Reinsurance News

Deutsche Rück and VöV Rück commit to sustainable investments

14th October 2019 - Author: Matt Sheehan

German reinsurers The Deutsche Rückversicherung Group (Deutsche Rück) and VöV Rückversicherung KöR (VöV Rück) have joined an investor initiative that will see them commit to more sustainable investment practices.

financial-climate-riskThe companies signed the Principles for Responsible Investment (PRI), a financial initiative that was established with help from the United Nations back in 2005.

The objective of the principles is to facilitate a better understanding of the impact that investment decisions have on environmental aspects, social issues and factors relating to good corporate governance (ESG).

“By signing this agreement, we are making a commitment to focusing on sustainable investment and to taking ecological, social and ethical criteria into account when we make our investment decisions”, said Michael Rohde, member of the Board of Executive Directors of the Deutsche Rück Group and VöV Rückversicherung KöR who is responsible for investments.

“By signing the PRI, we are living up to the social responsibility that we have as a reinsurance company,” Rhode continued.

“The implementation of the PRI will allow us to further develop our sustainable investment approach and to reconcile the four investment criteria of security, liquidity, returns and sustainability. We hope that this step will also encourage other companies to use their investment activities to promote sustainable development.”

By signing up to the initiative, Deutsche Rück and VöV Rück are committing to incorporate ESG issues in its investment analysis and decision-making processes, and to act as activist shareholders in its investment practices.

They will also encourage companies they invest in to make appropriate disclosures on ESG issue and promote implementation of these principles in the investment industry.

Finally, the reinsurers will collaborate to make themselves more effective in implementing these principles, and will reports on their activities and progress.

Dustin Neuneyer, Head of Germany and Austria at PRI, commented: “We very much welcome the fact that a group of asset owners of this size and importance has made the decision to help shape sustainable development by investing accordingly.”

“Asset owners are at the very beginning of the investment chain and send out corresponding signals through asset management to the corporate sector and industry alike. An integrated approach to ESG criteria is also important as regards the stability and performance of the investment itself.”

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