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Sustainability-related disclosures

Sustainability-related disclosure for our advisory mandates

Integration of sustainability risks

At Bank Julius Bär Deutschland AG, 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. Furthermore, we pay attention to environmental, social or governance (“ESG”) considerations 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 Bär Deutschland AG. Within our Products and Services Platform, ESG risk factors and assessments on an instrument level are made available to relationship managers and investment advisors, allowing for an integration of ESG considerations into individual assessment of 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 Bär Deutschland AG, has 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 Bär Deutschland AG already adheres since 2019 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, the Responsible Investment Committee of the Julius Baer 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 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 output of the Responsible Investment Committee’s assessments as well the RIFR, are made available within our Products and Services Platform, allowing them to be integrated in the advisory process.

The main goal of the integration of sustainability risk into our assessments and ratings on an instrument level 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 principle 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 Bär Deutschland AG, does not consider the adverse impacts of investment decisions on sustainability factors in its investment advice as displayed in Table 1 of the 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 on remuneration policy

Bank Julius Bär Deutschland AG (Julius Baer), a wholly owned subsidiary of Julius Baer Group, Ltd. (the Group), recognizes 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. Julius Baer also employs a compensation deferral mechanism, with risk-adjusted performance metrics, to deter excessive risk-taking. Socially, Julius Baer 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 disclosure for our discretionary portfolio management mandates

Integration of sustainability risks

At Bank Julius Bär Deutschland AG, 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. Furthermore, we pay attention to environmental, social or governance (“ESG”) considerations within the investment management processes.

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 Bär Deutschland AG, has 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 Bär Deutschland AG already adheres since 2019 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 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 principle 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 Bär Deutschland AG, does not consider the adverse impacts of investment decisions on sustainability factors as displayed in Table 1 of the 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 on remuneration policy

Bank Julius Bär Deutschland AG (Julius Baer), a wholly owned subsidiary of Julius Baer Group, Ltd. (the Group), recognizes 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. Julius Baer also employs a compensation deferral mechanism, with risk-adjusted performance metrics, to deter excessive risk-taking. Socially, Julius Baer 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.