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Raiffeisen Bank International | Sustainability Report 2017
GRI content index / Assurance statement Engaged citizen Fair partner Responsible banker Sustainability management Overview Foreword
Sustainable Funds of Raiffeisen KAG and RSI V olume (million €)
Retail investment funds(Raiffeisen KAG)
Raiffeisen-Nachhaltigkeit-ShortTerm 39.4
Raiffeisen-GreenBonds 52.4
Raiffeisen-Nachhaltigkeit-Solide 79.3
Raiffeisen-Nachhaltigkeit-Diversified 27.7
Raiffeisen-Nachhaltigkeit-Mix 515.4
Raiffeisen-Nachhaltigkeit-Momentum 56.6
Raiffeisen-Nachhaltigkeit-Aktien 102.1
Raiffeisen-Nachhaltigkeit-EmergingMarkets-Aktien 6.0
Further retail investment funds (Raiffeisen KAG)
Raiffeisen-Österreich-Rent 319.4
Raiffeisen-Global-Aktien 564.7
Retail investment funds RSI
Klassik Nachhaltigkeit Solide 30.2
Klassik sustainability Mix 18.1
8 special funds and mandates (partly abroad) 557.8
Fund administration Raiffeisen KAG (5 funds) 480.7
Total 2,849.8
Status: December 29, 2017
Note: Fund administration means that all typical fund services are carried out by the KAG, except for portfolio management in the narrower sense.
Strict exclusion criteria for the management are defined in the dedicated sustainability funds (retail 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 (equity and debt capital of enterprises and states analogously) by self-developed, specific ESG research.
To ensure compliance with the sustainability criteria and the sustainability process, both the criteria framework
(extra-financial exclusion criteria) as well as the sustainable quality (combination of data from two sustainability
research agencies and own data) are verified and 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
reporting any limit violations takes place in the asset management system on the basis of this data. The external
fund audit also provides further assurance of the applied framework of criteria on an ex post basis.
The development of demand in the retail segment remains very strong, so that additional sustainability funds were
launched in 2017 again. The volume of the eight retail investment funds listed in the table increased during 2017 by
over 50 percent. Likewise, progress is made in expanding the integration of ESG principles to all funds. These
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. In 2017, an exclusion of companies whose business consists
predominantly of the supply or use of coal was implemented. Compliance with these exclusions is regularly
reviewed. In 2017, these exclusion categories are implemented in all retail investment funds and almost all special
funds. Minor restrictions with regard to third-party funds apply only in the case of umbrella funds containing
third-party funds. This equally applies to the funds being managed by the partner Investec Asset Management,
London, as manager of certain global equity fund. Investec is also a signatory to the UN-PRI and other initiatives
relevant to ESG.
The UN-PRI was signed in 2013, while, at the same time, the competence and capacity of the management was
expanded as a significant step toward the integration of sustainability elements into the total investment, initially
on the basis of KAG publicly offered funds (retail funds). Additional information systems were also purchased
and integrated for the increased integration of ESG research. Furthermore, Raiffeisen KAG has been an active
member of the Sustainable Investment Forum, the professional association for sustainable investment in Germany,