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ENPAP - Ente Naz. Prev. e Ass. Psicologi

PRI reporting framework 2020

You are in Strategy and Governance » ESG issues in asset allocation

ESG issues in asset allocation

SG 13. ESG issues in strategic asset allocation

13.1. Indicate whether the organisation carries out scenario analysis and/or modelling, and if it does, provide a description of the scenario analysis (by asset class, sector, strategic asset allocation, etc.).

Describe For ENPAP the scenario analyis incorporates a broad range of macro trends, with a focus on climate change, which is one of the most important drivers to reflect today’s decisions prospectively and to adjust them in a future-oriented and sustainable way.

13.2. Indicate if your organisation considers ESG issues in strategic asset allocation and/or allocation of assets between sectors or geographic markets.

We do the following

          The asset allocation is built implementing the ESG piolicy of ENPAP, in terms of investable sectors and countries.
        

13.3. Additional information. [OPTIONAL]


SG 13 CC.


SG 14. Long term investment risks and opportunity

14.1. Some investment risks and opportunities arise as a result of long term trends. Indicate which of the following are considered.

14.2. Indicate which of the following activities you have undertaken to respond to climate change risk and opportunity

14.3. Indicate which of the following tools the organisation uses to manage climate-related risks and opportunities.

14.4. If you selected disclosure on emissions risks, list any specific climate related disclosure tools or frameworks that you used.

ENPAP discloses the data of Carbon Footprint analysis and the corporates positioning in terms of tow carbon economy transition, identifying the weakest companies, which are those issuers that are far from the adoptionb of an enrivonmental policy mitigating the coe emissions.

14.5. Additional information [Optional]


SG 14 CC.

14.6 CC. Provide further details on the key metric(s) used to assess climate-related risks and opportunities.

Metric Type
Coverage
Purpose
Metric Unit
Metric Methodology
Carbon footprint (scope 1 and 2)
          It represents the normalized emissions of a portfolio per million euro invested. In other words, it shows the carbon footprint of each million of euro invested.
        
          t CO2eq/€M
        
          For Equity portfolio Scope 1 and Scope 2 GHG emissions are allocated using the equity ownership approach.

For Bond portfolio emissions are allocated to the total issuer’s outstanding debt (emissions are allocated to lenders) - the ownership approach is applied but from the debt/lender perspective. 

∑(M€ invested / Total Assets)*CF/Total portfolio investment = t CO2eq/€M
        
Portfolio carbon footprint
          The absolute greenhouse gas emissions associated with a portfolio, expressed in tons
CO2e.
It is used to communicate the carbon footprint of a portfolio, to track changes in GHG emissions in the portfolio and for portfolio decomposition and attribution analysis.
        
          t CO2eq
        
          For Equity portfolio Scope 1 and Scope 2 GHG emissions are allocated using the equity ownership approach.

For Bond portfolio emissions are allocated to the total issuer’s outstanding debt (emissions are allocated to lenders) - the ownership approach is applied but from the debt/lender perspective. 
∑(M€ invested / Total Assets)*CF = t CO2eq
        
Total carbon emissions
          Assessment of the exposure in fossil fuel activities such as tar sands and oil shale, coal mining, coal fuelled powered generation etc.
        
          % of investments
        
          This metric focuses on a portfolio’s exposure to sectors and industries considered the
most GHG emissions intensive

(∑current value of investments in companies with fossil fuel exposure/
current value of the portfolio) *100
        
Carbon intensity
          This measure represents the absolute emissions of the average company financed by the investor
        
          t CO2eq
        
          Scope 1 and Scope 2 GHG emissions are allocated
based on portfolio weights.

∑weight in portfolio*CF = t CO2eq
        

14.8 CC. Indicate whether climate-related risks are integrated into overall risk management and explain the risk management processes used for identifying, assessing and managing climate-related risks.

Please describe

The assessement iof the Climate risk is a tool of awarness and engagement, until the ENPAP Boards will decide to integrate the E risk into the risk management evaluation.

14.9 CC. Indicate whether your organisation, and/or external investment manager or service providers acting on your behalf, undertake active ownership activities to encourage TCFD adoption.


SG 15. Allocation of assets to environmental and social themed areas

15.1. Indicate if your organisation allocates assets to, or manages, funds based on specific environmental and social themed areas.

15.2. Indicate the percentage of your total AUM invested in environmental and social themed areas.

3 %

15.3. Specify which thematic area(s) you invest in, indicate the percentage of your AUM in the particular asset class and provide a brief description.

Area

Asset class invested

1 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

A fund of infrastrucutre is totally (100%) invested in renewable energy

Asset class invested

2 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

Two property buildings are green and  totally internally managed

Asset class invested

0.4 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

A  dedicated fund is invested in microfinance

15.4. Please attach any supporting information you wish to include. [OPTIONAL]



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