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Swiss Re Ltd

PRI reporting framework 2020

Export Public Responses

You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » Implementation processes


FI 01. Incorporation strategies applied

以下を記載してください。 (1)組織でアクティブ運用する債券投資について、どのESG組み入れ戦略や組み合わせを使用しているか(2)各戦略が適用されるアクティブ運用債券投資合計の割合(+/- 5%)
0 スクリーニングのみ
0 テーマのみ
0 統合のみ
95 スクリーニング + 統合戦略
0 テーマ + 統合戦略
0 スクリーニング + テーマ戦略
5 3つの戦略すべての組み合わせ
0 組み入れ戦略を適用していない

01.2. 特定のESG組み入れ戦略を選択している理由と、使用する戦略の組み合わせを説明してください。

Our portfolio of FI investments is an integral part of our prudent asset-liability management approach. This portfolio is reviewed against relevant ESG rating and factor level considerations at country level. Swiss Re's Financial Risk Management department performs the screening of the internally managed FI portfolio against the ESG ratings and factors on a monthly basis. If any positions are identified which fall below a pre-defined ESG rating threshold, the portfolio manager has to provide further analysis to the nature and rationale for the investment.

The complete analysis is periodically presented for review to the Asset Management Investment Committee (AM IC) chaired by the Group Chief Investment Officer as well as to the ESG Advisory Board.

In addition, Swiss Re applies the Sustainable Business Risk Framework, consisting of two umbrella policies on human rights and environmental protection, and eight guidelines on sensitive sectors or issues. Each of these policies and guidelines contain a number of predefined criteria and qualitative standards that may lead to the exclusion of a company or a country from the (re-)insurance and investment universe.

01.3. 補足情報 [任意]

In addition to the general framework described above, Swiss Re has incorporated ESG considerations as an integral part of its investment process and continues to actively invest in themes that are directly related to sustainability.

The green bond holdings in FI have significantly grown since the previous submission. In 2018, we reached our green bond target of at least USD 1.5 billion by holding USD 1.6 billion per year-end. We were holding USD 1.8 billion in green bonds as of year-end 2019. To further expand our thematic investments, we also include social and sustainability bonds in our allocation. Overall, we increased our target for our green, social and sustainability bond mandate to USD 4 billion to be achieved in the next five years. 

FI 02. ESG issues and issuer research (Private)

FI 03. Processes to ensure analysis is robust

03.1. 組織のESG調査プロセスの堅牢性を確保する方法を記載してください。

03.2. ESG情報または分析を投資チーム内で共有する方法を記載してください。

03.3. 補足情報 [任意]

The majority of SSA investments are related to securities issued by countries with high ESG ratings such as the US, UK, Germany, Canada and France.

ESG information is held within a centralised database that is accessible to all investment staff and is carefully considered, especially concerning investments in countries with lower ESG ratings.