Conduct-based exclusions mean that we choose not to select companies that breach international standards and treaties; this concerns:
- Human rights, labour law and international law
- Corruption and economic crime
- Serious environmental and climate damage, including unsustainable palm oil
- Controversial weapons (cluster bombs, anti-personnel mines, nuclear weapons, chemical and biological weapons)
Product-based exclusions mean that we choose not to select companies where more than 5 per cent of sales comes from production and/or distribution from:
- Weapons and military equipment
- Fossil fuels (coal, oil, gas)
- Tobacco
- Cannabis (for non-medical use)
- Alcohol
- Commercial gaming
- Pornography
- Companies holding large fossil fuel reserves (more than
100 million tonnes of carbon dioxide in fossil fuel reserves)
Our fund SPP Grön Obligationsfond has special fossil criteria and excludes any of the companies in Section 10, Energy (extraction of coal, oil and gas), and companies where more than 50 per cent of sales comes from the production and/or distribution of fossil fuels in other sectors. The reason for having a sales limit of 50 instead of 5 per cent is that green bonds shall have an opportunity to contribute to transition in sectors historically dependent on fossil fuels.
We choose not to select countries/states – government bonds issued by states/countries that systematically and seriously neglect fundamental social and political rights or that are subject to sanctions imposed by the UN Security Council.