Text,Label "If less than 75% of the weight of the index remains eligible after steps (i) and (ii), step (i) is relaxed to the worst 20% of ESG scores from a company’s GICS Industry Group.",specific The Index Provider excludes companies from the Underlying Index that either do not have an Index Provider ESG score or have an Index Provider ESG score that (i) falls within the worst 25% of the Index Provider’s ESG scores from each Global Industry Classification Standard (GICS®) Industry Group in the index or (ii) falls within the worst 10% of the Index Provider’s ESG scores for the companies in the index.,specific All constituent companies of the S&P MidCap 400 Index are eligible for inclusion in the Underlying Index except for companies that: � Do not have an Index Provider ESG score at all or have an Index Provider ESG score that (i) generally falls within the worst 15-25% of the Index Provider’s ESG scores from each Global Industry Classification Standard (GICS ®) Industry Group in the index or (ii) falls within the worst 10% of the Index Provider’s ESG scores for the companies in the index.,specific The Sub-fund's portfolio has a minimum weighted average score of at least 6 on Robeco's Country Sustainability Ranking. 7. ,specific "� Are determined by Sustainalytics, a global leader in sustainability research and analysis, to engage in any of the following business activities: i. Manufacture tobacco products or hold a 25% or higher stake in a company involved in this activity; or derive 5% or more of their revenue from (i) supplying tobacco-related products and services or (ii) the distribution and/or retail sale of tobacco products.",specific "Under normal circumstances, pursuant to its current internal limits, the Fund will only invest in loans from issuers with a single category E, S or G pillar score of 4.25 and under and will also only invest in loans from issuers with a composite ESG score of 4.0 and under.",specific The Index Provider excludes companies from the Underlying Index that either do not have an Index Provider ESG score or have an Index Provider ESG score that falls within the bottom 25% of the Index Provider’s ESG scores from each Global Industry Classification Standard (GICS®) Industry Group.,specific "General purpose bonds from issuers that are considered by the Index Provider to be a pure-play green company (defined as a legal entity with greater than 90% of activities, as measured by revenues, within one or more of the eligible environmental categories) must meet all four criteria to be eligible.",specific The Sub-fund's portfolio has a minimum weighted average score of at least 7.5 on Robeco's Country Sustainability Ranking. 8.,specific "Existing constituents of the Underlying Index are required to have an MSCI ESG Controversies Score of 1 or above to remain in the index, while companies that are currently not constituents of the Underlying Index are required to have an MSCI ESG Controversies Score of 3 or above to be considered eligible for addition.",specific "Companies that engage in the manufacture and sale of (i) assault weapons or small arms (non-assault weapons) to civilian customers, (ii) small arms to military/law enforcement, or (iii) key components of small arms, or hold a 25% or higher stake in a company involved in these activities; or derive 5% or more of their revenue from the retail and/or distribution of assault weapons or small arms (non-assault weapons).",specific "(v) issuers that derive more than five percent of revenue from thermal coal mining; (vi) issuers that derive more than five percent of revenue from oil sands extraction; and (vii) issuers identified as violators of the United Nations Global Compact, which are globally accepted principles covering corporate behavior in the areas of human rights, labor, environment, and anti-corruption.",specific The Sub-fund's portfolio has a minimum weighted average score of at least 6.5 on Robeco's Country Sustainability Ranking. ,specific Companies that engage in the manufacture of tobacco products or own 25% or more of a company involved in this activity; or derive 5% or more of their revenue from (i) supplying tobacco-related products and services or (ii) the distribution and/or retail sale of tobacco products.,specific "Index are required to have an MSCI ESG rating of BB or above to remain in the index, and companies that are currently not constituents of the Underlying Index are also required to have an MSCI ESG rating of BB or above to be considered eligible for addition.",specific "Such companies include those that (i) have a low carbon transition score of neutral or better as rated by MSCI within the MSCI World Climate Change Index, (ii) have an above average environmental score as rated by MSCI, and/or (iii) have an above average environmental systematic score as rated by FMR (FMR E Score). ",specific "If the 75% target is still not met after such relaxation, then step (i) is further relaxed to the worst 15% of ESG scores from a company’s GICS Industry Group.",specific "For corporate bond investments, at least 80% of the Sub-fund is invested in companies with a positive or neutral SDG score.",specific The Sub-fund's weighted carbon footprint score is equal or better than that of the Custom Bloomberg Climate Transition Benchmark. 2.,specific Companies that derive 75% or more of their revenue from the six Environmental Impact Themes are included in the Underlying Index.,specific The Sub-fund's weighted carbon footprint score is equal or better than that of the Climate Transition Benchmark. 2.,specific Companies that derive 75% or more of their revenue cumulatively from the six Environmental Impact Themes are eligible for inclusion in the Underlying Index.,specific "The Sub-Fund plans to make a minimum of 90% sustainable investments, measured either by by holdings that are part of the Climate Transition Benchmark or holdings that have a positive score via Robeco's SDG Framework.",specific "The Sub-Fund plans to make a minimum of 90% sustainable investments, measured either by by holdings that are part of the Paris Aligned Index or holdings that have a positive score via Robeco's SDG Framework.",specific "v. Manufacture and sell (i) assault weapons or small arms (non-assault weapons) to civilian customers, (ii) small arms to military/law enforcement, or (iii) key components of small arms, or hold a 25% or higher stake in a company involved in these activities; or derive 5% or more of their revenue from the retail and/or distribution of assault weapons or small arms (non-assault weapons).",specific "The Sub-fund invests a minimum of 2.5% in green, social, sustainable, and/or sustainability-linked bonds The Sub-fund has the following binding elements to attain the environmental or social characteristics promoted by the corporate bonds (including government owned but not guaranteed): 2. ",specific "issuers that derive any revenue from the production of tobacco-related products; iv. issuers that derive more than five percent of revenue from thermal coal generation, unless such issuers either (a) have made certain commitments to reduce climate impact or (b) derive at least fifty percent of revenue from alternative energy sources; v. issuers that derive more than five percent of revenue from thermal coal mining; vi. issuers