Principle 1 – The financial service providers determine the client expectations with respect to ESG investing and document them as part of the advisory process. The bank has to assess the client’s potential investment restrictions, if there are any. A structured interaction with the client is necessary to determine their investment profile, which not only takes into account traditional preferences, but also ESG preferences in a standardised approach as defined individually by each financial service provider. Should a client express no interest in applying ESG criteria to their investments, this should also be adequately documented and, in such event, these guidelines are not applicable to this client relationship. However, in line with FinSA requirements regarding financial risk disclosure, ESG criteria should still be taken into account as far as they have an effect on the financial risks of an investment.
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