Organisational implementation of sustainability

The highest management body in matters of sustainability is the Corporate Executive Board, chaired by the Group CEO. The Board of Directors – the supreme authority for strategic issues – is kept regularly informed about measures and progress in the area of sustainability.

The variable compensation components are linked to the strategic objectives of the Group and the individual divisions, and the associated financial and HR-related targets. Qualitative goals relate in particular to project, risk management or compliance goals and to leadership, sustainability and ESG (environmental, social, corporate governance) requirements. Personal performance based on the specified quantitative and qualitative objectives is assessed annually in the employee appraisal procedure implemented throughout the Group (Group Performance System, GPS).

The Swiss Life Group Sustainability team is responsible for the coordination, steering and implementation of all measures at Group level. This team ensures that the focus areas defined by Swiss Life’s sustainability strategy are integrated within and implemented by the divisions. The team also reports on its progress and engages in dialogue with key stakeholder groups at Group level. The Swiss Life Group Sustainability team is led by the Group Head Sustainability.

The sustainability organisation is aligned to Swiss Life’s multi-divisional organisation: it comprises sustainability delegates from all divisions as well as specialist delegates. Ten subject areas have been defined for specialist management. In 2020, Swiss Life Group’s sustainability organisation comprised around 31 full-time equivalents (FTE).

Further information can be found in section “Risk Management” and in the Sustainability Report (section “Sustainability at Swiss Life”).

Within the Corporate Executive Board, the Group Chief Investment Officer (Group CIO) is in charge of ensuring Swiss Life’s responsible investment approach, of which climate-related risks and opportunities are material factors. The Swiss Life Asset Managers Executive Committee, headed by the Group CIO, oversees overarching ESG, climate policy and strategy issues, such as green investment strategies and controversy analysis of the securities portfolio. The Swiss Life Asset Managers ESG Board supports the Group CIO with the implementation and creation of internal synergies within asset management. The ESG Board comprises ESG specialists from all business units, dedicated ESG managers as well as representatives from relevant functions and subject matter experts and it is chaired by the Head ESG. ESG targets are integrated into the personal annual targets of the members of both the ESG Board and the aforementioned Executive Committee.

Further information can be found in the Responsible Investment Report at www.swisslife-am.com/rireport (section “Embedding climate action in our responsible investment approach (TCFD)”).