that derive more than five percent of revenue from oil sands extraction; and vii. issuers identified as violators of the United Nations Global Compact, which are globally accepted principles covering corporate behavior in the areas of human rights, labor, environment, and anti-corruption.",specific All constituent companies of the S&P 500 Index are eligible for inclusion in the Underlying Index except for companies that: � Do not have an Index Provider ESG score at all or have an Index Provider ESG score that falls within the bottom 25% of the Index Provider’s ESG scores from each Global Industry Classification Standard (GICS®) Industry Group.,specific Companies that derive 5% or more of their revenue from (i) the extraction of thermal coal or (ii) the generation of electricity from thermal coal.,specific "Under normal circumstances, the Fund will invest, indirectly through investments in the Underlying Funds, at least 80% of its assets in securities or other financial instruments that are components of or have economic characteristics similar to the securities included in its custom benchmark index, the LifePath ESG Index 2065 Fund Custom Benchmark.",specific "Such screening criteria principally includes: (i) issuers that derive any revenue from the production of controversial weapons; (ii) issuers that derive any revenue from the production of civilian firearms; (iii) issuers that derive any revenue from the production of tobacco-related products; (iv) issuers that derive more than five percent of revenue from thermal coal generation, unless such issuers either (a) have made certain commitments to reduce climate impact or (b) derive at least fifty percent of revenue from alternative energy sources; (v) issuers that derive more than five percent of revenue from thermal coal mining; (vi) issuers that derive more than five percent of revenue from oil sands extraction; and (vii) issuers identified as violators of the United Nations Global Compact, which are globally accepted principles covering corporate behavior in the areas of human rights, labor, environment, and anti-corruption.",specific Companies that derive 50% or more of their revenue from green building are eligible for inclusion in the Underlying Index.,specific Companies that derive 50% or more of their revenue from green building are included in the Underlying Index.,specific "Such screening criteria principally includes: (i) issuers that derive any revenue from the production of controversial weapons; (ii) issuers that derive any revenue from the production of civilian firearms; (iii) issuers that derive any revenue from the production of tobacco-related products; (iv) issuers that derive more than five percent of revenue from thermal coal generation, unless such issuers either (a) have made certain commitments to reduce climate impact or (b) derive at least fifty percent of revenue from alternative energy sources; 25 NM0922U-2408764-25/80",specific The Sub-fund's weighted average ESG score is at least 10% better than that of the general market index. ,specific "Lastly, if the combined float-adjusted market capitalization of the selected companies is not above the 75% target, the Index Provider may add companies not already selected in decreasing order of ESG Score to get as close as possible to the 75% target.",specific "When making its selections, the Index Provider targets 75% of the float-adjusted market capitalization (i.e., the amount of stock that is available for trading by the general public) of each GICS Industry Group within the S&P MidCap 400 Index, using the ESG scores assigned to the companies in the Eligible Universe by the Index Provider as the determining factor.",specific "The reference index is designed to align with a 1.5°C climate scenario using the MSCI Climate Value-at-Risk and a ""self-decarbonization"" rate of 10% year on year.",specific "Once the constituents of the Underlying Index are selected pursuant to the above criteria, the constituents are then weighted in a manner designed to reduce the “carbon intensity” (defined, for each company included in the Underlying Index, as its greenhouse gas emissions as a percentage of the company’s enterprise value including cash) in the following ways: � Reduce the carbon intensity of the Underlying Index by at least 60% compared to the parent index, and � Seek a year-over-year carbon intensity reduction target of at least 7%.",specific "The Sub-Fund plans to make a minimum of 90% sustainable investments, measured by the by holdings that are part of the Climate Transition Benchmark.",specific Each investment with an ESG Risk rating of higher than 40,specific "The Sub-Fund plans to make a minimum of 90% sustainable investments, measured by the by holdings that are part of the Paris Aligned Benchmark or follow the methodology of the Paris Aligned Benchmark. ",specific "The Fund will also seek to invest in a portfolio of equity securities that, in BFA’s view, has an aggregate environmental assessment that is better than the aggregate environmental assessment of the MSCI ACWI Multiple Industries Select Index (the “MSCI ACWI Select” or the “Underlying Index”).",specific "In determining whether an issuer is directly engaged in, and/or derives significant revenue from a particular industry or product line, the fund may use revenue thresholds (e.g., issuers that derive more than 5% of revenue from tobacco production) and/or categorical exclusions (e.g., issuers that derive any revenue from the operation of private prisons or issuers that are classified within the coal production or mining industries), depending on the industry or product line, based generally on data provided by one or more third-party vendor(s).",specific Companies that derive 5% or more of their revenue from the extraction of oil sands.,specific At least 90% of the investments are aligned with the E/S characteristics of the Sub-fund.,specific "In order to align with a sub-2°C scenario, the Fund will: 1) seek to lower the carbon intensity of the portfolio on an annual basis, with the goal of seeking to ultimately reach a net zero greenhouse gas emissions portfolio in the aggregate by 2050; and 2) engage with the companies that account for 65% of greenhouse gas emissions in the portfolio each year.",specific The Sub-fund plans to make a minimum of 90% of sustainable investments with an environmental objective by investing in constituents of the Climate Transition Benchmark.,specific "The Sub-Fund plans to make a minimum of 90% sustainable investments, measured by the by holdings that are part of the Paris Aligned Benchmark.",specific Companies engaged in the business of controversial weapons or that own 25% or more of a company engaged in this activity.,specific "It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 70% of sustainable investments with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy",specific "The Sub-fund's exclusion criteria are similar to those of the reference index, and the Sub-fund's weighted carbon footprint score is equal to or better than the reference benchmark for the carbon objective of the Subfund. ",specific "The Sub-Fund plans to make a minimum of 2.5% sustainable investments, measured by the proportion of the green, social, sustainable, and/or sustainability-linked bonds.",specific "For each GICS Industry Group, the Index Provider first selects companies in decreasing order of ESG Score until 65% of the cumulative float-adjusted market capitalization is reached.",specific "When making its selections, the Index Provider targets 75% of the floatadjusted market capitalization (i.e., the amount of stock that is available for trading by the general public) of each GICS Industry Group within the S&P 500 Index, using the ESG scores assigned to the companies in the Eligible Universe by the Index Provider as the determining factor.",specific "The Sub-Fund plans to make a minimum of 90% sustainable investments, measured by positive scores or allowed neutrals, via Robeco's SDG Framework.",specific "The Underlying Index is then constructed using a process that aims to achieve replicability and investability, subject to the following objective and constraints: (i) minimize carbon exposure subject to a tracking error constraint of 30 basis points relative to the Parent Index; (ii) the maximum weight of an Underlying Index constituent may not be greater than 20 times its weight in the Parent Index; (iii) country weights in the Underlying Index may not deviate more than 2% from the country weights in the Parent Index; and (iv) sector weights in the Underlying Index may not deviate more than 2% from the sector weights in the Parent Index, with the exception of the energy sector, where there is no weight constraint applied.",specific "Such screening criteria principally includes: (i) issuers engaged in the production of controversial weapons; (ii) issuers engaged in the production of civilian firearms; (iii) issuers deriving revenue from direct involvement in the production of nuclear weapons or nuclear weapon components or delivery platforms, or the provision of auxiliary services related to nuclear weapons; (iv) issuers engaged in the production of tobacco-related products; (v) issuers that derive certain revenue from thermal coal generation, unless such issuers either (a) have made certain commitments to reduce climate impact or (b) derive revenue from alternative energy sources, and issuers that derive more than five percent of revenue from thermal coal mining; (vi) issuers that derive more than five percent of revenue from oil sands extraction, unless the Fund is investing in green bonds of such issuers; and (vii) issuers identified by recognized third-party rating agencies as violators of the United Nations Global Compact, which are globally accepted principles covering corporate behavior in the areas of human rights, labor, environment, and anti-corruption.",specific "The social objectives of the Sub-fund are attained by investing in companies that score positively on SDG 1 (No poverty), SDG 2 (Zero hunger), SDG x% 100% 1.",specific "To reduce turnover and enhance stability in the Underlying Index, the Index Provider applies buffer rules for existing constituents of the Underlying Index, which are retained in the Underlying Index as long as their cumulative exposure to the Environmental Impact Themes does not fall below 60%.",specific "The Sub-fund plans to make a minimum of 70% sustainable investments, measured by either being positive scores via Robeco's SDG Framework or investments in green, social, sustainable or sustainability-linked bonds.",specific The Sub-fund's weighted carbon emissions per capita is equal to or better than that of the Paris Aware Benchmark 6. ,specific "The Sub-fund also applies the aforementioned exclusion criteria, and the Sub-fund's overall weighted carbon footprint score in each of the government part and the corporate part is always equal to or better than the respective part of the Solactive Paris Aware Global Aggregate Index. ",specific The proportion of companies that hold a high or medium negative SDG score (-3 or -2) based on the internally developed SDG Framework The Sub-fund's weighted average ESG score compared to the general market index. ,specific "The Sub-Fund plans to make a minimum of 90% sustainable investments, measured by positive scores via Robeco's SDG Framework.",specific Principal Investment Strategies The Adviser normally invests at least 80% of the fund’s assets in equity securities of climate aware companies.,specific The Sub-fund plans to make a minimum of 0% of sustainable investments with an environmental objective by investing in constituents of the Paris Aligned Benchmark.,specific "The Fund will not invest in companies that the sub-adviser determines are involved in the following activities:  manufacturing of nuclear weapons, cluster munitions, land mines, incendiary devices, biological or chemical weapons, or depleted uranium munitions;  civilian firearms manufacturing;  tobacco products manufacturing; or  thermal coal mining or production if it accounts for more than 30% of a company’s gross revenues. ",specific "In addition, if an instrument is categorized as “green” by the Climate Bond Initiative (“CBI”) under the criteria used by the CBI to certify bonds as being closely 1 Prospectus October 1, 2022 Xtrackers J.P. Morgan ESG Emerging Markets Sovereign ETF",specific Derive 5% or more of their revenue from the extraction of thermal coal or the generation of electricity from thermal coal.,specific Reduction targets are considered “science-based” if they are in line with the level of decarbonization required to keep global temperature increase below 2°C as described in the Fifth Assessment Report of the Intergovernmental Panel on Climate Change (IPCCAR5) and determined by the SBTi.,specific Principal Investment Strategies • Normally investing at least 80% of assets in securities of water sustainability companies.,specific The Sub-fund excludes sovereign bonds issued by the bottom 15% of the Worldwide Governance Indicators (WGI) - Control of Corruption ranking. ,specific selected in decreasing order of ESG Score to get as close as possible to the 75% target.,specific Derive 5% or more of their revenue from the extraction of oil sands.,specific "For example, if the market capitalization of all consumer discretionary sector companies included in the Base Index totals $200 billion, then the Index would screen these consumer discretionary sector companies, rank them based on ESG performance scores, and add the highest scoring companies to the Index until such point that their combined total market capitalization reaches $100 billion.",specific Principal Investment Strategies • Normally investing at least 80% of assets in equity securities of climate aware companies.,specific The Sub-fund allocates a minimum 80% of the bond exposure ex government bonds in the green bonds based on external vendor data or the internally developed framework by Robeco. ,specific The Sub-fund solely invests in companies with a medium or high positive SDG score. ,specific "Once the constituents of the Underlying Index are selected pursuant to the above criteria, the constituents are then weighted in a manner designed to align with the objectives of the Net Zero Investment Framework and such that the resulting portfolio’s greenhouse gas emissions are consistent with the long-term global warming target of the Paris Climate Agreement by first assigning a weight based on (i) greenhouse gas (GHG) emissions reduction targets, (ii) climate disclosure standards, and (iii) green