Fixed interest investments policy

From 27 July 2022, the COIF Charities Short Duration Bond Fund and the CBF Church of England Short Duration Bond Fund will avoid investment in companies that are identified by the agreed data provider as:

• producing landmines, cluster bombs, chemical/biological weapons, and/or nuclear weapons
• having significant involvement (more than 10% of turnover) in alcohol, gambling, non-military weapons, strategic military sales, non-medicinal cannabis; or high interest rate lending (defined as any company, whose main business activity or focus (defined as exceeding 10% of group turnover) is the provision of home collected credit (‘doorstep lending’), unsecured short-term loans (‘payday loans’) or pawnbroker loans, directly or through owned subsidiaries)
• having significant involvement (more than 3% of turnover) in adult entertainment
• testing cosmetics on animals (applies to companies in the ‘Personal Products’ Global Industry Classification Standard Sub-Industry; due to regulatory requirements in some countries, exceptions will be made for companies that are identified as promoting alternatives to animal testing and which adopt a rigorous, responsible, animal testing policy)
• that do not meet the manager’s minimum standard for breast milk substitutes (based on Global Access to Nutrition Indexes BMS index)
• screen for single-use abortifacients, or 
• have fallen behind the transition to a low carbon economy

In addition to the above the funds will also be managed in accordance with CCLA’s own internal policies that restrict investment in:

• mining companies that generate more than 5% of their revenue from the extraction of energy coal, produce more than 10 million metric tons of coal, or have plans to expand their coal production
• companies that derive more than 5% of their revenue from the extraction of oil sands,
• electrical utility and infrastructure companies that intend to expand their coal-fired generation capacity
• companies that derive more than 10% of their revenue from the extraction of oil and gas (this is defined as revenue derived from oil and gas extraction & production and oil and gas refining) or
• companies that derive more than 5% of their revenues from tobacco (this is defined as revenues derived from production, distribution or retail)