Policy on Coal and Other Fossil Fuel Investments

This policy applies to equity assets on the Boston Trust Walden approved list of securities.

Boston Trust Walden uses a multifaceted approach to managing and mitigating climate risk, including through our approach to portfolio construction and active ownership.

We will not invest client assets in companies whose primary business is coal mining, or in companies that are planning or constructing new coal-fired power stations. Further, we will not invest client assets in companies primarily engaged in the development of tar sands.*

We avoid coal investments in client portfolios, in alignment with guidance from the Intergovernmental Panel on Climate Change (IPCC) 1.5° Celsius scenario, which states that coal usage should be phased out in OECD markets by 2030 and globally by 2040.

For discretionary portfolios that do not follow a fossil fuel free (FFF) investment strategy or utilize FFF investment guidelines, as with other portfolio holdings with higher carbon intensity, we utilize an active ownership approach to mitigate climate risk by encouraging companies to pursue a path toward a net zero future.

Fossil Fuel Free (FFF) Strategies

Our discretionary FFF investment strategies avoid investing client assets in companies whose primary business is to explore, develop,  produce, refine, service, distribute, or transport by pipeline fossil fuel resources (coal, oil, and natural gas), or use hydrocarbons to generate electricity for public consumption.or services. These thresholds consider market share, assets, reserves, production, and/or revenue dependence.