Assets and capital of the Foundation
The Foundation EVZ was founded in 2000 with a total of 10.1 billion DM. Of this, 9.4 billion DM (4.8 billion euros) and interest accumulated were used to compensate former forced labourers and other victims of the Nazi regime and to cover the costs of organizing these payments; 700 million DM (358 million euros) represented the capital basis for the long-term funding of Foundation EVZ. After concluding payments in 2007, the main task of the foundation is to promote international projects in the foundation’s three fields of activity. These activities are funded exclusively from the yields of the foundation’s capital and occasionally financed using additional donations.
Sustainability: ethical investment
The EVZ Foundation has further developed its sustainability strategy in order to contribute to the sustainability strategy of the Federal Government. The new strategy was implemented for the first time as part of a pilot project under a special fund mandate for shares. Unification of Standards and further strategy implementations will take place next year.
The new sustainability strategy is a combination of different approaches to stock selection and Dialog strategies. In addition, the EVZ Foundation has defined different levels of exclusion criteria. This differentiation expands the scope for a gradual operationa lization of the strategy. As a result of a global dialog with issuers in recent years, major issuers such as Royal Dutch Shell, Apple, Walmart Stores, Barrick Gold, ExxonMobil, Mitsubishi, Seven & i Holdings, Sony, and TEPCO have been divested because of various controversies. The asset managers must take this Blacklist into account.