To ensure company-wide alignment with and implementation of the ESG Strategy, MEAG has set up an ESG Governance structure. MEAG's ESG governance is aligned with and embedded in Munich Re's ESG governance. The Group Investment Management ESG Investment Committee is a committee with MEAG representation that decides on strategic ESG issues related to proprietary investments of Munich Re, thereby, serving as a forum that facilitates alignment between MEAG and Munich Re.
Overall responsibility for the MEAG ESG Strategy lies with MEAG's Board of Management. The MEAG ESG Committee, a joint Committee of MEAG and MEAG AMG, (voting members: Chief Administration Officer/ Chief Operating Officer, CIO Public Markets, CIO Alternative Assets, Chief Customer Officer, Head of ESG & Sustainable Finance; non-voting members: Head of SAA Group, President of MEAG New York) decides on strategic ESG matters, while the MEAG ESG Management Team is responsible for the MEAG-wide ESG implementation.
A dedicated ESG & Sustainable Finance Department with a direct reporting line to the Chief Administration Officer/ Chief Operating Officer is responsible for the further development of the ESG Strategy and for key concepts relating to sustainability. ESG & Sustainable Finance develops ESG guidelines as well as implementation measures and empowers ESG product development and communication. In addition, engagement and proxy voting activities are bundled in the MEAG “Center of Competence for Stewardship” within ESG & Sustainable Finance.Within the Legal, Regulatory & Compliance department, there are dedicated ESG specialists who, in collaboration with the ESG & Sustainable Finance department, ensure compliance with the relevant sustainability regulatory requirements and supervisory guidelines. An ESG Reporting unit is centrally responsible for the availability of ESG data, analysis and quality control of the data, as well as ESG reporting. The “Alternative ESG Integration” unit is responsible for implementing the segment-specific ESG requirements within alternative assets.
Note: This chart does not display the complete ESG Governance of Munich Re, but only the departments most relevant for MEAG.