Objave u vezi s održivosti (na razini proizvoda)

Objave u vezi s održivosti (na razini proizvoda)

Ova verzija naših Objava u vezi s održivosti („objave“, „objave na web-mjestu“) primjenjivat će se od 26. veljače 2026.

Objava se odnosi na sve ESG portfelje koje nudi Revolut Securities Europe UAB:

• Sustainably Defensive
• Sustainable and Steady
• Conscious Equilibrium
• Bold and Sustainable
• Impactful Growth

Objave u vezi s održivosti na razini subjekta pogledajte na ovoj stranici. Kako biste saznali više o ekološkim, društvenim i upravljačkim („ESG”) konceptima, pogledajte Objašnjenje preferencija održivosti i povezana često postavljena pitanja.

Te su objave pripremljene u skladu s Uredbom (EU) 2019/2088 Europskog parlamenta i Vijeća od 27. studenoga 2019. o objavama u vezi s održivosti u sektoru financijskih usluga („Uredba EU-a o objavama u vezi s održivom financiranju”, „SFDR”).

Imajte na umu da se informacije navedene u nastavku moraju objaviti u skladu s primjenjivim zakonom u svrhu transparentnosti i informiranja i ne predstavljaju promidžbeni materijal. Objave trebate razmotriti zajedno s drugom dokumentacijom o proizvodu.

Stupa na snagu od 4. studenoga 2024.

Posljednji je put ažurirano 26. veljače 2026.

U skladu sa zahtjevima utvrđenima u 25. članku, 2. stavku Delegirane uredbe Komisije (EU) 2022/1288 od 6. travnja 2022. kojom se dopunjuje Uredba (EU) 2019/2088 Europskog parlamenta i Vijeća („Delegirana uredba SFDR”), u nastavku pronađite prijevod odjeljka Sažetak. U slučaju bilo kakvog neslaganja, mjerodavna je izvorna engleska verzija.

1. Résumé

Tvrtka Revolut Securities Europe UAB („RSEUAB”, „mi”, „nas”, „naš”), koju u Švicarskoj zastupa Revolut (Švicarska) AG, pruža usluge upravljanja portfeljem na diskrecijskoj osnovi putem Robo savjetnika.

Uvjeti Robo savjetnika zajedno s našimOdredbama o trgovanju, Predugovornom objavom, odgovarajućim izvješćem o strategiji portfelja i bilo kojim drugim dokumentom ili uvjetima i odredbama koji se primjenjuju na investicijski račun klijenta („vi”, „vaš”), čine pravni ugovor između klijenta i nas. Nakon što dovršimo procjenu prikladnosti, klijentu ćemo predstaviti najprikladniju strategiju ulaganja na temelju informacija koje nam klijent pruži tijekom procjene. Izradit ćemo, nadgledati i upravljati portfeljem u ime klijenta u skladu sa strategijom ulaganja.

No zbog ograničenih okolišnih („E”), društvenih („S”) i upravljačkih („G”) podataka, ne možemo jamčiti da preporučena strategija ulaganja usklađena s profilom rizika odgovara određenim preferencijama klijenta u pogledu održivosti. Ako klijent navede interes za usklađivanje svojih ulaganja s obilježjima održivosti, klijent – podložno relevantnoj procjeni prikladnosti i, ako je relevantno i dogovoreno, prilagodbi preferencija održivosti – ima priliku ulagati u portfelje s temeljnom imovinom koja promiče okolišna ili društvena obilježja (ili kombinaciju tih obilježja), s tvrtkama u koje se ulaže i koje slijede dobre prakse upravljanja („ESG portfelji, „portfelji”).

ESG portfelji su strategije ulaganja namijenjene ulagateljima koji žele bolje uskladiti svoje financijske ciljeve s drugim aspektima, kao što su utjecaj tvrtki u koje se ulaže na okoliš, njihova društvena praksa ili učinkovitost njihovih upravljačkih struktura („ESG strategija ulaganja”).

RSEUAB trenutačno nudi sljedeće ESG portfelje, ovisno o pojedinačnoj financijskoj situaciji, investicijskom iskustvu i znanju, ciljevima ulaganja i toleranciji na rizik klijenta, kako je utvrđeno tijekom procjene prikladnosti:

• Sustainably Defensive;
• Sustainable and Steady;
• Conscious Equilibrium;
• Bold and Sustainable;
• Impactful Growth.

