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Federal Finance

PRI reporting framework 2018

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You are in Strategy and Governance » ESG issues in asset allocation


SG 13. ESG issues in strategic asset allocation


13.1. ポートフォリオレベルで将来のESGトレンドのリスクプロファイルを計算するシナリオ分析やモデリングを組織が実施しているかどうかについて明示してください。


SG 13.1a CC. さまざまな将来の気候シナリオを考慮して、組織の戦略の回復力を説明してください。

          For specific mandates
          Disinvestment of coal-related companies
          Exclusion of companies involved in the coal industry : eg sales > 30% in coal or >30% energy production from coal. Companies financing new coal facilities.
          Investment in companies that do not respect new requirements are frozen. We decide to sell the shares. For bonds, funds managers try to sell them in the best market condition our keep them until their maturity.

13.2. 組織が戦略的な資産配分やセクターまたは地理的な市場間での資産の配分においてESG問題を考慮しているかどうかを記載してください。


13.3. 補足情報 [任意]

SG 14. Long term investment risks and opportunity

14.1. 貴社と貴社の事業活動にとって重要な影響を及ぼしうる短・中・長期的なリスクや機会を決定するプロセスを説明してください。

We try to include SDG's in our ESG analysis. Our approach is to focus on megatreds that can impact investments :

digitalization, urbanization, demography, climate change, access to resources

For each sector, we have determined the impact of that these megatrends could have on the sustainability of business. These megatrends could also help us to identify business opportunities.

14.1 CC. 気候に関連した短期、中期および長期のリスクと機会が、貴社の活動に重大な影響を及ぼす可能性があるかどうかを判断するためのプロセスを説明してください。

As mentionned above, climate change is one of the megatrends that we have identified. Related risks and opportunities are assessed for each sector tha we cover.

14.2. 一部の投資リスクと機会は長期トレンドの結果として発生します。貴社では、以下のどの項目について取り組んでいるか明示してください。

14.2a cc. 「短」、「中」、「長期」をどのように定義するかを記述し、これらの期間にわたる重要な気候関連の問題を説明して下さい。

Short term
          Companies involvment and transparency
          Companies that do not take into account climate change are at risk in a 2° world.
Medium term
          CO2 intensive companies
          We believe that high emitting companies will have to pay for their emissions. Their profitability is at risk if they don't change the way they operate.
Long term
          green products and services
          Investment opportunities will araise with credible solution towards climate change's issues.

14.3. 気候に関するリスクと機会に対応して組織で実施されている活動を選択してください。


          Development of a dedicated Low Carbon methodology. We assess companies' performance regarding their CO2 emissions and the actions taken to reduce them.

14.4. 気候に関するリスクと機会の管理に際して採用している手段を選択してください。


          Tax optimization

14.4a CC. 気候に関連するリスクと機会を評価するために使用されるこれらの重要な指標についての詳細を記入してください。

          a majority of our assets under management
          a majority of our AuM
          doesn't take the scope 3 into account
          a majority of our AuM
          a majority of our AuM
          Compute the average CO2 emissions of a portfolio per million of sales
          Teq CO2
          portfolio weight of the stake in company*(Co2 emissions of the company/ company's sales)
          not available
          a majority of our AuM
          identify high emitting companies
          CO2 emissions / sales
          not available
          some sectors like utilities, energy, transportation

14.6. 補足情報 [任意]

14.7 CC. 気候関連のリスクを特定、評価、管理するためのリスク管理プロセスを挙げてください。


For mandates and portfolios that do have climate-related constraints, our risk management team monitors the respect of these constraints. Each week, they screen portfolio and mandates to be sure that limits are respected. If not, an alert is sent to portfolio managers.

14.8 CC. 気候関連のリスクを優先させるためのプロセスを説明してください。

We have prioritised climate-related risks regarding their financial materiality. Risks that can have an impact on financial valorisation are given more importance.

14.9 CC. 気候関連のリスクに関するより良い情報開示と実践を促すために、投資先企業とのエンゲージメント活動を行っていますか?


In accordance with our engagement policy, we will engage with companies that do not respect our ESG requirement. A low level of disclosure can be a reason to launch engagement.

Recently, we took part in the Climate Action 100+ initiative to engage with companies and to apply TCFD recommendations.

14.10 CC. 気候関連の開示データをどのように使用するかを説明してください。

Those data are implemented in our ESG rating tool.

SG 15. Allocation of assets to environmental and social themed areas (Private)