Responsible Investing - Excluded Companies

We don’t invest in companies that:

• are involved in manufacturing controversial weapons, including cluster munitions and anti-personnel mines
• are involved in manufacturing or testing nuclear explosive devices
• are involved in manufacturing tobacco products, and
• are involved in manufacturing automatic and semi-automatic firearms, magazines or parts for civilian use
• generate more than 10% of their revenue from thermal coal mining
• derive greater 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
• companies that derive 5% or more of their revenue from adult entertainment
• are involved in whaling and whale meat processing.

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.