The exclusion list, based on the International Finance Corporation (IFC) and the Guernsey Green Fund rules (see below), is the initial step of our ESG due diligence process. We do not consider production practices that are damaging to our environment and society. We positively select for organisations that act to avoid harm, benefit society, and/ or create solutions to some of our planet’s greatest challenges.
IFC Standard Exclusions
- Production or trade in any product or activity deemed illegal under host country laws or regulations or international conventions and agreements, or subject to international bans, such as pharmaceuticals, pesticides/herbicides, ozone depleting substances, PCBs, wildlife or products regulated under CITES and transboundary movements of waste prohibited under international law.
- Production or trade in weapons and munitions.
- Production of or trade in tobacco.
- Gambling, casinos and equivalent enterprises.
- Production or trade in radioactive materials. This does not apply to the purchase of medical equipment, quality control (measurement) equipment and any equipment where IFC considers the radioactive source to be trivial and/or adequately shielded.
- Production or trade in unbonded asbestos fibres. This does not apply to purchase and use of bonded asbestos cement sheeting where the asbestos content is less than 20%.
- Drift net fishing in the marine environment using nets, or other practices damaging to the marine environment or local communities, as determined by the Cibus funds (See Animal Welfare Policy Criteria).
- Production or activities involving harmful or exploitative forms of forced labour/harmful child labour (see ADM Capital Europe LLP’s Modern Slavery policy).
- Commercial logging operations in primary tropical moist forest or agricultural activities that involve degradation of primary forest.
- Production of or trade in wood or other forestry products other than from sustainably managed forests.
- Activities prohibited by host country legislation or international conventions relating to the protection of biodiversity resources or cultural heritage.
- Animal factory production where animal welfare is not taken into consideration (see Animal Welfare Criteria).
- Trade in goods without required export or import licenses or other evidence of authorisation of transit from the relevant countries of export, import and, if applicable, transit.
Guernsey Green Fund Exclusions
- Uranium mining for nuclear power.
- Any fossil fuel-based power generation including gas, ‘clean’ coal and other coal.
- Efficiency upgrades to greenhouse gas intensive power sources –e.g., clean coal technology.
- Energy savings in fossil fuel extraction activities –emission reduction requirements require a rapid phase-out of all fossil fuel usage. Anything that helps to extend the life of fossil fuel usage is exclude.
- Landfill without gas capture.
- Waste incineration without energy capture.
- Rail lines where fossil fuels [carried as cargo on the trains] account for more than 50% of freight.