ESG requirements are prescribed in our Group Sustainable Business Risk Framework as well as Asset Management, Responsible Investing and Voting and Engagement policies, issued by the Group CIO. Direct equity investments are made in accordance with these policies and frameworks. ESG considerations are embedded in the investment process and are reviewed by the ESG Advisory Board.
Additionally, the Corporate Transaction Policy which governs direct private equity and principal investments more granularly, specifically requires confirmation of ESG issues in direct investment memoranda which form the basis for investment decisions (initial investment, shareholder action post investment, and exit). All employees in the direct private equity organisation within Swiss Re must adhere to these policies.
Swiss Re's approach to exclusion is based on the internal group-wide Sustainable Business Risk Framework setting criteria for what is being considered as acceptable business. Consisting of two umbrella policies on human rights and environmental protection, and eight guidelines on sensitive sectors or issues, the framework enables Swiss Re to identify and assess major sustainability risks. Each policy defines criteria for excluding specific companies and countries from our (re-) insurance and investment universe.