations or retirees. The board is led by Corien M. Wortmann-Kool, Chairman of the Supervisory Board. | As of January 1st 2022, ABP has a new management model.<ref>https://www.abp.nl/over-abp/actueel/nieuws/abp-krijgt-een-nieuw-bestuursmodel%20.aspx</ref> It now consists of three executive members, twelve non-executive members and one independent chairperson. The executive members are responsible for the daily management such as decision making and implementation. The non-executive members have a supervision role. They are appointed by employees, employer-organizations or retirees. The board is led by Corien M. Wortmann-Kool, Chairman of the Supervisory Board. | ||
Since the institution was originally established by the Dutch government, its headquarter is in the Netherlands. In 1960 they moved the office from The Hague to Heerlen, to compensate for the closure of the national mines in the south.<ref>https://www.heerlenvertelt.nl/2021/05/pioniers-uit-den-haag-samen-met-het-abp-verhuizen-naar-heerlen/</ref> | |||
=== Executive Board === | === Executive Board === | ||
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!Name | !Name | ||
!Function | !Function | ||
!Remuneration x1000 EUR | |||
|- | |- | ||
|Aldert Boonen | |Aldert Boonen | ||
|Member supervisory board | |Member supervisory board | ||
|XXXX EUR | |||
|- | |- | ||
|Patrick Fey | |Patrick Fey | ||
|Member supervisory board | |Member supervisory board | ||
|XXXX EUR | |||
|- | |- | ||
|Anne Gram | |Anne Gram | ||
|Member supervisory board | |Member supervisory board | ||
|XXXX EUR | |||
|- | |- | ||
|André van Vliet | |André van Vliet | ||
|Member supervisory board | |Member supervisory board | ||
|XXXX EUR | |||
|- | |- | ||
|Krista Nauta | |Krista Nauta | ||
|Member supervisory board | |Member supervisory board | ||
|XXXX EUR | |||
|- | |- | ||
|Paul Rosenmöller | |Paul Rosenmöller | ||
|Member supervisory board | |Member supervisory board | ||
|XXXX EUR | |||
|- | |- | ||
|Loek Sibbing | |Loek Sibbing | ||
|Member supervisory board | |Member supervisory board | ||
|XXXX EUR | |||
|- | |- | ||
|Vandena van der Meer-Gangapersadsing | |Vandena van der Meer-Gangapersadsing | ||
|Member supervisory board | |Member supervisory board | ||
|XXXX EUR | |||
|- | |- | ||
|Conchita Mulder-Volkers | |Conchita Mulder-Volkers | ||
|Member supervisory board | |Member supervisory board | ||
|XXXX EUR | |||
|- | |- | ||
|Xander den Uyl | |Xander den Uyl | ||
|Member supervisory board | |Member supervisory board | ||
|XXXX EUR | |XXXX EUR | ||
|} | |} | ||
=== Accountant === | === Accountant === | ||
The independent auditor of Pensioenfonds ABP is KPMG Advisory N.V. They have been ABP's accountant since January 1st 2016.<ref>https://www.abp.nl/images/jaarverslag-2015.pdf</ref> | |||
=== Main Activities === | === Main Activities === | ||
Revision as of 13:08, 7 April 2022
| Stichting Pensioenfonds ABP | |
|---|---|
 | |
| Quick Facts | |
| Type | Financial |
| sector | Financial Services |
| Headquarters (Benelux Organization) | Heerlen, The Netherlands |
| Year of Origin | 1922 |
| Emissions (All Scopes) | XXX Megatons of CO2 (2020) |
| Total Revenue | USD$XXXX billion (2020) |
| Stock Exchange | Bijv. Tokio, Amsterdam |
| Key People | Harmen van Wijnen (Voortzitter Uitvoerend Bestuur), Yolanda Verdonk-van Lokven (Uitvoerend Bestuurder); Dominique Dijkhuis (Uitvoerend Bestuurder) |
| Number of Employees | 41 (in 2020) |
| Subsidiaries | None
|
Stichting Algemeen Burgerlijk Pensioen, stylized as Pensioenfonds ABP, is the largest pension fund in the Netherlands, and among the top three worldwide.[1] Its headquarter is placed in Heerlen, a city in Limburg.[2] ABP offers all types of pensions, such as a Disability Pension, a Partner's Pension, and a Retirement Pension. The pension fund was established in 1922 primarily to regulate the pensions of Dutch civil servants. At the time it was government controlled, but in 1996, ABP was privatized.[3] In 2020, the fund served over 3.1 million employees, and an additional 3,557 employers. The pension fund itself only had 41 employers as of 2020.[4] Although ABP predominantly provides pensions to Dutch citizens, the company invests worldwide.[5] On February 28th, 2022, ABP confirmed that their current assets are worth 528 billion EUR.[6] Their liabilities account for 475 billion EUR.
Company Structure
As of January 1st 2022, ABP has a new management model.[7] It now consists of three executive members, twelve non-executive members and one independent chairperson. The executive members are responsible for the daily management such as decision making and implementation. The non-executive members have a supervision role. They are appointed by employees, employer-organizations or retirees. The board is led by Corien M. Wortmann-Kool, Chairman of the Supervisory Board.
