Our investment guidelines, established by the Investment Committee of the Board, set the boundaries within which the Group’s external investment managers must operate.
We track and monitor the emission intensity of our investment portfolio every quarter.
Our investment strategy guidelines incorporate ESG and climate-related targets and appetites as part of the overall strategy and guidelines, which align with our commitment to responsible investment.
Data on the carbon intensity, climate risk sensitivity and ESG profile of the Group’s investments is reported periodically to the Board’s Investment Committee.
The Group's external investment managers must operate within the parameters set in our guidelines on permissible asset classes, duration ranges, credit quality, currency, maturity, sectors, geographical, sovereign and issuer exposures. Compliance is monitored monthly, and any adjustments are approved by the Board and the Investment Committee.
As of 31 December 2025, 96.7% of the external investment portfolio was managed by UNPRI signatories.