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  • Overall approach
    8/10
    • Overarching commitment on deforestation
      4/6
      Overarching commitment
      Deforestation-free commitment
      4/6
      "Fidelity has committed to eliminate commodity-driven deforestation from our investment portfolios by 2025 on a best-efforts basis and will disclose our exposure to deforestation by next year...We expect issuers to understand their dependencies and impacts on biodiversity. Issuers must conduct biodiversity impact assessments of their operations and supply chains and where relevant commit to achieve net zero deforestation within clear timeframes...This extends across the supply chain, from producers of key deforestation risk commodities, such as palm oil, beef, soy, timber and pulp, to food manufacturers"
    • Deforestation as a business risk
      1/1
      Business risk
      Yes
      1/1
      Type of financial risk recognised by the financial institution: Material
      "We also increased our work with companies on other specific climate related risks. For example, we took part in a collaborative engagement with several other asset managers to track deforestation across the supply chain using satellite data as well as continuing to engage on palm oil"
    • Target to reduce emissions in scope 1/2
      Reduce emissions
      Yes
      0/0
      Is the financial institution's climate target aligned with SBTi?: Yes

      Type of climate target: Net-zero emissions

      What is the target date for the financial institution to achieve their climate target?: 2050
      "Our approach to climate change is driven by our overarching objective to cut real-world emissions. We have set targets to help us achieve this: 1) halve the carbon footprint of our investment portfolio by 2030, reaching net zero across portfolios by 2050 (see Appendix 2); and 2) achieve net zero across Fidelity’s own operations by 2030. This policy explains how we intend to meet our investment portfolio target [...] Investment target Halve emissions by 2030; net zero by 2050 [...] We will gradually increase targets to reach 100% alignment with the Paris Agreement across our investment portfolios by 2050."
    • Clients/holdings must have anti-corruption policy
      0.5/1
      Anti-corruption
      Yes, an anti-corruption policy
      0.5/1
      "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly. To this end, the board should ensure that the company has adequate whistle blower, anti-bribery and corruption policies in place and is actively monitoring the application of those policies"
    • Collaborative finance sector initiatives
      2/2
      Collaborative initiatives
      Yes, involved in a collaborative finance sector initiative focused on deforestation; Yes, involved in advocacy for legislation focused on deforestation
      2/2
      Is a 2025 target date encouraged within the collaborative initiative(s)?: Yes

      Which initiative?: Collaboration with Satelligence ; CERES ; Deforestation-Free Forest-Risk Agricultural Commodities ; FAIRR ; Finance for Biodiversity Pledge ; Financial Sector Commitment Letter on Eliminating Commodity Driven Deforestation released at COP26 Natural Capital Investment Alliance ; The Commitment on Eliminating Agricultural Commodity-Driven Deforestation

      Does the financial institution engage ESG data providers on the need for better data on deforestation?: No

      In which location?: Global
      "At COP26, over 100 countries, accounting for 90% of the world’s forests, pledged to halt forest loss and land degradation by 2030. Meanwhile, 30 financial institutions, including Fidelity, agreed to eliminate agricultural commodity-driven deforestation risk from their portfolios by 2025."[...]"In 2020 we joined a collaborative engagement programme, led by ACTIAM, in partnership with Satelligence, a geodata-analytics company, to measure and reduce company-specific deforestation." Fidelity International are also a member of the following CERES ; Deforestation-Free Forest-Risk Agricultural Commodities ; FAIRR ; Finance for Biodiversity Pledge ; Financial Sector Commitment Letter on Eliminating Commodity Driven Deforestation released at COP26Natural Capital Investment Alliance ; The Commitment on Eliminating Agricultural Commodity-Driven Deforestation
    • Nature/people-positive investment
  • Commodity score
    21/90
    • Beef & Leather
      20/90
      • Policy Strength
        12/28
        • Commodity-specific deforestation financing policy
          6.8/8.8
          • Commitment details
            Zero-gross deforestation
            6/8
            Commitment details
            Zero-gross deforestation
            6/8
            Does the policy have specific requirements/expectations of clients/holdings in line with the policy?: No
            " But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            " But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            " But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            " But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers; Financiers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers; Financiers
            0.2/0.2
            " But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
        • Clients/holdings must be legally operated
          1.3/2.8
          • Commitment details
            Clients/holdings own operations - Encouraged
            0.5/2
            Commitment details
            Clients/holdings own operations - Encouraged
            0.5/2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
        • Clients/holdings must monitor operations
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must conduct risk assessments
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must specify a cut-off date
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Target date for policy implementation
          3.8/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            What is the target date for the full implementation of the financial institution's policy?: 2025

