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AMF

PRI reporting framework 2020

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

(A) Implementation: Screening

FI 04. Types of screening applied

04.1. Indicate the type of screening you conduct.

Select all that apply
SSA
Corporate (financial)
Corporate (non-financial)
Securitised
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

04.2. Describe your approach to screening for internally managed active fixed income

In order to work into our overall best-in-class approach, our ESG integration strategy is based on an ESG rating threshold, directing investments to issuers who are performing well from an ESG perspective relative it's sector. We can occationally invest in bonds from issuers that fall below this threshold, but that is linked to commitments of company dialogue to promote improvements in their sustainability efforts.

We also perform a biannual norms-based screening that include our corporate bonds. Confirmed breaches of norms can lead to divestment and future exclusions if the company does not respond well to dialogue. Considering the duration of the bond we evaluate how a divestment plan best can be carried out with the best interest of our beneficiaries in mind.

As of 2018 we also apply a climate related screen considering high emission sectors and the exclusion of thermal coal (10 % threshold). 

AMF use a pre-trade compliance program in our trading system to reduce the risk of anyone investing in a red flagged issuer.

 

04.3. Additional information. [Optional]


FI 05. Examples of ESG factors in screening process (Private)


FI 06. Screening - ensuring criteria are met

06.1. Indicate which systems your organisation has to ensure that fund screening criteria are not breached in fixed income investments.

Type of screening
Checks
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

06.2. Additional information. [Optional]


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