ESG/Sustainable fund reporting
These Funds seek to achieve long-term capital appreciation by investing in companies which both contribute to, and benefit from, sustainable development, achieving positive social and environmental sustainable outcomes.
- ICVC OEIC Funds
- Irish VCC Funds
- Pacific Assets Trust
ESG Sustainability reporting
The Funds listed above and shown below pursue responsible or sustainable investment strategies and/or pursue ESG/sustainability characteristics, themes or outcomes. For these Funds the Investment Manager aims to make information readily available on how well the Fund is meeting its stated objectives on an ongoing basis to enable investors to monitor whether their expectations are being met. The regulatory environment for these types of funds is rapidly developing and we expect our disclosures to develop over time in light of the changing regulatory landscape.
These Funds seek to achieve long-term capital appreciation by investing in companies which both contribute to, and benefit from, sustainable development, achieving positive social and environmental sustainable outcomes. The Funds only invest in companies that are sustainable investments which contribute to a social and/or environmental objective. The contribution of the Funds’ investments to the social and environmental objectives are assessed by reference to two framework indicators – the Investment Manager’s human development pillars and Project Drawdown climate change solutions.
Human development pillars
The Investment Manager has determined 10 broad pillars which they believe encapsulate the essence of human development and which can be mapped to companies. Each investee company must be contributing in a tangible way to at least one of the following pillars:
- Nutrition
- Healthcare and hygiene
- Water and sanitation
- Energy
- Housing
- Employment
- Finance
- Standard of living
- Education
- Information
Climate change solutions
Project Drawdown is a non-profit organisation, founded in 2014, which has mapped, measured and modelled over 90 different solutions to global warming, with the ultimate goal of reaching drawdown – i.e. the point in the future when emissions stop increasing and start to steadily decrease. Each Fund investment is mapped by the Investment Manager against the c.90 solutions (which are captured in eight broader solutions of Buildings, Circular economy / industry, Conservation / restoration, Energy, Food system, Human development, Transport and Water). The Investment Manager’s focus is on whether the companies themselves are making a meaningful contribution and will have meaningful involvement with the delivery of any of those solutions. Where the companies in which the Fund invests do contribute to any of the solutions, they will be involved in making products and delivering services directly, or by enabling/supporting those solutions.
These frameworks, alongside the Investment Manager’s own bottom-up analysis, lean on measurable and reportable outcomes as evidence for determining a company’s meaningful contribution to sustainable development.
Meaningful company contribution:
- Demonstrates a clear link to the underlying issue and solution, including whether the contribution is direct or enabling/supporting.
- Is relevant for the company either as a revenue/growth driver, as strategic initiatives backed by research and development or capital expenditure, or a function of strong culture or behaviours and ‘how they do things’ e.g. for equality and diversity.
- Recognises negative impacts from the company, including contradictions and risks of perverse outcomes.
Companies can contribute in many different ways to a better future for people and planet. To align with their bottom-up investment approach, the Investment Manager provides descriptions, via their interactive Portfolio Explorer tool, on how they believe each company is contributing towards sustainable development.
Users can explore the stories of individual companies organised by the diverse contributions they make including towards human development pillars and climate solutions. This information is updated on a quarterly basis.
In addition, the data and charts below provide a summary of the social and environmental outcomes for each Fund. This information will be updated biannually.
Fund level reporting to 31 December 2022
Stewart Investors Asia Pacific and Japan Sustainability
- As at 31 December 2022, the Fund held 54 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 141 contributions to the pillars.
- 31 companies (57%) were contributing to climate change solutions. These companies were contributing to 32 different solutions and, in total, were making 89 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Asia Pacific Leaders Sustainability Fund
- As at 31 December 2022, the Fund held 39 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 111 contributions to the pillars.
- 25 companies (64%) were contributing to climate change solutions. These companies were contributing to 26 different solutions and, in total, were making 79 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Asia Pacific Sustainability Fund
- As at 31 December 2022, the Fund held 61 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 161 contributions to the pillars.
- 37 companies (61%) were contributing to climate change solutions. These companies were contributing to 33 different solutions and, in total, were making 110 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors European (ex UK) Sustainability Fund
- As at 31 December 2022, the Fund held 39 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 95 contributions to the pillars.
