To the extent that the fund seeks to attain the promoted environmental and social characteristics as well as the corporate governance practices also by means of an investment in target funds, the latter must meet the DWS standards on Climate and Transition Risk and Norm Assessment as outlined above.
Derivatives are currently not used to attain the environmental and social characteristics promoted by the fund, which is why they are not taken into account in the calculation of the minimum proportion of assets that fulfill these characteristics. However, derivatives on individual issuers may be acquired for the fund if, and only if, the issuers of the underlyings fulfill the ESG assessment methodology.
The ESG assessment methodology is not used for liquid assets.
Sustainability investment assessment methodology
Further, for the proportion of sustainable investments DWS will measure the contribution to one or several UN SDGs via its sustainability investment assessment which evaluates potential investments in relation to different criteria to conclude that an economic activity can be considered as sustainable as further detailed in section “What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?”
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
The applied ESG investment strategy does not pursue a committed minimum reduction of the scope of the investments.
What is the policy to assess good governance practices of the investee companies?
The procedure to assess the good governance practices of the investee companies is based on the DWS Norm Assessment, as further detailed in the dedicated section “What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?”. Accordingly, the assessed investee companies follow good governance practices.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
Further, the management company considers active ownership as a strong driver to improve governance, policies and practices, and thus for a better long-term performance of investee companies. Active ownership means using the position as shareholders to influence the activities or behaviour of the investee companies. An engagement activity can be initiated with the investee companies regarding matters such as strategy, financial and non-financial performance, risk, capital structure, social and environmental impact as well as corporate governance including topics like disclosure, culture and remuneration. The engagement activity can be undertaken via, e.g., issuer meetings or engagement letters. Furthermore, for equity investments it could also be an interaction with the company resulting from proxy voting activities or participation at general meetings.
What is the asset allocation planned for this financial product?
This fund invests at least 51% of its net assets in investments that are aligned with the promoted environmental and social characteristics (#1 Aligned with E/S characteristics). Within this category, at least 5% of the fund’s assets qualify as sustainable investments (#1A Sustainable).
Up to 49% of the investments are not aligned with these characteristics (#2 Other). A more detailed description of the specific asset allocation of this fund can be found in the Special Section of the Sales Prospectus.
Asset allocation describes the share of investments in specific assets.
Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
Taxonomy-aligned activities are expressed as a share of:
- turnoverreflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.

Translation (ENDE, 2023-01-01):
To the extent that the fund seeks to attain the promoted environmental and social characteristics as well as the corporate governance practices also by means of an investment in target funds, the latter must meet the DWS standards on Climate and Transition Risk and Norm Assessment as outlined above.
Derivatives are currently not used to attain the environmental and social characteristics promoted by the fund, which is why they are not taken into account in the calculation of the minimum proportion of assets that fulfill these characteristics. However, derivatives on individual issuers may be acquired for the fund if, and only if, the issuers of the underlyings fulfill the ESG assessment methodology.
The ESG assessment methodology is not used for liquid assets.
Sustainability investment assessment methodology
Further, for the proportion of sustainable investments DWS will measure the contribution to one or several UN SDGs via its sustainability investment assessment which evaluates potential investments in relation to different criteria to conclude that an economic activity can be considered as sustainable as further detailed in section “What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives?”
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
The applied ESG investment strategy does not pursue a committed minimum reduction of the scope of the investments.
What is the policy to assess good governance practices of the investee companies?
The procedure to assess the good governance practices of the investee companies is based on the DWS Norm Assessment, as further detailed in the dedicated section “What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product?”. Accordingly, the assessed investee companies follow good governance practices.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
Further, the management company considers active ownership as a strong driver to improve governance, policies and practices, and thus for a better long-term performance of investee companies. Active ownership means using the position as shareholders to influence the activities or behaviour of the investee companies. An engagement activity can be initiated with the investee companies regarding matters such as strategy, financial and non-financial performance, risk, capital structure, social and environmental impact as well as corporate governance including topics like disclosure, culture and remuneration. The engagement activity can be undertaken via, e.g., issuer meetings or engagement letters. Furthermore, for equity investments it could also be an interaction with the company resulting from proxy voting activities or participation at general meetings.
What is the asset allocation planned for this financial product?
This fund invests at least 51% of its net assets in investments that are aligned with the promoted environmental and social characteristics (#1 Aligned with E/S characteristics). Within this category, at least 5% of the fund’s assets qualify as sustainable investments (#1A Sustainable).
Up to 49% of the investments are not aligned with these characteristics (#2 Other). A more detailed description of the specific asset allocation of this fund can be found in the Special Section of the Sales Prospectus.
Asset allocation describes the share of investments in specific assets.
To comply with the EU Taxonomy, the criteria for fossil gas include limitations on emissions and switching to renewable power or
low-carbon fuels by the end of 2035. For nuclear energy, the criteria include comprehensive safety and waste management rules.
br>Enabling activities directly enable other activities to make a substantial contribution to an environmental objective.
Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.
Taxonomy-aligned activities are expressed as a share of:
- turnoverreflecting the share of revenue from green activities of investee companies
- capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy.
- operational expenditure(OpEx) reflecting green operational activities of investee companies.