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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.
| Exclusion Category / Description | Measure | Sustainable Family Threshold |
| Controversial Weapons: General | Involvement in production, intended use components or exclusive delivery platforms related to controversial weapons guided by international treaties | Any |
| Controversial Weapons: Nuclear weapons | Involvement in production of nuclear warheads/missiles and intended use components and exclusive delivery platforms for nuclear weapons. Involvement in nuclear weapons support services |
Any |
| Conventional Weapons | Revenues from production of weapons, systems & critical components | ≥5% |
| Semi-automatic Weapons | Involvement in production Revenues from distribution |
Any ≥5% |
| Tobacco | Involvement in production Revenues from related business activities |
Any ≥5% |
| Thermal Coal | Revenues from extraction/mining Revenues from power generation |
≥5%1 |
| Arctic Oil & Gas | Revenues from extraction | ≥5% |
| Oil Sands | Revenues from extraction | ≥5% |
| Norms-based | Issuers which Fidelity assesses as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environment and anti-corruption as aligned with international norms. | Any |
| Sovereign | Sovereign indicators and internal analysis2 | Fail test |
For Fund Level exclusions please select below:
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. |
|
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. |
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