We consider our ESG integration approach adapted to our investments into SSA because not only we integrate into our analysis third party ESG research provided by brokers, rating agencies and independent data sources such as “Debtwire”, which carries out background checks of key management bodies, but we also focus additionally on co-operation with supranational risk assessment bodies such as the financial action task force (FATF) on money laundering and tax evasion.  

We consider our ESG integration approach adapted to our investments into Corporate (Financial) because during our analysis we assess not only the historical ESG track record for the purpose of potential investment exclusions but also efforts carried out by management to improve their ESG score with an attempt to reward improving managements. 

For both banks and non-financial corporates, analysis is achieved through a combination of reviewing corporate/bank publications such as annual reports, new issue presentations and website disclosures, direct questioning to management and a review of third party ESG research provided by brokers, rating agencies and independent data sources such as “Debtwire”, which carries out background checks of key corporate managements.

We consider our ESG integration approach adapted to our investments into Corporate (non-Financial) because during our analysis we assess not only the historical ESG track record for the purpose of potential investment exclusions but also efforts carried out by management to improve their ESG score with an attempt to reward improving managements. 

For both banks and non-financial corporates, analysis is achieved through a combination of reviewing corporate/bank publications such as annual reports, new issue presentations and website disclosures, direct questioning to management and a review of third party ESG research provided by brokers, rating agencies and independent data sources such as “Debtwire”, which carries out background checks of key corporate managements.

For all fixed income investments integrated into our portfolios a due diligence process is carried out ahead of investment. Traditionally this follows the framework of analysis of business risk, financial risk and affiliation risk of the bond issuer. By analyzing publications from Sell-side analysts, rating agencies, independent data sources, Supranational Risk Assessment bodies such as the Financial Action Task Force we can have a fair view on E, S and G indicators per SSA issuer. With an increasing market sensitivity to ESG risks, this analysis (for example exposure to changes in environmental regulation) is also incorporated in our business risk assessment as well. 

It should also be noted that while some investment exclusions or sector weightings are incorporated, this must be balanced against a fiduciary duty to maintain high diversification of the portfolio to reduce any concentrated credit exposure. 

For all fixed income investments integrated into our portfolios a due diligence process is carried out ahead of investment. Traditionally this follows the framework of analysis of business risk, financial risk and affiliation risk of the bond issuer. By analyzing publications from Sell-side analysts, rating agencies, independent data sources, corporate publications, new issue presentations, website disclosures and Supranational Risk Assessment bodies such as the Financial Action Task Force we can have a fair view on E, S and G indicators per Corporate (Financial) issuer. With an increasing market sensitivity to ESG risks, this analysis (for example exposure to changes in environmental regulation) is also incorporated in our business risk assessment as well. 

It should also be noted that while some investment exclusions or sector weightings are incorporated, this must be balanced against a fiduciary duty to maintain high diversification of the portfolio to reduce any concentrated credit exposure. 

For all fixed income investments integrated into our portfolios a due diligence process is carried out ahead of investment. Traditionally this follows the framework of analysis of business risk, financial risk and affiliation risk of the bond issuer. By analyzing publications from Sell-side analysts, rating agencies, independent data sources, corporate publications, new issue presentations, website disclosures and Supranational Risk Assessment bodies such as the Financial Action Task Force we can have a fair view on E, S and G indicators per Corporate (non-Financial) issuer. With an increasing market sensitivity to ESG risks, this analysis (for example exposure to changes in environmental regulation) is also incorporated in our business risk assessment as well. 

It should also be noted that while some investment exclusions or sector weightings are incorporated, this must be balanced against a fiduciary duty to maintain high diversification of the portfolio to reduce any concentrated credit exposure.