L&G GBP Corporate Bond Screened UCITS ETF
SRI Style:
Limited Tilt or Exclusions
SDR Labelling:
Not eligible to use label (out of scope)
Product:
ETF
Fund Region:
Global
Fund Asset Type:
Fixed Interest
Launch Date:
09/12/2020
Last Amended:
Jul 2026
Dialshifter (
):
Fund/Portfolio Size:
£144.40m
(as at: 29/04/2026)
Total Screened Themed SRI Assets:
£496427.00m
(as at: 31/12/2025)
Total Responsible Ownership Assets:
£1117561.00m
(as at: 31/12/2025)
Total Assets Under Management:
£1117561.00m
(as at: 31/12/2025)
ISIN:
IE00BLRPQM83
Contact Us:
Objectives:
The L&G GBP Corporate Bond 0-5 Year Screened UCITS ETF (the "ETF") aims to track the performance of the J.P. Morgan GCI ESG Investment Grade GBP Short-Term Custom Maturity Index (the “Index”).
Sustainable, Responsible
&/or ESG Overview:
The L&G GBP ESG GBP Corporate Bond 0-5 Year UCITS ETF aims to provide exposure to the short-term Pound Sterling-denominated investment grade corporate bond market.
The Fund promotes a range of environmental and social characteristics which are met by tracking the Index. Further information on how such characteristics are met by the Fund can be found in the Fund Supplement.
The Index tracks Sterling-denominated investment grade corporate bonds maturing within the next 3 months to 5 years, across developed and emerging market issuers. The index applies an ESG scoring and screening methodology to tilt toward issuers ranked higher on ESG criteria and green bond issues, and to underweight and exclude issuers that rank lower.
Primary fund last amended:
Jul 2026
Information directly from fund manager.
Fund Filters
Sustainability - General
Has policies that consider (environmental and social) sustainability issues. Strategies vary but are likely to consider environmental issues like climate change, carbon emissions, biodiversity loss, resource management, environmental impacts; and social issues like equal opportunities, human rights, labour standards, diversity and adherence to internationally recognised codes. See individual entry information.
Use the UN Global Compact to inform or help direct where they can or cannot invest. Will typically not invest in companies with significant breaches (low standards) - strategies vary. (The UNGC covers a wide range of issues - search 'UNGC'). See https://unglobalcompact.org/
Environmental - General
Options that limit or 'reduce' their exposure to carbon intensive industries (ie sectors which are major contributors to climate change). Strategies vary.
Climate Change & Energy
Avoid investment in major coal, oil and/or gas (extraction) companies. Strategies vary.
Avoid companies involved in fracking and tar sands - which are widely regarded as controversial methods of oil and gas extraction. Strategies vary.
Ethical Values Led Exclusions
Companies are excluded if they are involved in any aspect of the production chain for tobacco products, including cigarettes, vaping, e-cigarettes, chewing tobacco and cigars.
Companies are excluded if they make more than 5% of their revenue from the manufacture, sale or distribution of tobacco products including cigarettes, vaping, e-cigarettes, chewing tobacco and cigars.
Excludes companies which make controversial weapons such as landmines, cluster munitions and chemical weapons.
Avoids companies that manufacture weapons intended specifically for military use. Strategies vary - may or may not include non-strategic military products.
Has a written civilian firearms exclusion policy - meaning that they will not invest in companies that make (or perhaps also sell) handguns made for non-military users.
Human Rights
Has policies relating to human rights issues. Typically require companies to demonstrate higher standards, although some managers work to encourage improvements. Investee companies are often judged against internationally agreed norms or standards. Strategies vary.
Banking & Financials
May invest in insurance companies.
Governance & Management
Avoids investing in companies with poor governance practices.(e.g. board structure, management practices etc.) Views may however vary on what counts as 'poor' practices - and funds may not immediately divest as they may prefer to work to encourage higher standards.
Exclude companies that are subject to United Nations sanctions. See eg https://main.un.org/securitycouncil/en/content/un-sc-consolidated-list
Aim to encourage higher ESG standards through responsible ownership / stewardship / engagement /voting activity
Impact Methodologies
Aims to deliver positive environmental and or social impacts (real world benefits) through its engagement with investee assets
How The Fund/Portfolio Works
Has principle 'ethical approach' to avoid companies by using negative screening criteria. Strategies vary.
Invest more heavily in assets which have higher ESG ratings/standards or scores and less heavily in companies with lower ESG ratings. Where this is central to the strategy you should expect assets in most sectors. Strategies vary.
Only uses an investment index to direct where they can invest. Fund strategies and indices vary.
Aims to avoid companies that do significant harm. This originates from the EU’s sustainable finance ‘DNSH’ (do no significant harm) work, which is not necessarily used by UK investors.
Publish explanations of their ethical, social and/or environmental policies online (i.e. investment decision making strategies/ buy/sell &/or asset management strategies).
Has different risk options for the same investment strategy
Unscreened Assets & Cash
Only invests in cash to aid the practical management (buying and selling) of assets and so do not use additional financial instruments.
Intended Clients & Product Options
Designed to meet the needs of individual investors with an interest in sustainability issues.
Available via a tax efficient ISA product wrapper.
Labels & Accreditations
Find options classified under Article 8 of the EU’s SFDR (Sustainable Finance Disclosure Requirements). Article 8 of the SFDR is a set of requirements that apply to financial products that 'promote' environmental or social characteristics together with high governance. These rules do not currently apply to UK products so many managers may leave this field blank.
A voluntary corporate culture standard for investment managers, see https://www.investorsact.com/ - City Hive
Fund Management Company Information
About The Business
Finds fund / asset management companies that have a published company wide stewardship, engagement and / or responsible ownership policy or strategy that covers all investments. Stewardship typically involves encouraging higher ESG standards through voting and dialogue.