S obzirom na to da se ista metodologija za odabir temeljne imovine s obilježjima ESG-a primjenjuje na sve trenutačno dostupne ESG strategije ulaganja, standardizirane objave prije sklapanja ugovora i objavljivanja na web-mjestu pripremljene su u skladu s 10. člankom.

ESG strategije ulaganja koje nudi RSEUAB promiču obilježja zaštite okoliša, društva i dobrog upravljanja; no, ESG portfelji nemaju održivo ulaganje kao cilj u smislu 9. članka SFDR-a, a također ne ulažu u ekološki održive gospodarske aktivnosti.

ESG strategije ulaganja promiču obilježja zaštite okoliša, društva i dobrog upravljanja dodjeljivanjem Znatan dijela ulaganja u fondove iz 8. članka SFDR-a, s temeljnim ulaganjima u tvrtke koje bi trebale pomoći u postizanju ekoloških ili društvenih obilježja koje promiče fond, slijediti dobro upravljanje i na putu su prema većoj održivosti, posebno u radu na postizanju ciljeva neto nulte vrijednosti. Preostali dio imovine u portfelju klasificirano kao „Ostala” ulaganja) može uključivati ​​pažljivo odabrane fondove iz 6. članka SFDR-a, koji su prošli sveobuhvatnu provjeru kako bi se osiguralo da ti fondovi zadovoljavaju definirani minimalni prag robusnog internog ESG posrednika. RSEUAB nije odredio referentnu referentnu vrijednost u svrhu postizanja ekoloških ili društvenih obilježja koje promovira financijski proizvod.

Za fondove temeljene na dionicama i fondove temeljene na fiksnom prihodu (obveznice) koji se razmatraju za ESG strategije ulaganja, RSEUAB je upotrijebio pokazatelje ESG-a od neovisnih davatelja usluga (Bloomberg, MSCI, itd.) i posrednike koristeći rezultate zemalja za državne instrumente i temeljne rezultate dionica za korporativne instrumente koji se koriste za kompilaciju vlastitih internih ESG rezultata. To je kombinirano s neovisnim izvješćima i procjenama trećih strana kako bi se procijenilo koja bi se sredstva trebala uključiti u konačni odabir.

RSEUAB održava redoviti nadzor nad sastavom portfelja i zamjenjuje sredstva koja više ne zadovoljavaju definirane kriterije. Slično tome, RSEUAB je predan rješavanju ključnih ograničenja ESG podataka (ograničena dostupnost, nedosljedna kvaliteta, nedostatak standardizacije u regijama, nedosljednosti u metodologijama davatelja usluga i pokrivenost praznina za neke kategorije imovine) pomnim praćenjem ključnih razvoja i integracijom novih podataka u metodologiju, prema potrebi. Što se tiče pravilnika o angažmanu, angažman se ne promiče kao dio ekoloških i/ili društvenih obilježja ovog proizvoda.

Informacije o pravilniku o ulaganju za svaki financijski instrument unutar ESG portfelja, koje je naveo proizvođač proizvoda, mogu se pronaći u dokumentaciji dotičnog financijskog instrumenta.

2. No sustainable investment objectives

This financial product promotes environmental or social characteristics, but does not have as its objective sustainable investment.

3. Environmental or social characteristics of the financial product

The Article 8 funds within the ESG portfolios promote a variety of environmental and social/governance characteristics, particularly, climate change mitigation, improvement of energy efficiency, support of the transition to low-carbon economy, and good governance.

Not all funds within the Portfolio follow a sustainable or impact investment strategy. Article 6 funds do not have ESG characteristics and/or promote them, and do not hold sustainability as an objective. However, carefully selected Article 6 funds may be included in the remaining portion of the Portfolio, provided they successfully undergo proprietary screening and selection criteria, using a combination of independent provider ratings, including individual E, S, and G pillar and CO2 emissions scores. Please see the Methodology section for more details.

Information on the investment policy of each financial instrument within the ESG portfolio may be found in the disclosure documentation of the respective financial instrument.

4. Investment strategy

ESG portfolios are designed for socially and/or environmentally conscious investors who seek diversification and financial returns, while also considering non-financial (i.e., ESG) factors alongside traditional financial performance. Therefore, in the ESG portfolio design, ESG criteria was taken into account to shortlist and, then, select the final set of underlying funds.

