Erste Asset Management (EAM) has excluded companies that derive more than 30% of sales from coal mining from its mutual funds. In doing so, EAM is one of the first asset managers to have taken this step. “This was the next logical step for us, having excluded coal mining from our sustainable funds at the beginning of the year,” as Heinz Bednar, CEO of Erste Asset Management, explains.
In many people’s opinion, green gene technology is the only option to solve the problem of food security. The seeds market is dominated by a handful of companies and this development has been exacerbated by the increase in patents on seeds and grains. This raises the question of whether the basic idea of patents, which are supposed to promote innovation and inventions, make sense in connection with food.
The global, sustainable corporate bond fund ERSTE RESPONSIBLE BOND EMERGING CORPORATE has clearly passed the threshold of EUR 100mn of assets under management. A perfect occasion to take stock. Christian Schön, member of the board of directors of Erste Asset Management, explains what role sustainable investments play in emerging markets, especially in the corporate bond segment.
Every European consumes an average of 5.2kg of chocolate per year. While demand keeps rising, climate change and social problems in connection with the main ingredient, cacao, represent a clear challenge. Erste Asset Management is part of the initiative “CocoaAction”, a worldwide group of investors who are committed to the sustainable production and improved working conditions and standard of living of cacao farmers and their families. In this interview, Stefan Rößler, ESG investment analyst with Erste Asset Management, tells us what this initiative is all about and how it fights deficiencies and grievances in cacao production.
„For a long time, coal and oil were pretty much my life” says Gerold Permoser, Chief investment Officer (CIO) and Chief Sustainable Officer (CSIO) of Erste Asset Management.
James Watt not only gave the physical unit for power its name, he also heralded the age of coal and hydrocarbon in the middle of the 18th century by improving and spreading the use of the steam engine. Today, almost 250 years later, we can see a change, even a reversal. Coal divestments, i.e. the outflow of capital from coal investments, have turned into a movement. A prominent example is the Rockefeller Foundation, which announced that it was going to withdraw completely from coal. And the intentions of the power plant operators E.ON and RWE, which want to get rid of its carbon legacy, also show that coal is currently on the way out. Stefan Rößler, ESG analyst with Erste Asset Management, explains why in the long run a withdrawal from coal is unavoidable.
The global population will reach 10 billion people by 2100, with masses streaming into the cities. The environmental problems are becoming more challenging as we speak due to the exploitation of raw materials and the climate change, which has manifested itself via ever more frequent freak weather events. The call for the cautious handling of resources has become more insistent.
The times when chocolate was a luxury good are long gone. Consumption has increased continuously and amounts to about 5.2kg per person and year in Europe. While demand has been on the rise, climate change and social problems in production constitute challenges that cause an imbalance of supply and demand. For the cacao farmers, the chocolate dream can easily turn into a nightmare. We talked to Stefan Rößler, quantitative analyst in the ESG team of Erste Asset Management, about how this situation could be changed.
Our latest issue of our sustainability magazine (ESG-Letter) deals with chocolate.
Austrians love chocolate, no matter what aggregate state. Solid, as melting bar, liquid, as hot chocolate, or gaseous, as perfume or aphrodisiac. We have a sweet tooth and love our chocolate. But what does this have to do with sustainability? A lot, as we believe.
The Paris climate conference has yet again confronted the public with the importance of a sustainable and environmentally friendly economy for the future of our planet. The goal of imposing a cap on global warming of below two degrees centigrade requires a Herculean effort. Paul Severin interviews Clemens Klein, senior fund manager about the results of the conference.