- 31 companies (79%) were contributing to climate change solutions. These companies were contributing to 40 different solutions and, in total, were making 100 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Global Emerging Markets Fund
- As at 31 December 2022, the Fund held 53 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 143 contributions to the pillars.
- 31 companies (58%) were contributing to climate change solutions. These companies were contributing to 29 different solutions and, in total, were making 85 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Global Emerging Markets Sustainability Fund
- As at 31 December 2022, the Fund held 53 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 143 contributions to the pillars.
- 31 companies (58%) were contributing to climate change solutions. These companies were contributing to 29 different solutions and, in total, were making 85 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Global Emerging Markets Leaders Sustainability Fund
- As at 31 December 2022, the Fund held 41 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 115 contributions to the pillars.
- 27 companies (66%) were contributing to climate change solutions. These companies were contributing to 27 different solutions and, in total, were making 80 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Global Emerging Markets Leaders Fund
- As at 31 December 2022, the Fund held 42 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 117 contributions to the pillars.
- 28 companies (67%) were contributing to climate change solutions. These companies were contributing to 28 different solutions and, in total, were making 82 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Indian Subcontinent Sustainability Fund
- As at 31 December 2022, the Fund held 37 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 105 contributions to the pillars.
- 22 companies (59%) were contributing to climate change solutions. These companies were contributing to 33 different solutions and, in total, were making 68 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Worldwide Leaders Sustainability Fund
- As at 31 December 2022, the Fund held 42 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 106 contributions to the pillars.
- 32 companies (76%) were contributing to climate change solutions. These companies were contributing to 35 different solutions and, in total, were making 94 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Worldwide Sustainability Fund
- As at 31 December 2022, the Fund held 49 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 111 contributions to the pillars.
- 35 companies (71%) were contributing to climate change solutions. These companies were contributing to 34 different solutions and, in total, were making 99 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Source for analysis and mapping: Stewart Investors investment team, company data and © 2014–2023 Project Drawdown (drawdown.org) as at 31 December 2022.
Contributions are defined by the team as demonstrable contributions to any solution, either direct (directly attributable to products, services or practices provided by that company) or enabling (supported or made possible by products or technologies provided by that company). More information is available on the Portfolio Explorer.
SFDR disclosures for Article 9 funds
Sustainable investment objective
This information relates to the Stewart Investors Asia Pacific Leaders Sustainability Fund, Stewart Investors Asia Pacific Sustainability Fund, Stewart Investors European Sustainability Fund, Stewart Investors Global Emerging Markets Leaders Fund, Stewart Investors Global Emerging Markets Sustainability Fund, Stewart Investors Worldwide Leaders Sustainability Fund and Stewart Investors Worldwide Sustainability Fund (the “Funds”)
The Funds listed above and shown below seek to achieve long-term capital appreciation by investing in companies which both contribute to, and benefit from, sustainable development, achieving positive social and environmental sustainable outcomes.
Positive social sustainability outcomes include the enablement of improved health and wellbeing; access to income-generating and enterprise opportunities; fair employment and workplace safety; access to education and learning opportunities; communication and access to information; financial inclusion; sustainable transport and mobility; better access to housing, water, sanitation and electricity; and social inclusion and reduced inequality.
Positive environmental sustainability outcomes include more careful, efficient and productive use of natural resources; reduced waste and improved waste management; the wider adoption of circular economy practices and measures; the adoption of renewable and cleaner energy technologies; reduced greenhouse gas emissions; reduced water, air and other environmental pollution; a slowing in the rate of land degradation, land use change and loss of forests and biodiversity; and measures and technologies that enable climate change adaptation and resilience.
The Funds only invest in companies that are sustainable investments which contribute to a social and/or environmental objective. The contribution of the Funds' investments to the social and environmental objectives are assessed by reference to two framework indicators – the Investment Manager’s human development pillars and Project Drawdown climate change solutions.
