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Sparda-Bank Muenchen eG

PRI reporting framework 2018

You are in Strategy and Governance » Asset class implementation not reported in other modules

Asset class implementation not reported in other modules

SG 16. ESG issues for internally managed assets not reported in framework

Describe how you address ESG issues for internally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Cash

Hold cash only at Deutsche Bundesbank (inavoidable due to legal obligations) and at DZ BANK, which has one of the best ESG Ratings Europe-wide.

16.2. Additional information [Optional].

As we stated before, all our assets - like all our business operations - must be in line with our ESG guidelines, regardless if there is a module yet to be developed or not.


SG 17. ESG issues for externally managed assets not reported in framework

17.1. Describe how you address ESG issues for externally managed assets for which a specific PRI asset class module has yet to be developed or for which you are not required to report because your assets are below the minimum threshold.

Asset Class

Describe what processes are in place and the outputs or outcomes achieved

Private equity

We have one private equity investment, which we have longer as we are PRI signatory. We would like to sell this private equity fund for a lack of transparency. We do not have signs that this fund does not comply with our internal regulations for sufficient sustainability. But we can not look into sustainability matters of this fund deeply enough to safeguard our sustainability criteria. Selling this investment is impossible due to not having any fair and reasonable bids (if at all).
As long as we can not look deeply enough in such investments, we completely avoid investing there. Occasionally we look into possible investments of private equity firms, but we have not found any investment opportunities with sufficient transparency.
"We do not go were we cannot look".

We have bought another private equity investment in 2017, the recent value is slightly above 1.1 Mio. EUR. Although there is no strict exclusion policy in power, for us it is very unlikely that sub-investments are made that collide with our general exclusion policy. This investments also gives us the opportunity to intensify the dialogue on ESG issues with the investment manager.

17.2. Additional information.


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