Our fixed income investments are based on several screening activities. Firstly, we require our investees to adhere to exclusion lists. Amongst others, funding may not be used to finance activities involving forced labour, radioactive materials, unbound asbestos fibres, hazardous chemicals, or wood or other forestry products from unsustainably managed forests ("negative screening"). Secondly, since we seek to achieve positive impact, our investments are based on investment guidelines and in certain cases "green lists", which stipulate what investments are eligible. For instance, certain investments need to achieve a 20% reduction in energy consumption and/or a 20% reduction in CO2 emissions, or contribute to sustainable land use ("positive screening"). Thirdly, we apply environmental and social (E&S) requirements in alignment with good industry practice when analysing investments during due diligence processes ("norms-based screening"). This involves an assessment of the Environmental and Social Management Systems of financial institutions we invest in, and a full E&S due diligence based on IFC performance standards for our direct investments. Similarly, analysing governance aspects is part of our standard due diligence process.