Human development pillars
The Investment Manager has determined 10 broad pillars which they believe encapsulate the essence of human development and which can be mapped to companies. Each investee company must be contributing in a tangible way to at least one of the following pillars:
- Nutrition
- Healthcare and hygiene
- Water and sanitation
- Energy
- Housing
- Employment
- Finance
- Standard of living
- Education
- Information
Climate change solutions
Project Drawdown is a non-profit organisation, founded in 2014, which has mapped, measured and modelled over 90 different solutions to global warming, with the ultimate goal of reaching drawdown – i.e. the point in the future when emissions stop increasing and start to steadily decrease. Each Fund investment is mapped by the Investment Manager against the c.90 solutions (which are captured in eight broader solutions of Buildings, Circular economy / industry, Conservation / restoration, Energy, Food system, Human development, Transport and Water). The Investment Manager’s focus is on whether the companies themselves are making a meaningful contribution and will have meaningful involvement with the delivery of any of those solutions. Where the companies in which the Fund invests do contribute to any of the solutions, they will be involved in making products and delivering services directly, or by enabling/supporting those solutions.
These frameworks, alongside the Investment Manager’s own bottom-up analysis, lean on measurable and reportable outcomes as evidence for determining a company’s meaningful contribution to sustainable development.
Meaningful company contribution:
- Demonstrates a clear link to the underlying issue and solution, including whether the contribution is direct, or enabling/supporting.
- Is relevant for the company either as a revenue/growth driver, as strategic initiatives backed by research and development or capital expenditure, or a function of strong culture or behaviours and ‘how they do things’ e.g. for equality and diversity.
- Recognises negative impacts from the company, including contradictions and risks of perverse outcomes.
How did the sustainability indicators perform?
Companies can contribute in many different ways to a better future for people and planet. To align with their bottom-up investment approach, the Investment Manager provides descriptions, via their interactive Portfolio Explorer tool, on how they believe each company is contributing towards sustainable development.
Users can explore the stories of individual companies organised by the diverse contributions they make including towards human development pillars and climate solutions. This information is updated on a quarterly basis.
Fund level reporting to 31 December 2022
The SFDR Level 2 reporting template for each of our Article 9 funds is available in a standalone document and also within the First Sentier Investors Global Umbrella Fund plc are available via the 2022 Annual Report. The social and environmental outcomes for the Funds are below:
Stewart Investors Asia Pacific Sustainability Fund
- As at 31 December 2022, the Fund held 61 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 161 contributions to the pillars.
- 37 companies (61%) were contributing to climate change solutions. These companies were contributing to 33 different solutions and, in total, were making 110 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Asia Pacific Leaders Sustainability Fund
- As at 31 December 2022, the Fund held 39 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 111 contributions to the pillars.
- 25 companies (64%) were contributing to climate change solutions. These companies were contributing to 26 different solutions and, in total, were making 79 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors European Sustainability Fund
- As at 31 December 2022, the Fund held 41 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 99 contributions to the pillars.
- 33 companies (80%) were contributing to climate change solutions. These companies were contributing to 41 different solutions and, in total, were making 103 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Global Emerging Markets Sustainability Fund
- As at 31 December 2022, the Fund held 53 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 143 contributions to the pillars.
- 31 companies (58%) were contributing to climate change solutions. These companies were contributing to 29 different solutions and, in total, were making 85 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Global Emerging Markets Leaders Fund
- As at 31 December 2022, the Fund held 42 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 117 contributions to the pillars.
- 28 companies (67%) were contributing to climate change solutions. These companies were contributing to 28 different solutions and, in total, were making 82 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Worldwide Leaders Sustainability Fund
- As at 31 December 2022, the Fund held 42 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 106 contributions to the pillars.
- 32 companies (76%) were contributing to climate change solutions. These companies were contributing to 35 different solutions and, in total, were making 94 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Stewart Investors Worldwide Sustainability Fund
- As at 31 December 2022, the Fund held 49 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 111 contributions to the pillars.
- 35 companies (71%) were contributing to climate change solutions. These companies were contributing to 34 different solutions and, in total, were making 99 contributions to the solutions.
The social and environmental outcomes for the Fund are provided in the charts.
Source for analysis and mapping: Stewart Investors investment team, company data and © 2014–2023 Project Drawdown (drawdown.org) as at 31 December 2022.
Contributions are defined by the team as demonstrable contributions to any solution, either direct (directly attributable to products, services or practices provided by that company) or enabling (supported or made possible by products or technologies provided by that company). More information is available on the Portfolio Explorer.
