is spokesman of Deutsche Rück and head of our Communications Department
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Düsseldorf, 10 October 2019 – The Deutsche Rückversicherung Group and VöV Rückversicherung KöR joined the investor initiative “PRI” (Principles for Responsible Investment) on 17 September 2019. PRI was established back in 2005 under the auspices of the United Nations. “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”, says Michael Rohde, member of the Board of Executive Directors of the Deutsche Rück Group and VöV Rückversicherung KöR who is responsible for investments.
PRI is a globally recognised financial initiative for responsible investment working together with the UN partner organisations Global Compact and UNEPFI. 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 (environmental, social, governance, or “ESG” for short). The initiative aims to promote responsible investment management.
“By signing the PRI, we are living up to the social responsibility that we have as a reinsurance company”, says Rohde. “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.”
With Deutsche Rück and VöV Rück, the group of German public insurers also joins the PRI initiative. “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”, says Dustin Neuneyer, Head of Germany and Austria at PRI. “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.”
Deutsche Rück and VöV Rück engage in regular dialogue with the German public insurers to discuss the integration of ESG criteria. “We are grateful for the opportunity to be able to learn from each other’s experience as we take this important step”, says Rohde.
By signing the PRI, the Deutsche Rückversicherung Group and VöV Rückversicherung KöR have made a commitment to the six basic principles of responsible investment:
1. We will incorporate ESG issues into our investment analysis and decision-making processes.
2. We will act as activist shareholders and consider ESG issues in our investment policies and practices.
3. We will encourage companies and corporations in which we invest to make appropriate disclosures on ESG issues.
4. We will promote the acceptance and implementation of the principles in the investment industry.
5. We will collaborate to make ourselves more effective in implementing the principles.
6. We will report on our activities and on the progress made in implementing the principles.