Forsyth Barr Global Quality Fund

Companies of concern

• Human Rights Violations

  • Meta Platforms, Inc. 4.25%
    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.

  • Johnson & Johnson 3.34%
    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.

    JOHNSON & JOHNSON Public Safety

    Johnson & Johnson is the world's largest and most diverse healthcare firm. The company has been involved in repeated incidents related to the quality and safety of several of its products across all three of the company’s business segments — drugs, devices, and consumer products. Several products have been associated with allegations of severe or even fatal adverse impacts on patients.

  • Wells Fargo 1.88%
    Business Ethics

    Where low standards of ethics create harm because of poor culture and inappropriate incentives, inadequate governance and oversight, and incidents of bribery and corruption.

  • Nestlé 1.48%
    Human Rights Abuses

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

    NESTLÉ Human Rights Abuses

    Nestle manufactures and sells food and beverages. The company has been criticised for exploiting local water resources for its bottled water production, which has forced underprivileged communities to pay a premium for their groundwater while alternatives have been exhausted. There have also been several allegations of labour conflicts and human rights violations in Nestle’s palm oil, coffee, fruits and seafood supply chains.

  • Thermo Fisher Scientific 1.00%
    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.

• Animal Cruelty

  • Unilever PLC 2.42%
    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.

  • LVMH Moët Hennessy Louis Vuitton Se 1.48%
    Animal Welfare Issues

    Where companies, through their products or operations, cause harm to animals e.g., animal entertainment (such as marine parks and rodeos), livestock exports, whale meat etc.

    Fur & Speciality Leather

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

    LVMH MOËT HENNESSY LOUIS VUITTON SE Animal Welfare Issues Fur & Speciality Leather

    Uses exotic leather and fur products in its luxury ranges such as crocodile, python and ostrich. Brands containing exotic leather include Donna Karan, Louis Vuitton, Fendi, Bvlgari, Céline. In addition it sells cosmetics and fragrances in China where testing on animals is required.

• Weapons

  • Safran SA 2.69%
    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.

    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.

    Nuclear Weapons

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

• Fossil Fuels

  • Dassault Systèmes Se 0.24%
    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

  • Constellation Brands, Inc. 1.55%
    Alcohol

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

  • Diageo 1.06%
    Alcohol

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