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Caja Ingenieros Gestión SGIIC, SAU

PRI reporting framework 2020

You are in Strategy and Governance » ESG issues in asset allocation

資産配分におけるESG問題

SG 13. ESG issues in strategic asset allocation

13.1. 貴社組織がシナリオ分析および/またはモデリングを実施するか記述してください。実施する場合、 シナリオ分析について説明してください(資産クラス別、セクター別、戦略的資産配分等)。

25語以内で説明してください 。 Consider an analysis of the MSCI supplier that provides us with ESG information and we also take into account at present and for future scenarios, the controversies that may appear on one of the companies face and quarterly we have a follow-up for decision making in the ISR commtee.
25語以内で説明してください 。 We are working with an analysis from the ISS supplier that provides us with information on climate analyzes. From 2020 we will report it for each portfolio and analyze it for each ISR committee.

13.2. 組織が戦略的な資産配分やセクターまたは地理的な市場間での資産の配分においてESG問題を考慮しているかどうかを記載してください。

以下を行っている

13.3. 補足情報 [任意]

Our organitsation considers ESG issues in allocation of assets between sectors and geographic markets


SG 13 CC.

13.4 CC. 貴社組織が気候関連のリスクおよび機会を管理するためにどのようにシナリオ分析を利用しているかについて(分析がどのように解釈されているか、その結果、将来の計画等)、記述してください。

500語以内で自由に記載

Through the analysis of the carbon footprint of the managed portfolios, the exposure to climate risks has been determined to a scenario of emissions reduction imposed by COP 21. With this analysis, during 2019, it has been possible to reduce carbon emissions generated by managed portfolios.

13.5 CC. この分析をだれが利用するか記述してください。

13.6 CC. 貴社組織がその投資戦略について、投資期間を超えて、気候関連リスクの影響を評価しているか記述してください。

500語以内で自由に記載してください。

During 2019, the objective is to work on the impact of decarbonization measures in a concrete and quantitative manner.

During 2020, based on our supplier we have much more detail. The climate change reports generated through ISS ESG according to the portfolio of assets of each investment fund allow measuring the climate impact with a wide coverage, high data quality and an independent analysis. This is a methodology developed over three years with the Swiss Federal Institute of Technology and includes around 800 specific models of sectors and subsectors, allowing ISS ESG researchers to calculate greenhouse gas (GHG) emissions according to the most relevant for each sector.

13.7 CC. 一定の範囲の気候シナリオを利用しているか記述してください。

13.8 CC. 貴社組織が用いる気候シナリオについて記述してください。

提供者
使用するシナリオ
IEA
IEA
IEA
IEA
IEA
IRENA
グリーンピース
持続的発展研究所
ブルームバーグ
IPCC
IPCC
IPCC
IPCC
その他

その他 (1) 具体的に記入してください:

          ISS Institutional Shareholder Services
        
その他
その他

SG 14. Long term investment risks and opportunity

14.1. 一部の投資リスクと機会は長期トレンドの結果として発生します。貴社では、以下のどの項目について考慮するか明示してください。

14.2. 気候に関するリスクと機会に対応して組織で実施されている活動を選択してください。

低炭素関連および気候変動に強いポートフォリオ、ファンド、戦略または資産クラスに投資されている運用資産(AUM)を明示してください

Total AUM
10億 100万
Currency
Assets in USD
10億 100万

使用された枠組みまたは分類法を明示してください

The funds managed with criteria of responsibility (Fonengin ISR, CI Environment ISR and CdE ODS Impact ISR) are targeted as a minimum carbon footprint within the possible ones. In fact, at the end of the financial year 2019 they stood at 94,36, 33,84 and 117,53 metric tons per million dollars of income. That implies up to  between 2 and 4 times less than the MSCI World and a historical record for each of the funds.

14.3. 次のツールの中から気候関連リスクと機会の管理に組織が用いているものを選択してください。

14.5. 補足情報 [任意]


SG 14 CC.

14.6 CC. 気候に関連するリスクと機会を評価するために使用されるこれらの重要な指標についての詳細を記入してください。

指標の種類
カバレッジ
目的
指標の単位
方法
カーボンフットプリント(スコープ1と2)
          To assess the impact of a company on the process of climate change
        
          Metric tonnes of ghg emissions
        
          Data reported by companies
        
ポートフォリオのカーボンフットプリント
          To assess the positioning of investment portfolios in relation to benchmarks and the rest of the sector. Especially for those strategies with an ESG seal, this is a measure of reputation regarding the quality of their management.
        
          Metric tonnes of ghg emissions / 1 millions USD revenues
        
          Data reported by companies
        
炭素濃度
          Evaluate the efficiency in emission of polluting gases of a company in the process of climate change.
        
          reflecting the emission of metric tons of CO2 per million USD/sales, adjusted for the participation in the company.
        
          Bassed in ISS Research
        

14.8 CC. 気候関連のリスクが全体のリスク管理に組み込まれているかどうか記述してください。また、気候関連リスクを特定、評価、管理するために利用されたリスク管理プロセスについて説明してください。

500語以内で自由に記述。

Climatic risks are part of the company's global risk management strategy. For this reason in 2017 a fund was created whose main theme is the fight against climate change. As of that date, the rest of the funds have also been incorporating good practices that allow them to position themselves before the risks related to climate change. For example, the risk posed to energy companies by the transition to a low carbon economy has been subject to analysis, directly impacting investment decisions and causing changes in some portfolios in order to reduce the carbon footprint. Beyond the changes made, this risk also intervenes in the integration of ESG factors included in the selection of investments, since it reduces the possibilities of future profitability of the affected companies.

