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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
| Sept. 2006 | Launched externally-managed RI funds for domestic equities |
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| 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
※ 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.