Negative screening
ESG & GovernanceLeaving companies or sectors out of a portfolio because of what they do, such as making tobacco, weapons or thermal coal.
Negative screening is the oldest responsible investing technique. Screens are usually set as revenue thresholds, for example excluding companies that earn more than 5% of revenue from thermal coal. The screens a fund uses, and the thresholds, should be stated in its documents. Screening narrows the investable universe but has little direct effect on the excluded companies.
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