67 GRI Index and Assurance statement Engaged citizen Fair partner Responsible banker Human Capacity Report Sustainability management Overview Foreword Sustainable funds of Raiffeisen Kapitalanlage-Gesellschaft m.b.H. Volume (€) Retail investment funds and major investor funds Raiffeisen-Nachhaltigkeit-ShortTerm 42.9 million Raiffeisen-Nachhaltigkeit-Solide 48.9 million Raiffeisen-Nachhaltigkeit-Mix 319.5 million Raiffeisen-Nachhaltigkeit-Aktien 72.8 million Raiffeisen-Nachhaltigkeit-Momentum 39.8 million Raiffeisen-GreenBonds 47.5 million Other retail investment funds Raiffeisen-Österreich-Rent 381.0 million Raiffeisen-Global-Aktien 494.7 million Special funds and mandates (partly abroad) R Ethik Rentenfonds 122.7 million Valida Aktien Nachhaltig 1 127.5 million Valida Anleihen HighYield N 1 51.2 million VBV ESG-Momentum 30.6 million BfS Nachhaltigkeitsfonds Green Bonds 39.7 million BfS Nachhaltigkeitsfonds Ertrag 39.0 million Other major investment funds Raiffeisen 305 – Non-Euro Equities 17.2 million Total 1,875.2 million Status: December 31, 2016 Strict exclusion criteria are defined for management with regard to these dedicated sustainability funds (retail investment and special funds), such as the violation of human rights and labor rights, atomic energy, weapons, green genetic engineering, violations of the Global Compact and other ethical principles (e.g. gambling, alcohol and the use of human embryos in research). Based on this, a high degree of responsibility and future viability was spotlighted in the investments (own and foreign capital of enterprises and analog states) by specific ESG research. To ensure compliance with the sustainability criteria and the sustainability process, both the criteria framework (extrafinancial exclusion criteria) as well as the sustainable quality (combination of data from two sustainability research agencies and our own data) are updated on a monthly basis. The “sustainability universe” that results in this way can be modified based on ad hoc events. The internal limit testing (“pre-trade testing”) and the reporting of any limit violations takes place in the asset management system on the basis of this data. The external fund audit provides further assurance on an ex post basis of the applied framework of criteria. The development of demand in the retail segment remains very strong. The volume of the six public retail investment funds listed in the table increased during 2016 by over 50 percent, and the establishment of further sustainability funds is planned for 2017 as a result. Progress continues to be made in expanding the integration of ESG principles to all funds. The ESG activities go beyond the product line of sustainability funds. For all retail investment funds, for example, a commitment has been voluntarily made in recent years to exclude investments in agricultural commodities and livestock, as well as controversial weapons, and compliance with this commitment is reviewed regularly. This equally applies to the funds being managed by the partner Investec Asset Management, London (management of global equity funds). Investec is also a signatory to the UN PRI and other initiatives relevant to ESG. As its most recent step in this direction, Raiffeisen KAG joined the “Montreal Carbon Pledge” in 2015, an initiative of the UN PRI (United Nations-supported Principles for Responsible Investment) dedicated to disclosing the CO2 footprint of investment funds. Climate change has increasingly focused discussions of responsible business activities on a withdrawal from investments in companies focused on fossil fuels (“fossil divestments”). As a result, 2016 saw an exclusion of companies whose business consists predominantly of the supply or use of coal.
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