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Sustainability-related disclosures

Sustainability-related disclosures for our advisory mandates

Integration of sustainability risks

At Bank Julius Baer Europe S.A. and its branches, we believe that creating value sustainably, requires a focus not only on cash flows and profits, but also on the responsible interaction with society as a whole. A full body of literature shows that long-term financial success is built on proper governance and consideration of social and environmental factors. As an investment advisor, we have therefore created dedicated sustainability advisory mandates, which make sure the environmental, social or governance (“ESG”) considerations are taken into account within the advisory process.

In this context, we consider sustainability risks (risks arising from ESG objectives, events or conditions) as critical aspects in the overall risk management framework of Bank Julius Baer Europe S.A. and its branches. Rather than managing sustainability risk on a standalone basis, our internal processes foresee that ESG risk factors and assessments are integrated in the individual assessment of the existing risk categories.

When it comes to the successful integration of sustainability risks into the investment advisory process, we believe that it all starts with a sound product governance framework. Hence, Bank Julius Baer Europe S.A. and its branches have started to implement new policies and processes that ensure a continuous screening of sustainability risks, which finally has an impact on our recommended investment universe. In this context, Bank Julius Baer Europe S.A. and its branches already adhere since 2016 to an internal policy pertaining to the prohibition to finance companies that are active in the development, manufacture or acquisition of prohibited war material, which ultimately results in the exclusion of affected companies from our investment universe.

Furthermore, for the sustainability advisory mandates the Responsible Investment Committee of the Julius Baer Group Ltd (the Group) also monitors investee companies for controversies, such as unethical behavior, bribery or corruption. As part of our screening and monitoring processes, our internal financial analysts and specialists in the area of sustainable investments take into account dedicated ESG data from third party vendors, publicly available information as well as information gathered from direct engagement with the investee companies for our sustainability advisory mandates. For example, for funds we maintain an in-house fund rating methodology, whereby, the outcome of in-depth research and analysis for all recommended funds is quantified with a Responsible Investment Fund Rating (RIFR).

The main goal of the sustainability risk integration into our advisory processes for sustainability advisory mandates is to provide further information to our clients, highlighting as many investment-related risks as possible, so that sound, holistic decisions can be made by our clients. For this purpose, the available investment universe and consequently the advice provided also depends on the expressed preferences and selected financial service by our clients.

No consideration of sustainability adverse impacts

In accordance with Article 4 (5) of Regulation (EU) 2019/2088 of 27 November 2019 on sustainability-related disclosures in the financial services sector, Bank Julius Baer Europe S.A. and its branches do not consider the adverse impacts of investment decisions on sustainability factors in its investment advice as displayed in the corresponding Regulatory Technical Standards. The factors listed in this Table include impacts on the climate, on social and employee matters or on human rights.

This is due to the lack of clear, reliable and structured data on principal adverse impacts by investee companies and data providers. However, we are closely monitoring the regulatory developments and developments with regard to data provisioning on adverse sustainability impacts, and reevaluate this position, whether to include such enhanced information into our internal selection processes for our financial instrument universe on a continuous basis. As long as the principal adverse impact data is not generally available, we continue with our well-established product governance processes.  

Information about our remuneration policy

Bank Julius Baer Europe S.A. and its branches, a wholly owned subsidiaries of Julius Baer Group, Ltd. , recognize the importance of environmental, social and governance (“ESG”) sustainability elements throughout our business activities, including our compensation systems. In accordance with the Group’s standards, ESG is reflected in various aspects of our compensation systems at regional, divisional and individual levels through proper governance, performance measurement standards (around values, client satisfaction and employee development) and risk management considerations.

At Julius Baer, the compensation schemes are designed to ensure compliance with global rules and regulations and the ESG considerations embedded within them, while specifically incorporating location-specific guidelines, in support of a sound risk culture. Group-wide compensation decisions include assessments of financial-, market-, legal-, risk-, and compliance-related metrics to ensure compensation properly reflects both, internal and external factors. Bank Julius Baer Europe S.A and its branches, also employ a compensation deferral mechanism, with risk-adjusted performance metrics, to deter excessive risk-taking. Socially, Bank Julius Baer Europe S.A. and its branches operates various initiatives related to talent management, workforce diversity, and employee satisfaction, which we strengthen each year to help us attain our Employer of Choice goals and support our sustainability aspirations. At the individual level, all employees are held to high conduct standards via our Code of Ethics and Business Conduct (redefined in 2020) and are specifically measured on their ability to reflect our core Values (Care, Passion, and Excellence) and Risk Behaviours in their business activities.

