Fidelity International will adopt the ‘Sustainability Mixed Goals’ Sustainability Disclosure Requirements (SDR) label for three funds within its UK-domiciled multi-asset range, subject to regulatory approval. The label applies to investment products that pursue a mix of sustainability objectives and approaches used by at least two of the other label categories established by the Financial Conduct Authority (FCA). The firm intends to apply the label to the Fidelity Sustainable Multi Asset Balanced Fund, the Fidelity Sustainable Multi Asset Conservative Fund and the Fidelity Sustainable Multi Asset Growth Fund. Fidelity said the funds would direct 70% or more of their assets towards positive environmental and social outcomes (as per the FCA’s ‘Sustainability Focus’ label) or funds with the potential to contribute to positive environmental outcomes by restricting carbon emissions exposures in line with EU Paris-aligned Benchmark (PAB) requirements (‘Sustainability Improvers’). The funds will be monitored and report against standards and frameworks such as Fidelity’s proprietary Sustainable Development Goal (SDG) tool, the EU Taxonomy, use-of-proceeds bonds and PABs. Fidelity previously announced its intention to adopt the ‘Sustainability Focus’ SDR label for three funds within its UK-domiciled equity fund range – the Fidelity Sustainable UK Equity Fund, Fidelity Sustainable Global Equity Fund and Fidelity Sustainable European Equity Fund. “We believe the SDR framework plays a role in promoting transparency and consistency to our UK clients when it comes to sustainable investing, empowering investors to make informed decisions that align with their values,” said Jenn-Hui Tan, Chief Sustainability Officer at Fidelity International. The firm manages US$925.7 billion in total assets.
