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Pictet Asset Management

PRI reporting framework 2020

Export Public Responses

You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes


LEI 01. Percentage of each incorporation strategy

01.1. 以下を記載してください。(1)組織でのアクティブ運用上場株式にどのESG組み入れ戦略や組み合わせを使用しているか(2)アクティブ運用している上場株式の戦略または戦略の組み合わせ別内訳

ESG組み入れ戦略 (当てはまるものをすべてお選びください)
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
2 %
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
88 %
アクティブ運用される上場株式に戦略が適用される割合 (推定 +/- 5%)
10 %
アクティブ運用している上場株式の合計 204%

01.2. 組織が実施しているESG組み入れアプローチ、および、特定のESG組み入れ戦略を選択している場合はその理由を説明してください。

At Pictet Asset Management we offer a complete spectrum of investment solution that incorporate ESG factors in multiple ways. These include:

1. ESG Integration into long-only strategies (eg equity & fixed fincome long only strategies). This is driven by our conviction that ESG considerations can help us make better long-term investment decisions.

2. Best-in-class strategies (eg European Sustainable Equities, Emerging Sustainable Equities, Swiss Sustainable Equities, Global Sustainable Credit, Sustainable EMD Blend). These are designed for clients who wish to actively support and benefit from superior corporate responsability.

3. Environmenta/ Social thematic strategies (eg Global Environmental Opportunities, Nutrition, Clean Energy, Timber, Water, Smart City, Biotech, Health). These offer the possibility to invest in products and services that provide solutions to environmental problems. ESG factors are fully integrated into company analysis.

In all three cases we apply a firm-wide exclusion of companies involved in controversial weapons.

01.3. ESG組み入れ戦略の組み合わせを使用して資産を運用している場合、ESG戦略の組み合わせをどのように使用しているかを簡単に説明してください。 [任意]

"Screening alone" include strategies which implement a best-in-class approach. Additionally, we apply a firm-wide exclusion of companies involved in controversial weapons.

"Screening and integration strategies" include our conventional strategies which integrate ESG factors into their investment decision process and exclude companies involved in controversial weapons. Additionally, we apply a firm-wide exclusion of companies involved in controversial weapons.

"All three strategies combined" include our Environmental & Social thematic strategies. These invest in companies with clear and strategic exposure to companies that contribute to solve environmental / social challenges through innovation, technology and intelligent use of natural resources. ESG considerations are integrated in the fundamental analysis of companies and have a direct impact on the holding weights in the portfolio. Additionally, we apply a firm-wide exclusion of companies involved in controversial weapons.


LEI 02. Type of ESG information used in investment decision (Private)

LEI 03. Information from engagement and/or voting used in investment decision-making (Private)

A) 実施:スクリーニング

LEI 04. Types of screening applied

04.1. 組織内でアクティブ運用している上場株式に適用するスクリーニングの種類を記載し、説明してください。




  • All Pictet Asset Management: Exclusions of controversial weapons (anti-personnel landmines and cluster munitions)
  • Sustainable equities funds: Armament, nuclear, tobacco, gambling, GMOs, adult entertainment
  • Sustainable corporate fixed income funds:gaming, tobacco, alcohol, adult entertainment, defence
  • Environmental thematic funds: ad-hoc exclusions depending on strategy (e.g. GMO, coal/oil, weapons)



Best-in-class strategies also apply negative/exclusionary screens.



We subscribe to controversy analysis of around12'000 companies. Key areas covered include Environment Supply Chain Incidents, Operations Incidents, Product & service Incidents, Business Ethics Incidents, Governance Incidents, Public Policy Incidents, Customer Incidents, Special Supply Chain Incidents and Society & Community Incidents. Companies with the worst ratings are deemed to be in breach with the UN Global Compact Principles, UN Guiding Principles on Business and Human Rights, International Labor Organization Conventions and United Nations Convention Against Corruption.

04.2. スクリーニング基準が変更された場合に顧客や受益者に通知する方法について説明してください。

Screening criteria are reviewed on a regular basis  in line with new ESG issues (e.g. Industry standards, policy and regulatory developments) and communicated through our standard marketing material.

LEI 05. Processes to ensure screening is based on robust analysis

05.1. スクリーニングが徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを選択してください。

          Whenever we identify a problem we systematically feed it back to our research provider for corrective and preventive action.

05.2. ESGスクリーニング戦略の一環で包括的なESG調査の対象となるアクティブ上場株式ポートフォリオの割合を示してください。

05.3. 第三者のESG評価がスクリーニング目的で更新される頻度を示してください。

05.5. 補足情報 [任意]

LEI 06. Processes to ensure fund criteria are not breached (Private)

B) 実施:テーマ

LEI 07. Types of sustainability thematic funds/mandates

07.1. 組織が運用している、サステナビリティをテーマとするファンドやマンデートの種類を記載してください。

07.2. 組織でのサステナビリティをテーマとしたファンドのプロセスについて説明してください。 [任意]

Our environmental / social theme funds integrate ESG considerations into the investment process in three ways.

  1. A strict theme definition by which we only invest in companies with clear and strategic exposure to the underlying environmental/ social theme (typically above 20%).
  2. Furthermore, we integrate ESG consideration in our assessment of management quality and business franchise. Investment managers use a variety of sources for this purpose.
  3. Systematic and theme-specific exclusions (eg weapons, coal etc.)

C) 実施: 統合

LEI 08. Review ESG issues while researching companies/sectors

08.1. E・S・Gの各要因が投資分析の一環として体系的に調査されている、アクティブ運用の上場株式ポートフォリオの割合を記載してください。








08.2. 補足情報 [任意]

LEI 09. Processes to ensure integration is based on robust analysis

09.1. ESG統合が徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを記載してください。

09.2. 組織の統合戦略の一環で包括的ESG調査の対象になるアクティブ運用上場株式の割合を記載してください。

09.3. ESG統合戦略に使われる第三者のESG評価が更新される頻度を示してください。

09.5. ポートフォリオ・マネージャーがどのようにしてESG情報を保有し、使っているのか説明してください。

09.6. 補足情報 [任意]

LEI 10. Aspects of analysis ESG information is integrated into (Private)