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PRI reporting framework 2020

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ESG incorporation in actively managed listed equities

Implementation processes

LEI 01. Percentage of each incorporation strategy

01.1. Indicate which ESG incorporation strategy and/or combination of strategies you apply to your actively managed listed equities; and the breakdown of your actively managed listed equities by strategy or combination of strategies.

ESG incorporation strategy (select all that apply)

Percentage of active listed equity to which the strategy is applied — you may estimate +/- 5%
100 %
Total actively managed listed equities 100%

01.2. Describe your organisation’s approach to ESG incorporation and the reasons for choosing the particular strategy/strategies.

Until June 2017, in accordance with our internal ESG guidelines, we screened our portfolios to identify companies which violated ESG principles and excluded them from our portfolios if there was sufficient evidence of wrongdoing.

After June 2017, there was a successful implementation of the outsourcing of the screening process to get a fully independent judgement and to pool the resources for this process together with other large Swiss investors. A further benefit of acting in cooperation with others is that a greater emphasis can be put on engagement with critical companies before excluding them. The process of selecting critical companies, engaging with them and possibly putting them on an exclusion list is carried out by the SVVK-ASIR directly. This has the advantage that a consistent responsible investing approach is generally applied by all of the members and that the SVVK-ASIR can apply more pressure to critical companies.

During 2019 the association continued its screening and monitoring of its members' portfolios. In this process, all of the association's members need to agree on the concrete measures to be taken with the identified, non-ESG-compliant companies. The first exclusion list was officially established in March 2017 and Suva continued to implement an updated version of it during 2019. At the end of the reporting year, there were 19 companies in this list. 

In addition, we integrate Governance criteria into our traditional financial analysis because we believe that they help us to identify companies that will be profitable in the long run. Accordingly, we also focus our analysis on the long-term prospects of the companies while considering that short-term costs incurred for sustainability measures will benefit society and the companies in the long term.

01.3. If assets are managed using a combination of ESG incorporation strategies, briefly describe how these combinations are used. [Optional]

LEI 02. Type of ESG information used in investment decision (Private)

LEI 03. Information from engagement and/or voting used in investment decision-making (Private)

(A) Implementation: Screening

LEI 04. Types of screening applied

04.1. Indicate and describe the type of screening you apply to your internally managed active listed equities.

Type of screening

Screened by

          Swiss Constitution, Swiss Laws and Regulations, and the international conventions that Switzerland has ratified on the Environment, Human Rights, Labor Rights, Governance and Banned Weapons.


The exclusion list that Suva adopts is the one established by the SVVK-ASIR.

From SVVK-ASIR website (© "By using methods of screening and monitoring of the investment universe of its members, SVVK-ASIR identifies problematic companies based on ESG criteria – the focus being on foreign and international companies. Companies classified as problematic serve as the subject matter to start a purposeful engagement process. Specialized external investment providers with the relevant network and expertise are appointed to engage with the companies."

According to SVVK-ASIR, if direct dialogue has taken place with a company identified as problematic, and no improvement has occurred, SVVK-ASIR reserves the right to include the company on an exclusion list.

Producers of certain types of weapons banned by Swiss law and international conventions on banned weapons signed by Switzerland (e.g., "Treaty on the Non-Proliferation of Nuclear Weapons", "Convention on the Prohibition of the Use, Stockpiling, Production and Transfer of Anti-Personnel Mines and on their Destruction", etc.) are strictly excluded.

Suva's screening approach further consists of abiding by the legal sanctions and embargos decided upon by the Swiss government against countries, institutions and companies.


04.2. Describe how you notify clients and/or beneficiaries when changes are made to your screening criteria.

Suva started to use the SVVK-ASIR exclusion list for the first time in June 2017. Great efforts have been made to define the new association's exclusion and engagement processes and a revised process became effective in the first months of 2017. Until the revision was implemented, our process used our internally generated exclusion list.

We review our exclusion decisions as soon as SVVK-ASIR updates the exclusion list, generally every 6 months.

The SVVK-ASIR exclusion list and more details on the association's screening criteria can be found on its website ( ).

LEI 05. Processes to ensure screening is based on robust analysis

05.1. Indicate which processes your organisation uses to ensure ESG screening is based on robust analysis.

05.2. Indicate the proportion of your actively managed listed equity portfolio that is subject to comprehensive ESG research as part your ESG screening strategy.

05.3. Indicate how frequently third party ESG ratings are updated for screening purposes.

05.5. Additional information. [Optional]

ESG ratings from an external service provider were used until June 2017 to make exclusions decisions internally before we decided to adopt the exclusion list established by the SVVK-ASIR.

LEI 06. Processes to ensure fund criteria are not breached (Private)