Germany’s industry association for financial analysis and asset management, the DVFA, has launched a tool to help investors create in-house sustainability scoring policies.
It was developed by the DVFA’s sustainable finance commission, comprising members from firms including State Street Global Advisors, Allianz Global Investors and Union Investment.
Dirk Soehnholz, a Commission member from model-portfolio provider Diversifikator, told RI in a personal capacity that the development of the tool had been driven by an increasing number of investors asking questions on how they could develop a sustainable investment policy.
“Many thought that they would wait for the EU sustainable finance taxonomy to come into place. But it was pretty clear from the start that the taxonomy would take a long time and would not be as comprehensive or as broad as we think at the Sustainable Finance Commission.”
The Policy for Responsible Investment Scoring, known as PRISC, has eight categories that investors can customise.
Soehnholz, who has a blog on how to use the tool, says: “The idea is that we didn’t want to have a standard tool because we know that every investor has many different opinions about what they think is sustainable.
“I don’t think voting and engagement is very important, but others do. So the weight of the criteria can vary – you can add additional criteria or delete criteria out of the tool. You can use it to create a new product or assess an existing product. And you only need a very few questions at a very high level to have an idea of how sustainable the product is compared to your own individual policy.”
PRISC is currently only available in German, but could be translated into English if there is interest.
Members of the DVFA sustainable finance commission who helped develop the tool are:
Dr. Julia Backmann, Allianz Global Investors
Andreas Feiner, Arabesque Asset Management
Dr. Gunnar Friede, DWS Investment
Carlo Funk, State Street Global Advisors
Sonja Kimmeskamp, HSBC Global Asset Management
Christoph Klein, ESG Portfolio Management
Imke Mahlmann, imug Beratungsgesellschaft für sozial-ökologische Innovationen
Marianne Ullrich, Deka Investment
Dr. Henrik Pontzen, Union Investment Institutional
Dr. Rupini Deepa Rajagopalan, Berenberg Bank
Michael Schmidt, Lloyd Fonds
Prof. Dr. Dirk Söhnholz, Diversifikator
Claudia Volk, Sustainalytics
Berenike Wiener, Evangelische Bank