Schroder ISF Carbon Neutral Credit
LU2343327321
| Issuer | Schroders |
|---|---|
| Fund provider | Schroder Investment Management (Europe) S.A |
| Fund type/Asset class | Bond fund |
| Legal form | SICAV |
| Fund issue date | - |
| Last Update | 15.01.2025 |
| Benchmark | The Bloomberg Multiverse ex Treasury A+ to B- EUR hedged is used as a reference comparator |
| Tranche | Private Investors Institutional Investors |
Risk Indicator (PRIIP)
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Licensed in
D,
A,
CH,
LU
Classification by SFDR
Article 9
EU Taxonomy
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% of Sustainable Investments according to SFDR
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Principal Adverse Impacts
Greenhouse Gas Emissions
Water
Waste
Biodiversity
Energy Efficiency and Fossil Fuels
Social and Employee Matters
Sustainable Development Goals
No explicit details regarding the Sustainable Development Goals
Normal allocation
| Equities | Excluded |
|---|---|
| Bonds | |
| Money market/Bank deposits | 0 % |
| Commodities | Excluded |
| Direct investments | Excluded |
| Derivatives | 0 % |
| Other | - |
Sustainability approach
| Principal Adverse Impacts |
Greenhouse Gas Emissions
Water
Waste
Biodiversity
Energy Efficiency and Fossil Fuels
Social and Employee Matters
PAI indicators are accounted for by both qualitative and quantitative approaches. Where it is not feasible to set quantitative thresholds, the Investment Manager engages. If a company fails to satisfy the quantitative thresholds, it would be excluded. We make a qualitative assessments if the data available does not enable us to make a quantitative determination regarding whether significant harm is done so as to warrant excluding an investment. In such cases, the Investment Manager engages wherever possible. |
|---|---|
| Further remarks on the consideration of SDGs | - |
| Rationale behind classification according to SFDR | Article 9 The Fund’s sustainable investment objective is to achieve aggregate carbon neutrality by the year 2025 within its investment portfolio by investing at least 80% of its assets in (i) sustainable investments, which are investments that contribute towards the objective of carbon emission reduction by aiming for, and being on track to achieve, 80% emission reductions by 2030 and (ii) investments that the Investment Manager deems to be neutral under its sustainability criteria. The Fund will aim to offset residual portfolio emissions with avoided emissions, in order for the portfolio to achieve net zero emissions by 2025. |
| Engagement | Yes, organized internally Link to engagement policy |
| Voting | n/a Bond fund Link to voting policy |
| Best-in/of-Class | Best-In-Class The fund applies a best-in-class approach that is based on credible exclusions, our internal, proprietary ESG assessment, as well as third party ESG ratings. This approach results in a better sustainability profile for the fund compared to the reference comparator. While we continuously search for improving ESG stories also through engagement, we limit or divest ESG laggards in the fund. To be eligible for investment, companies must fall into the category of climate leaders or improvers and must meet one of the following criteria: 1. Companies committed to carbon neutrality by 2025 (based on scope 1 and 2 emissions) 2. Companies that have set a target to reduce its carbon intensity by at least 80% by 2030 3. Low emitters with projected 2030 carbon intensity at least 80% below the sector average 4. Companies that create emission savings in the economy |
| ESG-Integration | Yes We firmly believe that non-financial considerations including environmental, social and governance issues have a material influence on the sustainability of issuer cash-flows. ESG is fully integrated into our investment process. The strategy is powered by the following pillars: – Proprietary science-based carbon neutral data based screening – Exclusions of controversial sectors and activities – Forward-looking fundamental credit assessment, ESG integration and engagement – Portfolio construction. |
| Norm-based screening |
UN Global Compact
OECD Guidelines for Multinational Enterprises
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| Themes |
Climate change
Agriculture and forestry
Renewable Energies
Biodiversity
Water
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| Impact Investing |
Environmental
The Fund’s sustainable investment objective is to aim to achieve aggregate carbon neutrality by the year 2025 within its investment portfolio by investing at least 80% of its assets in fixed and floating rate securities issued by governments, government agencies, supra-nationals and companies worldwide which contribute towards the objective of carbon emission reduction by aiming for, and being on track to achieve, 80% emission reductions by 2030. The Fund may also invest in investments that the Investment Manager deems to be neutral under its sustainability criteria, such as cash and Money Market Investments and derivatives used with the aim of reducing risk (hedging) or managing the Fund more efficiently. The Fund will aim to offset residual portfolio emissions with avoided emissions, in order for the portfolio to achieve net zero emissions by 2025.
