A commitments report, on this page
Aegon Workplace Default: every commitment it has published, which layer made it, what it binds, and whether it can be tested. Open any row for the wording and its source.
Subscribe →Aegon Workplace Default: every commitment it has published, which layer made it, what it binds, and whether it can be tested. Open any row for the wording and its source.
Subscribe →| Standard | What the scheme wrote | Threshold | Result |
|---|---|---|---|
| ▸ Other | “The trustees have committed to net-zero carbon emissions of the default solution by 2050.” default solution · p.5 | net zero by 2050 | NO INTERIM MEASURE |
Why it cannot be tested as written. An endpoint with no interim measure. There is no year in which it can pass or fail. The wording that would fix it: Add a dated interim measure — an intensity reduction against a stated baseline, by a stated year. That can be tested annually. | |||
| ▸ Controversial weapons | “we are guided by our exclusions’ framework: Controversial weapons” default fund reviews / new business · p.7 | not stated | NOT BINDING |
Mechanism policy guidance Scope as written default fund reviews / new business Threshold not stated Source Why it cannot be tested as written. “Guided by” is a statement of approach, not a prohibition. Nothing can breach it. The wording that would fix it: State the exclusion: “the default arrangement excludes …”. | |||
| ▸ Tobacco | “we are guided by our exclusions’ framework: tobacco manufacturing and retail” default fund reviews / new business · p.7 | not stated | NOT BINDING |
Mechanism policy guidance Scope as written default fund reviews / new business Threshold not stated Source Why it cannot be tested as written. “Guided by” is a statement of approach, not a prohibition. Nothing can breach it. The wording that would fix it: State the exclusion: “the default arrangement excludes …”. | |||
| ▸ UN Global Compact | “controversies related to the UN Global Compact principles” default fund reviews / new business · p.7 | not stated | NOT TESTABLE |
Mechanism policy guidance Scope as written default fund reviews / new business Threshold not stated Source Why it cannot be tested as written. “Controversy” has no adjudicator, no date and no threshold. Two readers would exclude different companies. The wording that would fix it: Replace with “an adjudicated determination by a named regulator” — a decision, on a date, with a citable source. | |||
| ▸ Thermal coal | “thermal coal and oil sands extraction” default fund reviews / new business · p.7 | not stated | NOT YET TESTED Waiting on: the data the rule runs on |
Mechanism policy guidance Scope as written default fund reviews / new business Threshold not stated Source | |||
| Standard | Commitment | Share of equities | Result |
|---|---|---|---|
| ▸ Index membership | “track the performance of the FTSE Developed ESG Low Carbon Select Index” HSBC Developed World Lower Carbon ESG Tilt Equity Index Fund · p.Objectives | 31.5% | NOT YET TESTED tracks the FTSE Developed ESG Low Carbon Select Index: benchmark identity confirmed, exact ground rules not located (searched 7 Oct 2026). The similar FTSE MPF ESG Low Carbon Select rulebook covers Hong Kong retirement indices and must not be applied |
Mechanism commitment Scope as written HSBC Developed World Lower Carbon ESG Tilt Equity Index Fund Threshold index membership and weight Source Not yet tested, and not forced into a test it does not ask for. tracks the FTSE Developed ESG Low Carbon Select Index: benchmark identity confirmed, exact ground rules not located (searched 7 Oct 2026). The similar FTSE MPF ESG Low Carbon Select rulebook covers Hong Kong retirement indices and must not be applied A rule outside this report’s scope is never shown as met, and never as a pass. | |||
| ▸ Thermal coal | “Thermal Coal Extraction-Level of Involvement Id >5%” Five iShares ESG Screened and Optimised regional sleeves (Europe, EM, Japan, UK, US) · p.Appendix 5 | 47.7% | TESTED, SOME HOLDINGS DISCLOSE NO FIGURE At >5% involvement; power-generation revenue >5%: Rule: more than 5% involvement in thermal coal extraction, or more than 5% of revenue from coal-fired power generation. 0 over threshold of 2,209 issuers in scope; 9 measured on a different boundary (0.08%); 12 not disclosed (0.39%); 83 answered from existing register rows, nothing collected; 2,005 screen-negative (1,568 on Scottish Widows' / Standard Life's review of the same company; a screen, not a document); 121 candidates not collected (0.68%; register-only run). Other schemes' coal levels: Mercer >1%, Scottish Widows ≥5%, Standard Life >5%, Mercer ≥5%, Fidelity >5%, Atlas / SEI >10%, Royal London ≥60%. Holdings 28 Feb 2026 (the five iShares sleeves). |
