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In accordance with Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (“SFDR”), we are required to provide you with information on how we integrate sustainability risks in our investment decision and advisory processes.
Sustainability risks mean specific Environmental, Social or Governance (“ESG”) events or conditions that can cause a negative or a positive impact on the value of the investment.
We are committed to sustainable and responsible investments and to supporting sustainable financial markets. As a group aiming to produce financial returns for our clients, we believe that to obtain a rounded view of investments, of their risks and opportunities we need to consider ESG issues. While it is not always possible to directly link ESG considerations to financial value, we believe ESG performance can provide a proxy for the quality of management and for the capacity of the investee to deliver sustainable competitive advantage.
To better drive the ESG integration process, EFG Group built an ESG analysis team that collaborates with the investment teams worldwide. This team structures and maintains bespoke tools and analyses that help monitor sustainability risk in the investments and products managed by us and cooperates with other teams to define processes that are consistent across the group.
We decided not to consider the adverse impact of investment decisions on sustainability factors due to the late release of the final Regulatory Technical Standards issued by the Joint Committee of European Supervisory Authorities (JC 2021 03) and we plan to revisit this decision by the year end.
EFG has a Group wide Remuneration Policy that sets the framework for coherent and consistent compensation practices across the entire Group. The aim of the policy is to create a framework that facilitates long-term value creation in line with EFG’s corporate values and that does not leave room for unsustainable behaviour, forcing the respect of our social and governance practices. It ensures that our employees act in a responsible manner, aligning stakeholders’ and business’ needs. Variable remuneration is aligned with long term objective and to individual and company performance and the employee’s appraisal emphasises the contribution, achievement of objectives, risk management, risk awareness and behaviour under the umbrella of our values represented by the Group’s Code of Conduct, in a simple and transparent process. Any unethical behaviour or disrespect of internal and external regulation is strongly considered. Our Remuneration Policy does not create incentives for taking inappropriate risk, nor does it create incentives that lead to any conflicts of interest among employees or in relationships with EFG’s clients. Where appropriate, the remuneration model enables for the option of reducing or cancelling prior year deferred remuneration. EFG promotes an equal compensation opportunity approach and strives to balance shareholders’ expectations and employees’ remuneration. EFG Group is also committed to add further sustainability-related objectives in next year’s remuneration process.