14.9 CC. 貴社組織がTCFD採用を促すアクティブオーナーシップ活動を行うか記述してください。


SG 15. Allocation of assets to environmental and social themed areas

15.1. 貴社にて、特定の環境および社会をテーマとする分野に基づいてファンドに資産を配分したり、ファンドを運用しているかどうかについて明示してください。

15.2. 環境および社会をテーマとする分野に投資された合計運用資産(AUM)の割合を明示してください。

40 %

15.3. 貴社が投資しているテーマ分野を明示のうえ、AUMに対する特定の資産クラスの割合を記載し、その内容を簡潔に説明してください。

分野

投資している資産クラス

70 % (AUMの)
35 % (AUMの)

簡潔な説明および投資尺度

Energy efficiency is a practice that increasingly has social acceptance and which aims to reduce or optimize the energy consumption, whatever its use. 

The interest in energy efficiency is gaining more and more followers, not only because of the benefits it generates to fight climate change but because it allows companies that are aware of this to improve competitiveness by reducing energy consumption and therefore costs. Here are some examples of companies that allow you to invest in this topic:

Kingspan Group is a world leading Irish company in high quality insulating panels, and which focuses all its efforts on modifying construction practices, approaching construction from a sustainable point of view, with environmentally friendly products and materials. The insulation range puts the focus on optimizing the energy efficiency of buildings, so that the consumption in air conditioning is as low as possible in both hot and freezing weather.

Other examples of companies:

Brembo (High quality brakes are really important in terms of vehicle efficiency), 

Brambles (the model is based on the circularity of pallets, so the efficiency in terms of routs are obvious),  

投資している資産クラス

15 % (AUMの)
7 % (AUMの)

簡潔な説明および投資尺度

 

Renewable energies are those obtained from clean and inexhaustible natural sources, and one of the main differences with

fossil fuels is that it does not produce greenhouse gases or polluting emissions. Therefore, the transition to this type of energy is increasingly essential to combat climate change and limit its effects.

To date, the main renewable energies are:

• The eolic energy.

• Solar energy.

• Hydroelectricity.

 

In the first block of companies, we focus on selecting companies that work throughout the generation cycle of

renewable energy or that the focus of its products is related to renewables.

In the second block of companies, we select businesses that are fully equipped or that are improving the use of renewable energy in their activities.

 

Example of companies: Vestas and Siemens Gamesa (The companies are world leaders in the manufacture and maintenance of wind turbines for obtaining wind energy.

投資している資産クラス

20 % (AUMの)
5 % (AUMの)

簡潔な説明および投資尺度

 

- Buildings. The companies that manufacture products are selected for sustainable construction and / or that optimize energy use.
- Buildings (~ 40%). Energy consumption for air conditioning, lighting, appliances. For example, the insulation range focuses on optimizing efficiency 
energy efficiency of buildings, so that air conditioning consumption is as low as possible in hot and cold climates.

 Umicore, the company develops products, services or projects that support pollution prevention, waste minimization or recycling. The group is a leading supplier of key materials for rechargeable batteries used in hybrid and electric cars and portable electronic devices. Furthermore, it is the world's leading recycler of complex waste streams containing precious metals and other valuable metals.

 Accell (The company is the European leader on electric bikes with brands like Haibike)

投資している資産クラス

12 % (AUMの)
2 % (AUMの)

簡潔な説明および投資尺度

Due to the thematic of the fund described above we look for companies whose main source of income comes from educational programs or courses, products and services used in a school environment, that is, books, software and educational materials used by students and teachers as part of educational programs. As well as publishing companies, television channel producers or game manufacturers with educational content or companies that provide catering, school transportation or residential centers for students.

Unite Students, is the largest British company dedicated to the development, management and operation of residences for university students (in 2018 almost 90% of its income originated from these activities). In addition, since 2012 through its foundation, it has provided free student housing and financial support to more than 250 young people without family support.

New Oriental Education is the largest provider of private educational services in China. They offer a wide range of educational programs, services, and products, consisting primarily of language training and test preparation, preschool, primary and secondary education, online education, content development and distribution, and study abroad consulting services. In 2018, more than 80% of its income came from these activities.

 

投資している資産クラス

13 % (AUMの)
8 % (AUMの)

簡潔な説明および投資尺度

 

Companies that try to facilitate and improve access to water as a basic resource.

About 70% of the Earth's surface is covered by water, but only 2.5% is fresh water, and the remaining 97.5% is water salty. Furthermore, around 30% of the water is underground and its extraction is sometimes complex. Regarding the main uses of water in the world, we have the agricultural sector (70%), industrial use (20%) and municipal (10%).In terms of investment, we invest in this issue through companies that work throughout the water cycle.

 Society is growing at unsustainable rates and as a result, production of all kinds is increasing every day for products that we also consume at breakneck speed. Therefore, we believe that the focus of companies should be the prevention and minimization of waste, as well as the commitment to the circular economy, based on the reuse and recycling of materials.

 Example companies: Kemira, Xylem (one of the leaders worldwide working on the water cycle, they provide all kind of products used around the cycle)

15.4. 含めたい補足情報があれば、添付してください。 [任意] 



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