ASR Nederland NV

Lobbying Governance

AI Extracted Evidence Snippet Source

###### 3.4.6 Political engagement

a.s.r. takes part in open dialogues within politics and with its stakeholders. To this end, it holds meetings with government bodies, financial institutions and socially relevant organisations on an ongoing basis to explore societal issues.

In view of the challenges that society as a whole is faced with, a.s.r. believes it is vital to cooperate – as partners, government bodies and institutions – and to identify sustainable solutions. a.s.r. engages itself in political lobbies as part of the democratic process and contributes its expertise and knowledge to support the government's policy development. Another example of a.s.r.'s contribution to societal issues are the reputation sensitive files that have been discussed in the House of Representatives (Tweede Kamer) on topics such as P&C insurances, asbestos, solar panels, uninsurability, legal counsel and personal injury. This has resulted in a more positive stance of the Dutch government towards the insurance sector. a.s.r. also made a substantial contribution to the round tables that led to the compostion of the National Climate Agreement of the Netherlands.

a.s.r. shares its insights in order to assist in solutions to regulatory and macro economic challenges. a.s.r. ensures that all public affairs, lobbying and political network activities are carried out in line with the Code of Conduct of the Dutch Association for Public Affairs (BVPA), which is a minimum obligatory standard governing contacts with representatives from politics, the private sector and society. Through the BVPA, a.s.r. is a signatory to the EU Transparency Code of Conduct. Public Affairs of a.s.r. monitors developments in the area of legislation and regulations while providing appropriate answers in its political contacts.

Public Affairs of a.s.r. supports the operational entities in relation to regulatory and political strategies and monitors regulatory and political subjects within a.s.r. a.s.r. is committed to democracy and wishes to play a neutral yet substantive role in this. a.s.r. therefore does not support political parties financially in any way whatsoever. The total of annual monetary contributions made and expenditures incurred with regard to trade associations in 2020 was € 3,174,000 (2019: € 2,320,000). The largest membership contribution in 2020 was paid to the Dutch Association of Insurers € 3,124,000 (2019: € 2,281,000).

https://www.asrnederland.nl/-/media/files/asrnederland-nl/investor-relations/jaarverslagen/2020/2020-annual-report-asr-nederland.pdf

### Governance and oversight

a.s.r. thinks that it is important to embed climate considerations into its core governance process. We have ensured that climate strategy is integrated across all levels of the organisation and that is aligned with our various sustainability policies. This Climate Transition Plan is approved by the Management Board.

###### Shared responsibility

The responsibility for a.s.r.'s climate strategy is shared throughout every level of our organisation. Within the Management Board (MB), our CEO is responsible for sustainability, including climate policy. Overall, the Management Board bears the ultimate accountability for our corporate strategy.

Since 2022, the Management Board receives support from a.s.r.'s Sustainability Committee. This Committee reviews and advises on draft policies for a.s.r. regarding sustainability before these policies are presented to the MB for adoption. This Committee also focuses on addressing dilemmas and conflicts related to sustainability and ethics, and ensures ethical considerations are integrated into a.s.r.'s decision-making processes.

Within the Supervisory Board, the Nomination and ESG (Environmental, Social, Governance) Committee provides advisory support and monitors ESG developments as well as sustainability strategy outcomes.

The Supervisory Board of a.s.r. furthermore approves the strategic non-financial targets, which includes any climate-related targets.

Overall, in terms of climate and sustainability-related tasks, the responsibilities of the above-mentioned governance mechanisms include reviewing and guiding strategy. This includes overseeing, guiding the development and approving this transition plan for a.s.r, as well as continued monitoring and implementation of the plan.

###### Implementation

Operational responsibility for implementing a.s.r.'s climate strategy lies with the various product lines. Each segment's management team is tasked with implementing the transition plan in the decentralised business strategy, in which they receive support from a decentralised ESG or sustainability team or decentralised sustainability officer in order to ensure cohesive action and stimulate synergy across the product lines. Besides, several product lines have an internal committee to advise on ESG related risks and decisions.

