{"id":2709,"date":"2023-06-30T09:18:32","date_gmt":"2023-06-30T07:18:32","guid":{"rendered":"https:\/\/yarpa.it\/principles-for-responsible-investment\/"},"modified":"2025-06-20T10:56:23","modified_gmt":"2025-06-20T08:56:23","slug":"principles-for-responsible-investment","status":"publish","type":"page","link":"https:\/\/yarpa.it\/en\/principles-for-responsible-investment\/","title":{"rendered":"ESG Policy and SFDR Disclosures"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2709\" class=\"elementor elementor-2709 elementor-2168\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-eabcaa3 e-con-full e-flex e-con e-parent\" data-id=\"eabcaa3\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-9c1831c e-con-full e-flex elementor-invisible e-con e-child\" data-id=\"9c1831c\" data-element_type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeInDown&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9ab4cfd elementor-widget elementor-widget-heading\" data-id=\"9ab4cfd\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.22.0 - 26-06-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Principles for<br>Responsible Investment<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-86cda33 e-flex e-con-boxed e-con e-parent\" data-id=\"86cda33\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-a4f8c4a e-con-full e-flex e-con e-child\" data-id=\"a4f8c4a\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-68f0ae9 elementor-widget elementor-widget-text-editor\" data-id=\"68f0ae9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.22.0 - 26-06-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>In February 2021, the Board of Directors of Yarpa Investimenti SGR S.p.A. approved its Responsible Investment Policy (<strong>ESG Policy<\/strong>).<\/p>\n<p>This decision aims to <strong>incorporate criteria for measuring, managing, and mitigating environmental, social, and governance (ESG) risks<\/strong> into the process of identifying and managing financial investments. The objective is to ensure that these factors are genuinely taken into consideration in the investment strategies adopted by all our managed funds. We are convinced that this choice can contribute to generating sustainable and long-term performance.<\/p>\n<p><strong>&nbsp;<\/strong><\/p>\n<p><strong>Exclusion Criteria<\/strong><\/p>\n<p><strong>Specific exclusion criteria have been identified<\/strong> for investment selection to define the sustainability risk of investments. The SGR distinguishes between (i) direct and\/or co-investment scenarios and (ii) indirect investment scenarios (through participation in other funds). The Exclusion list from the investable universe refers to the following sectors: controversial weapons, gambling, and coal extraction facilities.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-814fc15 elementor-widget elementor-widget-text-editor\" data-id=\"814fc15\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>ESG: An Opportunity for Private Equity<\/strong><\/p><p>In this context, we believe that the integration of ESG criteria into the evaluation of Private Equity investments, and more broadly, private capital, represents an <strong>opportunity<\/strong>. By dealing with unlisted companies, which tend to have limited sustainability reporting, the <strong>integration of ESG elements by PE<\/strong> increases the likelihood <strong>of identifying non-financial risks that were previously not monitored.<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3d390c4 elementor-widget elementor-widget-text-editor\" data-id=\"3d390c4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Responsible Investments<\/strong><\/p><p>Our <strong>ESG Policy<\/strong> refers to the main international standards and industry guidelines. It reflects, as much as possible, the <strong>best practices widely adopted internationally by asset managers<\/strong>. This includes a thorough analysis of policies, operational models, and reporting introduced by major European managers with whom the SGR has been investing and interacting for many years.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a2aae2d elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"a2aae2d\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"http:\/\/yarpa.it\/wp-content\/uploads\/2025\/05\/2025-05-25_Policy-ESG.pdf\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Politica per gli investimenti responsabili \u2013 ESG<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-88e9908 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"88e9908\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"http:\/\/yarpa.it\/wp-content\/uploads\/pdf\/Informativa_Rischi_di_Sostenibilita_(ex_art_3_SFDR)_ed_Effetti_negativi_(ex_art_4_SFDR).pdf\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Informativa sui rischi di sostenibilit\u00e0 (ex art. 3 SFDR) ed effetti negativi (ex art. 4 SFDR)<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6454149 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"6454149\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"http:\/\/yarpa.it\/wp-content\/uploads\/pdf\/Informativa_trasparenza_delle_politiche_di_remunerazione_(ex_art_5_SFDR).pdf\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Informativa sulla trasparenza delle politiche di remunerazione (ex art.5 SFDR)<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-59536d6 elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"59536d6\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"http:\/\/yarpa.it\/wp-content\/uploads\/pdf\/Informativa_sulla_trasparenza_della_promozione_delle_caratteristiche_ambientali_e_sociali_(ex_art_10_SFDR).pdf\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Informativa sulla trasparenza della promozione delle caratteristiche ambientali e sociali (ex art. 10 SFDR) \u2013 Theta Fondo VIII<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-97c3a5c elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"97c3a5c\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"http:\/\/yarpa.it\/wp-content\/uploads\/pdf\/Iota_Fondo_IX_-_Informativa_sulla_trasparenza_della_promozione_delle_caratteristiche_ambientali_e_sociali_ex_art_10_SFDR.pdf\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Information on the transparency of the promotion of environmental and social characteristics (ex art. 10 SFDR) \u2013 Iota Fondo IX<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-61583eb elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-phone elementor-widget elementor-widget-image\" data-id=\"61583eb\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.22.0 - 26-06-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1292\" height=\"328\" src=\"https:\/\/yarpa.it\/wp-content\/uploads\/2021\/02\/PRI.png\" class=\"attachment-full size-full wp-image-2175\" alt=\"\" srcset=\"https:\/\/yarpa.it\/wp-content\/uploads\/2021\/02\/PRI.png 1292w, https:\/\/yarpa.it\/wp-content\/uploads\/2021\/02\/PRI-300x76.png 300w, https:\/\/yarpa.it\/wp-content\/uploads\/2021\/02\/PRI-1024x260.png 1024w, https:\/\/yarpa.it\/wp-content\/uploads\/2021\/02\/PRI-768x195.png 768w\" sizes=\"(max-width: 1292px) 100vw, 1292px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Principles forResponsible Investment In February 2021, the Board of Directors of Yarpa Investimenti SGR S.p.A. approved its Responsible Investment Policy (ESG Policy). This decision aims to incorporate criteria for measuring, managing, and mitigating environmental, social, and governance (ESG) risks into the process of identifying and managing financial investments. 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