Harbour T. Rowe Price Global Equity Fund (Hedged)

Companies of concern

• Human Rights Violations

  • Meta Platforms, Inc. 1.90%
    Public Safety

    Where companies are involved in significant harm to individuals or communities, through the unsafe nature of their products or delivery of services and inadequate response to evidence of harm.

    META PLATFORMS, INC. Public Safety

    Meta is the world’s largest online social network consisting of the Facebook app, Instagram, Messenger, WhatsApp, and many features surrounding these products. The company has faced several investigations and legal action linked to privacy-related allegations, including its handling of user data, and breaches of user privacy. Meta has also been criticised for its poor governance model, as well as allowing its platform in non-English speaking countries to be used to incite ethnic violence.

  • Uber Technologies, Inc. 0.56%
    Labour Rights Violations

    Where the actions of companies have violated global standards on labour rights and freedoms; including poor treatment of workers, child and forced labour, and modern slavery.

    UBER TECHNOLOGIES, INC. Labour Rights Violations

    Uber is a ride and food delivery service provider. Evidence shows the company has been prioritising revenue growth over driver welfare and user safety. As Uber considers its drivers to be contractors, this limits their employee rights to the minimum wage and other benefits, meaning drivers and vehicles are not subject to the labour standards expected from traditional taxi companies.

  • Thermo Fisher Scientific 0.52%
    Human Rights Abuses

    Where the actions of companies have violated global standards on human rights and freedoms including customary rights of indigenous people.

    THERMO FISHER SCIENTIFIC Human Rights Abuses

    Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. Thermo Fisher DNA testing kits have been linked to surveillance and discriminatory purposes by the legal authorities in Xinjiang (a region of China) for monitoring and tracking the Muslim Uyghur ethnic group and other minorities. Evidence shows Thermo Fisher Scientific continues to supply DNA sequencing products to the Xinjiang region, despite the company announcing it would halt sales to the region in 2019.

• Environmental Harm

  • BHP Group 0.26% !!
    This company is expanding their fossil fuel production and
    is off track with the UN target to limit global temperature
    rise to 1.5°C
    Environmental Damage

    Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.

    Fossil Fuel Production

    Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.

    BHP GROUP Environmental Damage Fossil Fuel Production

    One of the world's largest mining companies, headquartered in Australia with operations globally. In 2015 Samarco (a BHP joint venture with Vale SA) caused the Mariana dam disaster releasing huge quantities of heavy metal waste into the Doce River basin. This is the largest pollution incident ever recorded and devastated communities and the ecosystem. BHP also mines thermal coal. While it sold some coal mines, it will continue to operate the Mt Arthur mine in New South Wales until 2030.

• Animal Cruelty

  • Procter & Gamble Co. 0.54%
    Animal Testing

    Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.

  • Unilever PLC 0.52%
    Animal Testing

    Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.

    UNILEVER PLC Animal Testing

    Diversified personal-care, homecare, and packaged food company. The company states that its products are sold in countries where animal testing of cosmetic products is required by law.

  • Colgate-Palmolive Co. 0.32%
    Animal Testing

    Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.

  • Reliance Industries Ltd. 0.31% !!
    This company is expanding their fossil fuel production and
    is off track with the UN target to limit global temperature
    rise to 1.5°C
    Animal Testing

    Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.

    Fossil Fuel Production

    Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.

  • Prada Spa 0.18%
    Fur & Speciality Leather

    Where companies are involved in the production or retail of fur & speciality leather products (where animals are raised purely for skins).

• Weapons

  • Airbus 0.55%
    Controversial Weapons

    Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.

    Military Weapons

    Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.

    Nuclear Weapons

    Where companies are involved in the manufacturing or sale of nuclear weapons or components or services thereof.

  • Walmart, Inc. 0.51%
    Firearms

    Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.

    WALMART, INC. Firearms

    Walmart is the USA’s largest retailer by sales, selling a variety of general merchandise and grocery items. Walmart retails shotguns, pistols and ammunition at some of its stores in the USA, as well as components for firearms such as scopes. Walmart are currently working to improve their weapon-realted controls.

  • Teledyne Technologies, Inc. 0.35%
    Firearms

    Where companies are involved in the manufacturing or retail of firearms, including guns, rifles, pistols, or components or services thereof.

    Military Weapons

    Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.

  • Amphenol Corp. 0.34%
    Military Weapons

    Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.

  • Larsen & Toubro Ltd. 0.31%
    Controversial Weapons

    Where companies are involved in the manufacturing or retail of controversial weapons (e.g., landmines and cluster munitions) or components or services thereof.

    Nuclear Weapons

    Where companies are involved in the manufacturing or sale of nuclear weapons or components or services thereof.

  • Booz Allen Hamilton Holding Corp. 0.28%
    Military Weapons

    Where companies derive revenue from the manufacturing of weapons or weapon components and services to the defence industry. We do not include non-weapons-related military support.

• Fossil Fuels

  • Eqt Corp. 0.55% !!
    This company is expanding their fossil fuel production and
    is off track with the UN target to limit global temperature
    rise to 1.5°C
    Fossil Fuel Production

    Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.

  • Conocophillips 0.52% !!
    This company is expanding their fossil fuel production and
    is off track with the UN target to limit global temperature
    rise to 1.5°C
    Fossil Fuel Production

    Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.

  • Galp Energia Sgps SA 0.49% !!
    This company is expanding their fossil fuel production and
    is off track with the UN target to limit global temperature
    rise to 1.5°C
    Fossil Fuel Production

    Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.

  • Constellation Energy Corp. 0.45%
    Fossil Fuel Power Generation

    Where companies source their power generation from fossil fuels (oil, natural gas, coal) to generate electricity.

  • Nextera Energy, Inc. 0.37%
    Fossil Fuel Production

    Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.

  • Eog Resources, Inc. 0.34% !!
    This company is expanding their fossil fuel production and
    is off track with the UN target to limit global temperature
    rise to 1.5°C
    Fossil Fuel Production

    Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.

  • Reliance Industries Ltd. 0.31% !!
    This company is expanding their fossil fuel production and
    is off track with the UN target to limit global temperature
    rise to 1.5°C
    Animal Testing

    Where companies are involved in testing products on animals for cosmetic, personal care, household product, chemical and other uses. We do not include companies which conduct animal testing for pharmaceutical products, medical devices, biotechnology, human food, or pet food.

    Fossil Fuel Production

    Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.

  • Targa Resources Corp. 0.29%
    Fossil Fuel Production

    Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.

  • BHP Group 0.26% !!
    This company is expanding their fossil fuel production and
    is off track with the UN target to limit global temperature
    rise to 1.5°C
    Environmental Damage

    Where companies, through their products or operations, are involved in environmental degradation e.g., pollution, chemical spills.

    Fossil Fuel Production

    Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.

    BHP GROUP Environmental Damage Fossil Fuel Production

    One of the world's largest mining companies, headquartered in Australia with operations globally. In 2015 Samarco (a BHP joint venture with Vale SA) caused the Mariana dam disaster releasing huge quantities of heavy metal waste into the Doce River basin. This is the largest pollution incident ever recorded and devastated communities and the ecosystem. BHP also mines thermal coal. While it sold some coal mines, it will continue to operate the Mt Arthur mine in New South Wales until 2030.

  • Mitsui & Co., Ltd. 0.25% !!
    This company is expanding their fossil fuel production and
    is off track with the UN target to limit global temperature
    rise to 1.5°C
    Fossil Fuel Production

    Where companies are involved in the production of fossil fuels (oil, natural gas, coal, shale oil) including exploration, production (including core services), storage, transport (except by rail) and refining.

• Social Harm

  • United Spirits Ltd. 0.18%
    Alcohol

    Where companies are involved in the production or retail of alcoholic beverages, or alcohol-related products and services.

  • Las Vegas Sands Corp. 0.05%
    Gambling

    Where companies are involved in the manufacture or retail of gambling specialised equipment, gambling supporting products and services, or gambling operations.