SFDR

Disclosure in accordance with Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector.

Credit Suisse Life & Pensions AG (CSLP) (LEI n. 529900RUSOZI16ZVXH02) is a Liechtenstein domiciled life insurance company, with an Italian branch (LEI n. 894500OQQJ83Y2EKR322), which offers unit-linked insurance policies to its clients.

CSLP has delegated the asset-management function to external asset managers, which follow the investment strategy chosen by the policy holder. Therefore, CSLP is not directly involved in the investment decisions taken by the external asset manager.

In relation to Article 3 (Transparency of sustainability risk policies) of Regulation (EU) 2019/2088, CSLP delegates the investment decisions to the external asset managers (e.g., Credit Suisse), that consider sustainability risks in their sustainable investment strategies.

Sustainability risks mean an environmental, social or governance (ESG) event or condition that, if it occurs, could have a material negative impact on the value of the investment. The materiality of Sustainability Risks is determined by the likelihood, magnitude and time-horizon of the risk materializing. At Credit Suisse the integration of material ESG factors in financial analysis and investment decision making is pivotal and it can reduce risks and lead to improved investment outcomes over time. Sustainability-related issues are an integral part of risk review processes, which continuously capture these risks and integrate sustainability factors in their investment research, analysis, investment process and risk management. Credit Suisse aims to actively integrate sustainability-related insights into their due diligence, research processes and investment decisions, combining them with financial analysis and portfolio construction. Credit Suisse uses a range of external ESG research providers and rating agencies in combination with in-house sustainability and analysis to formulate ESG-integrated investment decisions that meet financial as well as sustainability-related objectives set by the investor/client. Please refer to Credit Suisse website for more information. (link to be added)

Regarding the external asset managers other than Credit Suisse, please refer to their own website for more information.

In relation to Article 4 (Transparency of adverse sustainability impacts at entity level) of Regulation (EU) 2019/2088, there remains uncertainty around principal adverse sustainability indicators which are still subject to ongoing discussions, coupled with limited availability of relevant ESG-related data. CSLP in its role as financial market participant does not exceed the criterion under the Regulation (EU) 2019/2088 of the average number of 500 employees during the financial year. As a consequence, CSLP does not consider principal adverse sustainability impacts, as defined in Regulation (EU) 2019/2088. However, CSLP follows the regulatory developments closely and aims towards developing its sustainability practice further.

In relation to Article 5 (Transparency of remuneration policies in relation to the integration of sustainability risks) of Regulation (EU) 2019/2088, CSLP has delegated the investment decisions to the external asset managers (e.g., Credit Suisse), who are  responsible for the determination and allocation of discretionary variable incentive awards to employees out of a defined variable compensation pool. At Credit Suisse the remuneration policy and approach is geared at rewarding positive behaviors and managing risk-taking behaviors, encouraging focus on long-term goals beyond pure financial performances. Credit Suisse looks to balance this across its business strategy, including in respect of sustainability opportunities and risks. Credit Suisse's remuneration policy allows for appropriate adjustments to be made according to risks identified, bearing in mind both financial and non-financial criteria. Please refer to Credit Suisse website for more information. (link to be added)

Regarding the external asset managers other than Credit Suisse, please refer to their own website for more information.