We engage with companies and institutions to drive positive change. Where appropriate, we discuss issues about governance, environmental and social topics relevant to their specific business models and stakeholder groups. We explore their perspectives, policies, and business practices around our impact themes and minimum standards to understand the depth of the company’s commitments around sustainability. Direct We engage in direct conversations with companies to discuss relevant business topics and to use our influence to drive sustainable change. We use a variety of methods to connect with companies, including on-site visits, conference calls, letters, and email. Examples of direct conversation . The fund had dialogue with BMW and Renault to discuss their progress on key ESG challenges for the automotive industry, such as reducing the environmental footprints of vehicle manufacturing and product end-use, as well as lobbying to prevent stricter environmental regulation continues to be a topic for engagement with these companies. Earlier in the year, Robeco engaged, on behalf of the fund and other investors, with BMW about the company’s sustainability priorities, and several recent controversies, including its alleged involvement in testing vehicle emissions impact on humans and monkeys . Letter sent to Evonik to inquire about potential involvement in animal testing and products related to pesticides. The company provided adequate answers and the company remains selected for investment . Dialogue with ADIF-Alta Velocidad during the screening of the company. The financial and non-financial reporting of the bond to be issued was discussed in detail . Call with SAP to follow-up on our season letter and further discuss the company’s approach to non-financial disclosure and integrated reporting Collaborative We also jointly engage with other institutional investors. This method increases visibility of the topics being discussed and expands the overall power of our engagement activity. Examples of collaborative engagement Deutsche Telekom AG reported to the RE100, of which the fund is an investor signatory, that it is currently working on a post-2020 climate target and evaluating the ‘Science Based Targets’ (SBT) approach as guidance to use for setting emission reduction targets. New targets will include measures related to renewables, efficiency and electric mobility. The SBT approach helps companies to set credible emissions reduction targets based on the latest climate science insights and in line with international climate agreements. Meeting with ASML, as part of a Principles for Responsible investment (PRI) joint investor engagement project on tax, to discuss the company’s tax policy and improvements in its tax reporting. Call with Toyota Motor Corporation and two other investors from the investor group on child labour in the cobalt supply chain. Toyota reports to be working together with the Responsible Minerals Initiative and also with a joined initiative of the European automotive industry that aims to work on supply chain risks. A follow-up call with Toyota to hear more details will take place this year. Meeting with DSM in the context of the regular dialogue of Dutch institutional investor platform Eumedion with the company. Remuneration, diversity, the use of renewable resources, and efforts to report on impact in the context of the UN Sustainable Development Goals (SDGs) were discussed. Triodos’ public voice Part of our responsibility as an impact investor is to publicly state our opinions and take stands on important sustainability related topics. We actively participate in key discussions around sustainable finance and investment across the public domain. Examples of Triodos' public voice Public response to the European Commission’s proposal for Sustainable Finance legislation. Active development and participation in public debate around the content of the Belgian Febelfin fund labeling scheme. We also participate in local and regional panel discussions to encourage the industry for increased positive impacts.