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PRI reporting framework 2020

You are in Strategy and Governance » Investment policy


SG 01. RI policy and coverage


01.1. 責任投資アプローチをカバーする投資ポリシーを策定しているかどうかを明示してください。

01.2. ポリシーの構成要素/種類と対象範囲を示してください。


01.3. 投資ポリシーが以下のどの項目をカバーしているか明示して下さい:

01.4. 組織の投資原則および全体の投資戦略、受託者義務(または同等のもの)の解釈、ならびに、ESGファクターおよび実体経済の影響をどのように考慮に入れているかについて説明してください。

Ethical Investment Process - U Ethical’s investment process ensures that all investment decisions are in keeping with our vision and that they promote careful financial stewardship. This is achieved through the application of positive and negative screens, and engagement with companies - together with a focus on competitive economic returns and sustainability.

Positive Screening

Our positive screen seeks out companies that promote human welfare and dignity or environmental sustainability. We screen positively for sectors such as: clean energy, sustainable agriculture, recycling and reuse, employment, community and education services and health care. We assess our positive thematic companies on their net contribution to the achievement of the UN Sustainable Development Goals.

U Ethical avoids investing in companies that:

cause unacceptable damage to the natural environment
infringe on human rights
support oppressive regimes
cause or perpetuate injustice and suffering
have unacceptable occupational health and safety practices

Our negative screening approach means we systematically exclude the following industries due to their inherent negative impacts:

Fossil fuels (power generation, exploration and extraction)
Predatory lending
Pornography and adult entertainment
Animal cruelty
Alcohol production
Tobacco manufacturing

01.5. 責任投資アプローチをカバーする組織の投資ポリシーの重要な構成要素、バリエーション、例外事項を簡潔に説明してください。[任意]

In practice, the majority of investments are in companies that are considered to be neutral in terms of the positive and negative screens. Such investments are made on the basis of fundamental investment criteria, assisting U Ethical to exercise good stewardship, and provide a reliable source of income and capital growth. 

We apply a materiality threshold of 5% exposure across our exclusion criteria, as we recognise it can be challenging to screen all negative activity with 100% conviction. In addition, where companies have an insignificant exposure to an excluded activity, this may be outweighed by other positive aspects of their business. 

We also work with peers and industry bodies to promote the ethical approach with participation in working groups, media releases and sponsorships. We are currently involved in numerous collaboration efforts with peers and industry groups to collectively lobby companies.

Our advocacy is applied in recognition of our limited resources. We have traditonally lobbied and sought explanation from industry around two or three critical issues. It is our conscious effort to make a difference. 

We actively vote our proxies (See Voting Policy) and incorporate strong gender diversity targets and remuneration caps. We also seek to actively engage with companies on ethical issues and look to effect positive change via direct engagement and collaboration. We have a documented set of principles stipulating when and how we engage with companies.




01.6. 補足情報 [任意]


SG 01 CC. Climate risk (Private)

SG 02. Publicly available RI policy or guidance documents


02.1. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。








02.2. 一般に入手できる組織の投資ポリシー文書を記載してください。その文書のURLを記入し、該当文書を添付してください。


02.3. 補足情報 [任意]

SG 03. Conflicts of interest

03.1. 組織として、投資プロセスにおける潜在的な利益相反を管理するポリシーを策定しているかどうかについて明示して下さい。

03.2. 投資プロセスにおける潜在的な利益相反を管理するポリシーについて説明してください。

U Ethical has a number of policies in place which address conflicts of interest throughout the investment process, including but not limited to:

U Ethical Best Execution and Trade Allocation Guidelines
U Ethical Segregation of Duties Policy
U Ethical Personal Securities Trading Policy
U Ethical Gifts and Benefits Policy

U Ethical also conducts a quarterly review of its holdings assessing compliance with the Ethical Investment Policy.

A quarterly review of the ASX300 is also conducted for possible breaches of the exclusion criteria within the Ethical Investment Policy. Companies who may engage in practices that do not pass our screening criteria are placed on our public exclusion list, subject to approval from the Investment Committee.

03.3. 補足情報 [任意]

SG 04. Identifying incidents occurring within portfolios (Private)