Sustainability-related disclosures for our discretionary portfolio management mandates

Integration of sustainability risks

At Bank Julius Baer Europe S.A and its branches, we believe that creating value sustainably, requires a focus not only on cash flows and profits, but also on the responsible interaction with society as a whole. A full body of literature shows that long-term financial success is built on proper governance and consideration of social and environmental factors. In our capacity as investment manager, we make sure that the environmental, social or governance (“ESG”) considerations are taken into account within our investment management processes and in particular for our sustainability discretionary mandates.

In this context, we consider sustainability risks (risks arising from ESG objectives, events or conditions) as critical aspects in the overall risk management framework of Bank Julius Baer Europe S.A and its branches.  Rather than managing sustainability risk on a standalone basis, our internal processes foresee that ESG risk factors and assessments are integrated in the individual assessment of the existing risk categories.

When it comes to the successful integration of sustainability risks into the investment management processes, we believe that it all starts with a sound product governance framework. Hence, Bank Julius Baer Europe S.A and its branches have started to implement new policies and processes that ensure a continuous screening of sustainability risks, which finally has an impact on our investable instrument universe. In this context, Bank Julius Baer Europe S.A and its branches already adhere since 2016 to an internal policy pertaining to the prohibition to finance companies that are active in the development, manufacture or acquisition of prohibited war material, which ultimately results in the exclusion of affected companies from our investment universe.

Furthermore, for the sustainability discretionary mandates the Responsible Investment Committee of the Julius Baer Group, Ltd (the Group)  also monitors investee companies for controversies, such as unethical behavior, bribery or corruption. As part of our screening and monitoring processes, our internal financial analysts and specialists in the area of sustainable investments take into account dedicated ESG data from third party vendors, publicly available information as well as information gathered from direct engagement with the investee companies for our sustainability discretionary mandates. For example, for funds we maintain an in-house fund rating methodology, whereby, the outcome of in-depth research and analysis for all recommended funds is quantified with a Responsible Investment Fund Rating (RIFR).

The main goal of the sustainability risk integration into our investment management processes for sustainability discretionary mandates is to highlight as many investment-related risks as possible, so that sound, holistic investment decisions can be made for our clients’ portfolios. In this context, the available investment universe for our investment managers also depends on the expressed preferences and selected financial service by our clients.

No consideration of sustainability adverse impacts

In accordance with Article 4 (1) of Regulation (EU) 2019/2088 of 27 November 2019 on sustainability-related disclosures in the financial services sector, Bank Julius Baer Europe S.A and its branches, do not consider the adverse impacts of its investment decisions on sustainability factors as displayed in the corresponding Regulatory Technical Standards. The factors listed in this Table include impacts on the climate, on social and employee matters or on human rights.

Due to the lack of clear, reliable and structured data on principal adverse impacts from investee companies as well as data providers at this point in time, we do not believe there is currently enough maturity on this topic to produce a meaningful principal adverse impact report.  However, we are closely monitoring the regulatory developments and developments with regard to data provisioning on adverse sustainability impacts, and reevaluate this position on a continuous basis.

In the meantime, we remain conscious of the sustainable objectives, and provide our clients with sustainability mandates with regular reports that also comprise sustainability related adverse impacts. For this purpose, we have developed our own in-house environmental, social and governance (“ESG”) methodology for the impact calculation. Moreover, we have employed internal financial analysts and specialists in the area of sustainable investments, which also engage directly with the management of investee companies to better understand the risks of adverse impacts on sustainability factors.

Information about our remuneration policy

Bank Julius Baer Europe S.A and its branches, a wholly owned subsidiaries of Julius Baer Group, Ltd., recognize the importance of environmental, social and governance (“ESG”) sustainability elements throughout our business activities, including our compensation systems. In accordance with the Group’s standards, ESG is reflected in various aspects of our compensation systems at regional, divisional and individual levels through proper governance, performance measurement standards (around values, client satisfaction and employee development) and risk management considerations.

At Bank Julius Baer Europe S.A and its branches, the compensation schemes are designed to ensure compliance with global rules and regulations and the ESG considerations embedded within them, while specifically incorporating location-specific guidelines, in support of a sound risk culture. Group-wide compensation decisions include assessments of financial-, market-, legal-, risk-, and compliance-related metrics to ensure compensation properly reflects both, internal and external factors. Bank Julius Baer Europe S.A and its branches also employs a compensation deferral mechanism, with risk-adjusted performance metrics, to deter excessive risk-taking. Socially, Bank Julius Baer Europe S.A and its branches operates various initiatives related to talent management, workforce diversity, and employee satisfaction, which we strengthen each year to help us attain our Employer of Choice goals and support our sustainability aspirations. At the individual level, all employees are held to high conduct standards via our Code of Ethics and Business Conduct (redefined in 2020) and are specifically measured on their ability to reflect our core Values (Care, Passion, and Excellence) and Risk Behaviours in their business activities.