Code of Ethics

For funds not subject to Swiss law, FAP gives preference to products classified as:

• Article 8 du règlement SFDR : intégration de caractéristiques ESG.
• Article 9 du règlement SFDR : objectif explicite d’investissement durable.

This approach remains applicable as long as the current SFDR 1.0 regulation is in force.

1. Reduction of non-financial risks

• Environmental: responsible management of resources, combating pollution, adaptation to climate change.
• Social: respect for human rights, improvement of working conditions.
• Governance: combating corruption, fair and transparent practices.

2. Creation of positive impacts

• Environmental: development of clean energy, reduction of emissions, promotion of the circular economy.
• Social: equality and inclusion, access to education and financial services.
• Governance: transparency, fairness, respect for stakeholders.

FAP’s financial management must always remain consistent with its mission and contribute to supporting it.

• When selecting investments, FAP gives preference to:
• Entities demonstrating best practices in ethics, sustainability, and governance.
• Opportunities that contribute directly to the 17 United Nations Sustainable Development Goals (SDGs).

Priority areas of impact:

• Renewable energy
• Gender equality between women and men
• Sustainable mobility
• Responsible water management
• Sustainable construction
• Pollution reduction
• Financial inclusion
• Access to education
• Circular economy

FAP excludes investments in sectors that are in clear contradiction with its values, in particular those for which more than 5% of turnover is derived from the following activities:

• Controversial weapons
• Forced labour or child exploitation
• Gambling and pornography
• Intensive production or marketing of tobacco, drugs, or alcohol
• Extraction of coal or unconventional oil (oil sands)
• Environmentally harmful activities (mass pollution, deforestation)
• GMOs (except for strictly controlled uses)

This approach remains pragmatic, taking into account the limitations in access to detailed information in the case of indirect investments.

FAP recognizes that environmental, social, and governance issues are evolving rapidly.

• This charter will be reviewed regularly, at least every three years, in order to remain aligned with best practices.
• FAP also encourages constructive dialogue with its stakeholders (beneficiaries, partners, financial managers) to continuously improve its responsible investment policy.