In addition, the Sustainability Workforce, which includes representatives from different operating segments, monitors (internal and external) developments as well as the implementation of climate policy and strategy. Every quarter, the Sustainability Workforce reports to the MB regarding progress on climate targets and KPIs. This is coordinated by the central Sustainability Team of a.s.r., which additionally establishes project groups focused on themes which require a cross- operating segment approach.

https://www.asrnederland.nl/-/media/files/asrnederland-nl/duurzaam-ondernemen/klimaattransitieplan/climate-transition-plan-asr.pdf

Public Affairs of a.s.r. follows developments in legislation and regulations and provides appropriate responses to its political contacts. In 2021, a.s.r. updated the House of Representatives on the handling of personal injury claims. This topic has received a lot of political attention in the past year. The same applies to reputation-sensitive files such as the climate agreement and the investment policies. Knowledge transfer has taken place by organising dialogues and meetings with members of parliament. This led to a more positive attitude toward a.s.r. on the part of the House of Representatives. [...] a.s.r. ensures that all public affairs, lobbying and political networking activities are carried out in line with the Code of Conduct of the Professional Association of Public Affairs (BVPA); this is the mandatory minimum standard for contacts with representatives of politics, business and society. [...] Through the BVPA, Public Affairs of a.s.r. is a co-signatory of the EU Transparency Code of Conduct. Public Affairs supports the operational disciplines within a.s.r. on the regulatory framework and political strategies and monitors these topics. a.s.r. is committed to democracy and aims for a neutral yet substantive participation. a.s.r. does not provide (financial) support of any kind to any political party, no contributions (€ 0) were made in 2021."
"Within the Executive Board (EB), the CEO has final responsibility for the sustainability theme. The EB shares responsibility for the implementation of the business strategy and is supported in its implementation by the Business Executive Committee (BEC). The Sustainability Workforce and the TCFD Working Group support the BEC in its responsibility for policy development and implementation. The Sustainability Workforce reports quarterly on the climate targets and other sustainability targets and KPIs to the BEC. The BEC discusses the results together with the risks and makes adjustments where necessary. In 2021, an ESG committee was established within the Supervisory Board (SB). This Nomination & ESG Committee advises and supports the SB with its supervisory role regarding ESG developments and results of the sustainable business strategy.

https://www.asrnederland.nl/-/media/files/asrnederland-nl/investor-relations/jaarverslagen/2021/2021-annual-report-asr.pdf

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]a.s.r. seeks a constructive dialogue and engagement with the companies it invests in about relevant Environmental, Social and Governance (ESG) practices, in accordance with the standards outlined in the a.s.r. Socially Responsible Investment Policy (SRI Policy). The SRI is in line with a.s.r.'s overall climate change strategy.

The main objective of this engagement is to contribute to the responsibility and identity of a.s.r. as an insurance company with a focus on the enhancement of ESG issues. With this Engagement Policy, a.s.r. further expresses its commitment to being a responsible investor. Every engagement project has concrete objectives and timelines. This allows for adequate assessment of whetherthe objectives have been achieved. The effectiveness of the activities is reviewed every six months.

Engagement types
a.s.r. is in a position to influence the ESG performance of the market and companies by actively participating in market consultations through discussions with company management and through exercising proxy votes (see a.s.r. Voting Policy).

Following the classification laid down by the UNPRI, to which a.s.r. became a signatory in 2011, a.s.r. distinguishes between:

1. Engagement for monitoring purposes
a.s.r. seeks contact with companies for the purpose of gathering ESG information and uses this input in the decision-making process or to trigger engagement for influence.

2. Engagement for influencing purposes
a.s.r. engages in a dialogue with company management to discuss concerns on ESG issues. The selection of companies is decided based on the following criteria:
- the relevancy of the controversy versus the a.s.r. SRI policy;
- the expected impact on the ESG issue due to a.s.r.'s efforts;

3. Public policy ESG engagements
This concerns a.s.r. initiatives to enhance ESG (best) practices or to put specific ESG issues on the agenda of policymakers, government, regulatory bodies and/or sector organizations.

CDP Questionnaire Response 2022

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes

CDP Questionnaire Response 2023

Describe the process(es) your organization has in place to ensure that your external engagement activities are consistent with your climate commitments and/or climate transition plan?[…]a.s.r. seeks a constructive dialogue and engagement with the companies it invests in about relevant Environmental, Social and Governance (ESG) practices, in accordance with the standards outlined in the a.s.r. Socially Responsible Investment Policy (SRI Policy). The SRI is in line with a.s.r.'s overall climate change strategy.

CDP Questionnaire Response 2023