Exclusion

Swiss Re’s approach to exclusion is based on our Group-wide ESG Risk Framework, which sets criteria for what Swiss Re considers acceptable business and may lead to exclusions of companies or countries from our investment universe. See “Our ESG Risk Framework”. Additionally, we consider the way companies conduct their business by screening their alignment with the ten principles of the UN Global Compact.

Our long-term objective for 2030 is to fully exit coal mining and coal-based power generation for our listed equity and corporate bond portfolio via normal portfolio reallocations. Furthermore, in our infrastructure loan and private placement portfolios we are excluding any coal-related assets and limiting oil- and gas-related investments to maturities not longer than 2030 and 2035, respectively.