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S-Bank Plc.

PRI reporting framework 2020

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

資産配分におけるESG問題

SG 13. ESG issues in strategic asset allocation

13.1. 貴社組織がシナリオ分析および/またはモデリングを実施するか記述してください。実施する場合、 シナリオ分析について説明してください(資産クラス別、セクター別、戦略的資産配分等)。

13.3. 補足情報 [任意]

Climate change / ESG related scenario analysis is at such an early stage that we have not seen a great rationale to do this at this stage. Moreover, as the asset managers typically have tens or hundreds or even more portfolios, different scenario analyses are not as effective as they are in case of an asset owner with fewer, in many cases just one, portfolio.


SG 13 CC.


SG 14. Long term investment risks and opportunity

14.1. 一部の投資リスクと機会は長期トレンドの結果として発生します。貴社では、以下のどの項目について考慮するか明示してください。

14.2. 気候に関するリスクと機会に対応して組織で実施されている活動を選択してください。

14.3. 次のツールの中から気候関連リスクと機会の管理に組織が用いているものを選択してください。

14.4. 排出量リスクの開示を選択した場合、採用している開示方法またはそのフレームワークの中で気候関連のものを挙げてください。

For climate change related reasons, we exclude mining companies that derive over 20% of their revenues from thermal coal. Additionally, based on our own analysis, we exclude around 20 utilities whose energy generation’s CO2 intensity is high and that’s explained by the usage of coal as a fuel (we see gas ‘less bad’ at this point). Please note that we have calculated the intensity for the generation business, not for the company as a whole as that is misleading in some cases. When it comes to scenario analysis, we haven’t done that so far. We want the methods to develop further. When it comes to carbon footprint calculation, we calculate and report that in four different ways. The calculations are based on MSCI data on scope 1 and scope 2 emissions. We can report the carbon footprint as xx tons per invested million dollars, emissions owned xx tons CO2 (the share of companies’ emission owned by the fund, based on the ownership data), CO2 intensity xx (tons CO2 / mln $ sales) and weighted average CO2 intensity xx (tons CO2 / mln $ sales). Figures are available on our website for all the funds where data covers over 50% of investments. It is good to note that not all the methodologies mentioned are suitable for funds containing fixed income securities.

14.5. 補足情報 [任意]


SG 14 CC.

14.6 CC. 気候に関連するリスクと機会を評価するために使用されるこれらの重要な指標についての詳細を記入してください。

指標の種類
カバレッジ
目的
指標の単位
方法
加重平均炭素濃度
          What is my portfolio's exposure to carbon-intensive companies.
        
          Tons CO2e / M$ sales
        
          Weighted average of each portfolio company's CO2e/ it's revenue. This metric also suits for fixed income securities.
        
カーボンフットプリント(スコープ1と2)
          To be able to consider each company's emissions and to be able to calculate emission metrics for portfolios as this input is needed in one way or another.
        
          Tons CO2e
        
          Sum of company's scope 1 and scope 2 emissions.
        
ポートフォリオのカーボンフットプリント
          What is my portfolio's exposure to high carbon footprint companies. This metric can be normalised per 1 million dollar investment, which enables to compare with for example a benchmark.
        
          Tons CO2e
        
          Sum of portfolio companies' owned emissions normalised to 1 million dollars invested.
        
総炭素排出量
          What is my portfolio's total carbon footprint.
        
          Tons CO2e
        
          To calculate the portfolio carbon emissions, we sum up all the emissions in
the portfolio based on the investor's ownership share. The metric can also be
expressed as per dollar invested.
        
炭素濃度
          How efficient is my portfolio in terms of total carbon emissions per unit of output.
        
          Tons CO2e / M$ sales.
        
          Carbon intensity is the ratio of portfolio carbon emissions normalized by the
investor’s claims on sales. This can only be calculated for equity investments as the ownership figure is needed.
        

14.8 CC. 気候関連のリスクが全体のリスク管理に組み込まれているかどうか記述してください。また、気候関連リスクを特定、評価、管理するために利用されたリスク管理プロセスについて説明してください。

500語以内で自由に記述。

Calculating and reporting different carbon figures for portfolios is not integrated into our overall risk management yet.  We do publish these figures for our mutual funds. Risk management in climate related issues is done on a portfolio level by portfolio managers.

14.9 CC. 貴社組織がTCFD採用を促すアクティブオーナーシップ活動を行うか記述してください。

説明してください。

We participate in Climate Action 100+ and TCFD adoption is one aspect of the engagement programme.


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

15.1. 貴社にて、特定の環境および社会をテーマとする分野に基づいてファンドに資産を配分したり、ファンドを運用しているかどうかについて明示してください。

15.4. 含めたい補足情報があれば、添付してください。 [任意] 



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