Find fund / asset management companies that actively encourage higher 'environmental, social and governance' and / or 'sustainable and responsible investment' practices across investee companies - typically where the aim is to encourage positive change that is aligned with the best interests of investors. Strategies vary. See additional information and options.
Find fund / asset managers that vote all* the shares they own at Annual General Meetings and Extraordinary General Meetings. A commitment to voting shares is a key indicator of 'responsible share ownership' demonstrating their support for or disagreement with management policy. (*situations can legitimately, occasionally occur where voting proves impossible, but in principle all shares should be voted.)
Find fund / asset managers that consider responsible ownership and ESG to be a key differentiator for their business.
Find fund / asset management companies that take sustainability criteria into account when selecting and/or managing all of their property / real estate investments.
The leadership team of this fund / asset manager have performance targets linked to environmental goals.
Find options run by managers that apply Responsible ownership or 'Stewardship' policies to all or most of their investment assets. This means active involvement (e.g. voting, dialogue) with the companies across all or most funds, products and services.
Find fund / asset management companies that consider environmental, social and governance (ESG) issues when deciding whether or not to invest in a company for all / almost all of their funds and other assets. This is increasingly seen as part of sound risk management.
Finds organisations / fund managers that have an in-house (company wide) diversity improvement programme - meaning that they are working to ensure that within their own businesses they employ people from diverse backgrounds - often typically focused on ethnicity and/or sex.
Find fund / asset management companies that encourage the companies they invest in to have strong diversity, race, gender and other equality policies across all assets held, not simply screened or themed SRI/ESG funds. (ie Asset Management company wide).
This fund / asset management company invests in companies which have recently listed on a stock exchange (which is important as it can help grow new businesses).
Collaborations & Affiliations
Find fund / asset management companies that have signed up to the UN backed 'Principles of Responsible Investment'.
A member of the Taskforce for Nature Related Financial Disclosures group which aims to aid risk management and shift money towards nature-positive outcomes.
Fund management entity is a member of the Investment Association https://www.theia.org/
Resources
Find fund / asset management companies that employ people to steer and support fund managers in voting shares at company AGM's and EGMs in ways that are consistent with encouraging higher ESG/sustainability standards.
Find a fund / asset management company that directly employs specialist ESG/SRI/sustainability researchers or analysts. This allows asset managers to discuss environmental, social and governance risks and opportunities directly with companies.
Find fund / asset management companies that makes use of expert external research companies. This can help deliver specialist expertise and means resources are pooled with other investors.
Finds organisations / fund managers that have one or more ESG/sustainability experts on all investment teams or 'desks' (all asset types)
Accreditations
Find fund / asset managers that are signatories to the FRC UK Stewardship Code, which sets out a framework for constructive investor / investee relations where managers are encouraged to behave like responsible, typically longer term 'company owners'.
Engagement Approach
Find fund / asset management companies that regularly initiate or run industry wide (collaborative) investor projects aimed at raising environmental, social and governance standards amongst investee companies.
Fund / asset manager has stewardship /responsible ownership strategy that is focused on addressing climate change with investee assets.
Fund / asset manager has a stewardship /responsible ownership strategy that involves working with fossil fuel companies on climate change related issues. See fund manager website for details.
Fund / asset manager has stewardship /responsible ownership strategy with involves encouraging investee asset to reduce plastic waste and pollution.
Fund / asset manager has a stewardship / responsible ownership policy that means they are working to encourage more responsible mining practices - where environmental and social issues are properly dealt with by the companies they invest in.
The fund / asset manager has a responsible ownership / stewardship strategy that focuses on biodiversity and nature issues relating to the assets they invest the aim of which will be to reduce harm and or deliver improvement. Strategies vary. https://tnfd.global
Fund / asset manager has a responsible ownership / stewardship strategy which means they are working to encourage the shift to more sustainable business practices in ways that respect and are sensitive to social issues and the impact change has on people effected by the changes that are taking place. https://www.transitionpathwayinitiative.org/ https://transitiontaskforce.net/
Fund / asset manager has responsible ownership / stewardship strategy in place which aims to address human rights issues in investee companies (and potentially their suppliers) with the aim of raising standards
Fund / asset manager has responsible ownership / stewardship strategy in place that aims to improve labour standards for the benefit of employees in investee companies (and potentially their suppliers)
Fund / asset management company has a stewardship strategy in place which involves working to raise diversity, equality and inclusion standards across investee assets
Fund / asset manager is working with the assets they hold to help stamp out modern slavery - where direct or indirect company employees are exploited for business benefits.
Fund / asset managers have stewardship strategies in place that focus on improving governance standards across investee assets
Company Wide Exclusions
Find fund / asset management companies (not funds) that avoid investment in 'controversial weapons' across all of their funds and other investment vehicles.
Find funds / asset managers that are reviewing, or have reviewed, their exposure to carbon intensive industries including (but not only) mining, oil and gas companies. (Typically with reference to climate change.)
This fund / asset manager excludes direct investment in the coal mining industry. Managers ability to do this may depend on the geographic regions in which they invest.
Climate & Net Zero Transition
Fund / asset management organisations that have pledged to reduce their greenhouse gas emissions to ‘net zero’. Strategies vary - this area is changing rapidly.
This fund / asset management company has set a date by which they plan to achieve net zero greenhouse gas / CO2e emissions.
Find fund / asset management companies that are working with the companies they invest in to encourage reductions in carbon dioxide and other greenhouse gas emissions.
Finds organisations / fund managers that have a company wide carbon transition plan - meaning that they have plotted a path to how they will move away from activities that produce or use carbon based energy sources (that emit greenhouse gases) towards clean, alternative, renewable energy sources.