            What is the deadline for the portfolio companies to become compliant with the policy?: 2025

            What is the length of time the portfolio companies are given to meet their time-bound plans?: NA
            " But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            " But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            " But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            " But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            " But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
      • Associated Human Rights Abuses
        6/27
        • Clients/holdings must test Free, Prior and Informed Consent
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must have a grievance mechanism
          3.8/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
        • Clients/holdings must respect labour rights
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must address gender equality issues
          1.8/3.8
          • Commitment details
            Clients/holdings must address gender related worker and labour rights only for own operations - Required
            1/3
            Commitment details
            Clients/holdings must address gender related worker and labour rights only for own operations - Required
            1/3
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
        • Clients/holdings must encourage the inclusion of small-scale farmers
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect customary rights to land, resources, and territory
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Zero tolerance approach to violence and threats
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
      • Implementation and Reporting
        2/35
        • Assess client/holding exposure prior to onboarding
          No
          0/5
        • Require disclosure of projects/locations
          No reporting
          0/4
        • Policy is reviewed and updated
          No
          0/2
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant clients/holdings
          No
          0/5
        • Engagement with non-compliant companies
          0/0
        • Reporting on implementation of the policy
          No
          0/6
        • Green financing product with deforestation/conversion requirements
          No
          0/2
        • Publicly accessible grievance mechanism
          Yes
          2/2
          Publicly accessible grievance mechanism
          Yes
          2/2
          Does the financial institution report/publish any of the grievances made against it and/or its clients/holdings in the past 12 months?: No

          What does the grievance mechanism cover?: Deforestation/conversion; Associated human rights
          "To maintain the trust our clients place in us, we strive for the highest standards of conduct and integrity, fostering an open environment in which employees and others can report instances of non-compliance without fear of recrimination." The grievance mechanism form is provided on the site.
        • Remediation of environmental or social harms
          No
          0/4
    • Palm oil
      22/90
      • Policy Strength
        9/28
        • Commodity-specific deforestation financing policy
          6.2/8.8
          • Commitment details
            Zero-gross deforestation
            6/8
            Commitment details
            Zero-gross deforestation
            6/8
            Does the policy have specific requirements/expectations of clients/holdings in line with the policy?: Yes
            "Since 2018, Fidelity has run a thematic engagement on palm oil, advocating for an end to tropical deforestation. We have engaged across the value chain, with a particular focus on palm oil growers in Southeast Asia. We are also widening the scope of our palm oil thematic engagement to cover all key forest risk commodities: palm oil, beef, soy, and paper/timber. Our deforestation engagement will focus on companies and financial institutions where we have material holdings and which we have identified as being highly exposed to tropical deforestation risk. To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management"
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Since 2018, Fidelity has run a thematic engagement on palm oil, advocating for an end to tropical deforestation. We have engaged across the value chain, with a particular focus on palm oil growers in Southeast Asia. We are also widening the scope of our palm oil thematic engagement to cover all key forest risk commodities: palm oil, beef, soy, and paper/timber. Our deforestation engagement will focus on companies and financial institutions where we have material holdings and which we have identified as being highly exposed to tropical deforestation risk. To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management"
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            Producers
            0/0.2
            Policy applies to all stages of the supply chain
            Producers
            0/0.2
            "Since 2018, Fidelity has run a thematic engagement on palm oil, advocating for an end to tropical deforestation. We have engaged across the value chain, with a particular focus on palm oil growers in Southeast Asia. We are also widening the scope of our palm oil thematic engagement to cover all key forest risk commodities: palm oil, beef, soy, and paper/timber. Our deforestation engagement will focus on companies and financial institutions where we have material holdings and which we have identified as being highly exposed to tropical deforestation risk. To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management"
        • Clients/holdings must be legally operated
          1.3/2.8
          • Commitment details
            Clients/holdings own operations - Encouraged
            0.5/2
            Commitment details
            Clients/holdings own operations - Encouraged
            0.5/2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
        • Clients/holdings must monitor operations
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must conduct risk assessments
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must specify a cut-off date
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Target date for policy implementation
          1.7/3.8
          • Commitment details
            Encouraged
            1.5/3
            Commitment details
            Encouraged
            1.5/3
            What is the length of time the portfolio companies are given to meet their time-bound plans?: Unclear

