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S-Bank Plc.

PRI reporting framework 2020

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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes

実施プロセス

LEI 01. Percentage of each incorporation strategy

01.1. 以下を記載してください。(1)組織でのアクティブ運用上場株式にどのESG組み入れ戦略や組み合わせを使用しているか(2)アクティブ運用している上場株式の戦略または戦略の組み合わせ別内訳

ESG組み入れ戦略 (当てはまるものをすべてお選びください)
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
1 %
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
99 %
アクティブ運用している上場株式の合計 104%

01.2. 組織が実施しているESG組み入れアプローチ、および、特定のESG組み入れ戦略を選択している場合はその理由を説明してください。

We consider responsible investing as part of our fiduciary duty. We find responsibility as a competition factor for companies. Responsibility assessment can provide information on the risks and opportunities that could potentially affect the company’s financial performance in the future, for example, through changes in sales or expenses. These impacts can be triggered by, among other things, changes in legislation or consumption habits that result from a phenomenon or activity associated with responsibility. 

ESG integration refers to the consideration of ESG matters (environment, society and governance) in investment analysis and decision-making. Following the identification of substantial ESG issues, the purpose of ESG integration is to assess a company's ability to take into consideration the risks and opportunities associated with these and to assess whether the price of company's securities reflect these factors. Portfolio managers are supported in ESG integration by high-quality ESG assessments and ratings produced by third parties. We also collect ESG information ourselves, for example, discussing relevant responsibility issues in meetings with company management. Our portfolio managers meet company representatives on a daily basis. There are hundreds of meetings like these every year. In addition to assessments carried out by third parties, our country analysis utilises country-specific ESG factors included in our own country-risk model.

We are interested in the performance of our investments in terms of initiatives and principles concerning general international business practices and responsibility-related norms. We observe, for example, the UN Global Compact and the OECD Guidelines for Multinational Enterprises. The UN Global Compact contains principles related to human rights, labour and corruption. The human rights principles include the eradication of forced and child labour. We have access to comprehensive analysis and ratings by third parties. These help us monitor the compliance of the companies we have invested in with international codes of practice. When considering an investment, our portfolio manager checks the company’s compliance with international norms. If there are serious problems with compliance, we can start to engage, monitor the company or exclude it from our investment options. However, our priority is to improve the company's responsibility performance and to eliminate risks resulting from questionable activities. Screens that rely on external data and analysis, are run regularly in addition to the checks that are done before making a new investments.

01.3. ESG組み入れ戦略の組み合わせを使用して資産を運用している場合、ESG戦略の組み合わせをどのように使用しているかを簡単に説明してください。 [任意]

First we screen out categorial exclusions from the investment universe. Thereafter from a somewhat reduced universe ESG integration is used when analysing companies for stock selection and portfolio construction.


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) 実施:スクリーニング

LEI 04. Types of screening applied

04.1. 組織内でアクティブ運用している上場株式に適用するスクリーニングの種類を記載し、説明してください。

スクリーニングの種類

スクリーニング実行者

説明

Product and activity based exclusion. We exclude companies in certain clearly defined business segments from our direct investments. We do not invest in manufacturers of weapons prohibited by international treaties, including nuclear, biological and chemical weapons, cluster munitions and anti-personnel mines. We do not invest in producers of tobacco or producers of cannabis intended for recreational use either. We use external experts for identifying the companies that fall within the above categories. Based on our own analysis, we have excluded mining and power companies whose business is strongly coal-based. We exclude mining companies if coal used for energy production accounts for more than 20 % of their turnover. In the case of electricity companies, we have first calculated the coal-intensity of their electricity production and then more carefully examined the source of the emissions of the most coal-intensive companies.

When it comes to companies' ESG related practice and performance, exclusion can be made if there are serious problems in corporate practice.

スクリーニング実行者

説明

We have five funds where there are pre-set requirements on ESG rating. In these cases companies' ratings have to be above a certain level. ESG ratings consist of E, S and G.

スクリーニング実行者

説明

We use information provided by MSCI ESG Research to conduct the screening.

04.2. スクリーニング基準が変更された場合に顧客や受益者に通知する方法について説明してください。

Screening criterion and principles are defined in our ESG policy. If the policy is updated, we will make the new information publicly available.


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

05.1. スクリーニングが徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを選択してください。

05.2. ESGスクリーニング戦略の一環で包括的なESG調査の対象となるアクティブ上場株式ポートフォリオの割合を示してください。

05.3. 第三者のESG評価がスクリーニング目的で更新される頻度を示してください。

05.5. 補足情報 [任意]

We compare ESG research providers' offerings from time to time for example in terms of quality and universum size. We also supply feedback to the service provider regularly regarding research quality and other issues.


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


C) 実施: 統合

LEI 08. Review ESG issues while researching companies/sectors

08.1. E・S・Gの各要因が投資分析の一環として体系的に調査されている、アクティブ運用の上場株式ポートフォリオの割合を記載してください。

ESG問題

影響を受ける割合
E(環境)

E(環境)

S(社会)

S(社会)

コーポレートガバナンス

コーポレートガバナンス

08.2. 補足情報 [任意]


LEI 09. Processes to ensure integration is based on robust analysis

09.1. ESG統合が徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを記載してください。

09.2. 組織の統合戦略の一環で包括的ESG調査の対象になるアクティブ運用上場株式の割合を記載してください。

09.3. ESG統合戦略に使われる第三者のESG評価が更新される頻度を示してください。

09.5. ポートフォリオ・マネージャーがどのようにしてESG情報を保有し、使っているのか説明してください。

09.6. 補足情報 [任意]


LEI 10. Aspects of analysis ESG information is integrated into (Private)


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