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Information für professionelle Anleger - 1.7.2022

Wie gelingt ESG-Integration durch aktives Management?

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Viele Investoren hadern weiterhin, wie CO2-intensive Geschäftsmodelle für ein klimaneutrales Investment zu behandeln sind, da sie ein Mindest-Rating häufig nicht erreichen. Um den CO2-Fußabdruck des eigenen Portfolios zu reduzieren, werden Investitionen auch in Unternehmen zurückgefahren, die sich womöglich gerade ökologisch verändern.

Wie können vorhandene Nachhaltigkeitsdaten Abhilfe schaffen und wie wird sich eine soziale Taxonomie zukünftig auf die Bewertung von Unternehmen auswirken?

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Daniel Sailer, Leiter des Sustainable Investment Office bei Metzler Asset Management, erläuterte in der virtuellen Gesprächsrunde bei Citywire, dass Klimaneutralität und CO2-intensive Geschäftsmodelle kein Widerspruch sein müssen. „Die richtigen Daten auszuwählen und diese zu interpretieren kann aber nur ein aktives Management, keine Maschine“, ist sich Sailer sicher. Eine Vorgehensweise, die das Portfoliomanagement bei Metzler Asset Management verfolgt. Dabei sucht es den persönlichen Dialog mit den Unternehmen und nutzt vorhandene Informationen auch unter sozialen Kriterien für eine Bewertung von Investmentmöglichkeiten, welche von einem starren Best-in-Class-Ansatz abweichen kann.

Der ESG-Roundtable von Citywire wurde von Serge Debrebant, stellvertretender Chefredakteur von Citywire Deutschland moderiert. Neben Daniel Sailer zählten Sabine Knee, Fondsmanagerin bei Heemann Vermögensverwaltung, Janine Brune, Portfoliomanagerin bei Berenberg, Christian Staritzbichler, Senior Fondsmanager bei Raiffeisen Capital Management und Christian Aselmann, Sustainable Investment Manager bei Warburg Invest zu den Gesprächsteilnehmern.

Einen Zusammenschnitt des Gesprächs sehen Sie bei Citywire.

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This document published by Metzler Asset Management GmbH [together with its affiliated companies as defined in section 15 et seq. of the German Public Limited Companies Act (Aktiengesetz – “AktG”), jointly referred to hereinafter as “Metzler“] contains information obtained from public sources which Metzler deems to be reliable. However, Metzler cannot guarantee the accuracy or completeness of such information. Metzler reserves the right to make changes to the opinions, projections, estimates and forecasts provided in this document without notice and shall have no obligation to update this document or inform the recipient in any other way if any of the statements contained herein should be altered or prove incorrect, incomplete or misleading.

The information contained in this document is not tailored to the specific investment objectives, financial situations or needs of individual recipients. Before acting on the basis of the information or recommendations contained in this document, the recipient should consider whether the decision is suitable for his or her personal circumstances and, if in doubt, seek the advice of a qualified professional.

Past performance cannot be regarded as an indicator of future performance. It cannot be guaranteed that a portfolio will repeat its past performance in the future. Any gains generated by investments are subject to fluctuations; the price or value of any financial instrument described in this document may rise or fall. Moreover, the actual performance of a portfolio depends on its asset volume as well as on the agreed fee structure and external expenses.

The model calculations contained in this document, if any, are examples showing the possible performance and are based on various assumptions (e.g. regarding earnings and volatility). Actual performance may be higher or lower, depending on market developments.

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The European Transparency Logo for Sustainability Funds indicates that a fund manager undertakes to provide accurate, adequate and timely information in order to help interested parties, particularly clients, understand the sustainable investment approaches and methods behind the fund in question. Details pertaining to the European Transparency Guidelines can be found at www.eurosif.org. Details on Metzler’s sustainable investment policy and the implementation of this policy in the individual funds can be found at: www.metzler.com/download-fonds. The Transparency Guidelines are managed by Eurosif, an independent organization.

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