As the first financial institution in Europe, Erste Group has joined the European Commission’s Green Consumption Pledge initiative to accelerate its contribution to a sustainable economic recovery. The Green Consumption Pledge is the first initiative delivered under the New Consumer Agenda and part of the European Climate Pact. In addition to the first five companies who joined the initiative at the start of this year, Erste Group is among six companies participating in the second round of the initiative’s pilot phase.
“I welcome the commitments made by those six companies for concrete actions towards greater sustainable production and consumption, beyond what is required by EU law. This determination to step up climate action shows the kind of effort European consumers want to see. By now eleven companies are already participating in the Green Pledge and I am looking forward to even more in the future,” explains Didier Reynders, European Commissioner for Justice.
Commitment to sustainability for investment products
Erste Group commits to ensuring the availability of sustainable investment products and to providing better information to its clients for them to be able to make informed and sustainable choices. Joining the pledge emphasizes the banking group’s ambitions to continue its efforts towards a more sustainable society and economy and marks another important step on its sustainability path. Erste’s commitments will be implemented through Erste Asset Management (EAM). Reporting on the progress of Erste Group’s commitments will be carried out at least on an annual basis on the group’s website and in its sustainability report.
“Sustainability and growth are not contradictory: sustainability can become a key driver of growth,” emphasizes Willibald Cernko, CEO of Erste Group.
Sustainable investments: Widen product portfolio and increase transparency
With 20 years of experience in sustainable investments, Erste Group commits to offering all its customers across seven markets in CEE the opportunity to invest in ESG products supported by transparent and accessible information. Erste Asset Management therefore plans to increase the number of Erste-labelled funds awarded with the Austrian Ecolabel by over 50% to 17 by the end of 2023. Currently, a volume worth EUR 3.4 bn is managed in this area, representing almost 5% of EAM’s total assets under management.
Regular information about ESG
At the same time, customers will be informed more frequently about the latest ESG topics and activities, for example by publishing 100 articles on this topic on our finance blog until the end of 2023. By the end of this 2021, we as EAM further pledge to provide SDG-reporting for all Erste-labelled mutual funds, as well as impact reporting for all Erste-labelled impact funds managed by us, and make the report available on our webpage (www.erste-am.com) . Given this commitment to act sustainably in our role as an investor, Erste Asset Management will also exercise voting rights according to its Sustainable Voting Policy and publish our voting decisions on our website on a regular basis.
PROGRESS REPORT AS OF 21.08.2023
Read about the progress on the Green Consumption Pledge here:
| About the Green Consumption Pledge As part of the European Climate Pact, the Green Consumption Pledge represents one of several initiatives undertaken by the European Commission to encourage consumers in making more sustainable choices. The EU-wide initiative invites people, communities, and organizations to take on climate action by pledging to accelerate their contribution to a green transition to build a greener Europe. With the first five companies already participating in the pilot project launched in January 2021, additional renowned enterprises across several different industries are joining this initiative and committing to at least three out of five core pledges aimed at improving the companies’ environmental impact and helping consumers in making more sustainable choices. |
Disclaimer
This document is an advertisement. Please refer to the prospectus of the UCITS or to the Information for Investors pursuant to Art 21 AIFMG of the alternative investment fund and the Key Information Document before making any final investment decisions. All data is sourced from Erste Asset Management GmbH, unless indicated otherwise. Our languages of communication are German and English.
The prospectus for UCITS (including any amendments) is published in accordance with the provisions of the InvFG 2011 in the currently amended version. Information for Investors pursuant to Art 21 AIFMG is prepared for the alternative investment funds (AIF) administered by Erste Asset Management GmbH pursuant to the provisions of the AIFMG in connection with the InvFG 2011.
The fund prospectus, Information for Investors pursuant to Art 21 AIFMG, and the Key Information Document can be viewed in their latest versions at the web site www.erste-am.com within the section mandatory publications or obtained in their latest versions free of charge from the domicile of the management company and the domicile of the custodian bank. The exact date of the most recent publication of the fund prospectus, the languages in which the Key Information Document is available, and any additional locations where the documents can be obtained can be viewed on the web site www.erste-am.com. A summary of investor rights is available in German and English on the website www.erste-am.com/investor-rights as well as at the domicile of the management company.
The management company can decide to revoke the arrangements it has made for the distribution of unit certificates abroad, taking into account the regulatory requirements.
Detailed information on the risks potentially associated with the investment can be found in the fund prospectus or Information for investors pursuant to Art 21 AIFMG of the respective fund. If the fund currency is a currency other than the investor's home currency, changes in the corresponding exchange rate may have a positive or negative impact on the value of his investment and the amount of the costs incurred in the fund - converted into his home currency.
Our analyses and conclusions are general in nature and do not take into account the individual needs of our investors in terms of earnings, taxation, and risk appetite. Past performance is not a reliable indicator of the future performance of a fund.
The issue and redemption of unit certificates and the execution of payments to unit holders has been transferred to the Fund's custodian bank/depositary, Erste Group Bank AG, Am Belvedere 1, 1100 Vienna, Austria. Redemption requests can be submitted by investors to their custodian bank, which will forward them to the Custodian Bank/Depositary of the Fund for execution via the usual banking channels. All payments to investors are also processed via the usual banking clearing channel with the investor's custodian bank. In Germany, the issue and return prices of shares are published in electronic form on the web site www.erste-am.com (and also at www.fundinfo.com). Any other information for Shareholders is published in the Bundesanzeiger, Cologne.