The ESG portfolio invests in financial products (primarily, exchange-traded funds (“ETFs”, “funds”), which match predetermined criteria for ESG screening. For ESG Investment Strategies, RSEUAB has created Portfolios that consist of either selected funds that are classified as Article 8 funds (environmental and socially promoting as per the SFDR) or Article 6 funds (no explicit sustainability focus as per the SFDR) that bear a sufficiently high ESG score, as determined by independent ESG score providers. In case of bond ETFs, various other parameters such as the ESG rating of the issuer of the sovereign are taken into consideration. RSEUAB has ensured that Portfolio-level coverage of Article 8 ETFs is between 44% to 74%. Please see the Methodology section for more information on the selection of funds for the Portfolios.

At the moment, no Article 9 funds (funds with sustainable investment as an objective, as per the SFDR) are included in the asset allocation of the ESG portfolios. Put simply, the investments underlying the Portfolios do not have direct significant environmental or social objectives but consider E/S factors. Additionally, under the SFDR, Article 8 funds must ensure that their underlying investments follow good governance practices. The remaining Article 6 funds in the ESG portfolios are also screened and assigned an ESG score, which includes good governance as one of the key parameters. By extension, through the ETF selection process, ESG portfolios also focus on companies with effective and accountable company management practices.

Despite not having committed to an explicit sustainability objective, these investments consider ESG initiatives (e.g., promote positive structural changes within the society and the economy). In accordance with our ESG Investment Strategy, the coverage of Article 8 funds (promoting environmental and/or social characteristics) per Portfolio is as follows: 44% for the Sustainably Defensive Portfolio, 44% for the Sustainable and Steady Portfolio, 59% for the Conscious Equilibrium Portfolio, 60% for the Bold and Sustainable Portfolio, and 74% for the Impactful Growth Portfolio.

Principal adverse impact metrics are not taken into account in the investment decision-making process at this moment in time.

Please refer to the “Strategy” section of the relevant Portfolio Strategy Report for Portfolio-specific details.

5. Proportion of investments

The Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852 (the “Pre-contractual Disclosure”) for ESG Investment Strategies is available as an annex to the RSEUAB Risk Description document here.

The ESG portfolio invests in financial products (primarily, ETFs with underlying investments in equities and bonds (fixed income)), which match predetermined criteria for ESG screening.

At least 44% of the ESG portfolios are aligned with E/S characteristics through commitment to invest at least this proportion of assets into Article 8 ETFs. The remaining portion of the ESG portfolio assets are into ‘Other’ investments. These consist of Article 6 ETFs which, although they do not specifically promote sustainability characteristics, are nonetheless screened against sustainability criteria. Please see the graph in section "What is the asset allocation planned for this financial product?" of the Pre-contractual Disclosure for additional information.

6. Monitoring of environmental or social characteristics

As a portfolio manager, RSEUAB pays close attention to ensuring that compliance with the sustainability criteria at the level of individual financial instruments is maintained. Therefore, as noted below, RSEUAB regularly monitors the underlying holdings of the largest portfolio constituents to ensure their ongoing alignment with disclosed ESG characteristics. Where the funds’ alignment with ESG characteristics shifts and it no longer meets the initial criteria laid out in the methodology, inclusion of the said fund is re-evaluated and substituted.

In addition, ongoing oversight, ESG Portfolio composition may at any point be subject to risk and compliance control spot checks and independent audit.

7. Methodologies

For ESG Investment Strategies, in addition to the usual selection criteria (e.g. low costs, high liquidity and broad diversification), the three aspects of sustainability (environmental, social and corporate governance) are taken into account when selecting financial instruments. RSEUAB primarily selects financial instruments the composition of which takes into account certain ESG standards, i.e. where the investment policy already aims to avoid or reduce sustainability risks using suitable and recognised methods of selection and Portfolio construction.

Generally speaking, the ESG Investment Strategies are built using a strategic asset allocation (“SAA”) approach, with a strong emphasis on sustainability factors. The aim is to achieve maximum diversification across regions and asset classes, primarily through the use of financial instruments that track broad market benchmark indices.

