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Greenland Financial Holdings Group

PRI reporting framework 2018

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ESG incorporation in actively managed fixed income

Implementation processes

FI 01. Incorporation strategies applied

01.1. Indicate 1) Which ESG incorporation strategy and/or combination of strategies you apply to your actively managed fixed income investments; and 2) The proportion (+/- 5%) of your total actively managed fixed income investments each strategy applies to.

Corporate (financial)
0 Screening alone
0 Thematic alone
0 Integration alone
0 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
100 All three strategies combined
0 No incorporation strategies applied
100%

01.2. Describe your reasons for choosing a particular ESG incorporation strategy and how combinations of strategies are used.

Choose ESG incorporation in any strategies is helpful in defining under-valued investment opportunities and minimize the risk. So our company use ESG incorporation in screening, thematic and integration combined.

We use our investment guidelines incorporated with ESG issues when screening potential projects and we launch thematic funds especially for  new energy industries, TMT, new technology sections.

01.3. Additional information [Optional].


FI 02. ESG issues and issuer research (Private)


FI 03. Processes to ensure analysis is robust

03.1. Indicate how you ensure that your ESG research process is robust:

03.2. Describe how your ESG information or analysis is shared among your investment team.

03.3. Additional information. [Optional]


(A) Implementation: Screening

FI 04. Types of screening applied

04.1. Indicate the type of screening you conduct.

Select all that apply
Corporate (financial)
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

04.2. Describe your approach to screening for internally managed active fixed income

We exclude target companies not qualified with our ESG standards, for certain cities or towns we list them out for non-considerations for investments.

For the companies qualified with our ESG standards, we will also study and research their business performance and their development trends to see whether they will be in accordance with ESG issues to ensure our investment decision will not encounter big changes in a predictable term.   

04.3. Additional information. [Optional]


FI 05. Negative screening - overview and rationale

05.1. Indicate why you conduct negative screening.

Corporate (financial)

Corporate (fin)

05.2. Describe your approach to ESG-based negative screening of issuers from your investable universe.

We exclude target companies not qualified with our ESG standards, for certain cities or towns we list them out for non-considerations for investments. Most of those districts are low GDP, highly polluted, low income and companies in those districts will be heavily influenced by the macro environment which are not good for investment return.

05.3. Additional information. [Optional]


FI 06. Examples of ESG factors in screening process (Private)


FI 07. Screening - ensuring criteria are met

07.1. Indicate which systems your organisation has to ensure that fund screening criteria are not breached in fixed income investments.

Type of screening
Checks
Negative/exclusionary screening?
Norms-based screening

07.2. Additional information. [Optional]


(B) Implementation: Thematic

FI 08. Thematic investing - overview (Private)


FI 09. Thematic investing - themed bond processes

09.1. Indicate whether you encourage transparency and disclosure relating to the issuance of themed bonds as per the Green Bonds Principles, Social Bond Principles, or Sustainability Bond Guidelines..

09.2. Describe the actions you take when issuers do not disburse bond proceeds as described in the offering documents.

So far we haven't met such kind of situation.

But if it had taken places, we will write directly to issuers to ask them to provide a justification and try to understand the reason behind. If serious, we will study to complain the case to offical authorities or industry associations.

09.3. Additional information. [Optional]


FI 10. Thematic investing - assessing impact

10.1. Indicate how you assess the environmental or social impact of your thematic investments

10.2. Additional information. [Optional]


(C) Implementation: Integration

FI 11. Integration overview

11.1. Describe your approach to integrating ESG into traditional financial analysis.

We assess the profit of the invested company with ESG factors to evaluate whether the profit is healthy or not. This could help us to define a true and long term investment opportunities and could also help lock the return if we think the current profit achieves expectation but high risk in the future. 

11.2. Describe how your ESG integration approach is adapted to each of the different types of fixed income you invest in.

Corporate (financial)

for real estate fund, we mostly care about the current execution of the company's business and operation coping with the social and environmental issues.

for high growth and primary stage star-up companies, we mostly care about the culture of the company and the team performance and internal governance.

11.3. Additional information [OPTIONAL]


FI 12. Integration - ESG information in investment processes

12.1. Indicate how ESG information is typically used as part of your investment process.

Select all that apply
Corporate (financial)
ESG analysis is integrated into fundamental analysis
ESG analysis is integrated into security weighting decisions
ESG analysis is integrated into portfolio construction decisions
ESG analysis is a standard part of internal credit ratings or assessment
ESG analysis for issuers is a standard agenda item at investment committee meetings
ESG analysis is regularly featured in internal research notes or similar
ESG analysis is a standard feature of ongoing portfolio monitoring
ESG analysis features in all internal issuer summaries or similar documents
Other, specify

12.2. Additional information [OPTIONAL]


FI 13. Integration - E,S and G issues reviewed

13.1. Indicate the extent to which ESG issues are reviewed in your integration process.

Environment
Social
Governance
Corporate (financial)

Environmental

Social

Governance

13.2. Please provide more detail on how you review E, S and G factors in your integration process.

Corporate (financial)

We will ask for the invested company to provide quarterly and annual reports for us to monitor the development of its business and evaluate its fundmental performance and cashflow.

We will analyse its E,S and G factors in its reports and to study the corelation between those factors and its financial outcome.   

13.3. Additional information.[OPTIONAL]


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