This fund / asset management company plans to achieve net zero greenhouse gas (CO2e) emissions by reducing their emissions. Calculations and scope vary.
Find fund / asset management companies that are working to reduce their own (fund management company) carbon/greenhouse gas emissions.
Finds organisations / fund management companies that are in the process of working out how to make a ‘net zero commitment’ - meaning that when that is finalised they will have started the process of reducing their total greenhouse gas emissions to 'zero'.
See https://sciencebasedtargets.org/
Transparency
Find fund / asset management companies that publish a report detailing their responsible investment ownership - also known as 'Stewardship' - activity.
Find fund / asset management companies that publish information about their sustainable and responsible investment strategies on their company website.
Find fund / asset management companies that will supply information about their sustainable and responsible investment activity on request.
Fund / asset management companies that publish a full record of how they vote their shares at AGMs (annual general meetings) and EGMs (extraordinary general meetings). Voting strategies have an important role to play encouraging higher environmental, social and governance standards.
This fund / asset management company has published a plan that explains how they are going to achieve net zero greenhouse gas / CO2e emissions.
Find fund / asset management companies that have supplied Dialshifter information. See Dialshifter tab within record for more information.
Sustainable, Responsible &/or ESG Policy:
The L&G GBP Corporate Bond 0-5 Year Screened UCITS ETF (the "ETF") aims to track the performance of the J.P. Morgan GCI ESG Investment Grade GBP Short-Term Custom Maturity Index (the “Index”).
The L&G GBP Corporate Bond 0-5 Year Screened UCITS ETF aims to provide exposure to the short-term Pound Sterling denominated investment grade corporate bond market.
The Fund will invest more in companies with higher ESG scores and will also invest in companies with lower ESG scores, but by a reduced amount.
The Fund promotes a range of environmental and social characteristics which are met by tracking the Index. Further information on how such characteristics are met by the Fund can be found in the Fund Supplement.
The Index measures the performance of certain Pound Sterling denominated investment grade corporate bonds, maturing within the next 3 months to 5 years and issued by emerging and developed markets issuers. The Index is rebalanced on a monthly basis, on the last UK business day of the month. The Index includes investment grade bonds with a minimum amount outstanding of at least £300 million issued by issuers with a total RISK AND REWARD PROFILE amount outstanding of at least £750 million. The Index is designed to provide exposure to securities of issuers that satisfy certain environmental, social and governance ("ESG") requirements, as defined by the Index provider. An ESG scoring and screening methodology is applied by the Index to tilt towards issuers ranked higher on ESG criteria and green bond issues, and to underweight and exclude issuers that rank lower. The Index excludes issuers with revenue from the following industries: (a) thermal coal; (b) tobacco; and (c) weapons.
For more information on the index methodology please refer to the link : J.P. Morgan Global Credit Index (GCI) ESG Investment Grade GBP Short-term Maturity Index: Index Methodology and Profile
The Fund considers principal adverse impacts on sustainability factors and LGIM has identified a subset of the adverse sustainability indicators that are relevant to the Fund’s investments. The Fund considers principal adverse impacts, identified using the below listed sustainability indicators, through the implementation of the Fund’s ESG investment strategy.
- PAI 1: GHG emissions
- PAI 2: Carbon footprint
- PAI 3: GHG intensity of companies
- PAI 4: Exposure to fossil fuel companies
- PAI 5: Share of non-renewable energy
- PAI 7: Activities negatively affecting biodiversity-sensitive areas
- PAI 8: Emissions to water
- PAI 10: Companies violating UNGC/OECD
- PAI 14: Controversial weapons
Process:
The L&G GBP Corporate Bond Screened UCITS ETF (the "ETF") aims to track the performance of the J.P. Morgan GCI ESG Investment Grade GBP Custom Maturity Index (the “Index”).
The Index tracks Sterling-denominated investment grade corporate bonds across developed and emerging market issuers. The index applies an ESG scoring and screening methodology to tilt toward issuers ranked higher on ESG criteria and green bond issues, and to underweight and exclude issuers that rank lower.
Resources, Affiliations & Corporate Strategies:
Our dedicated RI subject matter experts are embedded across our asset management division. Our personnel has diverse experience and expertise across the spheres of stewardship and responsible investment. The result is a strong and cohesive set of professionals with complementary skills and experience.
As of 31 December 2025, there are 60 employees with roles dedicated to ESG, within the Asset Management division, some of which are outlined in more detail below.
Responsible Investment and Investment Stewardship team
- Amelia Tan was appointed Head of Responsible Investment & Stewardship for Legal and General’s Asset Management division in January 2025, having joined in 2022 as Head of Responsible Investment Strategy. In this role, she is responsible for engagement with publicly listed investee companies globally across all of the firm’s assets under management as well as responsible investment processes and products of the public market’s investment teams. She coordinates the strategy for responsible investing in the Asset Management division and is responsible for regulatory and policy engagement regarding environmental, social, governance and responsible investment matters.
- The Investment Stewardship team is responsible for developing and carrying out L&G’s investment stewardship and active ownership activities globally, with team members based in London, Singapore, Tokyo and New York. The team comprises subject matter experts across our global investment stewardship themes and is organised in a matrix of thematic and sector coverage. The team is co-led by Maria Ortino and Trista Chen, who report directly to Amelia Tan.
- The Responsible Investing Capabilities team, led by Russell Ramagge and comprising two further colleagues, works with investment teams to integrate responsible investing insights into investment process across asset classes and investment styles. Additionally, the team also looks to innovate on responsible investing products and solutions, with the focus on positioning and ensuring that we are market-leading, credible and consistent.
