Last Updated: Jan 2024
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, MIL 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.
MIL investment process
Mediolanum International Life DAC (“MIL”) is authorised to issue life insurance products including insurance-based investment products (IBIP) and is responsible for the general management and administration of these products. MIL has appointed Mediolanum International Funds Limited (“MIFL”), a group company, as its delegated investment manager.
MIL has implemented a Responsible Investment Policy, the primary focus of which is ESG integration within the underlying investment process.
MIL is committed to and supports the objectives of all 17 United Nations Sustainable Development Goals (SDGs). Through the appointment of MIFL as its delegated investment manager, four SDGs (5, 7, 12 and 13) are prioritised due to its Responsible Investment approach. The aim of this approach is to seek improvement in the long term, by engaging with managers across all its assets under management, to drive improvement across these 4 SDGs.
To measure and monitor MIFL’s impact on these four SDGs at an entity level, MIFL has selected six Principal Adverse Impact (PAI) indicators aligned to these SDGs. These are:
- Board Gender Diversity
- Carbon Emissions
- Carbon Footprint
- GHG Intensity
- Share of non-renewable energy consumption and production
- Hazardous waste ratio (when applicable)
This approach is explained in more detail within MIL’s Responsible Investment Policy that is aligned with that of its Investment Manager. MIL Responsible Investment Policy
MIL believes that the negative impacts of decisions made on sustainability factors may be mitigated when PAIs are considered as part of the underlying 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 MIL’s approach to the measurement and monitoring of its chosen Principal Adverse Impacts (PAIs) is available in our Policy for Products and Responsible Investment (Responsible Investment Policy) and Entity Level disclosure document located at www.mildac.ie/sustainability.
MIL Controversial Weapons Policy
MIL has implemented a Controversial Weapons policy which covers investment activities on portfolios and assets managed by MIL’s delegated Investment Manager Mediolanum International Funds Limited. The aim of the Policy is to prohibit its underlying 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 MIL’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.
Important Disclosures
MIL meets the definition of a Financial Market Participant (“FMP”) under the Sustainable Finance Disclosure Regulation (the “SFDR”). Under the SFDR, MIL is required to publish a number of disclosures on its website. The attached statement has been prepared to address the SFDR requirements.
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