The weights of the optimal asset allocation are determined based on performance and risk of the shortlisted ETFs. The final selection of ETFs from the shortlist is based on their potential performance, which is based on fundamentals, risks, intrinsic valuations, and estimated returns. The selected funds are overlaid with market views (optional), and fed into allocation optimizers which are then aligned with the clients’ target objectives.

Portfolio allocation can be constructed based on selected target objectives (e.g., if the client prefers to target market estimated returns, market risks, likelihood of loss, or tail risks - Conditional Var, or CvaR). The output is the long-term stable allocation, or SAA. Short term market swings can figure in the allocation adjustments (Tactical Asset Allocation, “TAA”) against the SAA allocations. Finally, rebalancing and monitoring of the performances is used to stabilize market exposures and minimize unintended consequences.

Regarding the financial instruments and their specific ESG characteristics, as well as the methods used to assess, measure, and monitor these characteristics and impacts, RSEUAB relies on data provided by the respective product manufacturers. This includes information on data sources, criteria for valuing underlying assets, and the sustainability indicators used to measure the environmental or social attributes or overall sustainability impacts.

In our ESG fund selection methodology, we place stringent emphasis on verifying the accuracy of labeling to prevent exposure to greenwashing. This process ensures the integrity of the funds we shortlist. Additionally, we track and regularly monitor the major Portfolio constituents' underlying holdings to ensure that the investment funds selected remain consistent with the ESG characteristics they have disclosed to be aligned with.

All ESG portfolios should have a minimum between 44-74% (depending on the Portfolio) of Article 8 funds (meaning, a substantial fraction of the Portfolio invests in funds that promote sustainable - environmental or social - characteristics, as defined in the SFDR). All considered funds are compared and selected using the combination of their SFDR classification, the ESG score (sustainability rating) given by the external provider, Environmental, Social and Governance Pillar scores, and the CO2 emissions score.

Furthermore, in our classification, we use the following indicators:

Equities-based financial instruments (equity funds): there is a wide variety of independent ESG metrics providers in the equity market. Our metrics used for ESG scoring of these instruments are drawn from a combined score based on:

• Bloomberg ESG;
• MSCI ESG;
• Sustainalytics ESG.

Fixed Income-based instruments (bond funds): fixed income instrument issuers mainly comprise sovereigns and corporates. ESG scores are not readily available for these instruments; therefore, we have constructed our own proxies using country scores for sovereign instruments and underlying equity scores for corporate instruments.

RSEUAB has also employed a list of independent third-party reports and assessments to come up with the final selection of funds:

• World Bank ESG Ratings;
• Notre Dame Global Adaptation Initiative Country Index (“ND-GAIN”);
• GHG Sovereign Emissions;
• Net Zero Alignment - Germanwatch’s Climate Change Performance Index (“CCPI”) and the Climate Action Tracker.

Ratings on governments (for sovereign issuers) are derived from ESG scores from the World Bank. We compose the 3 different pillars of Environmental, Social and Governance from a weighted normalized Min-Max computation of selected indicators within each pillar. The country scores are used to represent the rating of the sovereign issuer. We employ a subset of 32 (E), 22 (S), and 18 (G) indicators. The chosen indicators used are listed below:

Environment Indicators (3 selected out of 32):

1. CO2 emissions (metric tons per capita);
2. Methane emissions (metric tons of CO2 equivalent per capita);
3. Nitrous oxide emissions (metric tons of CO2 equivalent per capita).

Social Indicators (11 selected out of 22):

1. School enrollment, primary (% gross);
2. People using safely managed drinking water services (% of population);
3. People using safely managed sanitation services (% of population);
4. Access to electricity (% of population);
5. Access to clean fuels and technologies for cooking (% of population);
6. Government expenditure on education, total (% of government expenditure);
7. Life expectancy at birth, total (years);
8. Literacy rate, adult total (% of people ages 15 and above);
9. Income share held by lowest 20%;
10. Labor force participation rate, total (% of total population ages 15-64);
11. Fertility rate, total (births per woman).

Governance Indicators (4 selected out of 18):

1. Government Effectiveness: Estimate;
2. Political Stability and Absence of Violence/Terrorism: Estimate;
3. Regulatory Quality: Estimate;
4. Strength of legal rights index (0 = weak to 12 = strong).

