Principal Adverse Impacts

Reasons for non-consideration

Regulation (EU) 2019/2088 on sustainability disclosures in the financial services sector (SFDR) defines "major adverse impacts" as "the significant negative impact on the environment or society that could occur as a result of investing in a particular economic activity".

Nuestro enfoque de inversión responsable implica entender cómo las empresas y activos que analizamos se relacionan con la sociedad y con su entorno en el desarrollo de su actividad, mediante la incorporación de factores y aspectos ESG a nuestros procesos de análisis e inversión.

Our approach to responsible investment involves understanding how the companies and assets we analyse relate to society and their environment in the course of their business, by incorporating ESG factors and aspects into our analysis and investment processes.

Accordingly, and consistent with our commitment to the objectives of transparency and rigour in market reporting under SFDR Regulation (EU) 2019/2088, we have chosen not to report the main negative impacts on sustainability factors at this time.

Going forward, we will closely follow the recommendations of regulators, as well as the improvement of available information, in order to continue working to improve our analysis and assessment processes, in line with Regulation (EU) 2019/2088 on sustainability disclosures in the financial services sector.