77
Central positive criteria (examples): Exclusion criteria (examples):
Responsible dealings with employees Weapons
Active environmental policy Nuclear power
Sustainable products Serious deficits in democracy or human rights violations
Raiffeisen Bank International | Sustainability Report 2018
Management Overview Foreword
of sustainability
Responsible
banker
Fair partner –
Human Resources
Fair partner –
Inhouse ecology
Engaged
citizen
GRI index and
Assurance report
Valida Vorsorge Management
The Valida staff provision fund is responsible for processing the obligatory contributions under “Abfertigung Neu”
for a total of 2.3 million employees and self-employed persons. The contributions it manages are in the amount of
approx. € 2.8 billion. The “Valida staff provision fund sustainability concept” (see valida.at/nachhaltigkeitskonzept)
defines the ethical criteria for capital investment.
The consultancy firm Mag. Reinhard Friesenbichler Unternehmensberatung
(rfu), a specialist in sustainable investment, reviews the level of sustainability for
the entire corporate assets of the Valida staff provision fund twice yearly. The
individual investments are rated on a scale of 0 to 200. Investments with a
sustainability score of 100 points or more are to be regarded as sustainable.
The scores of the individual portfolio positions are aggregated at the level of the overall portfolio and result in an
overall sustainability score.
Additionally, the investments are assigned to one of the following sustainability classes:
1) Sustainability funds
2) Sustainable individual instruments
3) Sustainably oriented funds
4) Conventional funds (not sustainable)
The goals for the sustainable capital investment of the Valida staff provision fund are as follows:
• All investments should be allocable to one of three sustainable investment classes. At the 2018 reporting date,
the Valida staff provision fund held no conventional funds. This means that 100 percent of the assets were
invested in the above three classes of sustainability.
• The sustainability score for the entire portfolio should be over 140 points.
At the reporting date of December 31, 2018, the Valida staff provision fund exceeded this target at 152 points.
Valida therefore clearly met all of the goals of sustainable investment.
ÖGUT certification: The Valida staff provision fund is audited and
certified annually by the Austrian Society for Environment and
Technology (ÖGUT). In 2018, the Valida staff provision fund once
again received the “ÖGUT Gold” award, the best possible, for the
year 2017. This is the sixth ÖGUT Gold certification in a row. In addition to the
ethical investment factor, communication and transparency in regard to
sustainability, in-house ecological aspects, staff policy and corporate citizenship
all play a role.
The Valida Group also supports the UN Sustainable Development Goals
(SDGs). As part of its sustainability efforts, it contributes in particular to the
attainment of three SDGs: Sustainable Energy (SDG 7), Combating
Climate Change (SDG 13), and Justice (SDG 16). Sustainable energy
generation is one of the positive criteria for investing in the staff provision fund, while investments in nuclear
power are excluded (SDG 7). Valida has been regularly measuring the CO2 footprint of the staff provision
fund’s equity portfolio since 2016. Among the criteria for exclusion in the case of government bonds is a
“Passive Climate Policy” (SDG 13).