What we don’t invest in
We don’t invest in companies that:
- are involved in manufacturing (including components or support systems) controversial weapons, including cluster munitions, anti-personnel mines, biological/chemical weapons or nuclear weapons
- are involved in manufacturing automatic or semi-automatic firearms, magazines or parts for civilian use
- generate more than 5% of their revenue from any other weapons related business activities
- generate more than 10% of their revenue from thermal coal mining
- generate more than 10% of their revenue from the extraction of unconventional oil and gas. This includes revenues from oil sands, oil shale (kerogen-rich deposits), shale gas, shale oil, coal seam gas, coal bed methane as well as Arctic onshore/offshore
- are involved in manufacturing tobacco products
- generate more than 5% of their revenue from adult entertainment
- are involved in whaling and whale meat processing.
We use the MSCI ESG Manager tool in conjunction with our own internal research to determine a company’s involvement in the above business activities.
We also don’t invest in companies across a range of industries that have breached global norms or standards to a severe degree, including severe abuses of human rights, labour rights, the environment or other ESG (environmental, social, and governance) issues.
View our current list of excluded companies.
It’s important to note that if we buy units in a fund that isn’t managed by us, our investment might be exposed to companies we would ordinarily exclude. This possibility is factored into our decision to buy any such units.