            What is the deadline for the portfolio companies to become compliant with the policy?: 2025

            What is the target date for the full implementation of the financial institution's policy?: 2025
            "Since 2018, Fidelity has run a thematic engagement on palm oil, advocating for an end to tropical deforestation. We have engaged across the value chain, with a particular focus on palm oil growers in Southeast Asia. We are also widening the scope of our palm oil thematic engagement to cover all key forest risk commodities: palm oil, beef, soy, and paper/timber. Our deforestation engagement will focus on companies and financial institutions where we have material holdings and which we have identified as being highly exposed to tropical deforestation risk. To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management"
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Since 2018, Fidelity has run a thematic engagement on palm oil, advocating for an end to tropical deforestation. We have engaged across the value chain, with a particular focus on palm oil growers in Southeast Asia. We are also widening the scope of our palm oil thematic engagement to cover all key forest risk commodities: palm oil, beef, soy, and paper/timber. Our deforestation engagement will focus on companies and financial institutions where we have material holdings and which we have identified as being highly exposed to tropical deforestation risk. To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management"
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            Producers
            0/0.2
            Policy applies to all stages of the supply chain
            Producers
            0/0.2
            "Since 2018, Fidelity has run a thematic engagement on palm oil, advocating for an end to tropical deforestation. We have engaged across the value chain, with a particular focus on palm oil growers in Southeast Asia. We are also widening the scope of our palm oil thematic engagement to cover all key forest risk commodities: palm oil, beef, soy, and paper/timber. Our deforestation engagement will focus on companies and financial institutions where we have material holdings and which we have identified as being highly exposed to tropical deforestation risk. To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management"
      • Associated Human Rights Abuses
        6/27
        • Clients/holdings must test Free, Prior and Informed Consent
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must have a grievance mechanism
          3.8/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers; Financiers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers; Financiers
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
        • Clients/holdings must respect labour rights
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must address gender equality issues
          1.8/3.8
          • Commitment details
            Clients/holdings must address gender related worker and labour rights only for own operations - Required
            1/3
            Commitment details
            Clients/holdings must address gender related worker and labour rights only for own operations - Required
            1/3
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
        • Clients/holdings must encourage the inclusion of small-scale farmers
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect customary rights to land, resources, and territory
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Zero tolerance approach to violence and threats
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
      • Implementation and Reporting
        7/35
        • Assess client/holding exposure prior to onboarding
          No
          0/5
        • Require disclosure of projects/locations
          No reporting
          0/4
        • Policy is reviewed and updated
          Annual or more frequent review
          2/2
          Policy is reviewed and updated
          Annual or more frequent review
          2/2
          "SIOC meets monthly to review the sustainable investing activities of the firm and this Policy is reviewed and updated at least annually (and more frequently as required). The overall governance and structure of the Committee and associated elements is set out below."
        • Monitoring and non-compliance process
          Adhoc/less than annual audits
          2.5/5
          Monitoring and non-compliance process
          Adhoc/less than annual audits
          2.5/5
          Does the financial institution prioritise clients/holdings for engagement based on their compliance monitoring? If yes, do they use thresholds/cut offs to identify these clients/holdings?: NA

          Does the financial institution assess the severity of any non-compliance on the ground in forest-risk commodity supply chains in line with the guidance of the Accountability Framework?: No
          "The group conducted engagements with multiple companies to address cases of deforestation, detected through the use of satellite data, calling for companies to implement policies and improve governance to eliminate deforestation from their activities."
        • Engagement with non-compliant clients/holdings
          No
          0/5
        • Engagement with non-compliant companies
          0/0
        • Reporting on implementation of the policy
          No
          0/6
        • Green financing product with deforestation/conversion requirements
          No
          0/2
        • Publicly accessible grievance mechanism
          Yes
          2/2
          Publicly accessible grievance mechanism
          Yes
          2/2
          Does the financial institution report/publish any of the grievances made against it and/or its clients/holdings in the past 12 months?: No

          What does the grievance mechanism cover?: Deforestation/conversion; Associated human rights
          "To maintain the trust our clients place in us, we strive for the highest standards of conduct and integrity, fostering an open environment in which employees and others can report instances of non-compliance without fear of recrimination." The grievance mechanism form is provided on the site.
        • Remediation of environmental or social harms
          No
          0/4
    • Soy
      22/90
      • Policy Strength
        12/28
        • Commodity-specific deforestation financing policy
          6.8/8.8
          • Commitment details
            Zero-gross deforestation
            6/8
            Commitment details
            Zero-gross deforestation
            6/8
            Does the policy have specific requirements/expectations of clients/holdings in line with the policy?: No
            "To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management...We ... believe it is essential for the companies we invest in... to achieve net zero deforestation objectives within clear timeframes. Such companies include producers of palm oil, cocoa or soy"
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management...We ... believe it is essential for the companies we invest in... to achieve net zero deforestation objectives within clear timeframes. Such companies include producers of palm oil, cocoa or soy"
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management...We ... believe it is essential for the companies we invest in... to achieve net zero deforestation objectives within clear timeframes. Such companies include producers of palm oil, cocoa or soy"
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management...We ... believe it is essential for the companies we invest in... to achieve net zero deforestation objectives within clear timeframes. Such companies include producers of palm oil, cocoa or soy"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers; Financiers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers; Financiers
            0.2/0.2
            "To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management...We ... believe it is essential for the companies we invest in... to achieve net zero deforestation objectives within clear timeframes. Such companies include producers of palm oil, cocoa or soy"
        • Clients/holdings must be legally operated
          1.3/2.8
          • Commitment details
            Clients/holdings own operations - Encouraged
            0.5/2
            Commitment details
            Clients/holdings own operations - Encouraged
            0.5/2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
        • Clients/holdings must monitor operations
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must conduct risk assessments
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must specify a cut-off date
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Target date for policy implementation
          3.8/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            What is the length of time the portfolio companies are given to meet their time-bound plans?: 3 years

            What is the target date for the full implementation of the financial institution's policy?: 2025

            What is the deadline for the portfolio companies to become compliant with the policy?: 2025
            "To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management...We ... believe it is essential for the companies we invest in... to achieve net zero deforestation objectives within clear timeframes. Such companies include producers of palm oil, cocoa or soy"
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management...We ... believe it is essential for the companies we invest in... to achieve net zero deforestation objectives within clear timeframes. Such companies include producers of palm oil, cocoa or soy"
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management...We ... believe it is essential for the companies we invest in... to achieve net zero deforestation objectives within clear timeframes. Such companies include producers of palm oil, cocoa or soy"
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management...We ... believe it is essential for the companies we invest in... to achieve net zero deforestation objectives within clear timeframes. Such companies include producers of palm oil, cocoa or soy"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers; Financiers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers; Financiers
            0.2/0.2
            "To eliminate agricultural commodity-driven deforestation risks across our investment portfolios by 2025 we will focus on encouraging boards to act on the issue as a matter of urgency, through timebound zero deforestation commitments and improved supply chain management...We ... believe it is essential for the companies we invest in... to achieve net zero deforestation objectives within clear timeframes. Such companies include producers of palm oil, cocoa or soy"
      • Associated Human Rights Abuses
        6/27
        • Clients/holdings must test Free, Prior and Informed Consent
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must have a grievance mechanism
          3.8/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
        • Clients/holdings must respect labour rights
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must address gender equality issues
          1.8/3.8
          • Commitment details
            Clients/holdings must address gender related worker and labour rights only for own operations - Required
            1/3
            Commitment details
            Clients/holdings must address gender related worker and labour rights only for own operations - Required
            1/3
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
        • Clients/holdings must encourage the inclusion of small-scale farmers
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect customary rights to land, resources, and territory
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Zero tolerance approach to violence and threats
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
      • Implementation and Reporting
        4/35
        • Assess client/holding exposure prior to onboarding
          No
          0/5
        • Require disclosure of projects/locations
          No reporting
          0/4
        • Policy is reviewed and updated
          Annual or more frequent review
          2/2
          Policy is reviewed and updated
          Annual or more frequent review
          2/2
          "SIOC meets monthly to review the sustainable investing activities of the firm and this Policy is reviewed and updated at least annually (and more frequently as required). The overall governance and structure of the Committee and associated elements is set out below."
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant clients/holdings
          No
          0/5
        • Engagement with non-compliant companies
          0/0
        • Reporting on implementation of the policy
          No
          0/6
        • Green financing product with deforestation/conversion requirements
          No
          0/2
        • Publicly accessible grievance mechanism
          Yes
          2/2
          Publicly accessible grievance mechanism
          Yes
          2/2
          Does the financial institution report/publish any of the grievances made against it and/or its clients/holdings in the past 12 months?: Yes

