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BancoPosta Fondi SGR

PRI reporting framework 2020

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

(C) Implementation: Integration

FI 10. Integration overview

10.1. Describe your approach to integrating ESG into traditional financial analysis.

The approach to integrating ESG into BancoPosta Fondi SGR's investment-process relies upon the ESG profiles provided by external info-providers.

10.2. Describe how your ESG integration approach is adapted to each of the different types of fixed income you invest in.

SSA

BancoPosta Fondi SGR's ESG integration approach is slightly adjusted according to the fixed income SSA asset types. 

Corporate (financial)

BancoPosta Fondi SGR's ESG integration approach for corporate financial investments follows the general guidelines of its RI policy, that is about updating, verifying and in-depth analysis (if needed) of issuers' ESG profile. According to the policy's guidelines for sensitive sectors, integration of ESG factors consists of monitoring the ESG profile of issuers operating in activities controverting human rights laws and standards that meet certain criteria. Potential issues concerning a specific issuer are addressed accordingly and when it doesn't lead to improvement, the Board of Directors is informed and required to evaluate whether to keep or quit the investment.  

Corporate (non-financial)

BancoPosta Fondi SGR's ESG integration approach for corporate non-financial investments draws from the RI policy's general guidelines and the sensitive sectors policy's guidelines. According to the latter, integration of ESG factors consists of monitoring the ESG profile of issuers operating in fossil fuels, animal testing and activities controverting human rights laws and standards that meet certain criteria. Potential issues concerning a specific issuer are addressed accordingly and when it doesn't lead to improvement, the Board of Directors is informed and required to evaluate whether to keep or quit the investment.  

10.3. Additional information [OPTIONAL]


FI 11. Integration - ESG information in investment processes

11.1. Indicate how ESG information is typically used as part of your investment process.

Select all that apply
SSA
Corporate (financial)
Corporate (non-financial)
ESG analysis is integrated into fundamental analysis
ESG analysis is used to adjust the internal credit assessments of issuers.
ESG analysis is used to adjust forecasted financials and future cash flow estimates.
ESG analysis impacts the ranking of an issuer relative to a chosen peer group.
An issuer`s ESG bond spreads and its relative value versus its sector peers are analysed to find out if all risks are priced in.
The impact of ESG analysis on bonds of an issuer with different durations/maturities are analysed.
Sensitivity analysis and scenario analysis are applied to valuation models to compare the difference between base-case and ESG-integrated security valuation.
ESG analysis is integrated into portfolio weighting decisions.
Companies, sectors, countries and currency and monitored for changes in ESG exposure and for breaches of risk limits.
The ESG profile of portfolios is examined for securities with high ESG risks and assessed relative to the ESG profile of a benchmark.
Other, specify in Additional Information

11.2. Additional information [OPTIONAL]


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

12.1. Indicate the extent to which ESG issues are reviewed in your integration process.

Environment
Social
Governance
SSA

Environmental

Social

Governance

Corporate (financial)

Environmental

Social

Governance

Corporate (non-financial)

Environmental

Social

Governance

12.2. Please provide more detail on how you review E, S and/or G factors in your integration process.

SSA

ESG factors are integrated by means of overall ESG score at both company and portfolio level. Those scores are then incorporated into the fundamental analysis that is usually carried out. 

Corporate (financial)

ESG factors are integrated by means of overall ESG score at both company and portfolio level. Those scores are then incorporated into the fundamental analysis that is usually carried out.

Corporate (non-financial)

ESG factors are integrated by means of overall ESG score at both at company and portfolio level. Those scores are then incorporated into the fundamental analysis that is usually carried out.

12.3. Additional information.[OPTIONAL]


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