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European Bank for Reconstruction and Development (EBRD)

PRI reporting framework 2020

You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (C) Implementation: Integration

C) 実施:ESG問題の統合

FI 10. Integration overview

10.1. ESGを従来の財務分析に統合するアプローチを説明してください。

EBRD’s environmental, social team has around 45 staff and is responsible for assessing and monitoring all investments against the requirements of the Bank's Environmental and Social Policy. The nature of the assessment depends on the risk and impacts associated with the proposed investment. This can range from questionnaire to site visits to detailed Environmental and Social Impact Assessments. Environmental and social requirements are included in financing agreements. The results of the environmental and social appraisals are summarised for the decision making body and are disclosed on EBRD's website. EBRD's Chief Compliance Officer coordinates the implementation of anti-bribery and corruption measures and governance-related aspects. It has 14 people working on project integrity issues.Significant ESG risks and management costs are integrated into financial analysis of investments. The EBRD carries out economic assessment with shadow carbon pricing of projects with high GHG emissions.

10.2. 投資する債券の各種類に対してESG統合アプローチをどのように調整するのか説明してください。

社債(非金融)

EBRD’s environmental, social team has around 45 staff and is responsible for assessing and monitoring all investments against the requirements of the Bank's Environmental and Social Policy. The nature of the assessment depends on the risk and impacts associated with the proposed investment. This can range from questionnaire to site visits to detailed Environmental and Social Impact Assessments. Environmental and social requirements are included in financing agreements. The results of the environmental and social appraisals are summarised for the decision making body and are disclosed on EBRD's website. EBRD's Chief Compliance Officer coordinates the implementation of anti-bribery and corruption measures and governance-related aspects. It has 14 people working on project integrity issues. Significant ESG risks and management costs are integrated into financial analysis of investments. The EBRD carries out economic assessment with shadow carbon pricing of projects with high GHG emissions.

10.3. 補足情報 [任意]


FI 11. Integration - ESG information in investment processes

11.1. ESG情報が、通常、投資プロセスの一部としてどのように使用されるのか記載してください。

当てはまるものをすべて選択してください
社債(非金融)
ESG分析をファンダメンタル分析に組み込んでいる
ESG分析が発行体の内部信用評価を調整するために利用される
ESG分析が予想財務業績および将来キャッシュフロー予測を調整するために利用される
ESG分析が発行体の同業グループと比較したランキングに影響する
発行体のESG債スプレッドおよび同セクター企業に対するその相対価値が、すべてのリスクが織り込まれているか否かを把握するために分析される
各種デュレーション/満期の発行体債券へのESG分析の影響が分析される。
感度分析およびシナリオ分析が、ベースケースとESG組み込み証券評価の差を比較する評価モデルに適用される
ESG分析が、ポートフォリオのウェイティング決定に組み込まれている
会社、セクター、国、通貨が、ESGエクスポージャーの変化およびリスク制限の違反についてモニタリングされる
ESGリスクが大きい証券についてポートフォリオのESGプロファイルが検討され、ベンチマークのESGプロファイルと比較して評価される
その他(具体的に記載してください)

11.2. 補足情報 [任意]


FI 12. Integration - E,S and G issues reviewed

12.1. 組織の統合プロセスでESG問題をどのように検討するか示してください。

E(環境)
S(社会)
G(ガバナンス)
社債(非金融)

E(環境)

S(社会)

G(ガバナンス)

12.2. 組織の統合プロセスでE/S/G要因を検討する方法を詳しく説明してください。

社債(非金融)

EBRD’s environmental, social team has around 45 staff and is responsible for assessing and monitoring all investments against the requirements of the Bank's Environmental and Social Policy. The nature of the assessment depends on the risk and impacts associated with the proposed investment. This can range from questionnaire to site visits to detailed Environmental and Social Impact Assessments. Environmental and social requirements are included in financing agreements. The results of the environmental and social appraisals are summarised for the decision making body and are disclosed on EBRD's website. EBRD's Chief Compliance Officer coordinates the implementation of anti-bribery and corruption measures and governance-related aspects. It has 14 people working on project integrity issues.

12.3. 補足情報 [任意]


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