LONDON - Dunedin Income Growth Investment Trust PLC (DIG), a UK-based investment company, has announced that it will not alter its investment strategy or process in response to the upcoming Sustainable Disclosure Requirements (SDR) and Naming and Marketing rules set to take effect on December 2, 2024. The company has confirmed that its investment policy and the broader investment process are unlikely to meet the Financial Conduct Authority's (FCA) criteria for a sustainable investment label.
DIG adopted a sustainable investment overlay to its investment objective in 2021, emphasizing the assessment of long-term environmental, social, and governance (ESG) risks and opportunities. However, the investment objective does not constitute a sustainability objective as per the FCA's new naming and labeling regime, which was updated in November 2023.
The FCA's regime allows investment companies that meet specific criteria to apply one of four sustainable investment labels, with a fifth category for those unlabelled but with sustainability characteristics. After consultation with abrdn Fund Managers Limited, DIG has determined that its current investment policy does not satisfy the requirements for a sustainability label. Consequently, the company will adopt the 'unlabelled but with sustainability characteristics' category under the UK SDR framework.
The Board wishes to reassure shareholders that the strategy and investment process managed by abrdn will remain consistent. For those interested in the company's sustainable and responsible investing criteria, as well as its investment objective and policy, detailed information is available on the company's website.
The announcement also includes the publication of a consumer-facing disclosure document on the company's website, which contains various disclosures prescribed under SDR. This move is part of DIG's commitment to transparency in its sustainable investment practices.
This statement is based on a press release from Dunedin Income Growth Investment Trust PLC.
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