Last Update: Feb 2023
Sustainable Finance
The Mediolanum Group considers sustainability as an integral part of its culture and one of the fundamental elements of its business model. As part of the Mediolanum Group, MIFL believes that incorporating sustainability into its business will result in long-term added value and contribute to the realisation of our Vision and Values.
Our Vision is in line with the Action Plan defined by the European Commission to strengthen the role of finance in the creation of an efficient economy that also achieves environmental and social objectives.
Sustainability represents a strategic choice for which the companies of the Mediolanum Group share the fundamental guidelines and have developed an approach to responsible investments that combines economic and profitability objectives with ESG (Environmental, Social, Governance) factors in the analysis and in the management of investment solutions.
MIFL investment process
MIFL defines “responsible investment” as the integration of sustainability considerations, including environmental, social and governance (ESG) factors, sustainability risk and active ownership, i.e. seeking to drive change through engagement and proxy voting in investee companies, into the investment decision-making process.
At MIFL, it is central to our investment process to analyse each investment’s ability to create, sustain and protect value to ensure that it can deliver returns. In addition to this, MIFL also adopts a Responsible Investment Policy, the primary focus of which is ESG integration and active ownership: in fact, where appropriate, we also aim to engage and vote with the objective of improving performance in these areas. We believe our responsibility as investors includes protecting the interests of our investments from the impacts of financial and nonfinancial risks.
MIFL is committed to and supports the objectives of all 17 United Nations Sustainable Development Goals (SDGs). In 2020, to help focus our responsible investment ambitions, MIFL decided to prioritise three climate-oriented SDGs (7, 12 and 13) to assess our assets under management, with an aim to seek improvement in the long term. We believe that climate change is a clear and pressing issue which needs to be addressed. Through engagement with managers across our assets under management, we seek to drive improvement across these 3 specific SDGs.
To measure and monitor MIFL’s impact on these three SDGs at an entity level, MIFL has selected five Principal Adverse Impact (PAI) indicators aligned to these SDGs. These are:
- Carbon Emissions
- Carbon Footprint
- GHG Intensity
- Share of non-renewable energy consumption and production
- Hazardous waste ratio (when applicable)
MIFL has also chosen a sixth PAI indicator, Board Gender Diversity, which, although not linked to our three SDGs, is an important area where we aim to deliver change.
Through regular and active monitoring of these six indicators, MIFL will look to engage indirectly through the managers of our mandates or directly through engagement via our Single Securities Teams, to affect improvement over time. We believe that the use of the PAI indicators will bring transparency to our process. This approach is explained in more detail within our Responsible Investment policy.
We also aim to mitigate the negative impacts of our investment decisions on sustainability factors by considering PAIs as part of the investment process. These impacts can occur in different areas, such as environmental, social and employee matters, human rights, corruption and bribery matters.
Further information on MIFL’s approach to the measurement and monitoring of our chosen Principal Adverse Impacts (PAIs) and our due diligence is available in our Responsible Investment Policy and in our Entity Level Disclosure Statement.
MIFL Exclusion Policy
The Mediolanum group has implemented an exclusion policy applicable to all group entities and all group assets. This exclusion policy aligns with new legislation -LEGGE 9 Dicembre 2021 -n. 220- passed by the Italian parliament and which became effective as of 1 January 2023. The aim of the exclusion policy is to prohibit investments in companies involved in the financing, production, use, sale, distribution, import, export or transfer of anti-personnel mines, cluster munitions and submunitions. Implementing this policy represents the group’s ongoing commitment to invest responsibly, to align with evolving regulatory and legislative obligations and to focus on sustainability at all levels across the Mediolanum group.
In accordance with new legislation and group policy, MIFL has implemented an exclusion policy which covers direct investments as well as delegates.
Responsible Investment
MIFLs Green Fund range
Article 9
MBB Global Impact
MBB Circular Economy Opportunities
MBB Energy Transition
MBB Sustainable Nutrition
Article 8
MBB Innovative Thematic Opportunities
MBB Socially Responsible Collection
MBB Multi-Asset ESG Selection
MBB Invesco Balanced Risk Coupon Selection
MBB Carmignac Strategic Selection