          What does the grievance mechanism cover?: Deforestation/conversion; Associated human rights
          "To maintain the trust our clients place in us, we strive for the highest standards of conduct and integrity, fostering an open environment in which employees and others can report instances of non-compliance without fear of recrimination." The grievance mechanism form is provided on the site.
        • Remediation of environmental or social harms
          No
          0/4
    • Timber, Pulp & Paper
      20/90
      • Policy Strength
        12/28
        • Commodity-specific deforestation financing policy
          6.8/8.8
          • Commitment details
            Zero-gross deforestation
            6/8
            Commitment details
            Zero-gross deforestation
            6/8
            Does the policy have specific requirements/expectations of clients/holdings in line with the policy?: No
            "We are ramping up our deforestation-focused engagements. Deforestation has long been a focus of our engagements. Fidelity has run a thematic engagement on palm oil for many years, advocating for an end to tropical deforestation. But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "We are ramping up our deforestation-focused engagements. Deforestation has long been a focus of our engagements. Fidelity has run a thematic engagement on palm oil for many years, advocating for an end to tropical deforestation. But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "We are ramping up our deforestation-focused engagements. Deforestation has long been a focus of our engagements. Fidelity has run a thematic engagement on palm oil for many years, advocating for an end to tropical deforestation. But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "We are ramping up our deforestation-focused engagements. Deforestation has long been a focus of our engagements. Fidelity has run a thematic engagement on palm oil for many years, advocating for an end to tropical deforestation. But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "We are ramping up our deforestation-focused engagements. Deforestation has long been a focus of our engagements. Fidelity has run a thematic engagement on palm oil for many years, advocating for an end to tropical deforestation. But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
        • Clients/holdings must be legally operated
          1.3/2.8
          • Commitment details
            Clients/holdings own operations - Encouraged
            0.5/2
            Commitment details
            Clients/holdings own operations - Encouraged
            0.5/2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "The board should ensure that the company fosters a culture of acting lawfully, ethically and responsibly"
        • Clients/holdings must monitor operations
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must conduct risk assessments
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must specify a cut-off date
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Target date for policy implementation
          3.8/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            What is the length of time the portfolio companies are given to meet their time-bound plans?: Unclear

            What is the target date for the full implementation of the financial institution's policy?: 2025