revenue, and then optimizing the portfolio such that: � The carbon intensity (defined, for each company included in the Underlying Index, as its greenhouse gas emissions as a percentage of the company’s enterprise value including cash) of the Underlying Index is reduced by at least 50% compared to the parent index, � The year-over-year carbon intensity of the Underlying Index seeks a reduction target of at least 7%, and � The aggregate exposure to high climate impact sectors (those sectors that are key to low-carbon transition) in the Underlying Index relative to the parent index does not decrease.",specific The reference index is designed to exceed the minimum standards of the EU Climate Transition Benchmark (CTB).,specific "If an instrument is categorized as “green” by the Climate Bond Initiative (CBI), under the criteria used by the CBI to certify bonds as being closely linked with green and climate friendly assets or projects, the security will be upgraded one quintile from the band to which it originally was assigned.",specific "While the sum of sustainable investments with an environmental objective and socially sustainable investments always adds up to the Sub-fund's minimum proportion of 90% sustainable investments, the minimum share of sustainable investments with an environmental objective is 70%.",specific "The Sub-fund invests a minimum of 5% in green, social, sustainable, and/or sustainability-linked bonds 3. ",specific "The environmental objectives of the Sub-fund are attained by investing in companies that score positively on SDG 12 (Responsible consumption and production), SDG 13 (Climate action), SDG 14 (Life below water), and SDG 15 (Life on land) in Robeco's SDG Framework.",specific "In addition, if an instrument is categorized as “green” by the Climate Bond Initiative (“CBI”) under the criteria used by the CBI to certify bonds as being closely linked with green and climate friendly assets or projects, the security will be upgraded one quintile from the quintile to which it originally was assigned.",specific "To reduce turnover and enhance stability in the Underlying Index, the Index Provider applies buffer rules such that existing constituents of the Underlying Index are retained in the Underlying Index as long as they continue to meet the eligibility criteria and their exposure to green building does not fall below 40%.",specific "The Sub-fund plans to make a minimum of 10% sustainable investments, measured by the investments in Green, Social or Sustainable Bonds.",specific "Once included in the Underlying Index, securities will remain constituents as long as the revenue they derive cumulatively from the six Environmental Impact Themes does not fall below 60%.",specific "The Sub-fund also applies the aforementioned exclusion criteria, and the Sub-fund's weighted carbon footprint score is always equal to or better than the Solactive Paris Aligned Global Corporate Index. ",specific "The Sub-fund intends to make sustainable investments, measured either by holdings that are part of the Paris Aligned Index or holdings that have a positive score via Robeco's SDG Framework.",specific "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS in companies that score positively on SDG 12 (Responsible consumption and production), SDG 13 (Climate action), SDG 14 (Life below water), and SDG 15 (Life on land) in Robeco's SDG Framework. ",specific "Companies that derive 10% or more of their revenues from (i) the manufacture of military weapon systems and/or integral, tailor-made components of these weapons or (ii) the provision of tailor-made products and/or services that support military weapons.",specific "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS are attained by investing in companies that score positively on SDG 1 (No poverty), SDG 2 (Zero hunger), SDG 3 (Good health and well-being), SDG 4 (Quality education), SDG 5 (Gender equality), SDG 6 (Clear water and sanitation), SDG 7 (Affordable and clean energy), SDG 8 (Decent work and economic growth), SDG 9 (Industry, innovation and infrastructure), SDG 10 (Reduced inequalities), SDG 11 (Sustainable cities and communities), SDG 16 (Peace, justice and strong institutions) and SDG 17 (Partnerships for the goals), in Robeco's SDG Framework.",specific No It will make a minimum of sustainable investments with an environmental objective: 70%,specific "In order to align with the sub-2°C scenario, the Fund will: 1) seek to lower the carbon intensity of its portfolio over time, with the goal of seeking to ultimately reach a net zero greenhouse gas emissions portfolio in the aggregate by 2050; and 2) engage with the portfolio companies each year in an effort to aid in the transition to net zero.",specific "The social objectives of the Sub-fund are attained by investing in companies that score positively on SDG 1 (No poverty), SDG 2 (Zero hunger), SDG 3 (Good health and well-being), SDG 4 (Quality education), SDG 5 (Gender equality), SDG 6 (Clear water and sanitation), SDG 7 (Affordable and clean energy), SDG 8 (Decent work and economic growth), SDG 9 The two graphs below show in green the minimum percentage of investments that are aligned with the EU Taxonomy.",specific "v The Fund will seek to avoid investing in companies that manufacture, design or sell weapons or the critical components of weapons that violate international humanitarian law.",specific "Further, the Fund will not invest in companies which violate the United Nations Global Compact.",specific "Companies that are involved in specific business activities which have high potential for negative social and/or environmental impact, such as alcohol, gambling, tobacco, nuclear power, fossil fuel extraction, thermal coal power, conventional weapons, nuclear weapons, controversial weapons and civilian firearms, are ineligible for inclusion.",specific The Underlying Index excludes from the eligible universe securities of companies based on their specific business activities and noncompliance with environmental criteria set forth in the United Nations Global Compact (“UNGC”),specific "The Sub-fund only makes investments in Green, Social and Sustainable bonds and therefore it does not have sovereign exposures.",specific "Examples of such involvement or commitment include (i) owning properties, facilities and buildings designed and built according to environmental or sustainable standards and certified by third parties (such as the Leadership in Energy and Environmental Design (LEED) green building certification program); (ii) constructing green or sustainable properties, facilities or buildings, which may also include retrofitting or redeveloping non-certified properties to comply with green building standards; and (iii) providing consultancy services that aid in the green building certification of properties, facilities, or buildings.",specific "These exposures are preserved at the weights of the Parent Index and are not subject to the Index Provider’s optimization process, which is a quantitative process that seeks to determine optimal weights for securities to maximize exposure to securities of entities with higher MSCI ESG Research ratings subject to seeking to maintain risk and return characteristics similar to the Parent Index.",specific "Additionally, issuers with derived revenue from