(Live copy) Responsible investment

Responsible investment principles underpin our investment approach

To contribute to a sustainable economy and society, we seek to collaborate with our clients, competitors and broader stakeholders. We do this by participating in industry forums, actively engaging with investee companies, regulators and policy makers, and publishing thought leadership.

At firm level we are currently focused on the following four key issues: climate change, human rights and modern slavery, diversity, and nature and biodiversity.

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Our climate metrics and target

Climate Change Action Plan

2023 progress update

Climate Change Statement

covering 1 July 2023 - 31 December 2023

Feature: Embodied carbon in buildings

Through comprehensive research, our Global Property Securities team developed a tool[1] capable of undertaking high level analysis on all embodied carbon associated with development, redevelopment, and maintenance capital expenditure programmes at a company level.

Feature: Nature and biodiversity toolkit

The unprecedented threats to nature and biodiversity, fundamental to our global economy and the fight against climate change is prompting investors to assess and disclose nature-related risks. To help investors start assessing nature, we have developed a guide that outlines a due diligence approach and resources, focusing on freshwater and forests.

Feature: Human rights and conflict

In 2022, we updated our Human Rights Toolkit to provide additional guidance on the human rights implications of armed conflict, informed by human rights experts. Read about how we used this toolkit to engage with companies amidst the Russia/Ukraine conflict.

Feature: Stewart Investors - Conflict minerals engagement: forging industry relationships

Stewart Investors is the convenor of the multi-year collaborative engagement initiative: 'Tackling conflict mineral content in the semicondcutor supply chain'. Tin, tungsten, tantalum, and gold (referred to collectively as conflict minerals) along with cobalt, are essential building blocks of the semiconductor industry. The poor traceability of these minerals among complex supply chains can make it hard to trace their source, which may often be in conflict-affected regions, and inadvertently finance armed conflict and the abuse of human rights.

Feature: Investors Against Slavery and Trafficking APAC (IAST APAC)

Investors Against Slavery and Trafficking APAC (IAST APAC) is an investor-led, multi-stakeholder project. It was established in 2020 to engage listed companies in the Asia-Pacific region to find, fix and prevent modern slavery in their operations and supply chains. IAST APAC comprises 42 investors with A$9.4 trillion in assets under management[2], with Walk Free and the Finance Against Slavery and Trafficking (FAST) initiative acting as knowledge partners and Walk Free as Secretariat.

Feature: Microplastics policy advocacy

Microfibres have been finding their way into our beaches, rivers and deep ocean, in the air we breathe and the food we eat for decades. Research by the First Sentier MUFG Sustainable Investment Institute (SII) outlines the sources and distribution of microfibre pollution, reasons for its urgent address and steps to prevent it. First Sentier Investors is leading, in collaboration with the UK’s Marine Conservation Society, a program to engage with the manufacturers of domestic and commercial washing machines to fit filtration technology to their products, as a standard feature. In addition to engaging with companies, we have engaged with a number of regulators as part of this initiative.

A snapshot of our progress

Five year trend data from 31 December 2018 to 31 December 2023. The data set out above are estimates based on data sourced by First Sentier Investors. This data is current as at 31 December 2023. It is based on information and representations sourced from third parties (including portfolio companies), that may not be externally audited, which may ultimately prove to be inaccurate. No assurance is given or liability accepted regarding the accuracy, validity or completeness of this data and no reliance should be placed on it by any third party.

¹ Assets under management.
² TNFD is Taskforce on Nature-related Financial Disclosures.

As long-term investors, we know that the decisions we make impact communities today, tomorrow and years from now. Responsible investment and stewardship are at the core of how we operate as a business and allocate capital, and we are committed to transparency and accountability regarding our performance in this area.

¹ Ernst & Young was engaged by First Sentier Investors’ Global Property Securities team to undertake ‘limited assurance’ as defined by International Auditing Standards, over First Sentier Investor’s Portfolio Operational Carbon Emissions (Scope 1 and 2) Forecast to Net Zero for the year ended 30 June 2021. Based on the review, Ernst & Young determined the forecast was prepared and presented fairly, in all material respects, in accordance with the defined Criteria.

² According to IAST APAC Annual Report FY 2022-23

The commitments and targets set out on this website are current as of today’s date. They have been formulated by the relevant First Sentier Investors (FSI) investment team in accordance with either internally developed proprietary frameworks or are otherwise, based on the Institutional Investors Group on Climate Change’s (IIGCC) Paris Aligned Investment Initiative framework. The commitments and targets are based on information and representations made to the relevant investment teams by portfolio companies (which may ultimately prove not be accurate), together with assumptions made by the relevant investment team in relation to future matters such as government policy implementation in ESG and other climate-related areas, enhanced future technology and the actions of portfolio companies (all of which are subject to change over time). As such, achievement of these commitments and targets set out on this website depend on the ongoing accuracy of such information and representations as well as the realisation of such future matters. FSI will report on progress made towards achieving these targets on an annual basis in its Climate Change Action Plan. The commitments and targets set out on this website are continuously reviewed by the relevant investment teams and subject to change without notice.

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First Sentier Investors became a Certified B Corporation in November 2022 with a score = 107.2, noting that the passing score is 80. Please visit the B Corp Directory to view our report and for additional information regarding the assessment process.

Material on this website is intended to provide general information to ‘wholesale clients’ (as defined in the Financial Markets Conduct Act 2013) only. Such material does not take into account the objectives, financial situation or needs of any particular individual. No material on this website may be provided or passed on to individuals who qualify as ‘retail clients’ (as defined in the Financial Markets Conduct Act 2013).

Any opinions expressed in the material are the opinions of the individual author and are subject to change without notice. Such opinions: (i) are not a recommendation to hold, purchase or sell a particular financial product; (ii) may not include all of the information required to make such a decision; and (iii) may differ from the opinions of other individuals within First Sentier Investors.

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Responsible investment

Mark Steinberg

Responsible investment principles underpin our investment approach

Our focus areas

Climate change

Human rights and modern slavery

Diversity

Nature and biodiversity

Our net zero journey