Pendal Horizon Fund – our approach to mining
We recently re-designed the Pendal Horizon Fund (formerly known as Pendal Ethical Share Fund) to better help investors benefit from the opportunities driven by Australia’s transition to a more sustainable economy.
PENDAL recently made several material changes to the Pendal Horizon Fund — formerly known as Pendal Ethical Share Fund. The changes include an expanded set of exclusionary screens and a new framework to support in the identification of companies which are leading or enabling the drive to a future-ready economy. As part of this approach, we avoid companies whose industries, business models and products or services undermine a more sustainable economy or cause significant harm to society and the environment. We established a range of sector/activity-based exclusionary screens that effectively knock out harmful companies from the investable universe at the outset. These screens cover sectors such as fossil fuel extraction, weapons, gambling and logging. Some values-based investors might be surprised to see companies that mine non-fossil fuel-related minerals such as iron ore and gold not formally excluded from the fund. To better appreciate Pendal’s approach to mining within the fund, we produced this guide to explain it’s important to understand the fund’s sustainability-related priorities.
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