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Santander Pensiones, Entidad Gestora de Fondos de Pensiones, S.A. (Delisted)

PRI reporting framework 2020

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

We follow Grupo Santander's Defence Policy in all of our investment products as the first line of action of our Responsible Investment approach.

The SRI policy defines SAM’s ESG assessment, which takes into account different components:

  • A valuation analysis where the behaviour of issuers is assessed in relation to different ESG  factors. For this assessment, SAM uses the information provided by external data providers, incorporating it into its own valuation methodology designed by the SRI team and based on market references and main international frameworks and standards resulting in an ESG rating of each issuer.
  • Exclusions based on the nature of the activities carried out by the issuers or on the identification of risks through the monitoring of possible controversial news.

The ESG assessment of companies (fixed income corporates) is composed of general analysis criteria - common to all sectors - and specific criteria - depending on the sector and activity - covering all relevant ESG aspects (e.g. Climate change, Natural resources, Human Capital, Labour Rights, Corporate Governance, Business Ethics, etc.)

In addition, the analysis of governments takes into account ESG criteria adapted to countries (e.g. Climate change, Natural capital, Education, Health & Nutrition, Civil Rights, etc.)

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

          Exclusion list sent regularly to fund managers and compliance to avoid investment in these companies.
        

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
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

We exclude all issuers forbidden by Santander Group’s Defence Policy.

Additional exclusionary criteria that can be taken into account in the products are:

  • Controversial activities: tobacco, gambling, pornography, alcohol, etc.
  • Controversies or not compliance with international norms related to human rights, labour rights, etc.

We use ESG information from an external data provider and assess companies/governments with our in-house methodology. We obtain a final ESG rating for each issuer.

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
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

06.2. Additional information. [Optional]


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