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BB DTVM

PRI reporting framework 2019

You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (C) Implementation: Integration

(C) Implementation: Integration

FI 10. Integration overview

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

We engage with debt issuers, carry out awareness-raising actions, and encourage companies to improve the quality and quantity of ASG information publicly available on their corporate websites. Investors are aware that this information is evaluated and will influence the final outcome of the credit analysis.


We penalize issuers that do not meet the ESG criteria, in addition to the company's traditional financial analysis  the ASG issues have an impact on the credit offer.
 

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

Corporate (financial)

We engage with debt issuers, carry out awareness-raising actions, and encourage companies to improve the quality and quantity of ASG information publicly available on their corporate websites. Investors are aware that this information is evaluated and will influence the final outcome of the credit analysis.


We penalize issuers that do not meet the ASG criteria, in addition to the company's traditional financial analysis  the ASG issues have an impact on the credit offer.

Corporate (non-financial)

We use the same criteria for all.

10.3. Additional information [OPTIONAL]


FI 11. Integration - ESG information in investment processes

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

Select all that apply
Corporate (financial)
Corporate (non-financial)
ESG analysis is integrated into fundamental analysis
ESG analysis is used to adjust the internal credit assessments of issuers.
ESG analysis is used to adjust forecasted financials and future cash flow estimates.
ESG analysis impacts the ranking of an issuer relative to a chosen peer group.
An issuer's ESG bond spreads and its relative value versus its sector peers are analysed to find out if all risks are priced in.
The impact of ESG analysis on bonds of an issuer with different durations/maturities are analysed.
Sensitivity analysis and scenario analysis are applied to valuation models to compare the difference between base-case and ESG-integrated security valuation.
ESG analysis is integrated into portfolio weighting decisions.
Companies, sectors, countries and currency and monitored for changes in ESG exposure and for breaches of risk limits.
The ESG profile of portfolios is examined for securities with high ESG risks and assessed relative to the ESG profile of a benchmark.
Other, specify

11.2. Additional information [OPTIONAL]


FI 12. Integration - E,S and G issues reviewed

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

Environment
Social
Governance
Corporate (financial)

Environmental

Social

Governance

Corporate (non-financial)

Environmental

Social

Governance

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

Corporate (financial)

In our process, we review ESG factors annually. However, we also review when of events that may impact the classification of the company.

Corporate (non-financial)

In our process, we review ESG factors annually. However, we also review when of events that may impact the classification of the company.

12.3. Additional information.[OPTIONAL]


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