Since the institution was originally established by the Dutch government, its headquarter is in the Netherlands. In 1960 they moved the office from The Hague to Heerlen, to compensate for the closure of the national mines in the south.[8]
Executive Board
| Name | Function | Remuneration x1000 EUR |
|---|---|---|
| Harmen van Wijnen | Chairman Executive Board | XXX EUR |
| Yolanda Verdonk | Executive Board member | XXX EUR |
| Dominique Dijkhuis | Executive Board member | XXX EUR |
Supervisory Board
| Name | Function | Remuneration x1000 EUR |
|---|---|---|
| Aldert Boonen | Member supervisory board | XXXX EUR |
| Patrick Fey | Member supervisory board | XXXX EUR |
| Anne Gram | Member supervisory board | XXXX EUR |
| André van Vliet | Member supervisory board | XXXX EUR |
| Krista Nauta | Member supervisory board | XXXX EUR |
| Paul Rosenmöller | Member supervisory board | XXXX EUR |
| Loek Sibbing | Member supervisory board | XXXX EUR |
| Vandena van der Meer-Gangapersadsing | Member supervisory board | XXXX EUR |
| Conchita Mulder-Volkers | Member supervisory board | XXXX EUR |
| Xander den Uyl | Member supervisory board | XXXX EUR |
Accountant
The independent auditor of Pensioenfonds ABP is KPMG Advisory N.V. They have been ABP's accountant since January 1st 2016.[9]
Main Activities
In a few sentences, describe the core activities of the company. In a bit more detail than in the introduction.
Government
To what extent can the government influence company policy? (shareholder, licensing authority, client etc.) Has company received NOW support or royal status?
Paris Agreement untill Today
What has company done or refused to do since the Climate Accord of Paris? Per company, where applicable refer to research on the benefits of fossil companies in the form of subisidies etc.
Financial Results since 2015
This tabel is meant to indicate that the companies have plenty of money to make their company more sustainable. Clearly distinguish between Dutch data and international data.
| Year | Revenue | Profit | Dividend |
|---|---|---|---|
| 2015 | XXX Billion EUR | XXX EUR | XXX EUR |
| 2016 | XXX Billion EUR | XXX EUR | XXX EUR |
| 2017 | XXX Billion EUR | XXX EUR | XXX EUR |
| 2018 | XXX Billion EUR | XXX EUR | XXX EUR |
| 2019 | XXX Billion EUR | XXX EUR | XXX EUR |
| 2020 | XXX Billion EUR | XXX EUR | XXX EUR |
| 2021 | XXX Billion EUR | XXX EUR | XXX EUR |
Scandals and controversies
Any dirt on the companies can be added here.
Current Emissions
Description of the emissions per scope. Critical analysis of (missing) information based on GHG protocol (probably most relevant for scope 3). Describe possible reduction trends.
See p. 63 et seq. of APG. Verslag Verantwoord Beleggen APG Groep 2020 [Internet]. APG; 2021. Available from: https://apg.nl/media/dpef3e2e/nl-verslag-verantwoord-beleggen-apg-2020.pdf
Climate Policy and Plans
Description of the climate plans and policy of the company, with special focus on the goals for 2030 and 2050. Make sure to include the baseyear for their targets. Do the goals take the entire company and all scopes into account?
ABP. Duurzaam en Verantwoord Beleggingsbeleid ABP vanaf 2020. Inzetten op duurzame en rechtvaardige transities [Internet]. ABP; 2020 Oct. Available from: https://www.abp.nl/images/dvb-beleid-abp.pdf. Concrete climate goals for 2030 will follow in 2022 as per the Climate Commitment of the Dutch financial sector.
ABP. Factsheet beleggen in steenkoolbedrijven [Internet]. ABP; 2021 Dec. Available from: https://www.abp.nl/images/ABP%20Factsheet%20beleggen%20in%20steenkoolbedrijven.pdf
ABP. ABP stopt met beleggen in producenten fossiele brandstoffen. Feiten & cijfers [Internet]. ABP; 2021 Oct. Available from: https://www.abp.nl/images/abp-feiten-en-cijfers-dvb-november-2021.pdf
Due Diligence
Keep the broader context in mind. Is the company integer when it comes to deforestation, palm oil, biodiversity, human rights etc etc? Be critical in the sources used here.
Conclusion
Recap of the position and influence of the company. Are the climate plans of the company enough to be in line with goals of the Paris Agreement? Is the company doing enough? Are the companies targets realistic?
References
- ↑ https://abppensioen.nl/het-fundament-van-pensioenfonds-abp/
- ↑ https://www.abp.nl/english/contact-us.aspx
- ↑ https://www.institutionalinvestor.com/article/b14zpmqlqfsjrm/from-the-archive-can-abp-cope-with-freedom-may-1996
- ↑ https://jaarverslag.abp.nl/abp-jaarverslag-2020.pdf p. 5
- ↑ https://www.abp.nl/images/overview-corporate-bonds.pdf
- ↑ https://www.abp.nl/english/financial-situation/financial-dashboard.aspx
- ↑ https://www.abp.nl/over-abp/actueel/nieuws/abp-krijgt-een-nieuw-bestuursmodel%20.aspx
- ↑ https://www.heerlenvertelt.nl/2021/05/pioniers-uit-den-haag-samen-met-het-abp-verhuizen-naar-heerlen/
- ↑ https://www.abp.nl/images/jaarverslag-2015.pdf