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.

Has a significant focus on sustainability issues

Aim to encourage higher sustainability standards through responsible ownership / stewardship / engagement / voting activity

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/

Publicly report performance against named sustainability objectives

Has policies which relate to environmental issues. These will typically set out their stance on issues such as pollution, climate change, resource management, biodiversity loss, carbon emissions, plastics and/or additional environmental impacts. Strategies vary.

Options that limit or 'reduce' their exposure to carbon intensive industries (ie sectors which are major contributors to climate change). Strategies vary.

Has documented policies explaining the approach to environmental damage and pollution. Strategies vary.

Has a policy or theme that relates to managing natural resources more efficiently. Strategies vary. See individual entry information.

Aims to invest in companies with strong or market leading environmental policies and practices. Strategies vary. See individual entry information for more detail.

Has policies (documented strategies that explain their position) on climate change related issues such as greenhouse gas/carbon emissions, net zero, transitioning to lower carbon. Strategies vary.

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.

Avoid companies that are involved in extracting oil from the Arctic regions.

Avoid investing in companies / assets with coal, oil and gas reserves. See individual entry information for further details.

Invest (or may invest) in clean / renewable energy companies and other assets. The proportion directly or indirectly invested in renewable energy may vary over time.

Encourage the transition to lower carbon activities through asset selection and / or responsible ownership activity.

Has an energy efficiency theme - typically meaning that the manager is focused on investing in organisations that manage - or help others to manage - energy use more carefully and less wastefully - and so reduce greenhouse gas emissions.

Invest in renewable energy companies and / or companies where renewable energy is a significant part of their business. Strategies vary.

Excludes companies and other assets with direct involvement in fossil fuel exploration (eg coal, oil and gas companies)

Has policies which set out their approach to social issues (e.g. human rights, labour standards, equal opportunities, child labour and/or adherence to internationally recognised codes such as the UN Global Compact). Strategies with social policies typically avoid companies with low standards and/or work to encourage higher standards. See fund information for detail.

Has a labour standards policy - likely to mean they will invest in / favour companies that have higher employment related standards and avoid those with low standards. Strategies vary. See eg https://www.ilo.org/international-labour-standards

Aims to invest in assets with high social values - this may include strong human rights, labour standards and equal opportunities or safety related practices.

Has policies or themes that set out their approach to health and wellbeing issues, typically aims to invest in companies with high standards - or encourage high standards.

Has a written diversity policy – where the manager will aim to select companies with a carefully considered, positive employment standards. This may cover a range of issues including gender, ethnicity, disability, beliefs and sexual orientation.

Has a policy that explains their position on which mining companies they may or may not invest in. Typically this may mean only investing in assets with high environmental and social standards. This is a growing concern given demand for rare earth metals eg lithium, cobalt.

Has policies that set out their position on ethical or 'personal values' based issues. Strategies vary.

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.

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.

Avoids companies that produce alcohol. Strategies vary; some may allow a small proportion of revenue to come from this area.

Avoids companies with significant involvement in the gambling industry. Some may allow a small proportion of revenues to come from this area.

Avoids companies that derive significant income from pornography and related areas. Strategies vary.

Has policies that require specific animal welfare standards to be met. These may reference well-known welfare standards (3Rs - Replace, Reduce, Refine) or certification schemes. Strategies vary.

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.

Has policies that exclude companies or other assets which operate in, or are owned by regimes which are not democratic, or where people may be oppressed. May use eg. Freedom House research. Strategies vary.

Has a policy which excludes assets with involvement in Modern Slavery

Have policies or themes that set out the position on investment in the water sector and/or sanitation. Strategies vary.

Has a thematic investment approach focusing on the ‘silver economy’ - in particular (typically) the issues and opportunities presented by changing demographics. This could include finance, healthcare and medicines and/ or longevity science to extend lifespans. Strategies vary.

Have investments in social housing or similar assets.

Invest in ‘social bonds’ which raise funds for the purpose of financing projects with positive social (people related) outcomes.

