We are convinced that our business model can only be successfully implemented in the future through long-term and responsible action. It is therefore important for MEAG that human rights are considered in all areas of the company. With our MEAG KAG Human Rights Declaration, we would like to express the importance of human rights and their high priority for us.
The MEAG KAG Human Rights Declaration is publicly available and can be found here.
Human rights are a cornerstone of a just and united society. We advocate the protection and furtherance of human rights, and pledge to uphold them in all aspects of its business.
We underscore our commitment to human rights by recognising the following international guidelines and standards:
In its business activities, MEAG is subject to the Munich Re Group's Code of Conduct, which applies across the Group.
We have defined the following human rights as being material for us based on our business and operating model. We strongly advocate these rights and expect our staff and business partners to uphold them.
In accordance with this Declaration, MEAG places great importance on providing working conditions that prioritise the health, equal opportunities and educational opportunities of our employees.
Equal opportunity & Inclusion: MEAG stands for a diverse and inclusive environment in which every individual is valued, respected and empowered regardless of their gender, age, disability, cultural background, family caregiving role, sexual orientation, sexual identity or religion.
Health: The health of our employees is a key priority for us. It is a main goal of ours to always ensure their sustained wellbeing and performance through preventative healthcare measures.
Vocational training and development: MEAG supports its employees with individualised development plans and numerous educational options, coaching, mentoring and a diverse set of self-study tools. MEAG also offers a variety of working-hour models to provide flexibility and promote work-life balance.
Code of Conduct: The Munich Re Group's Code of Conduct defines the expectations regarding respect for human rights by employees and serves as an ethical guide in difficult situations or conflicts.
MEAG takes human rights into account in its investment decisions, as we want to ensure that companies respect the rights of their employees, stakeholders and civil society.
MEAG KAG Exclusion Policy: As a basic precaution to protect these rights, MEAG does not invest in manufacturers of banned weapons, or in bonds of countries with a "CCC" rating from the data provider MSCI ESG Research LLC.
Public Markets: IT systems alert Public Markets portfolio managers to issuers associated with violations of the UN Global Compact and/or the OECD Guidelines for Multinational Enterprises. Investments in the securities of such issuers are either to be avoided entirely or the portfolio manager must justify them.
Alternative Assets: Human rights aspects are taken into account right from the start of the investment process when investing in infrastructure, property and natural capital. An ESG evaluation template helps to assess potential risks and identify negative impacts.
Stewardship: MEAG actively exerts influence on portfolio companies with regard to ESG-related risks and impacts. Sustainable business practices are promoted through proxy voting and engagement. Since August 2023, MEAG has been supporting the PRI Stewardship Initiative Advance to promote human rights and social issues.
You can find more details on our ESG investment concept here.
We want to prevent or mitigate possible adverse impacts of our purchasing activities on the observance of human rights to the best of our ability.
To ensure we meet our due diligence obligations in our supply chain, MEAG has established processes to identify risks of human rights infringements and manage them with suitable countermeasures.
Our specifications for meeting corporate due diligence obligations are set out in various company guidelines and Work instructions. The processes encompass the following components: