The exclusion Criteria

At the beginning of the evaluation process a preselection based on specific exclusion criteria is made. Those enterprises are isolated, whose activities or behavior are judged in such a negative manner under the ethical criterion that their shares are not applicable for the admission into the sustainability funds. The number of the exclusion criteria as well as their application and interpretation differ quite substantially between the single fund offerers.

The most usual exclusion criteria are the activity or obtaining of a conversion in the ranges alcohol, automobile, airplane, nuclear energy, nuclear power, chlorine and Agro chemicals, pornography, armament, weapons, play trades and tobacco as well as Biopiraterie and genetic engineering in the agriculture. The following behavior are not tolerated: Relationship with force regime, child and forced labour, slavery, corruption, money laundry, drug business as well as the violation of human rights.

Concerning the exclusion criteria, two groups have formed. The one, which applies strict exclusion criteria, the other, which only defined minimal criteria. Moreover, the exclusion criteria point out how the term sustainability is understood by the fund offerers.

The ones represent the point of view, sustainable managing is possible in all industries, the others believe that certain sectors cannot be sustainable per definition.