Emit Capital Climate Finance Equity Fund

Responsible Investing Approach

Emit Capital's ESG screening provides the second layer of stock selection after identification of those companies meeting our climate change thematic. ESG includes environment, social and governance principles and the Manager's expectation is the companies selected for the Fund's portfolio will have a minimum score across all 3 aspects. Obviously, the environmental principle is a core component through the climate change focus however other environmental benefits are also targeted. Emit Capital's ESG screening process focuses on the following:

- Key principles it believes are important to achieving sound ESG credentials for a company;

- Specific areas of a companies practice that are avoided due to the negative impact on ESG score; and

- Developing an overall scorecard for each company based on its key ESG focus and avoided practices.

Those companies that meet the Manager's ESG principles are then considered for inclusion in the Fund's portfolio of investments. Specifically, there needs to be an alignment of the company's principles with the Manager's own baseline requirements for ESG.