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Suva

PRI reporting framework 2020

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Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

Our investment objective is to secure sustainable long-term returns. Therefore, we have chosen to incorporate ESG criteria during the screening and due diligence process for investments. In making investment decisions, we are primarily responsible to the companies and their employees insured by us whose interests can be characterized as those of the Swiss public. Our incorporation of ESG criteria must be in the interest of the Swiss public. Aligning an investment decision with ESG criteria involves some subjective judgement and it was a challenge to find a process to incorporate ESG criteria into investment decisions that maximizes the likelihood of representing the interests of the Swiss public by relying on generally accepted norms as stated above.

Our investment strategy targets companies and investment managers with a business model, respectively an investment approach, that is sustainable in the long term and that incorporate ESG issues into their decision processes.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

As one of the larger investors in Switzerland, our domestic investment decisions have more impact than decisions abroad. Therefore, we have a stronger focus on responsible investing in our home market.

For many activities in relation to responsible investment, we collaborate with SVVK-ASIR (e.g., for engagement and exclusion list). SVVK-ASIR was founded in December 2015 and its exclusion and engagement processes were subsequently defined. Formal engagements began in 2017. In March 2017, an exclusion list was officially established, and Suva implemented it in June 2017, substituting it for the previous internally determined exclusion list. Suva is a founding member of SVVK.

Our strong domestic position gives us the possibility to frequently meet the management of Swiss companies. In these meetings, our portfolio managers discuss ESG measures with management and encourage the adoption of ESG measures that fit well to their business models on a long-term basis.

Our large portfolio of investments in Swiss property follows the same process. Although Swiss building law already sets very high ecological and social standards for properties, we go one step further by additionally rating our buildings on ecological criteria and undertaking investments in our buildings to further improve their ecological performance.

Suva has a zero-carbon emission target for 2050 with respect to its real estate holdings and has pledged to reduce energy intensity per sqm by 35% by 2023 from 2016.

01.6. Additional information [Optional].

          
        

SG 01 CC. Climate risk (Private)


SG 02. Publicly available RI policy or guidance documents

 

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

URL/Attachment

URL/Attachment

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Additional information [Optional].

Reporting: we refer to the fact that we report Suva’s voting record in our website.


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Suva has a broad range of measures in place to mitigate potential conflicts of interest:

-employees of the Finance Department in the asset management area are subject to rules regarding their personal trading (personal trading of randomly selected employees is audited annually)

-Chinese Walls have been established between Investment Teams

-internal processes ensure compliance with guidelines on money laundering

-employees in the Finance Department and related functions are required to annually confirm their compliance with relevant laws, regulations and internal rules, which among others, include the avoidance of conflicts of interest

-an automated process to evaluate the quality of trade execution

-periodic training of the staff

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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