Ageas SA/NV

Furthermore, and specifically, with respect to the management of Ageas's investment portfolio, dedicated Committees supervise or take care of implementing the UN Principles of Responsible Investment (UN PRI) reflected in Ageas's Responsible Investment Framework, to ensure a focused approach on the various specific ESG related matters including climate: [...] Ageas Investment Committee (AGICO): operates at the level of Ageas and is led by the Group CFO; other members being the Group Chief Investment Officer (CIO) and the Group Chief Risk Officer (CRO). This monthly committee discusses and takes strategic decisions regarding the asset mix and all related topics and is responsible for the risk management of the investments. The AGICO validates and also supervises the publication and the implementation of among others Ageas's Responsible Investment Framework as it applies at the level of the operating companies. Part of this framework incorporates the exclusions list and the integration of ESG criteria. [...] Investment risk is managed at the local level, on the basis of local policies which follow the Group framework. Strategic Asset Allocation is performed regularly (typically yearly) and reported to Group AGICO. Group Risk monitors exposures in aggregate by comparing risk limits (per asset class, geography, concentration) and reports to the Ageas Risk Committee on quarterly basis. [...] At the level of AG, the Belgian subsidiary of Ageas, and representing about 80% of Ageas's funds under management, two dedicated committees oversee the set-up, integration and proper execution of the ESG strategy on investments, including climate change. AG operates as a Centre of Expertise for the Group proposing best practices and guidance to the AGICO and advising and supporting extension to other operating companies. Each Opco has dedicated staff responsible for analysing ESG topics in the asset portfolio. [...] SRI Steering Committee: responsible for the continuous monitoring and updating of the Responsible Investment Policy. This committee meets quarterly and is in charge of validating the exclusions list, setting up and continuously reviewing the Responsible Investment Framework including among others the engagement and voting policies. Its members include the CIO, Head of SRI, Head of Risk, Internal Control & Compliance, Head of Front Office General Account, Head of Front Office Unit Linked and portfolio managers. [...] SRI Monitoring Committee: responsible for the monitoring of all investment positions held. This committee meets quarterly and is in charge of reviewing and validating all investments with a particular attention on issuers with higher ESG risk rated scores and validating voting proposals and engagement initiatives. Its members consist of the Chief Investment Officer, Head of SRI, Head of Information Management, Head of Risk, Internal Controls & Compliance, Head of Front Office General Account, Head of Front Office Unit-Linked and portfolio managers.

Ageas's positioning towards lobbying is also reflecting its concern to prevent corruption: it was outlined in a guidance note in 2021, approved by the Board of Directors. Ageas is recorded in the EU Transparency Register with the purpose to benefit from some of the practical advantages linked to it, i.e. receiving email notifications on the activities of Parliament's Committees; and being notified about consultations and roadmaps in specific areas. Discussion at the Board and Executive Committee confirmed the commitment included in the Anti-Bribery and Corruption policy that Ageas prohibits Ageas, its employees or agents to make direct or indirect contributions to political parties, organisations or individuals engaged in politics as a way of obtaining advantage in business transactions. The 2022 total expenses on corporate memberships to sector and professional associations across Ageas Group equal EUR 3.8 mio.

Implementation of the Impact24 strategy is under the lead of the Chief Development and Sustainability Office (CDSO), having oversight over all transversal initiatives in the domains of technology, business development and sustainability across the Group. CDSO has a seat on Ageas's Management Committee. In addition, since September 2021, a dedicated Steering Committee chaired by the Group CEO oversees all discussions and preparation of decisions that may arise during the implementation of the various sustainability ambitions. As from April 2024, the Executive Committee will be enlarged with a new function, Managing Director Business Development, which among other things will encompass sustainability. Regular presentations and updates have been provided to the Executive Committee and Management Committee as well as to the Board of Directors, both on the overall progress as well as on more technical aspects, to enable and stimulate the accumulation of expertise up to the highest level of the organisation. As an example, a dedicated session to share an update on the status of the strategy implementation, upcoming CSRD legislation with amongst others a detailed discussion on activities in scope, outcome of the new Double Materiality Assessment and ESG ratings was organised with the Board. Within the Board, the four subcommittees each take up a specific role related to sustainability. The Nomination and Corporate Governance Committee makes recommendations on environmental and societal matters alongside governance matters and non-financial KPIs; the Remuneration Committee advises on how to include sustainability in the performance KPIs (for more information see note A 6.7 Report of the Remuneration Committee); the Risk and Capital Committee follows-up on defining and monitoring ESG risks (see note C Risk Management), and finally the Audit Committee has responsibility for assessing, reviewing and approving the Annual Financial Statements including the non-financial information disclosures. The central Group Sustainability department has a pivotal role in defining and implementing the sustainability strategy in conjunction with strong local, decentralised involvement delivered through a network of ambassadors. These ambassadors represent the various businesses, main subsidiaries, and the most relevant central departments. Aside from the commercial businesses represented, i.e., Belgium, UK, Portugal, India, Türkiye and the Asian regional headquarters covering all the Asian countries, the network includes ambassadors within the domains of Risk, HR, Communications, and Investments. This team has over the past few years driven the various initiatives taken across the organisation. In addition to the Sustainability network, colleagues from other departments involved such as Legal, Compliance and Finance representatives also intervened on a more ad hoc basis to introduce specific competences which contributed to even better and more balanced solutions, ensuring a smooth and fast integration of the relevant sustainability principles in the daily processes. This model has proven to be very successful, leading to a first wave of significant achievements and progress and a proper and timely implementation of all relevant upcoming legislation."
"Ageas's positioning towards lobbying reflects its concern to prevent corruption: it was outlined in a guidance note in 2021, approved by the Board of Directors. Discussion at the Board and Executive Committee confirmed the commitment included in the Anti-Bribery and Corruption policy that Ageas prohibits Ageas, its employees or agents from making direct or indirect contributions to political parties, organisations or individuals engaged in politics as a way of obtaining advantage in business transactions. The 2023 total expenses on corporate memberships to sector and professional associations across Ageas Group equal EUR 3,9 mio. Reporting lobbying activities in the EU transparency register is for companies that are performing these lobbying activities with the aim of influencing the European institutions such as the European Parliament, EU Council and/or the European Commission. Review of Ageas's activities revealed that Ageas does not perform any of these lobbying activities. Therefore, Ageas has decided to cancel its registration in the EU transparency register.

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Local entities have their local contacts at the trade associations, yet are bonded by the group strategy as expressed in Impact24. Process is rather informal through frequent engagements between the local Sustainability Teams and Group Sustainability team.

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]No, and we do not plan to have one in the next two years