Fund Filters
Sustainability
Environmental policy
Sustainability policy
Limits exposure to carbon intensive industries
Resource efficiency policy or theme
Sustainable transport policy or theme
Sustainability theme or focus
Environmental damage and pollution policy
Favours cleaner, greener companies
Sustainability focus
UN Sustainable Development Goals (SDG) focus
Report against sustainability objectives
Encourage more sustainable practices through stewardship
Nature & Biodiversity
Deforestation / palm oil policy
Plastics policy / reviewing plastics
Unsustainable / illegal deforestation exclusion policy
Avoids genetically modified seeds/crop production
Biodiversity / nature policy
Climate Change & Energy
Nuclear exclusion policy
Coal, oil & / or gas majors excluded
Climate change / greenhouse gas emissions policy
Invests in clean energy / renewables
Fracking and tar sands excluded
Clean / renewable energy theme or focus
Arctic drilling exclusion
Fossil fuel reserves exclusion
Energy efficiency theme
Require net zero action plan from all/most companies
Paris aligned fund strategy
Encourage transition to low carbon through stewardship activity
Targeted Positive Investments
Invests >25% of fund in environmental/social solutions companies
Invests >50% of fund in environmental/social solutions companies
Human Rights
Human rights policy
Child labour exclusion
Responsible supply chain policy or theme
Oppressive regimes (not free or democratic) exclusion policy
Social / Employment
Social policy
Health & wellbeing policies or theme
Labour standards policy
Favours companies with strong social policies
Meeting Peoples' Basic Needs
Demographic / ageing population theme
Antimicrobial resistance policy
Ethical Values Led Exclusions
Ethical policies
Animal welfare policy
Animal testing exclusion policy
Tobacco and related product manufacturers excluded
Armaments manufacturers avoided
Alcohol production excluded
Gambling avoidance policy
Pornography avoidance policy
Animal testing - excluded except if for medical purposes
Civilian firearms production exclusion
Banking & Financials
Predatory lending exclusion
Exclude banks with significant fossil fuel investments
Governance & Management
Governance policy
Anti-bribery and corruption policy
Avoids companies with poor governance
Encourage board diversity e.g. gender
Encourage TCFD alignment for banks & insurance companies
UN sanctions exclusion
Encourage higher ESG standards through stewardship activity
Fund Governance
ESG integration strategy
ESG factors included in Assessment of Value (AoV) report
Asset Size & Metrics
Over 50% small / mid cap companies
Invests in small, mid and large cap companies
How The Fund Works
Balances company 'pros and cons' / best in sector
Strictly screened ethical fund
Positive selection bias
Negative selection bias
Norms focus
Combines norms based exclusions with other SRI criteria
Combines ESG strategy with other SRI criteria
Significant harm exclusion
SRI / ESG / Ethical policies explained on website
Assets mapped to SDGs
Impact Methodologies
Aims to generate positive impacts (or 'outcomes')
Measures positive impacts
Positive environmental impact theme
Positive social impact theme
Invests in environmental solutions companies
Invests in social solutions companies
Invests in sustainability / ESG disruptors
Described as an ‘impact investment fund’
Labels & Accreditations
Eurosif Transparency
SFDR Article 9 fund / product (EU)
Intended Clients & Product Options
Faith friendly
Intended for investors interested in sustainability
Available via an ISA (OEIC only)
Intended for clients who want to have a positive impact
Fund management company information
About The Business
ESG / SRI engagement (AFM company wide)
Responsible ownership / stewardship policy or strategy (AFM company wide)
Responsible ownership policy for non SRI funds (AFM company wide)
Responsible ownership / ESG a key differentiator (AFM company wide)
Vote all* shares at AGMs / EGMs (AFM company wide)
Specialist positive impact fund management company
Boutique / specialist fund management company
Integrates ESG factors into all / most fund research
SDG aligned aims / objectives (AFM company wide)
In-house diversity improvement programme (AFM company wide)
Resources
In-house responsible ownership / voting expertise
Employ specialist ESG / SRI / sustainability researchers
Use specialist ESG / SRI / sustainability research companies
ESG specialists on all investment desks (AFM company wide)
Collaborations & Affiliations
PRI signatory
UKSIF member
Climate Action 100+ or IIGCC member
Fund EcoMarket partner
UN Net Zero Banking Alliance member (AFM company wide)
UN Principles of Responsible Banking framework signatory-co wide
Accreditations
PRI A+ rated (AFM company wide)
B Corp certified (AFM company wide)
Engagement Approach
Regularly lead collaborative ESG initiatives (AFM company wide)
Encourage responsible corporate taxation (AFM company wide)
Company Wide Exclusions
Review(ing)carbon / fossil fuel exposure for all funds (AFM company wide)
Coal exclusion policy (group wide coal mining exclusion policy)
Controversial weapons avoidance policy (AFM company wide)
Tobacco avoidance policy (AFM company wide)
Fossil fuel exclusion policy (AFM company wide)
Climate & Net Zero Transition
Encourage carbon / greenhouse gas reduction (AFM company wide)
Working towards a ‘Net Zero’ commitment (AFM company wide)
Carbon offsetting - offset carbon as part of our net zero plan (AFM company wide)
In-house carbon / GHG reduction policy (AFM company wide)
Net Zero - have set a Net Zero target date (AFM company wide)
Voting policy includes net zero targets (AFM company wide)
Transparency
Publish full voting record (AFM company wide)
Publish responsible ownership / stewardship report (AFM company wide)
Full SRI policy information on company website
Full SRI policy information available on request
Net Zero transition plan publicly available (AFM company wide)
Process
The universe for the fund is defined using a three-step process:
1. Positive inclusion / thematic fit to Triodos transition themes
Idea generation starts with an open radar on all listed companies. Our team of in-house analysts search for companies whose products, services and business models positively contribute to one of our seven sustainable transition themes. To find the best potential investment cases, our research is a combination of in-house and externally procured inputs. Broker research is used to validate and generate ideas, but is never the sole factor in any investment analysis.
