GES Global Ethical Standard

The basis for responsible investment

WHAT IS GES GLOBAL ETHICAL STANDARD?

The GES Global Ethical Standard is the basis for our analyses of companies. It is a tool for engaging in or avoiding investments in companies which are documented to conduct business in a manner contrary to well-established international norms on Environmental, Social and Governance (ESG) issues. The model of analysis is flexible and easy to implement. As a result it only has a minor impact on the investment process. The GES Global Ethical Standard also provides the opportunity of tailor-made solutions for each client's needs.

THE ANALYSIS PROCESS

The GES Global Ethical Standard is based on a systematic screening of international companies regarding their compliance with international conventions and guidelines on environment, human rights and corruption. By way of example this includes:

• UN Global Compact

• OECD Guidelines for Multinational Enterprises

• Human rights conventions

• Environmental conventions

• Weapons-related conventions

The GES Global Ethical Standard is based on the idea that companies have a responsibility to comply with international norms even though they are not legally bound to.

Further well-established norms and/or criteria can be added to GES Global Ethical Standard, provided that they do not conflict with the original norms/criteria.

BASIS FOR DECISION

Exclusion of or engagement with a company is recommended if at least one of the following criteria is met:

• Examination by an official and credible body that confirms the connection between the company and the reported violation.

• Sanctions against the company issued by regional/national courts or an official body.

• The company has admitted responsibility for the incident(s).

If a company that has been included on the list accepts responsibility and takes appropriate action to correct the reported violation and/or takes preventive action to avoid similar occurrences in the future, this is considered a positive development and is added to the analysis. In all cases, it must be possible to verify the company's action to enable a revision of the recommendation.

APPLICATION

The GES Global Ethical Standard covers major world indexes and can be customised with additional companies.

For more information, please contact:
, President and Managing Director
, Managing Director, GES Investment Services Denmark
, Managing Director, GES Investment Services Poland
, Managing Director, GES Investment Services Switzerland