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You are in Direct - Fixed Income » Outputs and outcomes
Analysis of ESG related risks is an integral part of the risk/return analysis made by our fixed income investment team. In a specific case in 2017, the fixed income team believed that the spread offered on a new issue was insufficient to compensate for the present ESG risks of this specific company (in this case labor rights). Hence, the team decided not to invest in this security, and is monitoring the situation.
In this case we decided not to invest in this specific security.
Development of inclusion policy
The inclusion policy applies both to Listed Equity and Fixed Income Corporates. In 2017 we have started with the assessment of the companies in the first sectors. At the end of the year we have completed this assessment for large cap companies in six sectors within Developed Markets and three sectors in Emerging Markets. In total 593 companies have been assessed, and 478 have been assessed as ‘Leader’ and 115 as ‘Laggard’. 22 of those laggards have been assigned as a promising company, and we will start to engage with those companies with the aim of improving them.