Erste Asset Management

Erste Group publishes first Climate Report

Erste Group publishes first Climate Report
Erste Group publishes first Climate Report
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As one of the leading banking institutions in Central and Eastern Europe, we are committed to mobilising finance for a lower-carbon, more just, and more inclusive society. In our Climate Report, we report on our progress, targets, and actions towards a net-zero emissions portfolio by 2050 and net-zero operations by 2030. We have also started to align our approach with the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD) and provide an overview of climate adaptation, mitigation, and risk management.

Erste Group’s climate strategy is based on four pillars: sustainable asset management, transition to a net-zero operation, transition to a net-zero portfolio, and the integration of climate risks into the bank’s risk management.

The four pillars of our climate strategy aim to seize green growth opportunities and mitigate climate risks specific to our region. In parallel to the European Green Deal of the European Union, CEE countries are also working towards a fair and rapid net-zero transition. A series of measures are designed to steer the EU towards net zero emissions by 2050. The goal is to promote a just and prosperous society as well as a modern and competitive economy. As part of this transition, financial flows need to be aligned with a low-emission and climate-resilient future. Erste Group is well positioned to meet the challenges and seize the opportunities that emerge in these changing times.

Our climate strategy supports our region’s ability to mitigate and adapt to climate change and its main risks as identified by the Intergovernmental Panel on Climate Change (IPCC).

These risks include:

Heat: heat-related environmental changes and health problems disproportionately affect low-income and vulnerable populations. This is particularly felt in the south and major cities of the region.

Agriculture: drought, excessive rain, pests, and heat affect the productivity of crops, livestock, and forests. Crop yields will be more affected in our southern markets.

Water scarcity: a change in weather patterns is reducing the availability of clean drinking water and sanitation across the region. Water-dependent sectors such as energy, paper, and agriculture are particularly affected.

Flooding: our region will face the impacts of increased river flooding and flash floods. With a warming of more than 3°C, the damage could double. Extreme flood events will have a particularly intense impact in urban areas.

ESG risks are embedded in Erste Group’s Risk Management Framework. They are considered in our Risk Materiality Assessment, our Risk Appetite Statement, our risk strategy as well as in our industry strategies. Erste Group considers climate risks and environmental risks in a broader sense as transversal, i.e. they impact and are reflected in all existing risk types such as credit, market, liquidity risks, etc.

For more information about the sustainability approach of Erste Group, and in particular, about climate risks, please read our Climate Report 2023.

Read more articles from the ESGenius Letter on the topic of “Climate Risks” here!

For a glossary of technical terms, please visit this link: Fund Glossary | Erste Asset Management

Legal note:

Prognoses are no reliable indicator for future performance.



Legal disclaimer

This document is an advertisement. Unless indicated otherwise, source: Erste Asset Management GmbH. The language of communication of the sales offices is German and the languages of communication of the Management Company also include English.

The prospectus for UCITS funds (including any amendments) is prepared and published in accordance with the provisions of the InvFG 2011 as amended. Information for Investors pursuant to § 21 AIFMG is prepared for the alternative investment funds (AIF) administered by Erste Asset Management GmbH pursuant to the provisions of the AIFMG in conjunction with the InvFG 2011.

The currently valid versions of the prospectus, the Information for Investors pursuant to § 21 AIFMG, and the key information document can be found on the website under “Mandatory publications” and can be obtained free of charge by interested investors at the offices of the Management Company and at the offices of the depositary bank. The exact date of the most recent publication of the prospectus, the languages in which the key information document is available, and any other locations where the documents can be obtained are indicated on the website A summary of the investor rights is available in German and English on the website and can also be obtained from the Management Company.

The Management Company can decide to suspend the provisions it has taken for the sale of unit certificates in other countries in accordance with the regulatory requirements.

Note: You are about to purchase a product that may be difficult to understand. We recommend that you read the indicated fund documents before making an investment decision. In addition to the locations listed above, you can obtain these documents free of charge at the offices of the referring Sparkassen bank and the offices of Erste Bank der oesterreichischen Sparkassen AG. You can also access these documents electronically at

N.B.: The performance scenarios listed in the key information document are based on a calculation method that is specified in an EU regulation. The future market development cannot be accurately predicted. The depicted performance scenarios merely present potential earnings, but are based on the earnings in the recent past. The actual earnings may be lower than indicated. Our analyses and conclusions are general in nature and do not take into account the individual characteristics of our investors in terms of earnings, taxation, experience and knowledge, investment objective, financial position, capacity for loss, and risk tolerance.

Please note: Past performance is not a reliable indicator of the future performance of a fund. Investments in securities entail risks in addition to the opportunities presented here. The value of units and their earnings can rise and fall. Changes in exchange rates can also have a positive or negative effect on the value of an investment. For this reason, you may receive less than your originally invested amount when you redeem your units. Persons who are interested in purchasing units in investment funds are advised to read the current fund prospectus(es) and the Information for Investors pursuant to § 21 AIFMG, especially the risk notices they contain, before making an investment decision. If the fund currency is different than the investor’s home currency, changes in the relevant exchange rate can positively or negatively influence the value of the investment and the amount of the costs associated with the fund in the home currency.

We are not permitted to directly or indirectly offer, sell, transfer, or deliver this financial product to natural or legal persons whose place of residence or domicile is located in a country where this is legally prohibited. In this case, we may not provide any product information, either.

Please consult the corresponding information in the fund prospectus and the Information for Investors pursuant to § 21 AIFMG for restrictions on the sale of the fund to American or Russian citizens.

It is expressly noted that this communication does not provide any investment recommendations, but only expresses our current market assessment. Thus, this communication is not a substitute for investment advice, does not take into account the legal regulations aimed at promoting the independence of financial analyses, and is not subject to a prohibition on trading following the distribution of financial analyses.

This document does not represent a sales activity of the Management Company and therefore may not be construed as an offer for the purchase or sale of financial or investment instruments.

Erste Asset Management GmbH is affiliated with the referring Sparkassen banks and Erste Bank.

Please also read the “Information about us and our securities services” published by your bank.

Subject to misprints and errors.

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