Climate Solutions team
- Nick Stansbury, Head of Climate Solutions, leads our energy transition approach and is one of our most prominent spokespeople on this topic.
- The Climate Solutions team, which has a total of eight team members, has created a bespoke, detailed and investor-focused model to facilitate construction of fully independent energy scenarios. The framework uses in excess of 10 million data variables to model the energy system. The model, Destination@Risk, is now helping to inform our long-term investment decisions and develop dynamic pathways for the energy system.
- The Climate Solutions team also support the development of L&G’s climate capabilities to be used across the firm by the individual investment teams, including the Global Index and ETF team. Recent areas of focus include the development of L&G’s Net Zero Investment Framework 2.0, to support the analysis of companies based on their net zero alignment using indicators such as net zero targets and temperature alignment, alongside our engagement-led investing approach.
Private Markets
- L&G’s Private Markets teamhas 12 dedicated ESG experts working across the range of private credit and real estate strategies that we manage. This team is led Shuen Chan, Head of Responsible Investment and Sustainability.
The above teams work centrally across our investment platform to ensure we have a dedicated function for responsible investing activities. For example, our Investment Stewardship team acts as a universal owner on behalf of all our clients, seeking to address key macro and systemic risks, with the aim of tackling market issues and accelerating progress against complex, global sustainability challenges.
Global Research and Engagement Group (GREGs)
Further to those with roles dedicated to ESG, our Global Research and Engagement Groups (GREGs) bring together representatives from the Investment and Investment Stewardship teams across regions and asset classes. The GREGs enable L&G to connect top-down macro and thematic views with bottom-up analysis of corporate and sector fundamentals to understand the materiality of sustainability risks and opportunities and prioritise them accordingly. Combining the capabilities of the Investment and Investment Stewardship teams also enables L&G to scale and coordinate our engagement efforts with companies at board and executive management levels, across all asset class and investment styles. C.40 research analysts contribute to our GREGs, researching into structural industry changes and risks, and identifying key themes and engagement topics across nine sectors.
Our Responsible Investing Governance and Decision-Making Forums has an extensive governance structure relating to RI throughout the Asset Management division. This is a mixture of informal working groups and formal forums. Please see below the chart for details.
We believe in collaboration and, where legally permissible, work with peers, industry groups, non-governmental organisations (NGOs), academia, and civil society. We look forward to continuing our engagement with a broad range of third parties.
Please see Page 26 of the Active Ownership report for details on list of related affiliations and memberships.
SDR Labelling:
Not eligible to use label (out of scope)
Fund Holdings
Voting Record
Disclaimer
This communication is not a financial promotion and is intended for Professional Clients, Qualified Investors, companies, and pension trustees and should not be relied upon by retail customers, pension scheme members, employees, or any other persons.
This document has been prepared by Legal & General Investment Management Limited and/or its affiliates (“LGIM”- or “L&G,” “we” or “us”) . The information in this document is the property and/or confidential information of L&G and may not be reproduced in whole or in part or distributed or disclosed by you to any other person without the prior written consent of L&G. Not for distribution to any person resident in any jurisdiction where such distribution would be contrary to local law or regulation.
No party shall have any right of action against L&G in relation to the accuracy or completeness of the information in this document. The information and views expressed in this document are believed to be accurate and complete as at the date of publication, but they should not be relied upon and may be subject to change without notice. We are under no obligation to update or amend the information in this document. Where this document contains third-party data, we cannot guarantee the accuracy, completeness or reliability of such data and we accept no responsibility or liability whatsoever in respect of such data.
No part of this document should be construed as providing investment advice, and L&G does not accept any liability for any decisions based on this document.
Legal & General Investment Management Ltd is registered in England and Wales No. 02091894. Registered office: One Coleman Street, London EC2R 5AA. Authorised and regulated by the Financial Conduct Authority in the UK.
In the European Economic Area, this document is issued by LGIM Managers (Europe) Limited, authorised and regulated by the Central Bank of Ireland as a UCITS management company (pursuant to European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (as amended) and as an alternative investment fund manager (pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (as amended). LGIM Managers (Europe) Limited’s registered office is at 70 Sir John Rogerson’s Quay, Dublin, 2, Ireland and it is registered with the Irish Companies Registration Office under company no. 609677.
LGIM Managers (Europe) Limited operates a branch network in the European Economic Area, which is subject to supervision by the Central Bank of Ireland. In Italy, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Commissione Nazionale per le società e la Borsa (“CONSOB”) and is registered with Banca d’Italia (no. 23978.0) with registered office at Piazza della Repubblica 3, 20121 - Milano (Companies’ Register no. MI - 2557936). In Sweden, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Swedish Financial Supervisory Authority (“SFSA”). In Germany, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the German Federal Financial Supervisory Authority (“BaFin”). In the Netherlands, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Dutch Authority for the Financial Markets (“AFM“) and it is included in the register held by the AFM and registered with the trade register of the Chamber of Commerce under number 74481231. Details about the full extent of our relevant authorisations and permissions are available from us upon request.
| Fund Name | SRI Style | SDR Labelling | Product | Region | Asset Type | Launch Date | Last Amended |
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|---|---|---|---|---|---|---|---|---|
L&G GBP Corporate Bond Screened UCITS ETF |
Limited Tilt or Exclusions | Not eligible to use label (out of scope) | ETF | Global | Fixed Interest | 09/12/2020 | Jul 2026 | |
ObjectivesThe L&G GBP Corporate Bond 0-5 Year Screened UCITS ETF (the "ETF") aims to track the performance of the J.P. Morgan GCI ESG Investment Grade GBP Short-Term Custom Maturity Index (the “Index”).