Healthcare and or medical theme or area of investment - may have a single or many themes

Invest in loans issued the government, commonly known as gilts or government bonds. These may or may not be ringfenced for specific projects (see additional options).

Invest in financial instruments issued by governments, but will only hold those that meet certain environmental and or social criteria. This may, for example mean certain assets are excluded in line with eg Freedom House research. Strategies vary.

Can include banks as part of their holdings / portfolio.

Invests in financial instruments (cash, derivatives and / or foreign exchange) issued by banks. Strategies vary.

May invest in insurance companies.

Has policies that relate to corporate governance issues such as board structure, executive remuneration, bribery and/or corporate corruption. These funds will typically avoid companies with poor practices. Strategies vary.

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

Has policies explaining how managers will respond to assets / companies that do not comply with relevant anti-bribery and anti-corruption standards or laws. Strategies vary; options include stewardship/ engagement and divestment - or a combination.

Encourage the companies they invest in to have more diverse board structures (e.g. more women on boards)

Encourage the banks and insurance companies they invest in to publish climate change related financial information - as set out by the Task Force on Climate Related Financial Disclosures (with the aim of helping investors measure and respond to climate risk).

Aim to encourage higher ESG standards through responsible ownership / stewardship / engagement /voting activity

Find options that have an external committee that helps steer or advise managers on sustainability, ethical, stewardship or ESG policy or strategy related issues. These people may be paid for their time but are not employees of the fund manager.

Find fund / asset managers that factor in 'environmental, social and governance' issues as part of their investment decision making process. A focus on 'ESG' typically means a fund is carrying out additional research to help reduce ESG related risks. It does not necessarily mean a focus on sustainability. Strategies vary. See fund literature.

Environmental, social and governance issues are part of this fund’s reporting of their ‘value’ to clients. AoV reporting is a statutory requirement. Including ESG factors in its calculation is not.

Invests more than half of their money into what are commonly regarded as 'large companies'. This will typically mean that the market capitalisation (or value) of the companies they hold is in excess of £5 to £10 billion.

Invests in a combination of small, medium and larger (potentially multinational) companies / assets.

Invests mainly in larger companies / assets. (e.g. over circa £5-£10bn)

Invests in international entities or bodies with agreed remits that are broadly similar to those that may otherwise be undertaken by individual governments eg the UN

Invests in loan stock that is exclusively used to finance environmental and social projects. See ICMA Sustainable Bond Guidelines.

Invests in loan stock that is supporting or enabling the shift towards a cleaner, more sustainable future. Strategies vary significantly and may or may not be linked to specific outcomes.

Invests in green bonds (also known as climate bonds) which encourage sustainability and support climate related or special environmental projects.

Invests more than 50% in green bonds (also known as climate bonds) which encourage sustainability and support climate related or special environmental projects.

Invests >25% of their capital in companies where a major part of their business is focused on helping to address environmental or social challenges.

Invests >50% of their capital in companies where a major part of their business is focused on helping to address environmental or social challenges.

Directs investment towards companies where a major part of their business is about solving environmental challenges. e.g. companies helping to address climate change.

Invest in companies where a major part of their business is specifically aimed at helping to address social challenges. e.g. companies helping to address poverty.

Focuses on finding and investing in companies with positive / beneficial attributes. This strategy can be applied in addition to exclusion criteria and engagement/stewardship activity.

Has principle 'ethical approach' to avoid companies by using negative screening criteria. Strategies vary.

Has principle approach to apply positive or negative ethical, social and / or environmental screens. Strictly screened investments are likely to exclude more companies than other related options. 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.

Invests in assets which can be 'mapped' (reviewed) their investment selection and management strategies to identify which of the UN Sustainable Development Goals (SDGs) the fund is helping to address.

Investment selection process uses internationally agreed 'norms' (e.g. United Nations Global Compact - UNGC - or the UN Sustainable Development Goals - SDGs) alongside additional SRI criteria such as positive or negative stock selection policies and/or stewardship strategies.

Invests in assets which have an ESG strategy (which is typically focused on avoiding companies that pose environmental, social or governance related risks) together with additional criteria such as positive and/or negative screens, themes and stewardship strategies.