Glossary
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
SFDR disclosures for Article 9
Sustainable investment objective
This information relates to the Pacific Asset Trust plc (the “Trust”)
The Trust seeks to achieve long-term capital appreciation by investing in companies which both contribute to, and benefit from, sustainable development, achieving positive social and environmental sustainable outcomes.
Positive social sustainability outcomes include the enablement of improved health and wellbeing; access to income-generating and enterprise opportunities; fair employment and workplace safety; access to education and learning opportunities; communication and access to information; financial inclusion; sustainable transport and mobility; better access to housing, water, sanitation and electricity; and social inclusion and reduced inequality.
Positive environmental sustainability outcomes include more careful, efficient and productive use of natural resources; reduced waste and improved waste management; the wider adoption of circular economy practices and measures; the adoption of renewable and cleaner energy technologies; reduced greenhouse gas emissions; reduced water, air and other environmental pollution; a slowing in the rate of land degradation, land use change and loss of forests and biodiversity; and measures and technologies that enable climate change adaptation and resilience.
The Trust only invests in companies that are sustainable investments which contribute to a social and/or environmental objective. The contribution of the Trust investments to the social and environmental objectives are assessed by reference to two framework indicators – the Investment Manager’s human development pillars and Project Drawdown climate change solutions.
Human development pillars
The Investment Manager has determined 10 broad pillars which they believe encapsulate the essence of human development and which can be mapped to companies. Each investee company must be contributing in a tangible way to at least one of the following pillars:
- Nutrition
- Healthcare and hygiene
- Water and sanitation
- Energy
- Housing
- Employment
- Finance
- Standard of living
- Education
- Information
Climate change solutions
Project Drawdown is a non-profit organisation, founded in 2014, which has mapped, measured and modelled over 90 different solutions to global warming, with the ultimate goal of reaching drawdown – i.e. the point in the future when emissions stop increasing and start to steadily decrease. Each Trust investment is mapped by the Investment Manager against the c.90 solutions (which are captured in eight broader solutions of Buildings, Circular economy / industry, Conservation / restoration, Energy, Food system, Human development, Transport and Water). The Investment Manager’s focus is on whether the companies themselves are making a meaningful contribution and will have meaningful involvement with the delivery of any of those solutions. Where the companies in which the Trust invests do contribute to any of the solutions, they will be involved in making products and delivering services directly, or by enabling/supporting those solutions.
These frameworks, alongside the Investment Manager’s own bottom-up analysis, lean on measurable and reportable outcomes as evidence for determining a company’s meaningful contribution to sustainable development.
Meaningful company contribution:
- Demonstrates a clear link to the underlying issue and solution, including whether the contribution is direct, or enabling/supporting.
- Is relevant for the company either as a revenue/growth driver, as strategic initiatives backed by research and development or capital expenditure, or a function of strong culture or behaviours and ‘how they do things’ e.g. for equality and diversity.
- Recognises negative impacts from the company, including contradictions and risks of perverse outcomes.
How did the sustainability indicators perform?
Companies can contribute in many different ways to a better future for people and planet. To align with their bottom-up investment approach, the Investment Manager provides descriptions, via their interactive Portfolio Explorer tool, on how they believe each company is contributing towards sustainable development.
Users can explore the stories of individual companies organised by the diverse contributions they make including towards human development pillars and climate solutions. This information is updated on a quarterly basis.
In addition, the data and charts below provide a summary of the social and environmental outcomes for the Trust. This information will be updated biannually.
Pacific Assets Trust reporting to 31 December 2022
- As at 31 December 2022, the Trust held 63 companies.
- All companies (100%) were contributing to at least one human development pillar and, in total, were making 174 contributions to the pillars.
- 38 companies (60%) were contributing to climate change solutions. These companies were contributing to 33 different solutions and, in total, were making 111 contributions to the solutions.
The social and environmental outcomes for the Trust are provided in the charts.
Source for analysis and mapping: Stewart Investors investment team, company data and © 2014–2023 Project Drawdown (drawdown.org) as at 31 December 2022.
Contributions are defined by the team as demonstrable contributions to any solution, either direct (directly attributable to products, services or practices provided by that company) or enabling (supported or made possible by products or technologies provided by that company). More information is available on the Portfolio Explorer.
Glossary
Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
