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Sparinvest S.A.

PRI reporting framework 2017

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Promoting responsible investment

SG 09. Collaborative organisations / initiatives

New selection options have been added to this indicator. Please review your prefilled responses carefully.

09.1. Select the collaborative organisation and/or initiatives of which your organisation is a member or in which it participated during the reporting year, and the role you played.

Select all that apply

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Sparinvest acted as joint leading investor in a collaborative engagement on Human Rights in the Extractive Industries, facilitated by PRI.

We also acted as lead investor in the Sustainable Stock Exchanges Initiative, in dialog with Luxembourg Stock Exchange.

We recommited to the Montreal Carbon Pledge on behalf of 2 ethical equity funds, and carbon footprinted our ethical high yield bond fund, which we also commited to the Pledge.

We also signed the PRI Statement on ESG in Credit Ratings.

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

We continue to assess the optimal ways to utilise our ICGN membership.

          Eurosif
        

Your organisation’s role in the initiative during the reporting period (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Sparinvest has been a member of Eurosif since 2010, and is currently a corporate Individual Member. Sparinvest also holds a position in the Eurosif Stakeholder Working Group. In this capacity, during 2016, we commented on Eurosif's Policy Position on the Capital Markets Union Action Plan. Eurosif's CMU Manifesto seeks to promote:

  • Transparency via mandatory ESG disclosure
  • Clear definition of fiduciary duty as inclduing ESG issues
  • Legislative coherence in promoting sustainable long-term investment
  • Long-term infrastructure investment.

In addition, we were awarded the Eurosif Transparency labels for four funds, which were: Sparinvest - European Value, Sparinvest - Global Value, Sparinvest - Ethical Global Value and Sparinvest - Ethical Emerging Markets Value.

          Association of the Luxembourg Funds Industry (ALFI)
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Sparinvest’s Head of Responsible Investment is also a member of ALFI Responsible Investment Committee. The aim of this group is to promote the development of Responsible Investment funds in Luxembourg. During 2016, this group within ALFI was charged with drafting a response on behalf of the Luxembourg fund industry to the European Commission’s consultation paper on long-term and sustainable investment.

Sparinvest also sits on the Marketing Sub-Committee that organises ALFI’s various RI and Impact investing events throughout Europe.

Another ALFI initiative is the Luxembourg Finance Labelling Agency (LuxFLAG) which is designed to identify funds that make have high ESG standards. In 2016, Sparinvest - Ethical Global Value was re-awarded the LuxFLAG ESG label in 2016 and Sparinvest - Ethical Emerging Markets also received a first ESG label. Please find more about our latest ESG label on the webside of LuxFLAG:  http://www.luxflag.org/pages/news-detail.html?newsidcatsideback=1&newsstartmonth=10&newsmonthback=-1&newsidarticle=53&newscategory=0&newspage=1

          DANSIF
        

Your organisation’s role in the initiative during the reporting year (see definitions)

Provide a brief commentary on the level of your organisation’s involvement in the initiative. [Optional]

Member of DANSIF. We participate in 3-4 meetings a year.


SG 10. Promoting RI independently

10.1. Indicate if your organisation promotes responsible investment, independently of collaborative initiatives.

10.2. Indicate which of the following actions your organisation has taken to promote responsible investment, independently of collaborative initiatives.

10.3. Describe any additional actions and initiatives that your organisation has taken part in during the reporting year to promote responsible investment [Optional]

During 2016 Sparinvest has continued to promote acceptance and implementation of responsible investment both within the investment industry and to the broader investing public. For example, we presented at a Responsible Investment Workshop in the Netherlands which sought to educate the sales team of an international insurer.

Our backtesting of correlations between good ESG ratings and good investment performance received significant coverage in the Danish mainstream media, including Børsen, TV2 Business and Berlingske.

In an article for AGEFI, the Luxembourg Business Newspaper, we explained the basic concepts of responsible investment. Two articles appeared in the Japanese online financial news platform, Quick, describing the benefits of the constructive dialogue between Sparinvest and telecoms giant NTT as part of the PRI-coordinated anti-bribery and corruption engagement. The first was an interview with NTT describing the benefits that they had experienced as a result of engagement (including being admitted to the Dow Jones Sustainability Asia Index) and the second was an interview with Senior Portfolio Manager and RI Committee Member, David Orr, on the subject of what benefits engagement can bring to both companies and investors.

In addition, Sparinvest - Ethical Global Value was re-awarded the LuxFLAG ESG label in 2016 and Sparinvest - Ethical Emerging Markets received a first ESG label.=This labelling initiative is intended to focus on funds and mandates supporting high ESG standards


SG 11. Dialogue with public policy makers or standard setters (Private)


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