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KfW Bankengruppe

PRI reporting framework 2018

You are in Strategy and Governance » Governance and human resources

Governance and human resources

SG 07. RI roles and responsibilities

07.1. Indicate the roles present in your organisation and for each, indicate whether they have oversight and/or implementation responsibilities for responsible investment.

Roles present in your organisation

          senior management

07.2. For the roles for which you have RI oversight/accountability or implementation responsibilities, indicate how you execute these responsibilities.

The sustainability guidelines are implemented via a management system that defines responsibilities and procedures. Overall responsibility for KfW’s sustainability strategy and communications rests with the Chief Executive Officer. The CEO has also been the Executive Board member for environmental issues since November 2014. Together with the respective directors and managing directors of DEG and KfW IPEX-Bank, the CEO also ensures the operational implementation of sustainability issues with regard to sustainable financing and in-house environmental protection. He is assisted by the Group Officer Environment and Sustainability (KUN). The KUN reports to the Chief Executive Officer and advises the Board member for environmental issues on all relevant matters. The KUN is supported by the in-house Environmental Protection Officer and by 15 sustainability officers from the relevant group units. The sustainability officers drive the further development of processes and new financing products, and oversee both inward and outward communication in their units.

The Steering Committee Environment and Climate (KUK) fosters group-wide interaction on financing activities in the area of climate and environmental protection, and provides impetus for the further development of procedures and standards. The KUK is headed by the Board member responsible for environmental issues. Members of the KUK include, among others, the Group Officer Environment and Sustainability as well as the sustainability representatives and the operational managers for specific areas from all market segments of the bank.

Within KfW’s treasury department, a team is fully dedicated to the conception and implementation of responsible investment strategies for KfW’s liquidity portfolio and Green Bond portfolio. The portfolio managers are as well responsible for the implementation of the responsible investment strategies.

The implementation of the responsible investment strategies is supported by ESG data provided by an external service provider.

07.3. Indicate the number of dedicated responsible investment staff your organisation has.

7 Number

07.4. Additional information. [Optional]

SG 07 CC. Climate-issues roles and responsibilities (Not Applicable)

SG 08. RI in performance management, reward and/or personal development

08.1. Indicate if your organisation’s performance management, reward and/or personal development processes have a responsible investment element.

Board members/Board of trustees

Chief Executive Officer (CEO), Chief Investment Officer (CIO),  Investment Committee

Other C-level staff or head of department

          senior management

Portfolio managers

Dedicated responsible investment staff

08.3. Provide any additional information on your organisation’s performance management, reward and/or personal development processes in relation to responsible investment.

08.4. Describe the level of experience board members/trustees/chief-level staff have with incorporating ESG factors into investment decision-making processes.

          The Executive Board member responsible for KfW’s capital market activities and KfW’s Treasurer have been overseeing the development and implementation of the responsible investment approach since KfW became signatory of the PRI in 2006. They are regularly kept informed via internal notes on specific ESG topics (e.g. feedback on the engagement activities with the issuers, results of the PRI assessment, increase of the targeted volume of the KfW Green Bond portfolio, etc.).
In addition, senior management regularly holds speeches about KfW’s responsible investment approach and/or participates in conferences about responsible investment.