Exclusion

The general principle inspiring exclusions performed by or on behalf of the Pension Fund Swiss Re is the Group-wide Swiss Re ESG Risk Framework. Swiss Re’s ESG Risk Framework guides how the Group manages sustainability risks and is applied in conjunction with other Group-wide frameworks. Swiss Re embeds sustainability across its business activities, considering ESG factors in its underwriting, investments and operations, while ensuring that sustainability is appropriately reflected in roles and responsibilities.. The ESG Risk Framework based exclusion lists for companies and countries are reviewed and shared with the Pension Fund at regular intervals.

To support the ongoing transition to a net-zero emissions economy and to mitigate the associated risk of stranded assets (assets that are at risk of a climate-related decline in value), the Pension Fund Swiss Re applies comprehensive exclusion criteria for coal and oil sands related investments.

In addition to the exclusion lists of the Swiss Re Group, the Pension Fund Swiss Re also applies the exclusion list of the Swiss Association for Responsible Investments (SVVK-ASIR), which at this stage primarily focus on manufacturers of prohibited war material. In this regard, the Pension Fund Swiss Re is supplementing the Swiss Re ESG Risk Framework with additional exclusion criteria in light of best practices observed by Swiss pension funds.