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Fund/Portfolio Size: £144.40m (as at: 29/04/2026) Total Screened Themed SRI Assets: £496427.00m (as at: 31/12/2025) Total Responsible Ownership Assets: £1117561.00m (as at: 31/12/2025) Total Assets Under Management: £1117561.00m (as at: 31/12/2025) ISIN: IE00BLRPQM83 Contact Us: fundsales@lgim.com |
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Sustainable, Responsible &/or ESG OverviewThe L&G GBP ESG GBP Corporate Bond 0-5 Year UCITS ETF aims to provide exposure to the short-term Pound Sterling-denominated investment grade corporate bond market. The Fund promotes a range of environmental and social characteristics which are met by tracking the Index. Further information on how such characteristics are met by the Fund can be found in the Fund Supplement. The Index tracks Sterling-denominated investment grade corporate bonds maturing within the next 3 months to 5 years, across developed and emerging market issuers. The index applies an ESG scoring and screening methodology to tilt toward issuers ranked higher on ESG criteria and green bond issues, and to underweight and exclude issuers that rank lower. |
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Primary fund last amended: Jul 2026 |
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Information received directly from Fund Manager |
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Fund FiltersSustainability - General
Sustainability policy
Has policies that consider (environmental and social) sustainability issues. Strategies vary but are likely to consider environmental issues like climate change, carbon emissions, biodiversity loss, resource management, environmental impacts; and social issues like equal opportunities, human rights, labour standards, diversity and adherence to internationally recognised codes. See individual entry information.
UN Global Compact linked exclusion policy
Use the UN Global Compact to inform or help direct where they can or cannot invest. Will typically not invest in companies with significant breaches (low standards) - strategies vary. (The UNGC covers a wide range of issues - search 'UNGC'). See https://unglobalcompact.org/ Environmental - General
Limits exposure to carbon intensive industries
Options that limit or 'reduce' their exposure to carbon intensive industries (ie sectors which are major contributors to climate change). Strategies vary. Climate Change & Energy
Coal, oil & / or gas majors excluded
Avoid investment in major coal, oil and/or gas (extraction) companies. Strategies vary.
Fracking & tar sands excluded
Avoid companies involved in fracking and tar sands - which are widely regarded as controversial methods of oil and gas extraction. Strategies vary. Ethical Values Led Exclusions
Tobacco & related product manufacturers excluded
Companies are excluded if they are involved in any aspect of the production chain for tobacco products, including cigarettes, vaping, e-cigarettes, chewing tobacco and cigars.
Tobacco & related products - avoid where revenue > 5%
Companies are excluded if they make more than 5% of their revenue from the manufacture, sale or distribution of tobacco products including cigarettes, vaping, e-cigarettes, chewing tobacco and cigars.
Controversial weapons exclusion
Excludes companies which make controversial weapons such as landmines, cluster munitions and chemical weapons.
Armaments manufacturers avoided
Avoids companies that manufacture weapons intended specifically for military use. Strategies vary - may or may not include non-strategic military products.
Civilian firearms production exclusion
Has a written civilian firearms exclusion policy - meaning that they will not invest in companies that make (or perhaps also sell) handguns made for non-military users. Human Rights
Human rights policy
Has policies relating to human rights issues. Typically require companies to demonstrate higher standards, although some managers work to encourage improvements. Investee companies are often judged against internationally agreed norms or standards. Strategies vary. Banking & Financials
Invests in insurers
May invest in insurance companies. Governance & Management
Avoids companies with poor governance
Avoids investing in companies with poor governance practices.(e.g. board structure, management practices etc.) Views may however vary on what counts as 'poor' practices - and funds may not immediately divest as they may prefer to work to encourage higher standards.
UN sanctions exclusion
Exclude companies that are subject to United Nations sanctions. See eg https://main.un.org/securitycouncil/en/content/un-sc-consolidated-list
Encourage higher ESG standards through stewardship activity
Aim to encourage higher ESG standards through responsible ownership / stewardship / engagement /voting activity Impact Methodologies
Aim to deliver positive impacts through engagement
Aims to deliver positive environmental and or social impacts (real world benefits) through its engagement with investee assets How The Fund/Portfolio Works
Negative selection bias
Has principle 'ethical approach' to avoid companies by using negative screening criteria. Strategies vary.
ESG weighted / tilt
Invest more heavily in assets which have higher ESG ratings/standards or scores and less heavily in companies with lower ESG ratings. Where this is central to the strategy you should expect assets in most sectors. Strategies vary.
Passive / index driven strategy
Only uses an investment index to direct where they can invest. Fund strategies and indices vary.
Significant harm exclusion
Aims to avoid companies that do significant harm. This originates from the EU’s sustainable finance ‘DNSH’ (do no significant harm) work, which is not necessarily used by UK investors.
SRI / ESG / Ethical policies explained on website
Publish explanations of their ethical, social and/or environmental policies online (i.e. investment decision making strategies/ buy/sell &/or asset management strategies).
Different risk options of this strategy are available
Has different risk options for the same investment strategy Unscreened Assets & Cash
No ‘diversifiers’ used other than cash
Only invests in cash to aid the practical management (buying and selling) of assets and so do not use additional financial instruments. Intended Clients & Product Options
Intended for clients interested in sustainability
Designed to meet the needs of individual investors with an interest in sustainability issues.
Available via an ISA (OEIC only)
Available via a tax efficient ISA product wrapper. Labels & Accreditations
SFDR Article 8 fund / product (EU)
Find options classified under Article 8 of the EU’s SFDR (Sustainable Finance Disclosure Requirements). Article 8 of the SFDR is a set of requirements that apply to financial products that 'promote' environmental or social characteristics together with high governance. These rules do not currently apply to UK products so many managers may leave this field blank.
