PUBLICATION OF FDC'S SUSTAINABLE INVESTOR FACTSHEET 2025

FDC has been implementing a responsible investor policy since 2010. As a first pillar, FDC implemented an exclusion list based on international conventions ratified by the Grand Duchy of Luxembourg. At the same time, FDC incorporated sustainable criteria in its public tenders for its asset managers. Since then, FDC's responsible investor policy has continuously evolved and deepened.

The fight against global warming and the energy transition have an impact on the financial sector as a whole. Being aware of the importance of such concerns and complying with its fiduciary duty, FDC reported in detail on its responsible investor policy in 2020 via its first Responsible Investor Report. Through that report, FDC had drawn up a transparent inventory and thus publicly confirmed its commitment as a responsible investor. Since then, FDC decided to publish an annual carbon audit as well as, on a three-year basis, a detailed responsible investor report showing FDC’s transition trajectory to assess compatibility with the Paris Agreement limiting global warming to well below 2°C, ideally 1.5°C.

After publishing its second Responsible Investor Report based on its holdings at the end of January 2024, FDC today publishes its annual carbon audit report. This factsheet exposes carbon data of FDC’s portfolios at the end of the year 2025, while highlighting the key elements of its responsible investor policy, during 2025 as well as any ongoing and planned sustainable enhancements and developments.

For nearly every carbon metric and irrespective of the scope of emissions considered, FDC’s portfolio shows decreases ranging from -44% to -4% compared to a year earlier, while reaching all-time lows. In relation to the broader markets, represented by the different benchmarks retained within the carbon analysis, a similar conclusion can be drawn. For example, FDC’s equities and fixed income portfolio showed a 48% and 47% lower carbon footprint respectively than the broader market. Similarly, its sovereign portfolio showed 36% and 28% respectively lower carbon intensities, depending on the scope of emissions considered.

In terms of key figures and recent developments, it is worth noting that FDC’s holdings in green bonds have increased by a billion euros in comparison to 2024 and that FDC made its first investments, totaling nearly 40 million euros, in infrastructure assets linked to clean energy. Finally, FDC won the award for best fund in the Small Countries category at the IPE Conference & Awards 2025, notably due to its strong ESG integration, excellent results, disciplined risk management and its well-thought-out and cost-efficient strategy, setting in that way a benchmark for both financial resilience and sustainable asset management.