Mechanism commitment Scope as written Five iShares ESG Screened and Optimised regional sleeves (Europe, EM, Japan, UK, US) Threshold >5% involvement; power-generation revenue >5% Source What the test found. Rule: more than 5% involvement in thermal coal extraction, or more than 5% of revenue from coal-fired power generation. 0 over threshold of 2,209 issuers in scope; 9 measured on a different boundary (0.08%); 12 not disclosed (0.39%); 83 answered from existing register rows, nothing collected; 2,005 screen-negative (1,568 on Scottish Widows' / Standard Life's review of the same company; a screen, not a document); 121 candidates not collected (0.68%; register-only run). Other schemes' coal levels: Mercer >1%, Scottish Widows ≥5%, Standard Life >5%, Mercer ≥5%, Fidelity >5%, Atlas / SEI >10%, Royal London ≥60%. Holdings 28 Feb 2026 (the five iShares sleeves). | |||
| ▸ Oil sands | “Oil Sands Extraction-Revenue Percentage >5%” Five iShares ESG Screened and Optimised regional sleeves (Europe, EM, Japan, UK, US) · p.Appendix 5 | 47.7% | TESTED, SOME HOLDINGS NOT SETTLED At >5% revenue: Rule: more than 5% of revenue from oil sands extraction. 0 over threshold of 2,209 issuers in scope; 1 measured on a different boundary (0.13%); 17 answered from existing register rows, nothing collected; 2,135 screen-negative (1,636 on Scottish Widows' / Standard Life's review of the same company; a screen, not a document); 57 candidates not collected (0.22%; register-only run). Holdings 28 Feb 2026 (the five iShares sleeves). |
Mechanism commitment Scope as written Five iShares ESG Screened and Optimised regional sleeves (Europe, EM, Japan, UK, US) Threshold >5% revenue Source What the test found. Rule: more than 5% of revenue from oil sands extraction. 0 over threshold of 2,209 issuers in scope; 1 measured on a different boundary (0.13%); 17 answered from existing register rows, nothing collected; 2,135 screen-negative (1,636 on Scottish Widows' / Standard Life's review of the same company; a screen, not a document); 57 candidates not collected (0.22%; register-only run). Holdings 28 Feb 2026 (the five iShares sleeves). | |||
| ▸ Tobacco | “Tobacco Products Production-Level of Involvement Id >0%” Five iShares ESG Screened and Optimised regional sleeves (Europe, EM, Japan, UK, US) · p.Appendix 5 | 47.7% | TESTED, SOME HOLDINGS NOT SETTLED At >0% production; other tobacco thresholds apply: Rule: any production of tobacco products (over 0%); the fund's other tobacco thresholds are not tested here. 0 over threshold of 2,209 issuers in scope; 50 answered from existing register rows, nothing collected; 2,113 screen-negative (1,599 on Scottish Widows' / Standard Life's review of the same company; a screen, not a document); 46 candidates not collected (0.38%; register-only run). Holdings 28 Feb 2026 (the five iShares sleeves). |
Mechanism commitment Scope as written Five iShares ESG Screened and Optimised regional sleeves (Europe, EM, Japan, UK, US) Threshold >0% production; other tobacco thresholds apply Source What the test found. Rule: any production of tobacco products (over 0%); the fund's other tobacco thresholds are not tested here. 0 over threshold of 2,209 issuers in scope; 50 answered from existing register rows, nothing collected; 2,113 screen-negative (1,599 on Scottish Widows' / Standard Life's review of the same company; a screen, not a document); 46 candidates not collected (0.38%; register-only run). Holdings 28 Feb 2026 (the five iShares sleeves). | |||
| ▸ UN Global Compact | “Noncompliance with U.N. Global Compact” Five iShares ESG Screened and Optimised regional sleeves (Europe, EM, Japan, UK, US) · p.Appendix 5 | 47.7% | TWO MEASURES — 208 HOLDINGS CARRY A FINDING WE MAP TO IT |
Mechanism commitment Scope as written Five iShares ESG Screened and Optimised regional sleeves (Europe, EM, Japan, UK, US) Threshold non-compliance status Source Not yet tested. A number, a direction and a unit. The row is waiting on UNGC issuer-status dataset and dated official index constituents. A rule outside this report’s scope is never shown as met. | |||
