Since signing the UN’s principles for responsible investment in 2008, we have successively increased our level of ambition in this area. We do not invest in companies that have substantial sustainability challenges or are engaged in activities that violate international guidelines and conventions.
All actively managed SEB funds follow our core sustainability criteria and thus do not invest in companies engaged in the following (see pyramid #1):
- Manufacture, development or sale of controversial weapons including landmines, cluster weapons, chemical weapons and biological weapons
- Development or production of nuclear weapons
- Extraction of thermal coal, in the cases that extraction exceeds 20 percent of the company’s turnover
- Verifiably breach international norms and conventions regarding human rights, the environment, anti-corruption and labour rights, and where we do not see any impetus to address the problems
SEB’s sustainable and ethical funds also exclude companies with more than 5 percent of their turnover derived from alcohol, weapons, commercial gambling or pornography. Additionally, no investments are made in companies or company groups that produce or distribute tobacco products. The goal is to completely exclude companies that produce tobacco. Thus the maximum turnover for a company is 0%. The maximum turnover for a company that distributes tobacco is 5%. (see pyramid #2).
Our sustainable funds also exclude companies that extract coal, gas or oil (see pyramid #3).
Below: The sustainability criteria that our fund managers apply when excluding companies. The higher a fund is in the pyramid, the more sustainable it is from an exclusion perspective.