ACT signatory
A voluntary corporate culture standard for investment managers, see https://www.investorsact.com/ - City Hive Fund Management Company InformationAbout The Business
Responsible ownership / stewardship policy or strategy (AFM companywide)
Finds fund / asset management companies that have a published company wide stewardship, engagement and / or responsible ownership policy or strategy that covers all investments. Stewardship typically involves encouraging higher ESG standards through voting and dialogue.
ESG / SRI engagement (AFM companywide)
Find fund / asset management companies that actively encourage higher 'environmental, social and governance' and / or 'sustainable and responsible investment' practices across investee companies - typically where the aim is to encourage positive change that is aligned with the best interests of investors. Strategies vary. See additional information and options.
Vote all* shares at AGMs / EGMs (AFM companywide)
Find fund / asset managers that vote all* the shares they own at Annual General Meetings and Extraordinary General Meetings. A commitment to voting shares is a key indicator of 'responsible share ownership' demonstrating their support for or disagreement with management policy. (*situations can legitimately, occasionally occur where voting proves impossible, but in principle all shares should be voted.)
Responsible ownership / ESG a key differentiator (AFM companywide)
Find fund / asset managers that consider responsible ownership and ESG to be a key differentiator for their business.
Sustainable property strategy (AFM companywide)
Find fund / asset management companies that take sustainability criteria into account when selecting and/or managing all of their property / real estate investments.
Senior management KPIs include environmental goals (AFM companywide)
The leadership team of this fund / asset manager have performance targets linked to environmental goals.
Responsible ownership policy for non SRI / sustainable options (AFM companywide)
Find options run by managers that apply Responsible ownership or 'Stewardship' policies to all or most of their investment assets. This means active involvement (e.g. voting, dialogue) with the companies across all or most funds, products and services.
Integrates ESG factors into all / most research (AFM companywide)
Find fund / asset management companies that consider environmental, social and governance (ESG) issues when deciding whether or not to invest in a company for all / almost all of their funds and other assets. This is increasingly seen as part of sound risk management.
In-house diversity improvement programme (AFM companywide)
Finds organisations / fund managers that have an in-house (company wide) diversity improvement programme - meaning that they are working to ensure that within their own businesses they employ people from diverse backgrounds - often typically focused on ethnicity and/or sex.
Diversity, equality & inclusion engagement policy (AFM companywide)
Find fund / asset management companies that encourage the companies they invest in to have strong diversity, race, gender and other equality policies across all assets held, not simply screened or themed SRI/ESG funds. (ie Asset Management company wide).
Invests in newly listed companies (AFM companywide)
This fund / asset management company invests in companies which have recently listed on a stock exchange (which is important as it can help grow new businesses). Collaborations & Affiliations
PRI signatory
Find fund / asset management companies that have signed up to the UN backed 'Principles of Responsible Investment'.
TNFD forum member (AFM companywide)
A member of the Taskforce for Nature Related Financial Disclosures group which aims to aid risk management and shift money towards nature-positive outcomes.
Investment Association (IA) member
Fund management entity is a member of the Investment Association https://www.theia.org/ Resources
In-house responsible ownership / voting expertise
Find fund / asset management companies that employ people to steer and support fund managers in voting shares at company AGM's and EGMs in ways that are consistent with encouraging higher ESG/sustainability standards.
Employ specialist ESG / SRI / sustainability researchers
Find a fund / asset management company that directly employs specialist ESG/SRI/sustainability researchers or analysts. This allows asset managers to discuss environmental, social and governance risks and opportunities directly with companies.
Use specialist ESG / SRI / sustainability research companies
Find fund / asset management companies that makes use of expert external research companies. This can help deliver specialist expertise and means resources are pooled with other investors.
ESG specialists on all investment desks (AFM companywide)
Finds organisations / fund managers that have one or more ESG/sustainability experts on all investment teams or 'desks' (all asset types) Accreditations
UK Stewardship Code signatory (AFM companywide)
Find fund / asset managers that are signatories to the FRC UK Stewardship Code, which sets out a framework for constructive investor / investee relations where managers are encouraged to behave like responsible, typically longer term 'company owners'. Engagement Approach
Regularly lead collaborative ESG initiatives (AFM companywide)
Find fund / asset management companies that regularly initiate or run industry wide (collaborative) investor projects aimed at raising environmental, social and governance standards amongst investee companies.
Engaging on climate change issues
Fund / asset manager has stewardship /responsible ownership strategy that is focused on addressing climate change with investee assets.
Engaging with fossil fuel companies on climate change
Fund / asset manager has a stewardship /responsible ownership strategy that involves working with fossil fuel companies on climate change related issues. See fund manager website for details.
Engaging to reduce plastics pollution / waste
Fund / asset manager has stewardship /responsible ownership strategy with involves encouraging investee asset to reduce plastic waste and pollution.
Engaging to encourage responsible mining practices
Fund / asset manager has a stewardship / responsible ownership policy that means they are working to encourage more responsible mining practices - where environmental and social issues are properly dealt with by the companies they invest in.
Engaging on biodiversity / nature issues
The fund / asset manager has a responsible ownership / stewardship strategy that focuses on biodiversity and nature issues relating to the assets they invest the aim of which will be to reduce harm and or deliver improvement. Strategies vary. https://tnfd.global
Engaging to encourage a Just Transition
Fund / asset manager has a responsible ownership / stewardship strategy which means they are working to encourage the shift to more sustainable business practices in ways that respect and are sensitive to social issues and the impact change has on people effected by the changes that are taking place. https://www.transitionpathwayinitiative.org/ https://transitiontaskforce.net/
Engaging on human rights issues
Fund / asset manager has responsible ownership / stewardship strategy in place which aims to address human rights issues in investee companies (and potentially their suppliers) with the aim of raising standards
Engaging on labour / employment issues
Fund / asset manager has responsible ownership / stewardship strategy in place that aims to improve labour standards for the benefit of employees in investee companies (and potentially their suppliers)
Engaging on diversity, equality & / or inclusion issues
Fund / asset management company has a stewardship strategy in place which involves working to raise diversity, equality and inclusion standards across investee assets
Engaging to stop modern slavery
Fund / asset manager is working with the assets they hold to help stamp out modern slavery - where direct or indirect company employees are exploited for business benefits.
