At Fidelity, we are committed to supporting our clients to achieve their sustainable investing objectives. Leveraging our integration tools and processes and stewardship approach, our Fidelity Sustainable Investing Framework (FSIF) provides a common language for developing products that meet clients’ traditional investment and sustainability preferences. The FSIF includes modules that classify our products by their degree of sustainability commitments and aim to align with the standards of relevant sustainability legislation or sustainability labels, as required.

While our FSIF aims to provide a global baseline for our approach to sustainable investing, product and market specific adaptations will exist to meet local requirements, different asset classes, and legacy product ranges.

More information, including our sustainable investing beliefs and overall approach, is detailed in the Sustainable Investing Principles document (SI Principles).

For details on the implementation of our framework, please refer to product specific disclosures available on the relevant product webpage of the relevant local websites mentioned below and the methodology section.

Fidelity’s Sustainable Investing Framework has three categories summarised below¹. A list of products in each of these categories is available at the country specific links below.

1. ESG Unconstrained - This category includes products that aim to generate financial returns and may, or may not, integrate ESG risks and opportunities into the investment process. Products in this category adopt Fidelity’s ESG Unconstrained approach to exclusions.
2. ESG Tilt - This category includes products that aim to generate financial returns and promote environmental and social characteristics through a tilt towards issuers with stronger ESG performance than the product’s benchmark or investment universe. Products in this category adopt the ESG Unconstrained exclusions and further exclusions apply such as tobacco production, thermal coal mining, thermal coal power generation and certain sovereign issuer exclusions.
3. ESG Target - This category includes products that aim to generate financial returns and have ESG or sustainability as a key investment focus or objective, such as investing in ESG leaders (issuers with higher ESG ratings), sustainable investments, a sustainable theme or meeting impact investing standards. Products in this category adopt the ESG Tilt exclusions and further exclusions apply.

This central framework is complemented where appropriate by market specific requirements including the Sustainable Finance Disclosure Regulation (SFDR) in Europe, Sustainability Disclosure Requirements (SDR) in the UK, Autorité des marchés financiers (AMF) requirements in France. In the Asia Pacific region (including Hong Kong, Singapore, and Taiwan), product specific disclosures may be included in order to meet local compliance requirements.

The following links provide a list of funds under each of our sustainable investing framework categories that are registered within each country. The funds shown on this webpage or its links may not be available in your country. Please select your country to view the funds that are available to you.  For other products, such as dedicated funds or mandates, this information is included in the related product pre-contractual information.

¹For multi-asset funds, different measures of ESG performance may apply.

Although Fidelity’s fundamental investment philosophy is to favour engagement over exclusion, we acknowledge certain types of economic activities carried out by issuers in our investment universe give rise to unacceptable or unmanageable environmental or social risks for our clients. Moreover, these risks may be difficult or impossible for issuers to mitigate. As such, Fidelity considers the exclusion of issuers from our investment universe based on specific ESG criteria and has established an Exclusion Framework that includes three levels of exclusions: 

1. ESG Unconstrained includes controversial weapons exclusions; 
2. ESG Tilt includes ESG Unconstrained exclusions and further exclusions such as tobacco production, thermal coal, norms-based exclusions as well as exclusions relating to sovereign issuers; and
3. ESG Target includes ESG Tilt exclusions and further exclusions such as additional controversial weapons, conventional weapons, semi-automatic weapons, tobacco, thermal coal, Arctic oil and gas, oil sands, and additional exclusions relating to sovereign issuers.

Further details are outlined within our Exclusion Framework. In addition, certain products are out of scope of our Exclusion Framework and investment products may apply additional exclusions beyond those described in the document. This may be due to product specific requirements, client specific requirements, local regulatory requirements or external sustainability labels for funds. The resulting exclusions may overlap. Please see the relevant investment management agreements, offering documents and relevant website for the exclusions applied to a specific product.

• Sustainable Investing Principles
• Exclusion Framework
• Engagement Policy
•   Sustainable Investing Voting Principles and Guidelines
• Supplementary information about Fidelity’s Sustainable Investing Framework
•   Fidelity’s UK SDR Framework
•   Legacy product framework
• FSIF - Real Estate Adaptations
• Climate Investing Framework
• Nature Roadmap