Exclusion Criteria

We will not invest in companies that …

• … grossly neglect fundamental labour and human rights (including key suppliers).
• … contribute significantly to destroying the environment and/or consistently breach environmental standards (including key suppliers).
• … are involved in serious cases of corruption.
• … have their headquarters or subsidiaries in locations that are on the EU list of non-cooperative countries and jurisdictions for tax purposes.
• … produce banned or otherwise particularly controversial weapons and/or their core components.
• … operate nuclear power plants, produce core components for nuclear power plants or mine uranium.
• … mine coal, extract or process oil sands, operate coal power stations or produce or use fracking technologies.
• … operate in the gambling, pornography or tobacco industries.
• … engage in the production of conventional weapons or armament goods (including their core components) as a core business activity (> 20% of total revenue).