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Sustainable Family Exclusions

Weapons  

Controversial weapons~; semi-automatic weapons producers~, and retailers*; conventional weapons* 

Fossil Fuels 

Thermal coal miners & power generation*^; oil sands extraction*; arctic oil & gas production* 

Tobacco 

All producers and manufacturers~; tobacco retailers, distributors, suppliers and licensors*  

Norms-based exclusions 

Issuers in violation of United Nations Global Compact, the OECD Guidelines for Multinational Enterprises, the UN Guiding Principles for Business and Human Rights, Responsible Business Conduct and International Labour Organization (ILO) Conventions. 

Sovereign exclusions 

 

Sovereign issuers are assessed based on three principles relating to governance, respect for human rights and foreign policy. We also rely on internationally recognised country indicators for our assessment of sovereign issuers (see definitions section) 

~ issuers deriving more than 0% revenue from the excluded sector/theme
* issuers deriving more than 5% revenue from the excluded sector/theme
^ subject to specific criteria that reflects an issuer’s commitment to transitioning to a low carbon world

For Fund Level exclusions please select below:

Fidelity Institutional Liquidity Funds plc (“ILF”)

Definitions

Sovereign  

In addition to our internal assessment, we will also automatically exclude issuers identified by internationally recognised country indicators  as follows:- The World Bank’s Worldwide Governance Indicators (WGI) (countries in the bottom 5 percentile and performing badly in 2 or more indicators); countries identified by Financial Action Task Force (FATF) as high-risk jurisdictions that have significant strategic deficiencies in their regimes to counter money laundering, terrorist financing, and financing of proliferation; countries identified in the United Nations Security Council Sanctions; and signatories who have not ratified the Paris Agreement.

Thermal Coal  

We will exclude issuers deriving over 5% of revenue from thermal coal extraction and power generation.  We will allow an exception to this exclusion if an issuer has less than 30% revenue from thermal coal related activities and also meets either of the following two requirements: (i) the revenue share from renewable energy activities exceeds the revenue share from thermal coal activities, or (ii) the issuer has made an effective commitment to a Paris Agreement aligned objective based on approved Science Based Targets or alignment with a Transition Pathway Initiative scenario or a reasonably equivalent public commitment.

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