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BanSabadell Pensiones E.G.F.P., S.A.

PRI reporting framework 2019

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You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income

ESG incorporation in actively managed fixed income

Implementation processes

FI 01. Incorporation strategies applied

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.
SSA
0 Screening alone
0 Thematic alone
0 Integration alone
100 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%
Corporate (financial)
0 Screening alone
0 Thematic alone
0 Integration alone
15 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
85 No incorporation strategies applied
100%
Corporate (non-financial)
15 Screening alone
0 Thematic alone
0 Integration alone
15 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
70 No incorporation strategies applied
100%

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

Índice de Sostenibilidad del Dow Jones y la base de datos Diego / Eiris.

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:

specify description 

          We use Dow Jones Sustainability Index and Diego/Eiris database

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

          We use Dow Jones Sustainability Index and Diego/Eiris database

03.3. Additional information. [Optional]

The pension plans are subject to a review by a review financial auditor to guarantee the ASG criteria

(A) Implementation: Screening

FI 04. Types of screening applied

04.1. Indicate the type of screening you conduct.

Select all that apply
SSA
Corporate (financial)
Corporate (non-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

La base de datos Dow Jones Sustainability Indez y Diego / Eiris.

04.3. Additional information. [Optional]

FI 05. Examples of ESG factors in screening process (Private)

FI 06. Screening - ensuring criteria are met

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

Type of screening
Checks
Positive/best-in-class screening

other description 

          We use Dow Jones Sustainability Index and Diageo/Eiris database

06.2. Additional information. [Optional]

The pension plans are subject to a review by a review financial auditor to guarantee the ASG criteria

(B) Implementation: Thematic

FI 07. Thematic investing - overview (Not Applicable)

FI 08. Thematic investing - themed bond processes (Not Applicable)

FI 09. Thematic investing - assessing impact (Not Applicable)

(C) Implementation: Integration

FI 10. Integration overview

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

Utilizamos Dow Jones Sustainability Index y la base de datos Diego / Eiris.

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

SSA

Utilizamos Dow Jones Sustainability Index y la base de datos Diego / Eiris.

Corporate (financial)

Utilizamos Dow Jones Sustainability Index y la base de datos Diego / Eiris.

Corporate (non-financial)

Utilizamos Dow Jones Sustainability Index y la base de datos Diego / Eiris.

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
SSA
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]

ESG analysis for issuers is a standard item on the agenda at investment committee meetings

 

The portfolios of the pension plans must have an average score of 70% of the Dow Jones Sustainability index
 

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
SSA

Environmental

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.

SSA

Índice de Sostenibilidad del Dow Jones y la base de datos Diego / Eiris.

Corporate (financial)

Índice de Sostenibilidad del Dow Jones y la base de datos Diego / Eiris.

Corporate (non-financial)

Índice de Sostenibilidad del Dow Jones y la base de datos Diego / Eiris.

12.3. Additional information.[OPTIONAL]

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