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In our expectations on biodiversity and ecosystems, we state that companies should respect initiatives to preserve biodiversity and ecosystems, and exercise due care in protected areas and critical habitats. Companies should assess their direct and indirect dependencies and impacts on biodiversity and ecosystems and incorporate such assessments into their policies. They should avoid disruptive operations in internationally recognised areas such as natural UNESCO World Heritage Sites and have adequate oversight in place to secure the impact of operations in the vicinity of such areas. Companies should avoid contributing to reductions of any Critically Endangered or Endangered Species on the IUCN Red List of Threatened Species.

Furthermore, in our expectations on human rights, we state that companies should consider the human rights implications of their actions, including their effects on indigenous peoples and local communities. Meaningful stakeholder engagement should be part of the due diligence process, including with local communities and indigenous peoples.

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We take the allegations regarding environmental impacts at PT Gag Nikel's operations in Raja Ampat seriously. We note that Indonesian authorities have taken regulatory action regarding mining operations in the region. Environmental protection and biodiversity conservation are important topics for us. We will continue to monitor this situation and consider how we can use the tools at our disposal to address these concerns, in line with our investment mandate and due diligence processes.