Aggregate carbon neutrality means achieving net zero carbon emissions intensity by balancing investments in (i) issuers that generate carbon emissions, but that have stated goals to reduce such emissions with (ii) issuers that contribute to reducing carbon emissions.
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| Further information on the sustainability approach | Link to sustainability approach |
Research and Transparency
| In-house sustainability analysis | Yes, 40+ global sustainability/credit analysts and 15+ firm-wide sustainability analysts |
|---|---|
| Research partners | Yes Schroders' subscribes to external ESG research providers including; MSCI ESG research, Bloomberg, Refinitiv, Sustainalytics and Morningstar |
| Percentage of portfolio with sustainability analysis | 100 % |
| Strategically important suppliers included | Yes |
| Sustainability advisory committee | Advisory |
| Analysis of portfolio CO2 | Yes, both forward and backword-looking indicator |
| Sustainability reporting | Yes https://www.schroders.com/de-de/de/institutionelle/fonds/#/fund/SCHDR_F000018992/schroder-international-selection-fund-carbon-neutral-credit-i-accumulation-eur/LU2343327677/profile |
| At least monthly portfolio publication | Yes Link to monthly portfolio publication |
| Certification/Label awarded by independent auditors |
FNG Label ★★★
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Environmental
Exclusion of sectors / areas of business – companies
| Fossil fuels (Coal, Oil and Gas) | Yes 5 % Turnover threshold |
|---|---|
| Nuclear power (operation and components) | Yes 5 % Turnover threshold |
| Green genetic engineering | No |
| Chlorine and agrochemicals (biocides) | No |
| Other | Issuer on Carbon Underground 200 list; Oil, gas and coal power generators (5%); Oils sands (5%) 5 % Turnover threshold |
Exclusion of business practices – companies
| Environmentally damaging behaviour | Yes |
|---|---|
| Damage to biodiversity | No |
| Other | UNGC violation, Energy generation from oil, gas, thermal coal and nuclear (5%), Carbon Underground 200 list |
Exclusion criteria – countries
| Non-ratification of the Paris Climate Agreement | Yes |
|---|---|
| Non-ratification of the Protocol on Biosafety | No |
| Non-ratification of the UN Biodiversity Convention | Yes |
| Nuclear power by proportion of gross energy production | No |
| Other | - |
Social
Exclusion of sectors / areas of business – companies
| Weapons/Armaments | Yes |
|---|---|
| Cluster bombs and anti-personnel mines | Yes |
| Weapons of mass destruction (ABC/CBRN) | Yes |
| Tobacco products | Yes 5 % Turnover threshold |
| Pornography | Yes 5 % Turnover threshold |
| Spirits/Alcohol | No |
| Gambling | Yes 5 % Turnover threshold |
| Other | Civilian Firearms/Conventional Weapons 5 % Turnover threshold |
Exclusion of business practices – companies
| Labour rights (ILO core labour standards) | Yes |
|---|---|
| Exploitative child labour | No |
| Violation of human rights | Yes |
| Animal testing | No |
| Other | - |
Exclusion criteria – countries
| Labour rights | No |
|---|---|
| Violation of human rights | No |
| Military spending as a percentage of GDP | No |
| Death penalty, torture | No |
| Countries classified by Freedom House as not free | Yes |
| Violations of the Nuclear Non-Proliferation Treaty | Yes |
| Violations of other non-proliferation treaties | No |
| Other | - |
Governance
Exclusion of business practices – companies
| Corruption and bribery | Yes |
|---|---|
| Tax: planned avoidance & detected violations | No |
| Other | - |
Exclusion criteria – countries
| Corruption | Yes |
|---|---|
| Other | - |
More on data availability
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EU Taxonomy
It is possible that reported KPIs for taxonomy eligibility and alignment (being limited to corporate issuers / including only selected economic activities) are low or that KPIs cannot be reported due to limited data availability. Data may be available with a time lag. Data comparability may be limited due to differences in the scope of the economic activities considered. As soon as data is available in sufficient quantity and quality, it will be published in accordance with regulatory requirements.
Quelle: Unternehmensangaben. | Für die Angaben der Unternehmen kann keine Haftung übernommen werden. Die Angaben dienen nur zur Information und stellen keine Beratung oder Empfehlung dar. Bitte beachten Sie den Haftungsausschluss unter www.forum-ng.org/disclaimer. Das FNG-Nachhaltigkeitsprofil bietet nur einen ersten Überblick und ist kein Ersatz für eine eigenständige Analyse. Weiterführende Erläuterungen finden Sie unter www.forum-ng.org
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