Berenberg EM Bonds ESG
LU1725429309, LU1725431628, LU1725439449
| Issuer | Universal-Investment-Luxembourg S.A. |
|---|---|
| Fund provider | Joh. Berenberg, Gossler & Co. KG |
| Fund type/Asset class | Bond fund |
| Legal form | FCP |
| Fund issue date | 31/01/2018 |
| Last Update | 04.01.2024 |
| Benchmark | 70 % JPM EMBI Global Diversified / 30 % JPM CEMBI IG (EUR hedged / USD unhedged depending on share class) |
| Tranche | Private Investors |
Risk Indicator (PRIIP)
2 of 7
Licensed in
D,
A,
CH,
LU
Classification by SFDR
Article 8
EU Taxonomy
-
% of Sustainable Investments according to SFDR
-
Principal Adverse Impacts
Greenhouse Gas Emissions
Water
Waste
Biodiversity
Energy Efficiency and Fossil Fuels
Social and Employee Matters
Sustainable Development Goals
No explicit details regarding the Sustainable Development Goals
Normal allocation
| Equities | Excluded |
|---|---|
| Bonds | 90 % to 100 % |
| Money market/Bank deposits | 0 % to 10 % |
| Commodities | Excluded |
| Direct investments | Excluded |
| Derivatives | Excluded (for hedging only) |
| Other | Depending on the share class, the portfolio is 100% hedged via FX derivatives in euros. 0 % |
Sustainability approach
| Principal Adverse Impacts |
Water
Waste
Biodiversity
Energy Efficiency and Fossil Fuels
Social and Employee Matters
|
|---|---|
| Further remarks on the consideration of SDGs | - |
| Rationale behind classification according to SFDR | Article 8 |
| Engagement | Yes, organized internally Link to engagement policy |
| Voting | n/a Bond fund |
| Best-in/of-Class | No |
| ESG-Integration | Yes After applying a comprehensive catalogue of ESG exclusion criteria, countries and companies are analysed in terms of their fundamental strength. In this process, ESG criteria are integrated and taken into account in the overall assessment. For sovereign bonds, the political risk (management) flows into the valuation of a country. For corporate bonds, the current ESG rating and specific governance criteria influence the overall rating. |
| Norm-based screening |
UN Global Compact
ILO core labour standards
OECD Guidelines for Multinational Enterprises
Other
Guiding Principles on Business & Human Rights, MSCI ESG Controversy Red Flags
|
| Themes |
-
|
| Impact Investing |
-
|
| Further information on the sustainability approach | At Berenberg Wealth and Asset Management (WAM), we consider ESG aspects as one of the key factors in our investment decision making. We recognize that the integration of ESG helps our portfolio management to adequately analyse risk and return. To minimize certain risks arising from controversial business areas or problematic business practices, we use ESG exclusion criteria. We also place a strong focus on positive factors that promote and sustain earnings growth, such as good corporate governance. In addition to our own research, we use external ESG data to understand the sustainability profile of companies and issuers. We strive to identify material factors that are critical to improving long-term returns and the sustainability profile as part of a comprehensive ESG investment process. Internally, we discuss ESG issues openly, building on our culture of supportive collaboration among all teams. This open dialogue among our investment and ESG professionals allows us to integrate their industry experience and knowledge into our ESG approach and to develop and strengthen it continuously further. Dialogues with companies are an important pillar for us in order to gain a better understanding of ESG capabilities and to communicate our views. Participation in sector and investor initiatives is important for us in order to hold exchanges with other investors and companies, to engage jointly “with one voice” and, ultimately, to support positive change. Link to sustainability approach |
Research and Transparency
| In-house sustainability analysis | Yes, 7 |
|---|---|
| Research partners | Yes MSCI ESG, RepRisk |
| Percentage of portfolio with sustainability analysis | 100 % |
| Strategically important suppliers included | No |
| Sustainability advisory committee | Advisory Berenberg WAM ESG Committee |
| Analysis of portfolio CO2 | Yes, backward-looking indicator Among other things, we measure the weighted average carbon intensity of the company positions, which indicates the portfolio's exposure to CO2-intensive businesses and thus gives a measure of CO2/climate risk. |
| Sustainability reporting | Yes Sustainability reporting takes place in monthly updated factsheets as well as in a half-yearly updated Sustainability Report. Upon request, we provide interested and invested clients with further information. |
| At least monthly portfolio publication | No |
