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Sparda-Bank Muenchen eG (Delisted)

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy


SG 01. RI policy and coverage


01.1. 責任投資アプローチをカバーする投資ポリシーを策定しているかどうかを明示してください。

01.2. ポリシーの構成要素/種類と対象範囲を示してください。


01.3. 投資ポリシーが以下のどの項目をカバーしているか明示して下さい:

01.4. 組織の投資原則および全体の投資戦略、受託者義務(または同等のもの)の解釈、ならびに、ESGファクターおよび実体経済の影響をどのように考慮に入れているかについて説明してください。

Our legal status as a cooperative bank requires us to work in the best interest of our stakeholders, which are called "Genossen". We do not  maximize our profit, we maximize our ability to survive the next 100 years and the ability to fulfill our cooperative service mandate.

We therefore pursue a very conservative investment policy. Loss avoiding is one of our most important principles. We believe that seldom gains in previous - or even current - business periods can cover the potential losses that can occur. We do not like the theory of expectes losses, that can be calculated and must be overcompensated by a higher nominal yield. We believe that putting our money in safe places is the best way to safeguard steady and appropriate returns. "Safe places" does not necessarily mean "risk free". We concentrate on risks that we believe we are able to manage.

We strongly believe that there is a positive correlation between acting sustainably and being economically successful. Most of the economically catastrophic events that make big companies fail can be attributed to unsustainable behaviour.

We therefore act sustainably and follow those, who do the same.

01.5. 責任投資アプローチをカバーする組織の投資ポリシーの重要な構成要素、バリエーション、例外事項を簡潔に説明してください。[任意]

01.6. 補足情報 [任意]


SG 01 CC. Climate risk (Private)

SG 02. Publicly available RI policy or guidance documents


02.1. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。






02.2. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。









02.3. 補足情報 [任意]

The audit opinion on our "Gemeinwohl-Bericht" can be found at (in German language).

The policies, formalised guidelines, etc. mentioned in SG 02.1 and 02.2 in our "Gemeinwohl-Bericht" (which best translates into "report on public welfare") are absolutely mandatory for the whole staff of our bank. We have mandatory operating instructions in power which are fundamental for all our business operations. Our operating instruction Nr. 61.00.02. 02 "Eigenanlagenstrategie" (=Strategy of our own investments) Nr. 2.1 says (translation follows) "Unsere Eigenanlagen müssen Nachhaltigkeitskriterien genügen, die in einem separaten Dokument, dem Gemeinwohl-Bericht näher bestimmt sind. Wir berichten über die Nachhaltigkeit unserer Eigenanlagen im Rahmen der Gemeinwohl-Auditierung, des Reportings an die UNPRI, sowie auf unserer Homepage." Translation: "Our own investments must comply with sustainability criteria outlined in the 'Gemeinwohl-Bericht'. We report on the sustainability of our own investments in our auditing of the Gemeinwohl-Ökonomie, the reporting to the PRI and on our homepage."

(Link to our homepage, with information on our investments that is - in addition to our "Gemeinwohl-Bericht" - also publicly available and regularly updated:

SG 03. Conflicts of interest

03.1. 組織として、投資プロセスにおける潜在的な利益相反を管理するポリシーを策定しているかどうかについて明示して下さい。

03.2. 投資プロセスにおける潜在的な利益相反を管理するポリシーについて説明してください。

We try to avoid these conflicts wherever possible.

We have setup strict Chinese walls that make sure that own investment activities and retail business activities are kept separated. Consequently possible conflicts should not occur at all. The MIFID-regulations force banks to make respective operations transparent for the public.  

Should a conflict occur nevertheless, we grant highest priority to the interest of our retail banking clients.

Should a conflict occur within our own investment activities, we discuss the matter in our monthly meeting with the management board, the heads of accounting and controlling departments and treasury. We have a best-practice process in power for that.




03.3. 補足情報 [任意]

SG 04. Identifying incidents occurring within portfolios

04.1. 組織では、投資先企業において発生するインシデントの特定と管理を行うプロセスを設定しているかどうか明示して下さい。

04.2. インシデントを管理するプロセスを説明して下さい

We have set up a monitoring tool based on Bloomberg. When specific indicators score below pre-defined thresholds, the issue is set on the agenda of the next monthly meeting with the management board. Possible consequences could be selling the portfolio company, exercising engagement via our service provider, or waiting for improvement in the near future. As we have stern ESG policies in power, this is very unlikely to happen.