Erste Group commits to the European Commission’s Green Consumption Pledge

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.

Bernd Spalt, CEO Erste Group (c) Wolfgang Zac

Bernd Spalt, CEO Erste Group (c) Wolfgang Zac

“We need climate action now. So, joining this pledge is another clear commitment Erste has undertaken to strengthen its ambitions regarding ESG as one of our future strategic pillars. We are eager to join the Commission’s efforts in building a new framework across sectoral boundaries and beyond existing regulatory requirements. We want to be an active part in this green transition, and we believe we can do so with the financing products and services we offer consumers,” emphasizes Bernd Spalt, 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. 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.

Media invitations: virtual event hosted by the European Commission

In the virtual event on June 10th 2021, Erste Group’s CEO Bernd Spalt joined Commissioner Reynders and other signatories to announce these commitments. The detailed pledge documents are available on the website of the European Commission.

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. 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 Amtsblatt zur Wiener Zeitung in accordance with the provisions of the InvFG 2011 in the currently amended version. Information for Investors pursuant to § 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 § 21 AIFMG, and the key investor document/KID 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 investor 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.

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