| Certification/Label awarded by independent auditors |
FNG Label ★★
|
Environmental
Exclusion of sectors / areas of business – companies
| Fossil fuels (Coal, Oil and Gas) | Yes 5 % Turnover threshold |
|---|---|
| Nuclear power (operation and components) | Yes 5 % Turnover threshold |
| Green genetic engineering | No |
| Chlorine and agrochemicals (biocides) | No |
| Other | Unconventional Oil & Gas |
Exclusion of business practices – companies
| Environmentally damaging behaviour | Yes |
|---|---|
| Damage to biodiversity | Yes |
| Other | CO2 emissions, H2O management; Negative impact on biodiversity and other environmentally damaging activities reflected by excluding MSCI ESG controversy red flags and UN Global Compact Principles violations |
Exclusion criteria – countries
| Non-ratification of the Paris Climate Agreement | Yes |
|---|---|
| Non-ratification of the Protocol on Biosafety | No |
| Non-ratification of the UN Biodiversity Convention | Yes |
| Nuclear power by proportion of gross energy production | Yes |
| Other | Basel Convention, CO2 per capita emissions, among others |
Social
Exclusion of sectors / areas of business – companies
| Weapons/Armaments | Yes 5 % Turnover threshold |
|---|---|
| Cluster bombs and anti-personnel mines | Yes |
| Weapons of mass destruction (ABC/CBRN) | Yes |
| Tobacco products | Yes |
| Pornography | Yes 5 % Turnover threshold |
| Spirits/Alcohol | Yes 5 % Turnover threshold |
| Gambling | Yes 5 % Turnover threshold |
| Other | Weapons for retail purposes, stem cell research, abortifacients, etc. |
Exclusion of business practices – companies
| Labour rights (ILO core labour standards) | Yes |
|---|---|
| Exploitative child labour | Yes |
| Violation of human rights | Yes |
| Animal testing | Yes |
| Other | - |
Exclusion criteria – countries
| Labour rights | No |
|---|---|
| Violation of human rights | Yes |
| Military spending as a percentage of GDP | No |
| Death penalty, torture | Yes |
| Countries classified by Freedom House as not free | Yes |
| Violations of the Nuclear Non-Proliferation Treaty | Yes |
| Violations of other non-proliferation treaties | No |
| Other | High military budget, religious freedom, discrimination, social pressure |
Governance
Exclusion of business practices – companies
| Corruption and bribery | Yes |
|---|---|
| Tax: planned avoidance & detected violations | Yes |
| Other | Predatory lending; tax-related issues reflected by excluding MSCI ESG controversy red flags and UN Global Compact Principles violations |
Exclusion criteria – countries
| Corruption | Yes |
|---|---|
| Other | Authoritarian regimes, political stability and peace, etc. |
More on data availability
-
EU Taxonomy
It is possible that reported KPIs for taxonomy eligibility and alignment (being limited to corporate issuers / including only selected economic activities) are low or that KPIs cannot be reported due to limited data availability. Data may be available with a time lag. Data comparability may be limited due to differences in the scope of the economic activities considered. As soon as data is available in sufficient quantity and quality, it will be published in accordance with regulatory requirements.
Quelle: Unternehmensangaben. | Für die Angaben der Unternehmen kann keine Haftung übernommen werden. Die Angaben dienen nur zur Information und stellen keine Beratung oder Empfehlung dar. Bitte beachten Sie den Haftungsausschluss unter www.forum-ng.org/disclaimer. Das FNG-Nachhaltigkeitsprofil bietet nur einen ersten Überblick und ist kein Ersatz für eine eigenständige Analyse. Weiterführende Erläuterungen finden Sie unter www.forum-ng.org
FNG-Sustainability profiles disclaimer
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- Es wird ausdrücklich darauf hingewiesen, dass das Forum Nachhaltige Geldanlagen e.V. weder die Richtigkeit und Vollständigkeit noch die Plausibilität der in den FNG-Nachhaltigkeitsprofilen enthaltenen Angaben überprüft hat. Diese Angaben beruhen ausschließlich auf den von den jeweiligen Anbietern bereitgestellten Daten, auf die das Forum Nachhaltige Geldanlagen e.V. keinen Einfluss hat.
- Die Aktualität der eingegebenen Daten richtet sich nach dem im FNG-Nachhaltigkeitsprofil des jeweiligen Produkts angegebenen Aktualisierungsdatum, wiedergegeben ist also der Stand zu diesem Datum. Im Zweifel sind die bei der jeweiligen KVG hinterlegten Daten als aktuell zu betrachten. Das Forum Nachhaltige Geldanlagen e.V. hat darauf jedoch keinen Einfluss und kann daher keine Gewähr für eine jederzeitige Aktualität übernehmen, da die FNG-Nachhaltigkeits-Inhalte von den Anbietern selbst zu befüllen und ggf. zu aktualisieren sind.
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