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)

Previous article / Lasting words: Good and Evil

Next article / At a glance: The performance of all our Responsible Funds

© Erste Asset Management GmbH  |  Imprint  |  Disclaimer  |  Privacy