thermal coal, tobacco and weapons sectors are excluded.",specific "For inclusion in the Underlying Index, securities are independently evaluated by MSCI ESG Research LLC (“MSCI ESG Research”), pursuant to an agreement between MSCI ESG Research and the Index Provider (or an affiliate), based on four criteria aligned with themes articulated in the Green Bond Principles, which are published by the International Capital Market Association (“Green Bond Principles”).",specific "The Index Provider also excludes entities involved in very severe business controversies (in each case as determined by MSCI ESG Research), and then follows the Index Provider’s optimization process.",specific The Sub-fund's portfolio complies with Robeco's Exclusion Policy (https://www.robeco.com/docm/docu-exclusion-policy.pdf) that is based on exclusion criteria with regards to products and business practices that Robeco believes are detrimental to society and incompatible with sustainable investment strategies.,specific The Sub-fund's portfolio complies with Robeco's Exclusion Policy https://www.robeco.com/docm/docuexclusion-policy.pdf excluding investments in companies that are exposed to controversial behavior and controversial products.,specific "In addition, the Subfund's portfolio complies with Robeco's Exclusion Policy (https://www.robeco.com/docm/docuexclusion-policy.pdf), that is based on exclusion criteria with regards to products and business practices that Robeco believes are detrimental to society and incompatible with sustainable investment strategies.",specific Furthermore companies involved in the production or distribution of controversial weapons and companies involved in the production of tobacco are excluded from the investment universe of the Fund.,specific Companies that breach the international norms will be excluded from the investment universe.,specific "Sovereign issuers involved (defined as the government receiving revenue from direct involvement in those activities) in thermal coal, tobacco, weapons or UN Global Compact principle violations are excluded from the index regardless of their ESG score.",specific "The Underlying Index includes companies in wind, solar, biofuels, hydro, wave, tidal, geothermal and other relevant renewable energy businesses and those involved in energy conversion, storage, conservation, efficiency, materials relating to those activities, carbon and greenhouse gas reduction, pollution control, emerging hydrogen and fuel cells.",specific "The Sub-fund fully complies with activity based exclusions with regards to products (including controversial weapons, tobacco, palm oil, and thermal coal, upstream oil and gas and electricity producers in line with Article 12 of the EU regulation Climate Transition Benchmarks, EU Parisaligned Benchmarks and sustainability-related disclosures for benchmarks).",specific "In addition, the Fund will not invest in companies currently operating in the following industries: coal & consumable fuels, oil & gas exploration & production, integrated oil & gas, tobacco, distillers & vintners, brewers, casinos & gaming and firearms & weapons.",specific "Objective The Sub-fund has as its sustainable investment objective to finance or re-finance in part or in full new and/or existing environmentally-friendly projects by investing in USD-denominated Green Bonds, while at the same time aiming to provide long term capital growth.",specific These framework directly and indirectly assess PAI indicators Robeco's SDG Framework assesses companies' positive and negative contributions to the Sustainable Development Goals (SDGs).,specific The Sub-fund promotes environmental and/or social characteristics within the meaning of Article 8 of the Regulation (EU) 2019/2088 of 27 November 2019 on sustainabilityrelated disclosures in the financial sector.,specific "Pre-investment, green, social and sustainable bonds are assessed via Robeco's Green Bond Framework and Social Framework, as well as via Robeco's SDG Framework.",specific "The Sub-fund promotes environmental and/or social characteristics, within the meaning of Article 8 of the Regulation (EU) 2019/2088 of 27 November 2019 on sustainability-related disclosures in the financial sector.",specific "o Via the environmental footprint performance targets of the Sub-Fund, the following PAIs are considered: - Carbon footprint (PAI 2, Table 1)",specific The Subfund promotes environmental and/or social characteristics within the meaning of Article 8 of the Regulation (EU) 2019/2088 of 27 November 2019 on sustainability-related disclosures in the financial sector.,specific "Via the carbon footprint performance target of the Sub-Fund, the PAI on Carbon footprint (PAI 2, Table 1) is considerd via the Paris-Aligned Benchmark. ",specific "o Via the application of the voting policy, the following PAIs are considered: - All indicators related to GHG emissions (PAI 1-6, Table 1)",specific "Via the carbon footprint performance target of the Sub-Fund, the PAI on Carbon footprint (PAI 2, Table 1) is considered via the Paris-Aligned Benchmark. ",specific "Global Diversified Sovereign Index applies environmental, social and governance (“ESG”) considerations to its broader parent index, the J.P. Morgan EMBI Global Diversified Sovereign Index.",specific "Pre-investment, Robeco's SDG Framework assesses companies' positive and negative contributions to the Sustainable Development Goals (SDGs).",specific "For Social bonds, Robeco considers board gender diversity (Table 1, PAI 13) depending on whether the use of proceeds of the social bond will tackle gender diversity issues. ",specific "� MSCI ESG Controversies provides assessments of controversies concerning the negative ESG impact of company operations, products and services.",specific The Sub-fund has the following sustainability indicators to measure the attainment of the E/S characteristics of the government and government-related bonds: 1. ,specific "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS - All indicators related to GHG emissions, as part of the required Climate Risk analysis (PAI 1-6, Table 1, PAI 4, Table 2) - Biodiversity, water and waste indicators (PAI 7-9, Table 1) - Board gender diversity (PAI 13, Table 1)",specific "Via these frameworks, the following adverse impacts are directly considered: - Table 1, PAI 10 (Violations of the UN Global Compact principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises) - Table 1, PAI 14 (Exposure to controversial weapons)",specific "The most recent version of the Robeco Exclusion Policy can be found on https://www.robeco.com/exclusions, including the criteria and to which funds they apply. ",specific "The ESG criteria used to score each issuer in the parent index reflect their application to sovereign issuers, including environmental (e.g., access to water, energy sources and pollution) governance (e.g., corruption and political liberties), and social (e.g., education access and life expectancy).",specific Yes The Sub-fund considers principal adverse impacts on sustainability factors as referred to in Annex I of the SFDR Delegated Act. ,specific "Social factors include, but are not limited to, diversity, health and safety, human rights, indigenous nations, engagement and community outreach.",specific "Robeco's Exclusion Policy includes