The Carnot Efficient Energy Fund is regularly examined by an independent sustainability specialist. The basis forms ESG-data, which is collected from each company by MSCI. “yourSRI” performs the analyses on the Carnot Efficient Energy Fund on a scale from AAA to C, resulting with an A grade (minor ESG risk). Positions with an increased ESG risk are not held by the fund, if any at all the fraction is below 10 percent.
To verify sustainability in the fund we apply positive selection criteria as well as exclusion criteria. Positive criteria are energy efficient products and technology, transparency, financial stability and a good corporate governance possibly free of conflicts of interest. We do not select companies which realize more than 10 percent turnover in military products, nuclear and genetic engineering as well as addictive drugs. We also exclude companies which mainly operate in countries vulnerable to corruption.