Sustainability-related disclo­sures

PrismaLife's protection and special assets are managed in a joint portfolio, the so-called cover pool. Environ­mental and social features are adver­tised, but no sustainable invest­ments are targeted. The considered environ­mental and social charac­ter­istics include sector and value-based exclu­sions, a compre­hensive assessment of ESG factors and the CO2 intensity of the invest­ments.
As a sustainable pension specialist, PrismaLife AG consis­tently follows a two-stage investment process that includes return, liquidity and risk parameters as well as ESG objec­tives. In the first stage, the financial market-oriented analysis is carried out according to asset classes, sectors, yields and maturities as well as classic rating ratios. In the second stage, potential investment products are screened against ESG criteria and priori­tised if necessary. The investment decision is then made according to the better ESG score in each case and the lowest possible CO2 intensity, as well as consid­ering the defined exclusion criteria. Data from a recog­nised external data provider special­ising in sustain­ability analysis is used to evaluate the investment options (currently MSCI ESG Research). Existing invest­ments are regularly monitored according to the same ESG criteria. In the event of serious viola­tions or contro­versies, it is examined whether the position can be reduced.

This financial product adver­tises environ­mental or social features, but does not aim at sustainable invest­ments.

The environ­mental and social features of this financial product include the following:

• Sector and value-based exclu­sions: Exclusion criteria are applied to invest­ments. A distinction is made between criteria for companies and states.
• ESG assessment: PrismaLife uses the service of the external data provider MSCI ESG Research to assess investment options using a compre­hensive ESG rating. The invest­ments of the cover pool should show an above-average ESG score overall. In addition, new invest­ments purchased during the financial year should not worsen the ESG score of the portfolio at the end of the year.
• Green­house gas emissions: The CO2 intensity of the investment portfolio is evaluated regularly. Invest­ments with the lowest possible CO2 intensity shall be preferred and the CO2 emissions of the entire portfolio shall be below those of a non-ESG-optimised comparison portfolio.

In its cover pool, PrismaLife pursues a delib­er­ately conser­v­ative investment policy based on sustain­ability criteria. The primary objective is to generate the annual interest oblig­a­tions. This goal should also be achieved in the future by investing in sustainable invest­ments.
When selecting suitable invest­ments, classical key figures such as yield, duration and credit­wor­thiness of the issuers are first evaluated. In a second step, invest­ments suitable according to these key figures are measured against ESG criteria. Exclusion criteria apply to all new invest­ments, distin­guishing between companies and govern­ments as issuers. In addition, the invest­ments of the cover pool should achieve an above-average MSCI ESG score overall. New invest­ments purchased during the course of a financial year should not worsen the ESG score of the portfolio at the end of the year. In addition, the level of CO2 emissions of the portfolio is measured. Invest­ments with the lowest possible CO2 intensity shall be preferred and the CO2 emissions of the entire portfolio shall be below those of a non-ESG-optimised comparison portfolio.
Existing invest­ments are regularly monitored according to the same ESG criteria. In the event of a breach of the defined exclusion criteria, it is examined whether the position can be reduced.
The evalu­ation of good corporate gover­nance practices is considered in various aspects of the sustain­ability strategy pursued. On the one hand, when deter­mining the MSCI ESG rating, it is assessed, among other things, whether material risks for the investment emanate from the corporate gover­nance. In addition, minimum protection measures are anchored in the applicable exclusion criteria. Good gover­nance practices in terms of democ­ratic gover­nance are also assessed for sovereign bonds. All exclusion criteria are also regularly monitored for invest­ments in the portfolio. In the event of serious viola­tions or contro­versies, it is examined whether the position can be reduced.

This financial product adver­tises environ­mental or social features but does not aim for sustainable invest­ments. Invest­ments are mainly made in invest­ments that focus on environ­mental or social charac­ter­istics. These invest­ments are made to achieve the adver­tised environ­mental or social charac­ter­istics. In addition, cash may be held in the portfolio for liquidity purposes and strategic consid­er­a­tions. Furthermore, the category «Other invest­ments» may also include invest­ments for which no sustain­ability data is available.

The environ­mental and social charac­ter­istics of the invest­ments in the portfolio are reviewed regularly, but at least once a year. PrismaLife uses the service of the external data provider MSCI ESG Research to evaluate the invest­ments on the basis of a compre­hensive ESG rating, CO2 intensity and the defined exclusion criteria. The results of the analyses are presented to the Investment Committee. In the case of serious findings, it is examined whether the position can be reduced.

PrismaLife uses the service of the external data provider MSCI ESG Research, which provides compre­hensive sustain­ability data. The respon­sible employees at PrismaLife are trained in the use of this data and always keep their knowledge on the subject of sustain­ability up to date. At the heart of the analysis is the MSCI ESG Score, which combines a variety of data on the handling of sustain­ability risks and oppor­tu­nities as well as on adverse sustain­ability impacts into a rating for companies and countries. In addition, data on CO2 intensity and contro­versies in connection with the defined exclusion criteria are evaluated.

PrismaLife uses sustain­ability data provided by MSCI ESG Research to assess the defined exclusion criteria and to calculate the ESG score and the CO2 intensity of the portfolio. PrismaLife does not estimate any data at the current time.

Invest­ments for which MSCI ESG Research does not provide data may be made under «Other Invest-ments». These invest­ments will be included in the regular analysis. In the event that data becomes available that would argue against an investment, the case will be considered by the Investment Committee and whether the position can be reduced.

PrismaLife considers the most signif­icant adverse effects of investment decisions on sustain­ability factors in the areas of environment, social affairs and employment, respect for human rights and the fight against corruption and bribery in order to maintain due diligence in the invest­ments of the cover pool. Special consid­er­ation is given to green­house gas emissions in the area of the environment and to sviola­tions of UNGC principles and involvement in contro­versial weapons in the area of social affairs and employment. These topics are anchored in the defined exclusion criteria and are regularly monitored.
This ensures that invest­ments are not made in companies and/or financial instru­ments with partic­u­larly high adverse impacts on sustain­ability factors. If an increase in adverse impacts is identified in existing invest­ments, it is examined whether the affected positions can be reduced.

PrismaLife currently does not hold any direct equity invest­ments and can therefore not actively exercise any voting rights in the sense of an ESG commitment. In addition, in view of the compar­a­tively small cover pool, PrismaLife has hardly any oppor­tu­nities to influence ESG aspects by actively exercising voting rights.

Pre-contractual ESG infor­mation

Sicherungsver­mögen der PrismaLife AG

Sonderver­mögen Taggeld