We have an ESG governance instance to ensure the company-wide coordination, implementation and communication of our ESG Strategy. The MEAG ESG Committee decides on strategic ESG matters, while the MEAG ESG Management Team is responsible for the MEAG-wide implementation of ESG. A separate ESG & Sustainable Finance unit, which reports directly to the Chief Administration Officer, is responsible for the further development of the ESG Strategy and for strategic issues relating to sustainability. This unit also helps MEAG's various business divisions to implement our ESG Strategy and, in collaboration with the Legal, Regulatory & Compliance (LRC) department, ensures compliance with the relevant sustainability regulations and requirements. In addition, the engagement and proxy voting activities within ESG & Sustainable Finance are bundled in the MEAG Centre of Competence for Stewardship.
MEAG's ESG & Sustainable Finance department is supported by ESG multipliers from the operational units within MEAG. Employees who act as ESG multipliers actively pass on their knowledge of ESG integration at MEAG within their own department and continuously build up asset-class-specific ESG expertise.
