[F13] Socially Responsible Investment Framework

[F32] Políticas de inversión socialmente responsable

The inclusion of ESG criteria (Environmental, Social and Corporate Governance) and their integration in investment management can have a favourable effect on the long-term financial results of companies and contribute to greater economic and social progress.

Therefore, in accordance with the mission and values of CaixaBank, VidaCaixa takes into consideration the criteria of socially responsible investment in the management of its investments based on the principles of sustainable investment and transparency in management.

We integrate the ESG factors taking the PRI criteria as our main reference (Principles of Responsible Investment of the United Nations, to which we adhered in 2009).

Similarly, our investment management takes VidaCaixa’s Human Rights Policy into consideration. This sets out our commitment to respect international declarations:

  • The United Nation International Charter of Human Rights, which includes the Universal Declaration of Human Rights
  • The ILO Declaration (International Labour Organisation) on Fundamental Principles and Rights at Work 
  • The United Nations Guiding Principles on Business and Human Rights
  • The OECD Guidelines for Multinational Enterprises 
  • The United Nations Global Compact.

The integration of the ESG criteria in investment management as a principle of action is compatible with establishing, if deemed appropriate, criteria for the exclusion of certain assets from the investment portfolio. In general, VidaCaixa manifests its opposition to investments in enterprises or States that engage in reprehensible practices that vulnerate international treaties such as The United Nations Global Compact, of which we are signatories. In like manner, VidaCaixa will not invest in the weapons sector, inspired by the Group’s Policy on defence.

The ESG analysis is intended to apply to all the assets in the portfolio and to improve constantly in the medium to long-term. To achieve this, we have the support of partners to set up the definition of the criteria, the best methodology and all the necessary procedures to carry it out. We also participate in the ESG forums and working groups. We coordinate with the other companies in the Group and collaborate in the development of regulations that are raised at an international level, such as the Sustainable Finance Action Plan of the European Commission.

We want to be an active owner of our investments and exercise the rights derived from them, particularly in the areas marked by the PRI:

  • Participating directly or indirectly in forums and working groups that pursue the fostering of dialogue with asset managers and enterprises in which they invest, and even ending up disinvesting in case of incompatibility with the above-mentioned aspects or with our policies.
  • Exercising our own policy rights on the positions held in variable income or in representation of our customers and attending annual shareholders’ meeting and voting with a PRI-minded vote.

Learn more about our sustainable investment here.