Furthermore, it is easier to use proxies for companies than for governments, provided those companies are listed on major stock exchanges. Using the equivalent equity proxy for corporate issuers which have equity listings allows us to be more consistent with the equity scores. The metrics used for ESG scoring of corporate bonds (with equity listings) are drawn from the similar list of providers, including:

• Bloomberg ESG;
• MSCI ESG;
• Sustainalytics ESG.

8. Data sources and processing

To measure the attainment of the environmental or social characteristics promoted by this financial product, RSEUAB employs data from a variety of leading external data providers, specializing in sustainability analyses, such as Bloomberg, MSCI and Sustainalytics. This is supplemented through the use of reputable independent third-party reports, including the World Bank ESG Ratings, the Notre Dame Global Adaptation Initiative Country Index (“ND-GAIN”), GHG Sovereign Emissions, Net Zero Alignment - Germanwatch’s Climate Change Performance Index (“CCPI”), and the Climate Action Tracker. Funds are then carefully handpicked based on computed scores - where sufficient ESG metrics are unavailable, the fund is not considered for the shortlisted selection. For example, for assessing which fixed-income instruments should be included in the fund selection, we use the World Bank ESG dataset (a customizable calibration describing the three main pillars of E, S, and G) to formulate ESG scores for sovereign issuers and their respective agencies.

Please note that the data sourced from external providers is not differentiated based on estimated and reported data, making it challenging to precisely calculate the proportion of data that is estimated. Therefore, the proportion of estimated data used at a given point in time is not currently tracked for ESG portfolios.

Please see the Methodology section for details on how this data is used by the analysts to produce a final list of funds to be included in the asset allocation, and the Due Diligence section for information on quality controls employed.

9. Limitations to methodologies and data

In today’s digital landscape, gathering high-quality ESG data remains a challenge.

Key limitations to the methodology employed may include the following:

• limited data availability and/or granularity, largely because reporting is often not mandatory for smaller and/or private companies;
• inconsistent data quality and inadequate auditing of company disclosures;
• absence of a unified standard framework across jurisdictions, including differing terminology and definitions (e.g. between the EU and the U.S.);
• inconsistencies and lack of comparability in available data from different providers due to varied proprietary methodologies;
• ESG data and ratings remain unavailable for certain asset classes.

Nonetheless, RSEUAB’s focus on available data ensures that investments align with the ESG portfolios’ overarching environmental or social objectives, even if some specific data points may be limited. The methodology prioritizes reliable data sources and considers qualitative factors, to obtain a more comprehensive view of sustainability practices. Furthermore, funds, for which there are no sufficient ESG metrics available, are not considered for the shortlisted selection.

To address these limitations, we also intend to continue closely monitoring key developments in ESG data metrics, refining our approach as needed to integrate new information and enhance our methodology.

10. Due diligence

As a portfolio manager, RSEUAB conducts due diligence on the underlying assets by ensuring that investment restrictions for the financial product are adhered to, particularly those related to defined final selection criteria, including SFDR classification, ESG rating threshold and labels, and defined minimum E, S, and G pillar scores, derived from a subset of selected E, S, and G indicators from the World Bank ESG database.

Note that all underlying assets selected must have some measure of environmental, social, and governance characteristics, as described, before they are even shortlisted for consideration. This means that only assets that fulfill these baseline ESG selection standards will proceed to the next stages of evaluation or consideration for inclusion in the Portfolios.

The composition of the Portfolio is regularly monitored by an external provider as well as through an internal register to ensure that the funds selected remain consistent with the ESG characteristics they have disclosed to be aligned with.

11. Engagement policies

At this stage, engagement is not a part of the environmental and/or social investment strategy or characteristics of this product.

12. Designated reference benchmark

At this moment, no specific reference benchmark has been designated to attain environmental and/or social characteristics.

Change log

Information in these product-level Disclosures should not be understood as investment advice or personal recommendation. These Disclosures do not provide any indication of current or future performance of the Portfolio nor do they represent its potential risk and return profile. Revolut Securities Europe UAB does not guarantee that your investment objectives will be achieved or that the Portfolio will generate returns or that negative returns can or will be avoided in the Portfolio. Past performance or future projections of individual instruments or Portfolios is not a guarantee or reliable indicator of future results. Investing involves risk, therefore, your Portfolio may lose value and you may not get back the amount invested.