GCO (Grupo Catalana Occidente) aligns its pension plan investment policy with sustainability criteria

"As part of its commitment to contribute to social and economic development, respect human rights and the environment, GCO continues to work to promote environmental or social characteristics when selecting financial assets"

The pension manager of GCO (Grupo Catalana Occidente), GCO Gestora de Pensiones, EGFP S.A.U., has applied new sustainability criteria to the Investment Policies of all its pension funds and pension plans of the EPSV (Voluntary Social Welfare Entity), with effect from 1 October, to promote environmental and social characteristics. This means that investments will be guided by sustainability and financial principles, in keeping with the commitment made by the insurance group to the best corporate governance and sustainability practices and to contribute to social and economic development, respect human rights and the environment. This is all materialised through its sustainability policy and its Sustainability Master Plan.

After updating the investment policy of all the pension funds managed by GCO Gestora de Pensiones, all its funds promote environmental or social characteristics when selecting their financial assets, complying with Article 8 of Regulation 2019/2088 of the European Union on sustainability‐related disclosures in the financial services sector. As a result, GCO Gestora de Pensiones confirms that the assets in which its pension funds and plans (EPSV) invest satisfy environmental characteristics focused on decarbonisation through the reduction of greenhouse emissions, as well as efficiency in the use of energy resources and in the emission and management of waste. They also promote social characteristics, most notably the protection of human rights, health and safety at work, and ethics in business.

Juan Closa, Managing Director of Traditional Business at GCO, said "as an insurance group, we are fully committed to contributing to social and economic development, always with the utmost respect for human rights and the environment, given that we are aware that we must assume a key role in the long-term development of the model".

A complete range of protection

The companies of GCO's traditional business (Seguros Catalana Occidente, Plus Ultra Seguros and Seguros Bilbao), which will soon merge under the new Occidente brand, offer a complete range of retirement products that make it possible to receive income to supplement the public retirement pension. These products include pension plans, guaranteed benefit plans (PPA), corporate social welfare plans (PPSE) and individual pension plans of the EPSV (Voluntary Social Welfare Entity). This complete range of products for both individual savings and for companies, is supplemented with a wide range of investment options (from guaranteed products to investments in equities) that allow for flexible contributions and different options tailored to the customer's profile. Customers can choose the product or combination of products that are best suited to their needs and profile at any given time, while they can adapt this choice to their needs by resorting to transfers between the different products.

The role of the broker, which represents almost 90% of the Group's turnover in traditional business, is key to advising and recommending the opening of a pension plan from the GCO companies, since the broker knows the needs of each customer and can offer customised solutions. In this regard, until 31 December, customers of the insurance group will be able to benefit from exclusive conditions for opening or transferring pension products, which they can find out about through their broker or the websites of the Group's companies.