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Weberbank Actiengesellschaft

PRI reporting framework 2020

You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income

ESG incorporation in actively managed fixed income

Implementation processes

FI 01. Incorporation strategies applied

Indicate (1) Which ESG incorporation strategy and/or combination of strategies you apply to your actively managed fixed income investments; and (2) The proportion (+/- 5%) of your total actively managed fixed income investments each strategy applies to.
SSA
100 Screening alone
0 Thematic alone
0 Integration alone
0 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%
Corporate (financial)
100 Screening alone
0 Thematic alone
0 Integration alone
0 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%
Corporate (non-financial)
100 Screening alone
0 Thematic alone
0 Integration alone
0 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%
Securitised
100 Screening alone
0 Thematic alone
0 Integration alone
0 Screening + integration strategies
0 Thematic + integration strategies
0 Screening + thematic strategies
0 All three strategies combined
0 No incorporation strategies applied
100%

01.2. Describe your reasons for choosing a particular ESG incorporation strategy and how combinations of strategies are used.

ESG issues are addressed in collaboration with our research partners. We defined exclusionary criteria on the basis of but not limited to the UN Global Compact for companies and do not invest in any asset from any company that violates one or more criteria.

A screening is the most efficient and straightforward approach to avoid critical business areas (such as tobacco or weapons) and controversial business practices like corruption or the violation of human rights.

We review all assets we are invested in at least quarterly or on an ad-hoc basis and we divest in a timely manner if necessary. The responsibility for the sell or buy decisions is in the hands of our portfolio managers.

01.3. Additional information [Optional].


FI 02. ESG issues and issuer research

02.1. Indicate which ESG factors you systematically research as part of your analysis on issuers.

Select all that apply
SSA
Corporate (financial)
Corporate (non-financial)
Securitised
Environmental data
Social data
Governance data

02.2. Indicate what format your ESG information comes in and where you typically source it

Indicate who provides this information  

Indicate who provides this information  

Indicate who provides this information  

Indicate who provides this information  

Indicate who provides this information  

02.3. Provide a brief description of the ESG information used, highlighting any differences in sources of information across your ESG incorporation strategies.

All data we use is provided by our research partners. We obtain both a screened company and a country list. Furthermore, we have access to detailed raw ESG data, company, sector and country-related analysis and of course specific analysis on every single issuer. We use all types of information to better understand where strengths and weaknesses of every issuer on the screened list come from and make better investment decisions in terms of RI investments.

02.4. Additional information. [Optional]


FI 03. Processes to ensure analysis is robust

03.1. Indicate how you ensure that your ESG research process is robust:

03.2. Describe how your ESG information or analysis is shared among your investment team.

03.3. Additional information. [Optional]


(A) Implementation: Screening

FI 04. Types of screening applied

04.1. Indicate the type of screening you conduct.

Select all that apply
SSA
Corporate (financial)
Corporate (non-financial)
Securitised
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

04.2. Describe your approach to screening for internally managed active fixed income

For the majority of our ESG investments we apply a single approach that excludes fixed income securities from companies that violate globally recognized standards or operate in controversial business areas (with more than 10% of sales):

  • alcohol (producers and distributors of high-percentage alcoholic beverages)
  • nuclear power (producers and distributors of nuclear energy, uranium and components of nuclear power plants)
  • biocides (producers)
  • embryonic research (specialized companies)
  • gambling (particularly controversial types)
  • GMOs (producers, users and distributors)
  • pornography (producers and distributors)
  • military (producers and distributors of weapons and other military equipment)
  • controversial weapons (all producers and distributors, regardless of percentage of sales)
  • tobacco (producers and distributors)
  • animal testing (if not legally required)
  • human rights controversies (companies and suppliers)
  • labour rights controversies (companies and suppliers)
  • controversial environmental practices (producers and suppliers)
  • business malpractice (corruption, accounting)

All companies we invest in will meet at least the UN Global Compact Principles which is ensured by our exclusionary screenings.

We also exclude bonds from countries that violate globally recognized standards:

  • labour conditions
  • child labour
  • human rights controversies
  • non-ratification of the Kyoto Protocol
  • corruption
  • authoritarian regime
  • dealth penalty

Clients can change and amend the screening with their own understanding of ESG investing.

04.3. Additional information. [Optional]


FI 05. Examples of ESG factors in screening process (Private)


FI 06. Screening - ensuring criteria are met

06.1. Indicate which systems your organisation has to ensure that fund screening criteria are not breached in fixed income investments.

Type of screening
Checks
Negative/exclusionary screening

other description

          In addition to the systematic checks, we are informed ad hoc about changes in the investable universe by our research partners.
        
Norms-based screening

other description

          In addition to the systematic checks, we are informed ad hoc about changes in the investable universe by our research partners.
        

06.2. Additional information. [Optional]


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