By reducing exposure to fossil fuel companies, we aim to build more resilient portfolios for our investors, reduce climate-related risks and participate in the low carbon energy transition.

Our definition of ‘Fossil fuel free’

Fossil fuel (thermal coal, oil and gas) – Energy Sector: exploration & production and refining & processing

Companies with >0% revenue or profits1 derived from direct fossil fuel activities identified above will be excluded from the portfolio.

Storage and distribution sector: storage & distribution

Companies with >5% revenue or profits1 derived from direct storage and distribution activities will ordinarily be excluded from the portfolio although companies may be included in the portfolio if the company has established itself as a leader in the transition to a zero-emissions energy economy with reduction targets, including Scope 1, Scope 2, and Scope 3, that are compatible with the Paris Agreement’s target of limiting future warming to 2⁰C, and has agreed to publicly report on progress. 

Utility power generation sector: coal, oil, natural gas

Companies with >5% revenue or profits1 derived from the above power generation sector will ordinarily be excluded from the portfolio although companies may be included in the portfolio if the company has established itself as a leader in the transition to a zero-emissions energy economy with reduction targets, including Scope 1, Scope 2, and Scope 3, compatible with the Paris Agreement’s target of limiting future warming to 2⁰C, and has agreed to publicly report on progress. 

Green bonds

When we invest in a bond whose use of proceeds specifies that the funds raised will be used to finance renewable energy, or other activities consistent with a Paris-aligned transition to a low-carbon economy, we may invest in those bonds without regard to the issuer’s percentages of revenue or profits as described above.

1Profits defined as EBIT/EBITA/EBITDA.

Our fossil fuel free strategies

  • Leaders Strategy
  • Climate Strategy
  • Global Opportunities Strategy
  • High Yield Bond Strategy

Scroll to top
User Agent: Mozilla/5.0 (compatible; bingbot/2.0; +http://www.bing.com/bingbot.htm)