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19 July 2021

Sava Insurance Group adopts sustainable investment policy

Under its sustainable development strategy for 2020–2022, the Group gradually and systematically incorporates ESG criteria into its decision-making processes and continues the development of a methodology for assessing the sustainability of its investments.

Sustainable investment policy adopted

At the end of June, the Group adopted the “Sustainable investment policy of the Sava Insurance Group”, which focuses on greenhouse gas emissions and on reducing their impact on climate change. The policy includes an exclusion list of industries that it does not want to be part of its future investment portfolio. The exclusion list relates to entities or projects with a substantial part of their total revenue from the production or sale of alcohol, tobacco, adult entertainment, gambling products and services, thermal coal production, shale oil, nuclear energy production, military industries or the manufacture of controversial weapons.

This sustainable investment policy is driven by the “Sustainable development strategy of the Sava Insurance Group for 2020–2022”, in which the Group committed to gradually introduce ESG criteria, covering environmental, social and governance issues, into all decision-making processes. Thereby, the Group also realises its vision of building a sustainability-oriented insurance group. The Group’s strategy is aligned with the Regulation on Sustainability-Related Disclosure in the Financial Services Sector (Sustainable Finance Disclosure Regulation, SFDR) ((EU) 2019/2088) adopted by the European Parliament and the European Commission as part of the European Commission’s Action Plan on Financing Sustainable Growth in December 2019. The purpose of this Regulation is to increase transparency regarding sustainability features and investments for end consumers.

The Sava Insurance Group supports this initiative and is preparing for shouldering more social responsibility.

Joining the United Nations Global Compact

In early July, we joined the United Nations Global Compact. We have also decided to become signatories to the United Nations Principles for Responsible Investment in 2021. These commitments will further support us in bringing the principles of responsible investment into our investment decisions.