| Scheme | Excluded | Adverse | Own commitments | Commitments | Quantified | Equities bound | Position |
|---|---|---|---|---|---|---|---|
| Atlas / SEI→ | — no UNGC rule | — no UNGC rule | commitments partially tested Controversial weapons any stated involvement: 0 over, some holdings disclose no figure Thermal coal >10% annual revenue: 0 over, some holdings disclose no figure Failure of good-governance test: not yet tested Failed good-governance test: not yet tested | 6 | 2 | 100.0% | 1 of 8 by equities bound |
| Scottish Widows→ | — UNGC rule binds some sleeves only | — UNGC rule binds some sleeves only | commitments fully tested Controversial weapons any involvement (manufacturer): 0 over, a finding held pending decision Tobacco > 10% of value-chain revenue: 0 over, some holdings disclose no figure Thermal coal >= 5% of revenue from extraction: 0 over, some holdings disclose no figure Oil sands >= 5% of revenue from tar sand extraction: 0 over, some holdings disclose no figure | 15 | 9 | 100.0% | 2 of 8 by equities bound |
| Standard Life (PUTM)→ | — UNGC rule binds some sleeves only | — UNGC rule binds some sleeves only | commitments partially tested Controversial weapons zero tolerance: 0 over, a finding held pending decision Tobacco > 1% of revenue (production): 0 over Tobacco > 25% of revenue (distribution, retail and supply): 0 over, some holdings disclose no figure Thermal coal > 5% of revenue (mining and energy production): 0 over, some holdings disclose no figure Arctic drilling > 5% of revenue: 1 over, some holdings disclose no figure Oil sands > 5% of revenue: 1 over Thermal coal >=20 (waiver 20-30 with SBTi Paris-aligned targets): not yet tested Oil sands and oil and gas >=20: not yet tested Tobacco >=1: not yet tested External rating: not yet tested Norms and controversies third-party controversy flag: not yet tested | 61 | 37 | 92.7% | 3 of 8 by equities bound |
| Aegon→ | — no UNGC rule | — no UNGC rule | commitments partially tested Thermal coal >5% involvement; power-generation revenue >5%: 0 over, some holdings disclose no figure Oil sands >5% revenue: 0 over, some holdings disclose no figure Tobacco >0% production; other tobacco thresholds apply: 0 over, some holdings disclose no figure Controversial weapons: no threshold stated Tobacco: no threshold stated Thermal coal: no threshold stated Index membership and weight: not yet tested | 10 | 4 | 79.2% | this scheme — 4 of 8 by equities bound |
| Smart→ | — UNGC rule binds some sleeves only | — UNGC rule binds some sleeves only | commitments fully tested Thermal coal >20% revenue: 0 over, some holdings disclose no figure Oil sands >20% revenue: 0 over, some holdings disclose no figure Controversial weapons index exclusion per methodology: 0 over, some holdings disclose no figure | 6 | 4 | 50.9% | 5 of 8 by equities bound |
| Mercer→ | — UNGC rule binds some sleeves only | — UNGC rule binds some sleeves only | commitments partially tested Thermal coal: 15 rules, 13 tested, 0 over Deforestation: 1 rule, 0 tested, 0 over Index membership: 9 rules, 0 tested, 0 over Adult entertainment: 6 rules, 6 tested, 3 over Alcohol: 2 rules, 2 tested, 0 over Controversial weapons: 16 rules, 11 tested, 0 over Fossil fuels: 2 rules, 2 tested, 0 over Oil sands: 8 rules, 8 tested, 0 over Gambling: 2 rules, 2 tested, 0 over Tobacco: 22 rules, 22 tested, 0 over Civilian firearms: 21 rules, 21 tested, 0 over Fossil-fuel power generation: 1 rule, 1 tested, 0 over SDG impact rating: 1 rule, 0 tested, 0 over Norms and controversies: 5 rules, 0 tested, 0 over Arctic drilling: 2 rules, 2 tested, 0 over | 122 | 82 | 32.1–42.1% | 6 of 8 by equities bound |
| Fidelity→ | — no UNGC rule | — no UNGC rule | commitments fully tested Thermal coal >5% revenue: 0 over, some holdings disclose no figure Oil sands >5% revenue: 0 over, some holdings disclose no figure | 6 | 4 | 32.0% | 7 of 8 by equities bound |
| Royal London→ | — no UNGC rule | — no UNGC rule | commitments partially tested Controversial weapons any manufacture: 0 over, some holdings disclose no figure Thermal coal >=60% revenue: 1 over, some holdings disclose no figure — loosest coal level in the set Thermal coal >=2bn tonnes reserves: not yet tested | 6 | 4 | 30.6% | 8 of 8 by equities bound |
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