Considers both the 'positive' and 'negative' aspects of company behaviour and makes balanced, considered decisions as part of their investment approach. May apply to a range of different issues and policy areas.

Uses internationally agreed standards, conventions and 'norms' to help direct investment decisions (e.g. the UN Global Compact, UN Sustainable Development Goals).

Focuses on the careful management of environmental, social and governance (ESG) related risks - typically by avoiding or being underweight in companies seen as posing major risks in these areas (i.e. not necessarily by using themes, exclusions etc).

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

Holds between 70-79% of assets which align to the sustainability objectives; which are not being held purely for risk management purposes, such as derivatives and cash equivalent assets.

Holds between 80-89% of assets which align to the sustainability objectives; which are not being held purely for risk management purposes, such as derivatives and cash equivalent assets.

Holds at least 90% of assets which align to the sustainability objectives; which are not being held purely for risk management purposes, such as derivatives and cash equivalent assets.

All assets - except cash - meet the sustainability criteria published in strategy documentation.

The cash held has a sustainability strategy; strategies vary.

Designed to meet the needs of individual investors with an interest in sustainability issues.

Designed for clients who care about ethical and values-based issues, often alongside sustainability issues also.

Has attributes that commonly suit the aims of investors of faith - although they may not be specifically marketed as being only for religious investors. Strategies vary (as do investor aims).

Available via a tax efficient ISA product wrapper.

Only applicable for DFM’s & portfolio providers. Finds those that offer an SRI / ESG portfolio option

Only applicable for DFM’s & portfolio providers. Find service providers who offer multiple SRI / ESG portfolio options

Only applicable for DFM’s & portfolio providers. Find service providers who offer bespoke ('personalised') SRI / ESG portfolio options

Find fund / asset management companies that are smaller or specialise in particular areas - notably, ideally ESG related. Strategies vary.

Find fund / asset management companies (or subsidiaries) that specialise in - or focus entirely on - investing in assets that are helping to deliver positive environmental and / or social impacts.

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 consider responsible ownership and ESG to be a key differentiator for their business.

Find fund / asset management companies that aim to align all their investments (across all funds) to help meet the aims of the UN Sustainable Development 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).

Fund / asset manager has information on their website that explains how they treat 'vulnerable clients' (as set out in FCA regulation)

Fund management entity offers unstructured intermediary training on sustainable investment (ie for financial advisers and wealth managers)

Fund management entity offers unstructured intermediary training on sustainable investment (ie for financial advisers and wealth managers)

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.

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)

Fund / asset manager has achieved accreditation which requires them to articulate their purpose and have high environmental and social standards.

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.

Find fund / asset management companies that are working with the companies they invest in to encourage more responsible corporate taxation.

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

Has a stewardship / responsible ownership strategy that encourages responsible supply chain - ie the managers will discuss environmental, social and governance issues with investee companies with the aim of raising standards

Funds and other options may use assets that are not directly aligned with sustainability objectives in order to help manage investment risk. Requesting more sustainable options of this kind will aid alignment with fund objectives.

Working to address sustainability, ESG and related concerns around artificial intelligence.

Find fund / asset management companies (not funds) that avoid investment in 'controversial weapons' across all of their funds and other investment vehicles.

Find fund / asset management companies that avoid investment in tobacco (manufacturing) companies across all their assets.

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 has a strategy in place that will lead them to exit direct investments in the coal mining industry. Managers ability to do this may depend on the geographic regions in which they invest.

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.

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.

Finds organisations / fund managers that have published ‘forward looking climate metrics’ e.g. 'implied temperature rise' data that are a total of the asset management company's share (% owned) of all the investee company emissions of the assets they manage, as well as their own direct and other indirect emissions.

This fund / asset management company plans to achieve net zero greenhouse gas (CO2e) emissions with the help of a scheme that will lock away an amount of carbon that is equivalent to the company’s own emissions – so that the end result is ‘net zero’. 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'.

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 will supply information about their sustainable and responsible investment activity on request.

Find fund / asset management companies that have supplied Dialshifter information. See Dialshifter tab within record for more information.