Our strict ACATIS Fair Value sustainability approach is constantly being optimised. We have been working closely with the research agency imug / Moodys ESG Solutions for more than 15 years. We currently analyse around 11,000 companies worldwide, and the trend is rising. Our sustainability process consists of a total of six active filters. 
The exclusion rate is currently over 75%. 

• The first filter comprises standards-based screening. The main focus here is on whether the company complies with the requirements of the UN Global Compact, e.g. no abusive child labour or respect for human rights. In the case of the ACATIS Fair Value funds, this screening is not only carried out at company level, but also within the entire supply chain.
   
• The second filter contains very important exclusion criteria that we do not tolerate under any circumstances, e.g. strategic armaments or fossil fuels. Any share of a company's turnover in these business areas leads to immediate exclusion.
   
• The third exclusion filter generally concerns sectors that we only tolerate to a very low percentage of 5% so as not to exclude any other sectors. An example of this would be gambling. A total exclusion would also affect a large proportion of media and telecommunications companies.
   
• The third filter is the classic ESG filter. Here we determine who is best in class in the areas of environment, social and corporate governance. The results are recorded in the so-called ESG score. In our sustainability approach, we expect not only a clearly positive ESG score but also a corresponding improvement over the years. However, this ESG filter, which is now widely used, has the disadvantage that the data analysed only relates to the past. At the time of the evaluation, we therefore do not know how the company has aligned itself for the future. 
   
• This is where the SDG filter introduced in 2019 comes in. It looks at whether the company is making a contribution to the UN's 17 Sustainable Development Goals. These important goals are intended to ensure a future worth living for both us and future generations.
   
• As sustainable development is progressing and the SDG contributions for companies have increased significantly in recent years, we have introduced the sixth filter. This filters out the companies that actually have sustainable products and services (SGS) that help us to achieve the 17 goals. 

Once a company has passed all the filters, it is included in our sustainability universe, which currently consists of around 2,600 stocks. The fund management of the various ACATIS Fair Value funds can then choose freely from this.

In addition to the companies, 179 countries also go through our sustainability process, 42 of which are then investable. Other criteria apply here. Among other things, we look at the possession of nuclear weapons, the use of the death penalty and the Corruption Perceptions Index.

Further information on our ACATIS Fair Value funds can be found on the website of our investment advisor Fair Value Investment.