Engaging on governance issues
Fund / asset managers have stewardship strategies in place that focus on improving governance standards across investee assets Company Wide Exclusions
Controversial weapons avoidance policy (AFM companywide)
Find fund / asset management companies (not funds) that avoid investment in 'controversial weapons' across all of their funds and other investment vehicles.
Review(ing) carbon / fossil fuel exposure for all funds (AFM companywide)
Find funds / asset managers that are reviewing, or have reviewed, their exposure to carbon intensive industries including (but not only) mining, oil and gas companies. (Typically with reference to climate change.)
Coal exclusion policy (group wide coal mining exclusion policy)
This fund / asset manager excludes direct investment in the coal mining industry. Managers ability to do this may depend on the geographic regions in which they invest. Climate & Net Zero Transition
Net Zero commitment (AFM companywide)
Fund / asset management organisations that have pledged to reduce their greenhouse gas emissions to ‘net zero’. Strategies vary - this area is changing rapidly.
Net Zero - have set a Net Zero target date (AFM companywide)
This fund / asset management company has set a date by which they plan to achieve net zero greenhouse gas / CO2e emissions.
Encourage carbon / greenhouse gas reduction (AFM companywide)
Find fund / asset management companies that are working with the companies they invest in to encourage reductions in carbon dioxide and other greenhouse gas emissions.
Carbon transition plan published (AFM companywide)
Finds organisations / fund managers that have a company wide carbon transition plan - meaning that they have plotted a path to how they will move away from activities that produce or use carbon based energy sources (that emit greenhouse gases) towards clean, alternative, renewable energy sources.
Carbon offsetting – do NOT offset carbon as part of net zero plan (AFM companywide)
This fund / asset management company plans to achieve net zero greenhouse gas (CO2e) emissions by reducing their emissions. Calculations and scope vary.
In-house carbon / GHG reduction policy (AFM companywide)
Find fund / asset management companies that are working to reduce their own (fund management company) carbon/greenhouse gas emissions.
Working towards a ‘Net Zero’ commitment (AFM companywide)
Finds organisations / fund management companies that are in the process of working out how to make a ‘net zero commitment’ - meaning that when that is finalised they will have started the process of reducing their total greenhouse gas emissions to 'zero'.
Committed to SBTi / Science Based Targets Initiative
See https://sciencebasedtargets.org/ Transparency
Publish responsible ownership / stewardship report (AFM companywide)
Find fund / asset management companies that publish a report detailing their responsible investment ownership - also known as 'Stewardship' - activity.
Full stewardship / responsible ownership policy information on company website
Find fund / asset management companies that publish information about their sustainable and responsible investment strategies on their company website.
Full stewardship / responsible ownership policy information available on request
Find fund / asset management companies that will supply information about their sustainable and responsible investment activity on request.
Publish full voting record (AFM companywide)
Fund / asset management companies that publish a full record of how they vote their shares at AGMs (annual general meetings) and EGMs (extraordinary general meetings). Voting strategies have an important role to play encouraging higher environmental, social and governance standards.
Net Zero transition plan publicly available (AFM companywide)
This fund / asset management company has published a plan that explains how they are going to achieve net zero greenhouse gas / CO2e emissions.
Dialshifter statement
Find fund / asset management companies that have supplied Dialshifter information. See Dialshifter tab within record for more information. Sustainable, Responsible &/or ESG Policy:The L&G GBP Corporate Bond 0-5 Year Screened UCITS ETF (the "ETF") aims to track the performance of the J.P. Morgan GCI ESG Investment Grade GBP Short-Term Custom Maturity Index (the “Index”). The L&G GBP Corporate Bond 0-5 Year Screened UCITS ETF aims to provide exposure to the short-term Pound Sterling denominated investment grade corporate bond market. The Fund will invest more in companies with higher ESG scores and will also invest in companies with lower ESG scores, but by a reduced amount. The Fund promotes a range of environmental and social characteristics which are met by tracking the Index. Further information on how such characteristics are met by the Fund can be found in the Fund Supplement. The Index measures the performance of certain Pound Sterling denominated investment grade corporate bonds, maturing within the next 3 months to 5 years and issued by emerging and developed markets issuers. The Index is rebalanced on a monthly basis, on the last UK business day of the month. The Index includes investment grade bonds with a minimum amount outstanding of at least £300 million issued by issuers with a total RISK AND REWARD PROFILE amount outstanding of at least £750 million. The Index is designed to provide exposure to securities of issuers that satisfy certain environmental, social and governance ("ESG") requirements, as defined by the Index provider. An ESG scoring and screening methodology is applied by the Index to tilt towards issuers ranked higher on ESG criteria and green bond issues, and to underweight and exclude issuers that rank lower. The Index excludes issuers with revenue from the following industries: (a) thermal coal; (b) tobacco; and (c) weapons. For more information on the index methodology please refer to the link : J.P. Morgan Global Credit Index (GCI) ESG Investment Grade GBP Short-term Maturity Index: Index Methodology and Profile The Fund considers principal adverse impacts on sustainability factors and LGIM has identified a subset of the adverse sustainability indicators that are relevant to the Fund’s investments. The Fund considers principal adverse impacts, identified using the below listed sustainability indicators, through the implementation of the Fund’s ESG investment strategy.
