ESG

Sustainable Finance Disclosure Regulation (SFDR) Disclosures of P2P Lending Fund

Sustainable Finance Disclosure Regulation (SFDR) Disclosures of P2P Lending Fund (English Version)

  1. Regulation

The P2P Lending Fund (the “Sub-Fund”), a sub-fund of Millennia SICAV RAIF, falls under Article 6 of the SFDR as it does not consider the EU criteria for ESG investing. Nevertheless, it enacted an ESG Policy in March 2021 directing ESG procedures on a best effort basis in the investment decision process. The Sub-Fund’s strategy is built around minimum impacts that shall be, on a best effort basis, part of the investment decision in terms of E (environment), S (social responsibility) and G (Governance), that articulates as follows:

The Sustainable Finance Disclosure Regulation (SFDR) imposes mandatory ESG disclosure obligations for asset managers and other financial markets participants with substantive provisions of the regulation effective from 10 March 2021.

SFDR lays down harmonised rules for financial market participants and financial advisers on transparency with regard to the integration of sustainability risks and the consideration of adverse sustainability impacts in their processes and the provision of sustainability related information with respect to financial products.

  1. Definitions

SFDR means Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability related disclosures in the financial services sector.

ESG means Environmental (E), social (S) and/or governance (G).

Sustainability Risks refers to an environmental (E), social (S) or governance (G) (collectively, “ESG”) event, or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the investment.


  1. Millennia’s ESG Policy

The P2P Lending Fund (the “Sub-Fund”), a sub-fund of Millennia SICAV RAIF, falls under Article 6 of the SFDR as it does not consider the EU criteria for ESG investing. Nevertheless, it enacted an ESG Policy in March 2021 directing ESG procedures on a best effort basis in the investment decision process. The Sub-Fund’s strategy is built around minimum impacts that shall be, on a best effort basis, part of the investment decision in terms of E (environment), S (social responsibility) and G (Governance), that articulates as follows:

The Sub-Fund’s strategy is built around minimum impacts that shall be, on a best effort basis, part of the investment decision in terms of E (environment), S (social responsibility) and G (Governance), that articulates as follows:

E (Environment):

The Sub-Fund aims to contribute to a positive impact by:

  • Limiting office space to Luxembourg only, while operations spam from London to Geneva (remotely) and Luxembourg
  • Preferring video conferencing and calls over physical meetings that entail flights
  • Preferring public transportation and train over individual car rides
  • Limiting printing paper to situations where electronic document cannot be used
  • Work with counterparties that essentially run online-based business having a lighter carbon footprint than traditional brick-and-mortar businesses

S (Social Responsibility):

In terms of socially responsible lending, the Sub-Fund adheres to the following principles:

  • Follow Fair Lending Practices
  • Promote and facilitate debt consolidation, deleveraging and personal credit score enhancements
  • Adhere to fair and transparent interest charges
  • Work with lenders that are not engaged in the financing harmful businesses

G (Governance);

The Sub-Fund partners only with lenders that adhere to the below minimum standards:

  • Have sound Corporate Governance and oversight
  • Align their interest with investors’ interests
  • Promote diversity and do not discriminate

Sustainability Risks refers to an ESG event, or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the investment.

It should be noted that while Sustainability Risks are considered systematically no one aspect would prevent the Investment Manager from making any investment as investment decisions remain discretionary within the investment objectives of the Sub-Fund.

The manner in which ESG Procedures are integrated into the investment decisions of the Sub-Fund are  set out in the respective Special Section of the Offering Memorandum.

For further information, please contact us on info@millennia.fund.

Réglementation sur la divulgation de la finance durable (SFDR) Divulgations du fonds de prêt P2P
(Version Française)

  1. Règlement
  • Le règlement sur la divulgation de la finance durable (SFDR) impose des obligations de divulgation ESG obligatoires aux gestionnaires d’actifs et aux autres acteurs des marchés financiers avec des dispositions de fond du règlement applicables à partir du 10 mars 2021.
  • Le SFDR1 établit des règles harmonisées pour les acteurs des marchés financiers et les conseillers financiers sur la transparence en ce qui concerne l’intégration des risques de durabilité et la prise en compte des impacts négatifs sur la durabilité dans leurs processus et la fourniture d’informations liées à la durabilité en ce qui concerne les produits financiers.

 

  1. Définitions
  • SFDR désigne le Règlement (UE) 2019/2088 du Parlement européen et du Conseil du 27 novembre 2019 sur les informations à fournir en matière de développement durable dans le secteur des services financiers.
  • ESG signifie Environnemental (E), social (S) et/ou gouvernance (G).
  • Les risques de soutenabilité font référence à un événement ou à une condition environnementale (E), sociale (S) ou de gouvernance (G) (collectivement, « ESG ») qui, s’il se produit, pourrait avoir un impact négatif réel ou potentiel sur la valeur de l’investissement.

 

  1. La politique ESG de Millennia

 

Le P2P Lending Fund (le « Compartiment »), un compartiment de Millennia SICAV RAIF, a adopté une politique ESG2 en mars 2021 orientant ses procédures ESG dans le processus de décision d’investissement.

La stratégie du Compartiment s’articule autour d’impacts minimaux qui doivent, dans la mesure du possible, faire partie de la décision d’investissement en termes de E (environnement), S (responsabilité sociale) et G (Gouvernance), qui s’articule comme suit :

 

E (Environnement) :

  • Le Compartiment vise à contribuer à un impact positif en :
  • Limitation des espaces de bureaux au Luxembourg uniquement, tandis que les opérations spam de Londres vers Genève (à distance) et Luxembourg
  • Préférer les visioconférences et les appels aux réunions physiques impliquant des vols
  • Préférer les transports en commun et le train aux trajets individuels en voiture
  • Limiter le papier d’impression aux situations où le document électronique ne peut pas être utilisé
  • Travaillez avec des contreparties qui gèrent essentiellement des activités en ligne, ayant une empreinte carbone plus légère que les entreprises traditionnelles de brique et de mortier

 

S (Responsabilité Sociale) :

  • En termes de prêt socialement responsable, le Compartiment adhère aux principes suivants :
  • Suivre des pratiques de prêt équitables
  • Promouvoir et faciliter la consolidation de dettes, le désendettement et l’amélioration de la cote de crédit personnelle
  • Adhérer à des frais d’intérêt justes et transparents
  • S’associe avec des prêteurs qui ne sont pas engagés dans le financement d’entreprises nuisibles

 

G (Gouvernance) ;

  • Le Compartiment s’associe uniquement avec des prêteurs qui adhèrent aux normes minimales ci-dessous :
  • Avoir une bonne gouvernance d’entreprise et une surveillance
  • Aligner leurs intérêts sur ceux des investisseurs
  • Promouvoir la diversité et ne pas discriminer

 

Les risques de soutenabilité font référence à un événement ou à une condition ESG qui, s’il se produit, pourrait avoir un impact négatif réel ou potentiel sur la valeur de l’investissement.

Il convient de noter que, bien que les risques de durabilité soient systématiquement pris en compte, aucun aspect n’empêcherait le Gestionnaire d’investissement d’effectuer un investissement car les décisions d’investissement restent discrétionnaires dans le cadre des objectifs d’investissement du Compartiment.

La manière dont les Procédures ESG sont intégrées dans les décisions d’investissement du Compartiment est décrite dans la Section spéciale respective de la Notice d’offre.

Pour plus d’informations, veuillez nous contacter sur info@millennia.fund.

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2 Avenue du Blues, Belvaux, L-4368 Luxembourg

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info@p2plending.fund

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