As part of our approach to responsible investment, Fidelity considers the exclusion of companies from our investment universe based on ESG criteria. We place companies which we regard as unsuitable investments on an Exclusion List. When deciding on whether to exclude a company we are guided by international conventions, particularly the Convention on Cluster Munitions, the International Convention on the Prohibition of the use of, stockpiling, production, and transfer of Anti-Personnel Mines, guidance from the United Nations, The World Bank, and other global regulations upholding ESG principles.
All funds managed by Fidelity International are subject to Fidelity International’s firm-wide exclusions list (cluster munitions and anti-personnel landmines). We also have extensive experience in managing institutional client portfolios with specific restrictions/guidelines in place. Some examples of client-requested exclusions that we have implemented include controversial weapon producers, alcohol and tobacco stocks, home country stocks, or stocks in which the investor has an economic interest.
Additionally, Fidelity has a Sustainable Family of Funds (“SF”) which is subject to an additional level of exclusions covering manufacturers of controversial weapons, civilian firearms, and tobacco.
Fidelity's firm-wide Exclusions Policy Framework can be found on our websites and we review the exclusion list on a quarterly basis.