Our Fundamental Investment Principals for companies apply to all investments and cover several international norms and standards and other ethical criteria, including UNGC, OECD guidelines, UNESCO conventions and others. In 2019, with an update to our Sustainable Investment Policy, we have introduced our Fundamental Material Drivers assessment, also applicable to all investments. In it, several ESG topics are applied to individual companies evaluation, following seven different drivers: from human capital development to biodiversity, businesss ethics to chemicals use. The practices and performance of companies are assessed to define to which extent these are prepared on their way to the transition towards a safe and just space. Companies are then categorized as 'non adaptive', 'at risk' or 'adaptive', indicating such preparedness. Companies indicated as 'non-adaptive' are considered for exclusion, and those 'at risk' may face an ESG Score downgrade. Portfolio managers strive for a high ESG Score for every portfolio, overcoming at least the ESG Score of the benchmark.