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 June/July 2014
BillerudKorsnäs AB (sector: packaging material) is a Swedish cardboard and packaging material manufacturer.
The company produces cellulose as well as packaging paper and cardboard. The three paper mills of the company
mainly supply the European market with their products.
Ongoing improvement of the life cycle management of products
Rising degree of certification of the timber suppliers and company-owned plantations according to the
international standards for sustainable forestry (FSC and PEFC)
Energy-efficient production processes
30% of the Supervisory Board members are women
Insufficient water strategy in spite of high dependence on water in paper production
Evonik Industries AG (sector: specialty chemicals) is one of the world’s leading companies in specialty chemicals.
The company focuses on applications in the areas of consumer goods, pet food, healthcare, energy-efficient
system solutions, and special material, especially for the rubber and plastics industry.
Co-founder of the initiative “Together for Sustainability” in order to improve transparency and efficiency as
well as ecological and social standards among suppliers
Group-wide implementation of a strategy regarding climate change and its sector-specific risks
Extensive measures aimed at providing consumers with adequate product information with regard to the
safe handling of the company’s products
Insufficient information about strategies geared towards the reduction or the replacement of hazardous
substances
8 chemical companies
8 European chemical companies carry the initiative „Together
for Sustainability“ (TfS) founded in 2011. AkzoNobel, BASF,
Bayer, Clariant, Evonik Industries, Henkel, Lanxess und Solvay
have agreed on a standardised check of their suppliers, thus
ensuring their sustainability. The sheer size of the TfS members provides an impressive leverage effect: Evonik alone is being
supplied by ten thousands of companies.
Sources: Evonik Industries, Together for Sustainability
Excluded June/July 2014
Anheuser-Busch InBev NV (sector: brewers) is one of the globally leading breweries. The company holds a
portfolio of more than 200 beer brands such as Budweiser, Stella Artois, and Beck’s.
Extensive corporate strategy aimed at the sustainable use of water in the production process and agriculture
Moderate efforts made to reduce the carbon footprint
Weak corporate governance scores in the composition of the board and compensation
Insufficient monitoring of suppliers with regard to their compliance with the labour and safety standards
