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Trecento

PRI reporting framework 2020

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Innovation [SG 18] Communication [SG 19]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (B) Implementation: Thematic [LEI 07] (C) Implementation: Integration of ESG factors [LEI 08 - 10] Outputs and outcomes [LEI 12 - 13]
Direct - Listed Equity Active Ownership
Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 06] (B) Implementation: Thematic [FI 07 - 09] (C) Implementation: Integration [FI 10 - 12] Fixed income - Engagement [FI 14 - 16] Outputs and outcomes [FI 17 - 18]
Direct – Private Equity
Overview [PE 01 - 02] Fundraising of private equity funds [PE 03 - 04] Pre-investment (selection) [PE 05 - 08] Post-investment (monitoring) [PE 09 - 13] Outputs and outcomes [PE 14 - 15] Communication [PE 16]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (A) Implementation: Screening

A) 実施:スクリーニング

FI 04. Types of screening applied

04.1. 実施するスクリーニングの種類を記載してください。

当てはまる項目を全てを選択してください
社債（非金融）
ネガティブ/ 排他的スクリーニング
ポジティブ/業界最高のスクリーニング
基準に基づくスクリーニング

04.2. 組織内でアクティブ運用している債券に適用するスクリーニングのアプローチを記載してください。

Trecento AM has implemented an exclusion policy that applies before the investment selection and that restricts the potential investment universe of our funds.

- Norms-based exclusion: elimination from our SRI investment universe of listed issuers that do not comply with international norms, including the 10 Principles of the the United Nations Global Compact.

- Negative (or Sectoral) exclusion: elimination from our SRI investment universe of listed issuers when their core activity is, according to Trecento AM, incompatible with the principles of socially responsible investment.

On its website (http://www.trecento-am.com), Trecento AM releases the list of sectors and issuers included in this negative (or sectoral) and normative exclusion policy, as well as information and details on the choice of organisations we have deemed relevant as a source for this exclusion policy.

04.3. 補足情報 [任意]

FI 05. Examples of ESG factors in screening process

05.1. スクリーニング条件に含まれているESG要因の例を挙げてください。

種類

ESG要因

スクリーニング

スクリーニングの説明

A typical example of an issuer that is excluded for environmental and social negative reasons is a manufacturer of nuclear weapons. Nuclear weapons are violating fundamental humanitarian principles and are considered as an inhumane weapon.

Moreover, the potential global impacts of nuclear blasts on the environment would be desastrous as even a small-scale war would quickly devastate the world's climate and ecosystems, causing damage that would last for more than a decade.

種類

ESG要因

スクリーニング

スクリーニングの説明

Another example of an issuer that is excluded for environmental and social negative reasons is a coal producer. Thermal coal represents the largest source of CO2 which is a greenhouse gas responsible for the ongoing global warming. As coal is widely available, at a low cost, it has been used for decades by countries looking for a cheap energy source. It is therefore a significant climate risk, not to mention an environmental risk (pollution and impact on biodiversity of coal mining activities).

Coal producers are excluded for social negative reasons as well since working conditions in coal mines are harmful for employees (health, safety). The violation of international labor norms also implies that these companies can be excluded for social norms-based criteria.

It has been demonstrated that some coal producers, to overcome local resistance to new mines or coal-based plants due to environmental and social concerns, used corruption of local authorities ou PPE to launch or maintain operations. It then triggers governance norms-based exclusion for some specific issuers.

種類

ESG要因

スクリーニング

スクリーニングの説明

We exclude issuers that have been convicted of corruption. We have for example excluded this French company which was bribing officials to gain capital goods contracts in some countries, usually emerging markets.

05.2. 補足情報 [任意]

Our negative and norms-based exclusion policy is fully described on our website.

FI 06. Screening - ensuring criteria are met

06.1. 債券投資においてファンドスクリーニングの基準に違反がないことを確認するために組織が使用しているシステムを記載してください。

スクリーニングの種類
ネガティブ/排他的スクリーニング​
基準に基づくスクリーニング​

06.2. 補足情報 [任意]

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