This pension fund does not have a sustainable investment goal. Although it does not have a sustainable investment goal, it promotes environmental or social characteristics and at least 20% of the investments will be sustainable. The pension fund promotes a series of social and environmental characteristics by assessing certain business practices of the corporates in which it invests. These practices relate to carbon emissions, water management, impact on biodiversity and soil, waste management and toxic emissions, employee management, and health and safety measures.
The fund uses an ESG rating from a provider of recognised standing as an indicator for analysing progress related to the promoted environmental and social characteristics. This indicator offers an overall assessment of the environmental and social characteristics described above. Specifically, the ESG rating identifies the most relevant environmental, social and governance variables based on the sector or sub-industry to which the corporate belongs. The assessment of environmental, social and governance practices is carried out according to a seven-level scale and identifies: corporates with high exposure to extra-financial risks without the capacity to manage them, corporates with mixed historical management in relation to their extra-financial risks, and corporates that lead their industry in terms of risk management and sustainability opportunities.
The pension fund takes into account the principal adverse impacts throughout the investment process, with the aim of managing the most significant indicators for the portfolio as a whole. Information on adverse impacts is obtained through the preparation of periodic sustainability reports for the portfolio. This report is proposed in EU Regulation 2019/2088 for products classified as Art. 8.
Investments that promote sustainable characteristics will make up at least 80% of the assets in the pension fund portfolio. These investments will in turn represent at least 20% of the assets in sustainable investments with a social and/or environmental goal in accordance with the definition of the applicable Regulation (EU) 2019/88, together with the parameters indicated previously in this document. However, the investments with an environmental goal do not conform to the EU taxonomy.
MIXED EQUITY fund that invests in global equity as follows: at least 25% of its assets and up to a maximum of 50% of its assets, with this exposure occasionally reaching 60%.
See the pre-contractual information for this pension plan.