an explanation of how Robeco acts in accordance with the International Labor Organization (ILO) standards, United Nations Guiding Principles (UNGPs), United Nations Global Compact (UNGC) Principles and the Organization for Economic Co-operation and Development (OECD)",specific "Post-investment, the following principal adverse impacts on sustainability factors are taken into account via Robeco's entity engagement program: - All indicators related to Climate and other environment-related indicators (PAI 1-9, Table 1) - Violations of the UN Global Compact Principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises (PAI 10, Table 1)",specific "For a large share of Green, Social and Sustainable bonds, Robeco adds an extra assessment on sustainability factors by applying Robeco's Green Bonds Framework or Social Bond Framework. ",specific "-investment, Robeco's SDG Framework assesses companies' positive and negative contributions to the Sustainable Development Goals (SDGs).",specific "Amongst others, the Sub-fund applies normsbased, activity-based and regional exclusions, Robeco's good governance policy and considers Principal Adverse Impacts in the investment process. ",specific "Robeco's Exclusion Policy includes an explanation of how Robeco acts in accordance with the International Labor Organization (ILO) standards, United Nations Guiding Principles",specific Robeco's ESG bond eligibility frameworks require that international norms related to social and governance issues are met.,specific "Post-investment, the following principal adverse impacts on sustainability factors are taken into account: o Via Robeco's entity engagement program, the following PAIs are considered: - All indicators related to Climate and other environment-related indicators (PAI 1-9, Table 1)",specific "As per index rules, the promotion or demotion into or out of each quintile will also impact green bonds issued by the respective issuer.",specific Green bonds from excluded issuers are also not eligible for inclusion.,specific The Fund’s ESG methodology actively utilizes both proprietary ESG scoring and ESG exclusionary screening to construct the Fund’s portfolio.,specific All sustainable investments are constituents of Solactive Paris Aligned Global Corporate Index or follow the benchmark methodology.,specific The Fund has the following threshold responsibility standards which are applied in determining whether a security qualifies as an investment for the Fund: v The Fund will seek to avoid investing in companies that manufacture tobacco products.,specific "The Sub-fund promotes adherence to and conducting business activities in accordance with the United Nations Universal Declaration of Human Rights, the International Labor Organization's (ILO) labor standards, the United Nations Guiding Principles for Business and Human Rights (UNGPs), the United Nations Global Compact (UNGC) and the OECD Guidelines for Multinational Enterprises, by scrutinizing companies that violate these principles. ",specific "Given that sustainable investment objective of the Sub-fund of reducing the carbon footprint of its portfolio, the reference index is aligned with such objective of the Sub-fund by applying in its methodology clearly defined rules for evaluating securities on their carbon footprint. ",specific For corporate bonds the Benchmark aims to represent the performance of an investment strategy that is aligned with the technical standards for EU Paris Aligned Benchmarks in areas such as exclusions and carbon reduction objectives.,specific "RIAM acts in accordance with the United Nations Global Compact and the OECD Guidelines for Multinational Enterprises to assess the companies, where principles about human rights, labor standards, the environment and anti-corruption are taken into consideration and may lead to an exclusion of the companies from the investment universe if breached.",specific The Index Provider seeks to achieve this target percentage through a three step process that uses the ESG scores assigned to the remaining companies by the Index Provider as the determining factor.,specific "Companies are analyzed by the investment adviser’s ESG analysts utilizing The Calvert Principles for Responsible Investment (“Principles”), a framework for considering ESG factors (a copy of which is included as an appendix to the Fund’s Prospectus).",specific "Lastly, the Index Provider excludes companies from the Underlying Index that are determined by Sustainalytics to be “noncompliant” with the principles of the United Nations Global Compact (UNGC).",specific The reference index is aligned with the carbon reduction objective of the Sub-fund by applying a methodology with clearly defined rules for evaluating securities on their carbon footprint.,specific "Fixed Income ETFs iShares ESG Aware U.S. Aggregate Bond ETF seeks to track the investment results of the Bloomberg Barclays MSCI US Aggregate ESG Focus Index (the “Underlying Index”), which has been developed by Bloomberg Barclays Capital Inc. (the “Index Provider” or “Bloomberg Barclays”) with ESG rating inputs from MSCI ESG Research LLC (“MSCI ESG Research”) pursuant to an agreement between MSCI ESG Research and Bloomberg Index Services Limited (a subsidiary of Bloomberg Barclays) or an affiliate.",specific "The Sub-fund also applies the aforementioned exclusion criteria, and the Sub-fund's weighted carbon footprint score is always better than the Solactive Paris Aligned Global Corporate Index.",specific "A company is determined to be “noncompliant” if it does not act in accordance with the UNGC principles and their associated standards, conventions and treaties, including the Organization for Economic Co-operation and Development (OECD) Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights.",specific "iShares ESG Aware MSCI USA ETF seeks to track the investment results of the MSCI USA Extended ESG Focus Index (the “Underlying Index”), which has been developed by MSCI Inc. (the “Index Provider” or “MSCI”).",specific "The Sub-fund does not invest in activities that are excluded on the basis of Article 12 of the EU regulation Climate Transition Benchmarks, EU Paris-aligned Benchmarks and sustainability-related disclosures for benchmarks as applicable.",specific "The consideration of this PAI is currently restricted to applying exclusions to palm oil producing companies and for any breaches to the UNGC, UNGP and OECD Guidelines for Multinational Enterprises in relation to biodiversity. - Exposure to controversial weapons (anti-personnel mines, cluster munitions, chemical weapons (PAI 14, Table 1)",specific Objective The Sub-fund has as its sustainable investment objective to contribute to keeping the maximum global temperature rise well-below 2°C by reducing the carbon footprint of the portfolio in line with the MSCI USA Climate Paris Aligned Index.,specific Objective The Sub-fund has as its sustainable investment objective to contribute to keeping the maximum global temperature rise well-below 2°C by reducing the carbon footprint of the portfolio in line with the MSCI World Climate Change Index.,specific "The Underlying Index selects its components from all the constituent companies of the S&P MidCap 400 Index, but excludes (i) companies that have either no Index Provider ESG scores or disqualifying