Responsible Investment Universe
The definition of our investment universe is the corner stone in building our funds.
Through a series of strict criteria, we filter those companies that we include or exclude.
The following list is an excerpt of the changes.
Included August/September 2014
Stagecoach PLC (sector: Trucking) is a British transport company that generates 80% of its sales in the UK. In addition
it has operations in numerous European countries, USA, and Canada. The company provides local and long-distance
transportation services via urban buses, coaches, rail, and tramway.
Reduction of carbon emissions through the use of hybrid buses, and test series with bio fuels
Obligation to obtain 70% of the power required for the British bus and coach services from renewable sources
Efforts to increase health and safety at the workplace; recommendation to certify the health and safety
management system
Accusations of forming a monopoly in the city tour business in New York City
Best Buy Co Inc (sector: computer & electronics retail) sells consumer and office electronics via retail chains,
call centres, and websites.
Proactive handling of the issue of electronic waste and recycling; private and business customers are given
a vast variety of options to dispose of unwanted electronics
Participating in the Electronic Industry Citizenship Coalition (EICC); the goals of this association are the
improvement of the working conditions, of health and safety, of the effects on the environment and of corporate
behaviour in international trade
Renewal of the commitment to the reduction of carbon emissions and the increase in energy efficiency;
however, measures and extent of implementation are unclear
Little transparency with regard to the use and the reduction of hazardous substances in products and the
production process
100 %
Stagecoach has operated a small bus fleet running on
100% biodiesel in West Scotland since 2007. The fuel
used for the bus rides is exclusively produced from used
cooking oil and other food industry by-products.
Passenger who bring their frying oil to collection points
receive a discount on their bus tickets. With this initiative,
one of Stagecoach‘s numerous environmental projects,
more than 80% of the bus fleet’s carbon emissions could
be saved.
Excluded August/September 2014
Puma SE (sector: footwear) is one of the best-known manufacturers of trainers, sports and lifestyle
apparel, and accessories.
Violation of the exclusion criterion of “infringement with working rights”, among others due to the delay in
wage payments and insufficient measures taken in the area of health and safety by a supplier in Central America
High risk with regard to future infringements of working rights in the supply chain (manufacturing in low-wage
countries with problematic health and safety conditions)
Insufficient employment of life-cycle-analyses in product design
(Alexander Osojnik)