Process:The L&G GBP Corporate Bond Screened UCITS ETF (the "ETF") aims to track the performance of the J.P. Morgan GCI ESG Investment Grade GBP Custom Maturity Index (the “Index”). The Index tracks Sterling-denominated investment grade corporate bonds across developed and emerging market issuers. The index applies an ESG scoring and screening methodology to tilt toward issuers ranked higher on ESG criteria and green bond issues, and to underweight and exclude issuers that rank lower. Resources, Affiliations & Corporate Strategies:Our dedicated RI subject matter experts are embedded across our asset management division. Our personnel has diverse experience and expertise across the spheres of stewardship and responsible investment. The result is a strong and cohesive set of professionals with complementary skills and experience. As of 31 December 2025, there are 60 employees with roles dedicated to ESG, within the Asset Management division, some of which are outlined in more detail below.
Responsible Investment and Investment Stewardship team
Climate Solutions team
Private Markets
The above teams work centrally across our investment platform to ensure we have a dedicated function for responsible investing activities. For example, our Investment Stewardship team acts as a universal owner on behalf of all our clients, seeking to address key macro and systemic risks, with the aim of tackling market issues and accelerating progress against complex, global sustainability challenges.
Global Research and Engagement Group (GREGs) Further to those with roles dedicated to ESG, our Global Research and Engagement Groups (GREGs) bring together representatives from the Investment and Investment Stewardship teams across regions and asset classes. The GREGs enable L&G to connect top-down macro and thematic views with bottom-up analysis of corporate and sector fundamentals to understand the materiality of sustainability risks and opportunities and prioritise them accordingly. Combining the capabilities of the Investment and Investment Stewardship teams also enables L&G to scale and coordinate our engagement efforts with companies at board and executive management levels, across all asset class and investment styles. C.40 research analysts contribute to our GREGs, researching into structural industry changes and risks, and identifying key themes and engagement topics across nine sectors. Our Responsible Investing Governance and Decision-Making Forums has an extensive governance structure relating to RI throughout the Asset Management division. This is a mixture of informal working groups and formal forums. Please see below the chart for details. We believe in collaboration and, where legally permissible, work with peers, industry groups, non-governmental organisations (NGOs), academia, and civil society. We look forward to continuing our engagement with a broad range of third parties. Please see Page 26 of the Active Ownership report for details on list of related affiliations and memberships. Dialshifter (Corporate)Our organisation is helping to support the Paris Climate Agreement and the Race to Net Zero by… At L&G’s Asset Management division, we take our role in addressing climate change very seriously. We have a duty of looking to mitigate long-term risks and seize emerging opportunities and are a company that is acting today in our clients’ long-term interests. As a founding signatory to the Net Zero Asset Manager Initiative (NZAMI), we have committed to support the goal of net zero greenhouse gas (GHG) emissions by 2050, in line with global efforts to limit warming to 1.5°C. We have committed to work in partnership with our clients to reach net-zero GHG emissions by 2050 or sooner across all assets under management (AUM). SDR Labelling:Not eligible to use label (out of scope) Fund HoldingsVoting RecordDisclaimerThis communication is not a financial promotion and is intended for Professional Clients, Qualified Investors, companies, and pension trustees and should not be relied upon by retail customers, pension scheme members, employees, or any other persons. This document has been prepared by Legal & General Investment Management Limited and/or its affiliates (“LGIM”- or “L&G,” “we” or “us”) . The information in this document is the property and/or confidential information of L&G and may not be reproduced in whole or in part or distributed or disclosed by you to any other person without the prior written consent of L&G. Not for distribution to any person resident in any jurisdiction where such distribution would be contrary to local law or regulation. No party shall have any right of action against L&G in relation to the accuracy or completeness of the information in this document. The information and views expressed in this document are believed to be accurate and complete as at the date of publication, but they should not be relied upon and may be subject to change without notice. We are under no obligation to update or amend the information in this document. Where this document contains third-party data, we cannot guarantee the accuracy, completeness or reliability of such data and we accept no responsibility or liability whatsoever in respect of such data. No part of this document should be construed as providing investment advice, and L&G does not accept any liability for any decisions based on this document. Legal & General Investment Management Ltd is registered in England and Wales No. 02091894. Registered office: One Coleman Street, London EC2R 5AA. Authorised and regulated by the Financial Conduct Authority in the UK. In the European Economic Area, this document is issued by LGIM Managers (Europe) Limited, authorised and regulated by the Central Bank of Ireland as a UCITS management company (pursuant to European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (as amended) and as an alternative investment fund manager (pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (as amended). LGIM Managers (Europe) Limited’s registered office is at 70 Sir John Rogerson’s Quay, Dublin, 2, Ireland and it is registered with the Irish Companies Registration Office under company no. 609677. LGIM Managers (Europe) Limited operates a branch network in the European Economic Area, which is subject to supervision by the Central Bank of Ireland. In Italy, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Commissione Nazionale per le società e la Borsa (“CONSOB”) and is registered with Banca d’Italia (no. 23978.0) with registered office at Piazza della Repubblica 3, 20121 - Milano (Companies’ Register no. MI - 2557936). In Sweden, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Swedish Financial Supervisory Authority (“SFSA”). In Germany, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the German Federal Financial Supervisory Authority (“BaFin”). In the Netherlands, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Dutch Authority for the Financial Markets (“AFM“) and it is included in the register held by the AFM and registered with the trade register of the Chamber of Commerce under number 74481231. Details about the full extent of our relevant authorisations and permissions are available from us upon request. |
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