German reinsurance company Munich Re has been awarded the best possible rating of ‘A+’ in the 2019 Principles for Responsible Investment (PRI) assessment, due to its renewable energy investments.
The company scored high in the module ‘Strategy and Governance’.
Only 29% of the 384 asset owners participating in the PRI assessment worldwide gained the ‘A+’ rating.
Munich Re, together with its insurance arm ERGO and MEAG, the global asset management company of Munich Re and ERGO, is among the first German signatories of the United Nations-supported PRI assessment programme, and also played a role in the drafting of these principles.
MEAG is active in Europe, Asia and North America and also works with institutional investors and private clients from outside the company group.
The company currently manages assets to the value of around €268bn.
MEAG chief executive Philipp Waldstein said: “We are happy about this outstanding result, which reinforces us in our conviction to invest responsibly.
“For us that means firstly consistently integrating ESG factors into the investment processes of all asset classes, secondly enabling specific investments in climate-friendly projects such as renewable energy and carbon dioxide-reducing projects, and, thirdly, ruling out entire sectors that are not reconcilable with sustainable investment.”
For the PRI assessment Munich Re and MEAG also answered questions about the bonds asset class, and achieved an ‘A’ in the module. All of Munich Re’s ratings scored above the median in the individual modules.