Our internally managed government bond portfolio solely focusses on developed countries. For these countries we only apply exclusionary screening.
Our credit portfolio is subject to the exclusion list (applicable to all asset classes). Besides this, before investing in a company, every company is screened based on financial metrics. The analyst team is shared between equity and FI. ESG related risk issues are also taken into account. Currently, we are working on a reinforcement of the process of ESG-integration in our credit portfolio. The ESG score of every company will be reviewed. In addition, extra in-depth information will be sought. Any ESG-risks that come out of this screening will be taken into account in the decision whether or not to accept the company in the portfolio. Too much ESG risk can be a reason not to invest in a company.
Additionally, we have some investments in green bonds in the portfolio. Green bonds are accepted in the portfolio on the same premises as all other investments.