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Caja Ingenieros Gestión SGIIC, SAU

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

We have created a model of integration of ESG criteria in the process of valuation the companies we invest on. In our main ESG strategies the scoring model ranks our portfolio according to the indicators and the weigh we have determined for each pillar of the ESG and provide us an overview of those companies with a better integration of ESG criteria. We also exclude in all the strategies of the investment universe any company related with military sector, tobacco or with a serious controversies in other topics.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

General asset selection principles have been determined, which apply to all managed portfolios, regardless of whether they are part of the ISR strategy. These are principles that exclude investment in certain economic sectors because of their perverse effects on society. They also define in which countries investment in sovereign debt can be made.

The following principles will be met:
1) Those companies will be excluded from the investment:
to. Manufacturers of weapons, explosives or military vehicles
b. Manufacturers of specific components for the military industry (> 10% revenue)
c. Tobacco manufacturers
d. Other companies with specific income from the tobacco sector (> 30% revenue)

2) The sovereign debt of countries that are classified with a medium or low HDI according to the UN will be excluded from the investment.

For the funds that are part of the ESG strategy, Fonengin ISR and Caja Ingenieros Environment ISR, a company selection model based on integration has been developed that provides greater added value due to the analysis of its extra-financial risks. It starts from the characteristic universes of each of the funds, detailed below, but also takes into account the basic principles of exclusion indicated above.

The fundamental part of the integration model is a process that qualifies how companies are acting in the area of ​​responsibility, so that it is possible to include the ESG risk management carried out by the company in the financial valuation. With the information that the manager obtains through a supplier or in other ways, it determines if it should include an ASG premium in the valuation or, on the contrary, make a discount, for what ends up influencing the decision to include the company in the ESG strategy or in the weight assigned to the position.

01.6. Additional information [Optional].

          
        

SG 01 CC. Climate risk

01.6 CC. Indicate whether your organisation has identified transition and physical climate-related risks and opportunities and factored this into the investment strategies and products, within the organisation’s investment time horizon.

Describe the identified transition and physical climate-related risks and opportunities and how they have been factored into the investment strategies/products.

From Caja de Ingenieros we are increasingly involved in the Risk-Impact relationship. Managers take this into account in their investment decisions, that is, what positive impacts the companies in which they invest can provide. Ww monitorize the carbon footprint in all our portfolios, and verify the emissions evolution to comply with 2030 budget.

With the suppliers we have, such as MSCI, we are asked for information on the ESG criteria that facilitate decision making and the style of the companies that can be taken into account and those that cannot.

01.7 CC. Indicate whether the organisation has assessed the likelihood and impact of these climate risks?

Describe why your organisation has not yet assessed the likelihood and impact of climate risks

With the suppliers we have, such as MSCI, we are asked for information on the ESG criteria that facilitate decision making and the style of the companies that can be taken into account and those that cannot.

01.8 CC. Indicate whether the organisation publicly supports the TCFD?

Explain the rationale

We are signatories of Montreal Pledge.

01.9 CC. Indicate whether there is an organisation-wide strategy in place to identify and manage material climate-related risks and opportunities.

Describe

The strategy for the identification of risks and opportunities in climate change is led by the manager of the thematic strategy Environment ISR. Together with his team he analyzes the companies exposed to the risk of energy transition, making internal reports with this information, to raise it to the ISR committee. This committee analyzes the risks inherent in the evolution of the decarbonisation trend and provides information provided by suppliers.

1.10 CC. Indicate the documents and/or communications the organisation uses to publish TCFD disclosures.

specify

          Montreal Pledge report https://www.caixaenginyers.com/es/web/fondosinversion/-/informe-pri-montreal-pledge-2019
        

SG 02. Publicly available RI policy or guidance documents

 

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.

02.3. Additional information [Optional].


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

All the portfolio managers and the responsible managers of each area of the firm are requested to accept an internal code of behaviour which describes what is supposed to do in case of conflicts of interests. Moreover, we have a specific code to deal with related-party transactions in order to avoid these conflicts of interests.

Both documents are approved by the board of directors of the firm and we report to them any observed transaction that could be suspicions according to these documents.

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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