Etica Funds has developed a proprietary method for\ncalculating the impact of the Social Bonds issued by the European Commission.<\/p>\n\n\n\n
The fundamental points are the following:<\/p>\n\n\n\n
The method follows what was done for the green bonds;\nhowever, the focus is only on the Social Bonds in the Impatto Clima and Linea\nValori Responsabili funds, not including the SICAV portfolio. These unique\nSocial Bonds were issued by the European Commission in 2020 and 2021 to finance\nthe SURE programme.<\/p>\n\n\n\n
The data are collected from the reports on the\nprogramme, the sole purpose of the issue of Social Bonds by the Commission.<\/p>\n\n\n\n
The amounts invested in the Etica Funds Impatto Clima\nand Linea Valori Responsabili fund portfolios are calculated starting from the\nweight of each exposure on the NAV of the various portfolios, multiplied by the\nsum of the tel quel<\/em> value of all the positions in the related portfolio.<\/p>\n\n\n\n The geographical allocation data are collected for\neach issue in the portfolio, available in the Commission\u2019s official documents\nbut approximated to the billion euros invested. It was not possible to collect\nmore detailed information in this regard.<\/p>\n\n\n\n Unlike what was done with green bonds, for EU Social\nBonds, the amounts invested are categorised not by activity or sector (e.g.\ngreen buildings) but by eligible expenditures.<\/p>\n\n\n\n The methodology for allocating the income from EU\nSocial Bonds is structured as follows:<\/p>\n\n\n\n The calculations for the impact metrics are based on\nthe information contained in the final report for the entire SURE programme,\npublished by the European Commission. Three main impact metrics contained in\nthis report are used.<\/p>\n\n\n\n As impact data related to the individual issues in the\nportfolio are not available, the contribution of the bonds in the portfolio to\nthe entire SURE programme is calculated with this procedure:<\/p>\n\n\n\n the total number of employees covered by the SURE\nfunds in 2020-2021 is taken and divided by the total issued in the form of\nSocial Bonds and invested to finance the SURE programme;<\/p>\n\n\n\n the figure obtained (employees covered per \u20ac invested)\nis multiplied by the amount invested by Etica Funds for each position in the\nportfolio;<\/p>\n\n\n\n the contributions calculated are added together to\nobtain the figure for employees covered by Etica\u2019s investment in 2020-2021.<\/p>\n\n\n\n the total number of self-employed workers covered by\nthe SURE funds in 2020-2021 is taken and divided by the total issued in the\nform of Social Bonds and invested to finance the SURE programme;<\/p>\n\n\n\n the figure obtained (self-employed workers covered per\n\u20ac invested) is multiplied by the amount invested by Etica Funds for each\nposition in the portfolio;<\/p>\n\n\n\n the contributions calculated are added together, to\nobtain the figure for self-employed workers covered by Etica\u2019s investment in\n2020-2021.<\/p>\n\n\n\n the total number for prevented unemployment in 2020 is\ntaken and divided by the total issued in the form of Social Bonds and invested\nto finance the SURE programme;<\/p>\n\n\n\n the figure obtained (prevented unemployment in 2020\nper \u20ac invested) is multiplied by the amount invested by Etica Funds for each\nposition in the portfolio;<\/p>\n\n\n\n the contributions calculated are added together to\nobtain the figure for prevented unemployment in 2020 by Etica\u2019s investment.<\/p>\n","protected":false},"excerpt":{"rendered":" Etica Funds has developed a proprietary method for calculating the impact of the Social Bonds issued by the European Commission. The fundamental points are the following: Each calculation is based on the latest reports made available by the issuer; Priority is given to any report on the individual issue (identified by the ISIN). Otherwise, the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":43266,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"yst_prominent_words":[34126,34105,34101,34112,34121,1516,34103,34124,34123,34113,34127,34106,34120,34119,34102,34111,34104,34100,34122,34107],"class_list":["post-43278","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/pages\/43278"}],"collection":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/comments?post=43278"}],"version-history":[{"count":3,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/pages\/43278\/revisions"}],"predecessor-version":[{"id":43366,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/pages\/43278\/revisions\/43366"}],"up":[{"embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/pages\/43266"}],"wp:attachment":[{"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/media?parent=43278"}],"wp:term":[{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.eticasgr.com\/en\/wp-json\/wp\/v2\/yst_prominent_words?post=43278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}EMPLOYEES\nCOVERED BY SURE IN 2020-2021<\/strong><\/h2><\/p>\n\n\n\n
SELF-EMPLOYED\nWORKERS COVERED BY SURE IN 2020-2021<\/strong><\/h2><\/p>\n\n\n\n
PREVENTED\nUNEMPLOYMENT IN 2020<\/strong><\/h2><\/p>\n\n\n\n