Our Ethical Fund
Save for the future with ethical investments that align with your values.
What the Ethical Fund invests in
The Ethical Fund invests in hundreds of companies around the world. It invests across many different sectors, including technology, financial services and healthcare.
What the Ethical Fund does not invest in
The fund actively avoids companies and sectors strongly linked to environmental or social harm.
The fund excludes:
- Fossil fuels: as well as fossil fuel producers, any company with revenue linked to fossil fuel-related sources is excluded.
- Companies that make a significant portion of their money from:
- Weapons: controversial weapons, nuclear weapons and civilian firearms
- Tobacco
- Alcohol
- Gambling
- Pornography
- Recreational cannabis
- For-profit prisons
- Non-sustainable palm oil.
- Companies that breach the principles of the UN Global Compact, for example, companies that violate human rights or are involved in corruption.
- Companies involved in a very severe environmental, social or governance (ESG) controversy.
- Companies strongly misaligned with the following UN Sustainable Development Goals:
- Clean Water and Sanitation
- Affordable and Clean Energy
- Responsible Consumption and Production
- Climate Action
- Life Below Water
- Life on Land.
- Companies with ongoing controversies related to environmental harm.
How the Ethical Fund approaches climate change
The fund stays completely fossil fuel‑free and continually works to reduce its carbon emissions over time.
- It does this by investing more in companies that are actively reducing their carbon emissions and transitioning to a low-carbon economy.
- It invests less in polluters and heavy carbon-emitting companies.
This can help reduce the risk climate change might have on your pension savings while taking advantage of the financial opportunities the climate transition can bring.
What is ethical investing?
Ethical investing means choosing or avoiding certain companies and sectors based on personal values. It often involves excluding companies that harm people and the planet.
The priority in ethical investing is alignment with your personal values – this comes before financial performance.
This is different from responsible investing, where financial performance is the priority.
What is responsible investing?
Responsible investing looks at how companies treat people and the planet.
For us, it means using the influence we have as investors to push companies to reduce their harmful impacts and improve their standards. And we still exclude some companies, like those involved in controversial weapons and human rights abuses.
But we do this first and foremost for financial performance, not personal values. It’s how we protect and grow your savings while improving the world you’ll retire into.