2. Negative exclusion / minimum standards
The investable universe is further condensed, applying our strict Triodos Minimum Standards to screen for companies that hinder market adoption of sustainable solutions. Once we are invested in a company, we continuously monitor compliance with our minimum standards. If a company no longer meets our minimum standards, all positions in the company need to be sold within three months.
3. ESG and impact integrated fundamental analysis
Our analysts integrate financially material and sector specific ESG factors into their long-term view on financial value drivers. The outcome of step three is a complete fundamental, strategic, and valuation analysis of the companies.
Resources, Affiliations & Corporate Strategies
The team:
Triodos Pioneer Impact Fund is managed by Triodos Investment Management. The Impact Equities & Bonds department of Triodos IM consists of 5 Fund Managers and 1 Portfolio Manager, with an average of 27 years of experience in the financial sector and 8 within the firm. The Portfolio Manager with the longest tenure has been with Triodos IM for 20 years and used to be Head of Research.
The Fund Manager of Triodos Pioneer Impact Fund is Dirk Hoozemans. Dirk joined Triodos in 2017 and has over 20 years of experience in the financial sector.
Our Investment Research team of 10 analysts has an average of 10 years of experience in the financial sector and 4 within Triodos IM. The investment analysts have both financial as well as non-financial backgrounds, and have international experience, living and working in places like Sweden, Germany, Hong Kong, Japan, Singapore, Dubai and the United States.
As part of the broader Impact Equities and Bonds team, the Fund Management and Investment Research teams are supported by the Investment Strategy team, which provides views on macro-economic developments and works on our impact and engagement strategy. This team is composed of 6 investment strategists with an average of 12 years of experience in the financial sector and 5 years within Triodos.
Research:
The Investment Research team is responsible for the assessment of portfolio candidates and monitors legislative and regulatory developments. Sustainable products and services are identified using seven sustainable transition themes, and only companies that contribute towards at least one theme are selected for investment. All companies need to meet the Triodos minimum standards. These standards apply to all activities conducted by Triodos Bank N.V. (including all Triodos Bank branches and Triodos Investment Management). The team conducts in-house integrated sustainability and financial analysis. We use internal proprietary research for company and market analysis supported by ISS-Oekom’s sustainable solutions data set and Truvalue Labs.
Stewardship:
As responsible managers of capital, we act as stewards of people and of the planet, and we believe that this responsibility begins with conscious, targeted, investment decisions. The core of stewardship through equity and bond funds is through engagement and voting to drive positive change. We engage in dialogue and various other feedback loops with companies to positively influence their business. We discuss relevant issues regarding company sustainability performance and collaborate with institutional investors to further steer sustainability-related best practices. Additionally, we believe that by exercising our shareholder voting rights, we can exert a positive influence on a company’s long-term strategy – so have a policy to vote in 100% of the possible proxy ballots. We are active participants in the public debate around sustainability and use our position to influence legislation and other policies for stricter sustainability standards.
SRI policy papers available on www.triodos-im.com:
Our partners and networks:
- We are a co-founder of the Global Impact Investing Network (GIIN)
- We are a signatory of the UN PRI
- We are a signatory member of the Carbon Disclosure Project (CDP)
- We are member of Eurosif, Eumedion, the Financial Inclusion Equity Council (FIEC), the Dutch Fund and Asset Management Association (DUFAS) and the International Corporate Governance Network (ICGN)
- We are signatory of the European SRI Transparency code Global Impact Investing Network (GIIN),
- We are ISAE3402 Type II certificated
Triodos Pioneer Impact Fund has acquired the Nordic Swan Ecolabel, the German-based FNG-Siegel, the Belgian-based Febelfin label and the UK-based 3D Investing label
Dialshifter
This fund is helping to ‘shift the dial from brown to green’ by…
...investing only in bonds that contribute to the transition towards a sustainable society and by engaging with portfolio companies to drive positive change.
The fund invests in seven themes, derived from global mega-trends, that we believe to be instrumental in shaping a sustainable future.
Companies and institutions must also comply with our strict exclusionary minimum standards, which ensure that business practices do not jeopardise market adoption of sustainable solutions. We have conversations with companies to discuss sustainability topics that are important to us as an impact investor. We explore their perspectives, policies, and business practices around our transition themes and minimum standards to understand the depth of the company’s commitments to long-term positive impact.
Our organisation is helping to support the Paris Climate Agreement and the Race to Net Zero by…
...engaging with companies and institutions on climate change to limit the impact of global warming to 1.5°C above pre-industrial levels and reach net zero around 2050. In order to achieve this goal, portfolio companies of our Impact Equities and Bonds funds should set science-based emissions targets across all relevant scopes in line with a 1.5°C trajectory. All targets should be in line with the latest climate science, for which we use criteria of the Science Based Targets initiative (SBTi) as reference.
