Our internally managed active fixed income investments are subject to our strict "Gemeinwohl-Ökonomie" principles (see https://www.sparda-m.de/internetauftritt/downloads/pdf/vierter-gemeinwohlbericht.pdf), just like all our business operations are. These principles can be found in this "Gemeinwohl-Bericht" mentioned from page 18 on.
One main rule required by law of conducting fixed income investment operations is "No limit, no trade". That means every single investment that we want to do has to have a pre-setup and approved credit limit. A pre-requisite for this approval is compliance to our strict "Gemeinwohl-Ökonomie" principles. To make sure these requirements are met, ESG data are part of our analyses just like annual reports, financial analyses, cover pool analyses etc. Sufficient ESG data scores are always and everywhere prerequisite for approving and maintaining credit limits. At least annually, when the latest annual reports are published, we repeat this process of screening our investments. Moreover, we have setup excel-based analysis tools that provide us updated ESG data when available on a daily basis.