            What is the deadline for the portfolio companies to become compliant with the policy?: 2025
            "We are ramping up our deforestation-focused engagements. Deforestation has long been a focus of our engagements. Fidelity has run a thematic engagement on palm oil for many years, advocating for an end to tropical deforestation. But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "We are ramping up our deforestation-focused engagements. Deforestation has long been a focus of our engagements. Fidelity has run a thematic engagement on palm oil for many years, advocating for an end to tropical deforestation. But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "We are ramping up our deforestation-focused engagements. Deforestation has long been a focus of our engagements. Fidelity has run a thematic engagement on palm oil for many years, advocating for an end to tropical deforestation. But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "We are ramping up our deforestation-focused engagements. Deforestation has long been a focus of our engagements. Fidelity has run a thematic engagement on palm oil for many years, advocating for an end to tropical deforestation. But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "We are ramping up our deforestation-focused engagements. Deforestation has long been a focus of our engagements. Fidelity has run a thematic engagement on palm oil for many years, advocating for an end to tropical deforestation. But in 2022, we widened the scope of our palm oil thematic engagement to create a deforestation thematic engagement covering all key forest risk commodities: palm oil, beef/leather, soy, and paper/timber in light of our pledge to eliminate agricultural commodity driven deforestation risks from portfolios by 2025. "
      • Associated Human Rights Abuses
        6/27
        • Clients/holdings must test Free, Prior and Informed Consent
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must have a grievance mechanism
          3.8/3.8
          • Commitment details
            Required
            3/3
            Commitment details
            Required
            3/3
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "We expect issuers to practice fair treatment of workers, including contractors and sub-contractors, and we look for decent wages, collective bargaining policies, freedom of association and grievance mechanisms"
        • Clients/holdings must respect labour rights
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must address gender equality issues
          1.8/3.8
          • Commitment details
            Clients/holdings must address gender related worker and labour rights only for own operations - Required
            1/3
            Commitment details
            Clients/holdings must address gender related worker and labour rights only for own operations - Required
            1/3
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all operations and financing
            All financing
            0.2/0.2
            Policy applies to all operations and financing
            All financing
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all deals
            All financing
            0.2/0.2
            Policy applies to all deals
            All financing
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all clients/holdings
            All financing
            0.2/0.2
            Policy applies to all clients/holdings
            All financing
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.2/0.2
            "Gender diversity Our voting policy is designed to encourage gender balanced boards and takes into account the recommendations of key initiatives on female representation. We expect our investee companies to: - Establish and uphold comprehensive and effective diversity and non discrimination policies. - Regularly review their hiring and promotion practices to ensure against bias, and to set ambitious diversity targets appropriate to the business. - Demonstrate alignment with our belief that diversity helps deliver long-term shareholder value. Where companies fall short of our minimum expectations of having at least 30% female board representation in the most developed markets and 15% in all other markets, we will vote against management."
        • Clients/holdings must encourage the inclusion of small-scale farmers
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Clients/holdings must respect customary rights to land, resources, and territory
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
        • Zero tolerance approach to violence and threats
          0/3.8
          • Commitment details
            No commitment
            0/3
          • Policy applies to all operations and financing
            No
            0/0.2
          • Policy applies to all deals
            No
            0/0.2
          • Policy applies to all clients/holdings
            No
            0/0.2
          • Policy applies to all stages of the supply chain
            None
            0/0.2
      • Implementation and Reporting
        2/35
        • Assess client/holding exposure prior to onboarding
          No
          0/5
        • Require disclosure of projects/locations
          No reporting
          0/4
        • Policy is reviewed and updated
          No
          0/2
        • Monitoring and non-compliance process
          No
          0/5
        • Engagement with non-compliant companies
          0/0
        • Engagement with non-compliant clients/holdings
          No
          0/5
        • Reporting on implementation of the policy
          No
          0/6
        • Green financing product with deforestation/conversion requirements
          No
          0/2
        • Publicly accessible grievance mechanism
          Yes
          2/2
          Publicly accessible grievance mechanism
          Yes
          2/2
          Does the financial institution report/publish any of the grievances made against it and/or its clients/holdings in the past 12 months?: No

          What does the grievance mechanism cover?: Deforestation/conversion; Associated human rights
          "To maintain the trust our clients place in us, we strive for the highest standards of conduct and integrity, fostering an open environment in which employees and others can report instances of non-compliance without fear of recrimination." The grievance mechanism form is provided on the site.
        • Remediation of environmental or social harms
          No
          0/4
  • Commitment strength
    12/28
    Avg. score
  • Implementation and Reporting
    4/35
    Avg. score
  • Associated Human Rights Abuses
    6/27
    Avg. score

Profile

Fidelity International are a financial services company, headquartered in Bermuda, that serves private and institutional clients. Their services include mutual funds and pension management. As of 2022, their total assets under management amount to over 665 billion USD.

HQ
HQ 
Bermuda
Financial institution type
Financial institution type 
FI

How we assess the Forest 500

Investors and lenders need to adopt and implement strong deforestation policies that ensure their investments are not funding the destruction of forests.

All assessments use policies published on financial institution websites, some links may have changed or been removed since the time of assessment.