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Overview

As a long-term institutional investor to protect and enhance the value of assets under management, the National Pension Service has a fiduciary duty to manage and invest the assets in the best interests of its participants and beneficiaries. Accordingly, the NPS undertakes stewardship activities, such as responsible investment and the exercise of shareholder rights, to maximize long-run, stable returns.

Milestones of Stewardship Activities

Milestones of Stewardship Activities
Sept. 2006 Launched externally-managed RI funds for domestic equities
Sept. 2009 Became a PRI signatory (Principles for Responsible Investment)
Jun. 2015 Developed a plan to promote shareholder engagement on dividend policies for domestic equities
Nov. 2015 Established an ESG Evaluation System for domestic equities
Apr. 2016 Added responsible investment provisions to the Fund Management Guideline (Investment Policy Statement)
Dec. 2016 Formulated an ESG System for domestic equities
Jul. 2017 Established an Evaluation System on ESG Controversial Issues for domestic equities
Sept. 2017 Initiated the incorporation of ESG factors into investment decisions in internally managed domestic equities
Jul. 2018 Introduced NPF Responsible Investment & Governance Principles (Stewardship Code)
Established a Guideline on Responsible Investment & Governance
Jan. 2019 Established a Guideline on Stewardship Activities for Domestic Equities
Feb. 2019 Decided on the disclosure criteria of voting directions prior to shareholder meetings for domestic equities
Nov. 2019 Developed a plan to facilitate responsible investment
Added a principle of Sustainability on the NPF Investment Principles
Dec. 2019 Developed a Guideline on Active Ownership for Domestic Equities
Jul. 2020 Amended the Guideline on Stewardship Activities for Domestic Equities
Sept. 2020 Enhanced a materiality assessment process and its assessment standards for domestic equities
Nov. 2020 Developed a Guideline on ESG Integration Strategies for Domestic Equities
May. 2021 Adopted negative screening & Added investment restriction provisions to the Fund Management Guideline (Investment Policy Statement)
Declared coal-free investment
Enhanced an ESG evaluation system for domestic equities & Established an ESG evaluation system for domestic fixed income
Jun. 2021 Developed the Guideline on ESG Integration Strategies for internally managed domestic fixed income
Dec. 2021 Issued the Guideline for Responsible Investment on Composition and Operation of Boards of Directors, etc.
Developed ways to incorporate Responsible Investment factors in the selection and monitoring of external managers for domestic/foreign equities and fixed income

Latest Report

e-book PDF

※ The 2020 Responsible Investment & Governance Report is included as an annex to the 2020 NPF Annual Report and available on the Publications section on the NPSIM’s website.