For certain asset classes, regions, or sectors, ESG Factors are either insufficiently defined at present or no ESG data are available from external providers. In this case, we may use additional analyses, such as information obtained from specialized data providers and proprietary sources, to achieve a meaningful coverage on ESG data.
Maximum 20% of direct fixed income and listed equity investments of an investment fund may be allocated to investments for which no ESG-related information is available. We expect this limit to be lower in practice and to keep getting lower over time as the availability of ESG data and disclosure on related indicators improve.