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Responsible-Investment-Universe

Changes

The definition of our investment universe is the corner stone in building our funds.

AdmittedMarch 2017 – May 2017

Eandis System Operator (sector: Multi-Utilities), EAM ESG rating 05/2017 of C+, is the common operator of seven Flemish transmission network operators which are wholly-owned by 229 Flemish municipalities and the Province of West Flanders. It covers the utility areas of power, gas, and district heating as well as road and street lighting.

  • 😊 Relatively low failure rate in power supply.
  • 😊 Appropriate measures to reduce leakage in the gas distribution network, decline in loss rate over the past years
  • 😊 Target: reduction of CO2 footprint per employee by 20% until 2020 (referential year: 2008)
  • 😢 One fatal industrial accident in 2016

Excluded

Eni SpA (sector: Integrated Oil & Gas), EAM ESG rating 05/2017 of C+, is an Italian oil and energy group. The core business breaks down into exploration & production, gas & energy, refining, marketing, and petrochemicals. The Italian government holds slightly more than 30% in the company, which makes it the biggest shareholder.

  • 😢 Exclusion due to suspected corruption in Algeria, Nigeria, and Brazil.
  • 😔 Government as biggest individual shareholder has special rights vis-à-vis other shareholders.
  • 😊 Introduction of a strategy across the entire group to address climate change.
  • 😊 Low share of oil and gas from non-conventional sources such as oil shale and tar sand.
  • 😊 Clear efforts made to increase workplace safety, rate of fatal industrial accidents above sector average.

Danone SA (sector: Packaged Foods & Meats), EAM ESG rating 05/2017 of B-, is among the globally leading companies in the food sector. The company operates in the areas of fresh dairy products, water, baby and medicinal food.

  • 😢 Exclusion due to animal testing that according to the company is necessary to ensure the safety and effectiveness of new products and for market approval, but that do not go beyond minimum legal requirements.
  • 😊 Measurements of the CO2 footprint for core products over the entire life cycle for the majority of its plants.
  • 😊 Ambitious strategy to capture and reduce water consumption and to conserve water resources in the area of fresh dairy products and water.
  • 😢 No use of genetically modified organisms in Europe, but not excluded in countries where this is socially acceptable.

[Alexander Osojnik]

iStock
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