The following disclosure relates to Citibank, N.A., Singapore branch's discretionary asset management business only and does not apply to any other branches of Citibank, N.A.. nor to any other businesses operating through the Singapore branch of Citibank, N.A..
Citibank, N.A., Singapore Branch’s discretionary asset management business is subject to the Monetary Authority of Singapore’s Environmental Risk Management Guidelines for Asset Managers Guidelines. This business provides discretionary portfolio management services and offers a range of core, opportunistic and thematic strategies across asset classes in- house and extensively vetted third-party strategies.
Citibank, N.A., Singapore Branch’s discretionary asset management business integrates environmental risks (where data is relevant and/or available) in its investment management process by:
- considering a number of factors such as environmental, social and governance (‘ESG’) risk ratings, physical climate risks and transition risks at the research and portfolio construction stage; and
- conducting scenario analysis based on available third-party climate change models that consider factors such as Climate Value at Risk (‘CVaR’) scores in portfolio risk management.
Climate-related risk is one of a number of risks that this business may consider and such risk forms part of its overall risk management process. However, climate-related risk is not an overriding risk indicator when Citibank, N.A., Singapore Branch’s discretionary asset management business researches, constructs and manages its portfolios. Citibank, N.A., Singapore Branch’s discretionary asset management business does not apply any absolute risk thresholds to determine materiality or applicability of climate risks to an investment or managed portfolio.
