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Sustainable Family Exclusions
All funds managed by Fidelity International are subject to Fidelity International’s Firmwide Exclusions Framework. Fidelity also has an exclusion framework for individual investment strategies (such as our Sustainable Fund range, SFDR Article 8 and Article 9 Funds) to ensure that issuers in which these funds invest meet certain minimum standards and behave in a manner consistent with responsible investment values. Additional fund-specific exclusions may be implemented on a fund within the Sustainable Family depending on investment mandates, sustainability label requirements and the fund’s investment approach.
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Weapons |
Controversial weapons (including anti-personnel landmines, cluster munitions, chemical weapons, biological weapons, blinding laser weapons, incendiary weapons, non-detectable fragments, depleted uranium and nuclear weapons)~; semi-automatic weapons producers~, semi-automatic distributors & retailers*; conventional weapons* |
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Fossil Fuels |
Thermal coal miners & power generation*^; oil sands extraction*; arctic oil & gas production* |
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Tobacco |
All producers and manufacturers of tobacco and tobacco-related products~; tobacco retailers, distributors, suppliers and licensors* |
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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. |
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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 5% or more 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:
Definitions
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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. |
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Thermal Coal |
We will exclude issuers deriving 5% or more 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. |
This communication is not directed at, and must not be acted upon by persons inside the United States and is otherwise only directed at persons residing in jurisdictions where the relevant funds are authorised for distribution or where no such authorisation is required. Fidelity International refers to the group of companies which form the global investment management organisation that provides information on products and services in designated jurisdictions outside of North America. This information must not be reproduced or circulated without prior permission. Fidelity only offers information on products and services and does not provide investment advice based on individual circumstances, other than when specifically stipulated by an appropriately authorised firm, in a formal communication with the client.
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