Investment in the nuclear and other arms industries and in the arms trade must be excluded.
In the case of participating interests in companies, the activities in these industries must not constitute more than 5% of the total assets of the respective company.
Funds must rule out investment in the generation of nuclear energy and in nuclear power plants, as well as in the production of essential components that clearly can be used only for these purposes.
Where companies in a fund own equity interests in such companies, the activities in these industries must constitute at most 5% of the total assets of the respective company.
Funds are excluded if they do not require their holdings to respect internationally recognised social responsibility standards such as the labour and human rights declarations of the International Labour Organisation or the United Nations.
Although it is not practicable to scrutinize the activities of the individual holdings in funds’ portfolios, one of the relevant social standards must at least be stipulated in a fund’s investment policy. In the case of pure environmental technology funds, the need to assess their incorporation of social standards depends on the production locations of their holdings. Funds with investments that have a significant portion of their production in countries with doubtful social standards must incorporate social criteria in their investment policy. Where such criteria are not explicitly stated, the case is reviewed individually.