2. Company Selection: Integrating sustainability criteria
INVESTMENT CHARACTERISTICS:
Investment themes:
Strong management &
robust corporate governance
Structural competitive advantage
Strong ROIC / Growth compounders
Cash flow focused / Strong balance sheets
Attractive valuations
Climate Change
Clean Energy
Energy Efficiency
Water Scarcity
Water Treatment & Distribution
Responsible Irrigation
Waste Management
Recycling
Food Availability
Sustainable Agriculture & Food Production
Food Retail
Financial Inclusion
Banking
Insurance
FinTech
Infrastructure
EPC Contractors
Building Materials
Health & Wellness
Medical Care
Pharmaceuticals
Internet & Communications
Telecom
Internet
Education
Schools
Technology
Electricity
Transmission + + + +

3. Company Selection: Integrating sustainability criteria
Full integration of ESG criteria to achieve superior returns
Identify companies where sustainability presents an opportunity or mitigates a risk:
Superior
growth
Brand
Trust
Competitive Position
Higher profitability
Waste
Efficiency
Employee Productivity and Retention
Lower Cost of capital
Transparency
Stakeholder Engagement
Costs of Debt
Compliance & Risk management
Regulatory/Litigation Risk
Product Integrity
Community Relations
Opportunity
Risk Mitigation
Environmental
Emissions
Resource Intensity
Social
Customers
Employees
Communities
Governance
Corporate Governance
Transparency
Shareholder Rights

4. Company Selection: Integrating sustainability criteria
Corporate governance factors cut across all regions and sectors…
Board structure & compensation
Executive incentives & compensation
Related party transactions
Shareholder rights &
alignment of interests
Disclosure & transparency
Regulatory environment & compliance
… AND Other material sustainability factors vary by sector and company
Banks
Airlines
Cement
Financial inclusion
Responsible lending
AML & Cyber security
Risk exposure to sensitive sectors
Customer satisfaction & loyalty
Fuel consumption &
carbon pricing
Labor relations
Accidents & Safety
Competitive behavior
Customer satisfaction & loyalty
Greenhouse gas emissions
Water usage & efficiency
Waste production & disposal
Community relations
Health & Safety