AMP Capital has furthered its commitment to ESG and responsible investing by introducing a new decision-making framework. In effect, this means we may exclude, in exceptional circumstances, companies or sectors on ethical grounds across our entire portfolio where AMP Capital is responsible for the investment management.
The new framework recognises and applies degrees of ‘harm’ or the ‘denial of humanity’ of another person as determining factors. It also takes into account whether there are international conventions that prohibit or control the use of a company’s products.
On reviewing all of the sectors in which we invest, AMP Capital concluded that manufacturers of tobacco, cluster munitions, landmines, biological and chemical weapons do not meet the required ethical standards and will be excluded from our investable universe.
AMP Capital will divest from approximately A$450 million worth of tobacco-related equity and fixed income holdings from our portfolios. We will also divest around A$130 million in funds invested indirectly in manufacturers of cluster munitions and landmines.
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As long-term investors, environmental, social and governance (ESG) issues are crucial. They affect the way we invest and inform our global engagement agenda. Each year we select engagement themes based on their financial materiality, our previous engagement with companies and where we believe we can have the greatest impact. They are also the issues we understand to be most important to our clients.
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