Index Provider ESG scores; (ii) companies engaged in specific business activities; and/or (iii) companies determined to be “non-compliant” by Sustainalytics with the principles of the United Nations Global Compact (“UNGC”), all as further described below.",specific Corporate debt and government securities that meet a minimum ESG rating threshold are eligible for inclusion in the Index.,specific "Green house Gas emissions The emissions in terms of tonnes of CO2 equivalent of carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), nitrogen trifluoride (NF3) and sulphur hexafluoride (SF6) as defined under point (1) of Article 3 of Regulation (EU) 2018/842 of the European Parliament and of the Council. ",specific "The Sub-fund invests a minimum of 2% in green, social, sustainable, and/or sustainability-linked bonds. ",specific Meeting all four criteria is required for bonds issued after the publication of the Green Bond Principles in January 2014.,specific "The Sub-fund invests a minimum of 10% in green, social, sustainable or sustainability-linked bonds. ",specific "Via Robeco's entity engagement program, the following PAIs are considered: - All indicators related to Climate and other environment-related indicators (PAI 1-9, Table 1) - Violations of the UN Global Compact Principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises (PAI 10, Table 1) - In addition, based on a yearly review of Robeco's performance on all mandatory and selected voluntary indicators, holdings of the Sub-fund that cause adverse impact might be selected for engagement. ",specific "Engage in the business of controversial weapons (cluster weapons, landmines (anti-personnel mines), biological or chemical weapons, depleted uranium weapons, white phosphorous weapons, nuclear weapons) or hold a 25% or higher stake in a company involved in this activity.",specific "The Sub-fund invests a minimum of 5% in green, social, sustainable, and/or sustainability-linked bonds. ",specific The Fund invests no more than 20% of its net assets in U.S. companies (excluding High Social Impact and Special Equities investments).,specific "The Sub-Fund plans to make a minimum of 90% sustainable investments, defined as investments in green, social or sustainable bonds.",specific "The Fund intends for its portfolio of securities to be aligned with the goals of the United Nationsconvened Net-Zero Asset Owner Alliance which seeks to align portfolios with a sub-2°C scenario, addressing Article 2.1c of the Paris Agreement.",specific "The Sub-fund invests a minimum of 10% in green, social, sustainable and/or sustainability-linked bonds. ",specific "The Sub-fund invests a minimum of 10% in green, social, sustainable, and/or sustainability-linked bonds. ",specific Issuers involved in the generation of electricity above 30% from coal-fired plants are also excluded.,specific "The Sub-Fund, as part of the negative screening process, the Sub-fund commits to a minimum rate of 20% reduction, resulting to excluding the lowest performing companies based on ESG metrics.",specific Up to 3% of an Underlying Fund’s net assets may be invested in High Social Impact Investments.,specific The % of companies with a Gender Equality score below 50 as determined through the thematic universe methodology. ,specific "While the sum of socially sustainable investments and sustainable investments with an environmental objective always adds up to the Sub-fund's minimum proportion of 50% sustainable investments, we do not commit to a minimum share of socially sustainable investments because the Sub-fund's The two graphs below show in green the minimum percentage of investments that are aligned with the EU Taxonomy.",specific "While the sum of sustainable investments with an environmental objective and socially sustainable investments always adds up to the Subfund's minimum proportion of 50% sustainable investments, we do not commit to a minimum share of sustainable investments with an environmental objective because the Sub-fund's investment strategy does x% 100%",specific "The Underlying Index selects its components from all the constituent companies of the S&P 500 Index, but excludes (i) companies that have either no Index Provider ESG scores or disqualifying Index Provider ESG scores; (ii) companies engaged in specific business activities; and/or (iii) companies determined to be “non-compliant” by Sustainalytics with the principles of the UNGC, all as further described below.",specific "The Underlying Index selects its components from all the constituent companies of the S&P SmallCap 600 Index, but excludes (i) companies that have either no Index Provider ESG scores or disqualifying Index Provider ESG scores; (ii) companies engaged in specific business activities; and/or (iii) companies determined to be “noncompliant” by Sustainalytics with the principles of the United Nations Global Compact (“UNGC”), all as further described below.",specific "Stock selection is based on fundamental analysis to invest in companies that are best able to have a clear and measurable improvement in their contribution to the United Nations Sustainable Development Goals (UN SDGs) over three to five years via active engagement, as described in the Investment policy strategy paragraph in Appendix I of this Prospectus.",specific While the sum of socially sustainable investments and sustainable investments with an environmental objective always adds up to the Sub-fund's minimum proportion of 40% sustainable x% 100% 1.,specific No It will make a minimum of sustainable investments with an environmental objective: 0%,specific Up to 3% of a Fund’s net assets may be invested in High Social Impact Investments.,specific "While the sum of socially sustainable investments and sustainable investments with an environmental objective always adds up to the Sub-fund's minimum proportion of 50% sustainable investments, we do not commit to a minimum share of socially sustainable investments because the Subx% 100% 1.",specific "While the sum of sustainable investments with an environmental objective and socially sustainable investments always adds up to the Sub-fund's minimum proportion of 90% sustainable investments, The two graphs below show in green the minimum percentage of investments that are aligned with the EU Taxonomy.",specific The index is constructed by selecting constituents from MSCI USA Index through an optimization process that aims to maximize exposure to ESG factors for a target tracking error budget set to 50 bps under certain constraints.,specific "• Water sustainability companies include those contained in the S&P® Global Water Index or those that, in the Adviser’s opinion, are developing efficiencies, extending the life cycle and/or identifying affordable new technologies to deliver safe, reliable or easily accessible water.",specific It then excludes the securities of companies that faced very severe controversies pertaining to ESG issues in the last three years (based on the Index Provider’s internal ESG rating and score data) and companies involved in controversial weapons (as defined by the Index Provider).,specific Up to 3% of the Fund’s net assets may be invested in High Social Impact Investments.,specific The Sub-fund excludes the bottom 20% ranked companies on ESG from the investment universe. ,specific "While the sum of sustainable investments with an environmental objective and socially sustainable investments always adds up to the Sub-fund's minimum proportion of 2.5% sustainable investments, we do not commit to a minimum share of sustainable investments with an environmental objective because the Sub-fund's investment strategy does not have a specific environmental investment objective.",specific "Via Robeco's entity engagement program, the following PAIs are considered: - All indicators related to Climate and other environment-related indicators (PAI 1-9, Table 1) - Violations of the UN Global Compact Principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises (PAI 10, Table 1).",specific "The first criterion is whether the use of proceeds falls within at least one of six eligible environmental categories defined by MSCI ESG Research: alternative energy, energy efficiency, pollution prevention and control, sustainable water, green building and climate adaption.",specific "The index is constructed by following baseline exclusions (controversial weapons, tobacco, thermal coal mining, environmental controversies) and applies constraints to ensure 30% reduction in weighted average carbon emissions intensity and a 7% reduction year-on-year.",specific "In addition, the Sub-fund plans to make a minimum of 0% of sustainable investments with a social objective.",specific Such screening criteria principally includes: i. issuers that derive any revenue from the production of controversial weapons; ii. issuers that derive any revenue from the production of civilian firearms; iii.,specific "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS o Via Robeco's entity engagement program, the following PAIs are considered: - All indicators related to Climate and other environment-related indicators (PAI 1-9, Table 1) - Violations of the UN Global Compact Principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises (PAI 10, Table 1).",specific The Sub-fund excludes the bottom 15% of the Worldwide Governance Indicators (WGI) - Control of Corruption ranking. ,specific "activity such as the production of thermal coal, thermal coal-based power generation and extraction of oil sands based on revenue or percentage of revenue thresholds for certain categories (e.g., $20 million or 5%) and categorical exclusions for others (e.g., controversial weapons).",specific The Sub-fund intends to contribute to the following environmental objectives of the EU Taxonomy Regulation: • Sustainable use and protection of water and marine resources • Pollution prevention and control The Sub-fund commits to a minimum share of 0% of Taxonomy-aligned activities.,specific "Once included in the Underlying Index, securities will remain constituents as long as they continue to meet the eligibility criteria and the revenue they derive from green building does not fall below 40%.",specific The Sub-fund excludes the bottom 10% ranked companies on ESG from the investment universe. ,specific The Sub-fund uses the MSCI Emerging Markets Climate Paris Aligned Index as a reference index to meet the carbon footprint reduction objective of the Sub-fund and thereby keeping the maximum global temperature rise well-below 2°C. ,specific A primary objective of the Sub-fund is to drive a clear and measurable improvement in a company's contribution to the United Nations Sustainable Development Goals (UN SDGs) over three to five years.,specific "The Sub-fund will take exposure of at least two thirds of its total assets to equities of companies all over the world with high growth potential providing technologies for clean energy production, distribution, power management infrastructure and energy efficiency, which are at the very core of the Smart Energy investment case.",specific "The Index Provider begins with the Parent Index and excludes securities of companies involved in the business of tobacco, companies involved with controversial weapons, producers and retailers of civilian firearms, and companies involved in certain fossil fuels-related activity such as the production of thermal coal, thermal coal-based power generation and extraction of oil sands based on revenue or percentage of revenue thresholds for certain categories (e.g., $20 million or 5%) and categorical exclusions for others (e.g., controversial weapons).",specific "Each investment with an ESG Risk rating of higher than 40 requires separate approval by a dedicated committee of SI specialists, compliance and risk management that oversees the bottom-up sustainability analysis. 5. ",specific The Underlying Index then excludes the securities of companies that faced very severe controversies pertaining to ESG issues in the last three years (based on the Index Provider’s internal ESG rating and score data) and companies involved in controversial weapons (as defined by the methodology of the Index Provider’s Global Ex-Controversial Weapons Indexes).,specific "From this universe of securities, Solactive first seeks to identify only those companies operating in accordance with established standards for responsible ESG conduct in the following manner: Companies in the parent universe are initially excluded from the Underlying Index for: � Failure to observe established norms with respect to environment, human rights, corruption and labor rights (or if incorporated in countries identified with high social risk); � Involvement in controversial weapons (i.e., chemical biological or nuclear weapons, depleted uranium, cluster munitions and anti-personnel mines); or � Deriving a specified percentage of revenues from one of the following sectors (“Sector Criteria”): fossil fuel, oil sands, military, pornography, tobacco, gambling, alcohol or cannabis.",specific The Sub-fund intends to contribute to all 6 environmental objectives under the EU Taxonomy via the investments in green bonds.,specific "Objective The Sub-fund has as its sustainable investment objectives to advance the United Nations Sustainable Development Goals (UN SDGs) by investing in companies whose business models and operational practices are aligned with targets defined by the 17 UN SDGs, and to contribute to keeping the maximum global temperature rise well-below 2°C by reducing the carbon footprint of the portfolio in line with the MSCI All Country World Climate Paris Aligned Index.",specific "Next, based on research and due diligence reviews conducted with the management teams of the eligible issuers, each investment opportunity is scored by the portfolio management team on a scale of 1-5 for risks related to multiple ESG factors under each individual pillar of the ESG framework (1 indicates “no risk” and 5 indicates “high risk”).",specific Net Zero 2050 Climate Equities is an actively managed fund that invests in companies in developed markets who have the objective to contribute to keeping the maximum global temperature rise well-below 2°C and those that have set Net Zero commitments.,specific "If a sovereign issuer in the parent index is only covered by one of those ESG factor valuation input providers, the Index Provider uses the factor valuation from the covering data provider is averaged with the regional average value from the remaining provider to calculate the JESG Score.",specific "Amongst others, the Sub-fund applies norms-based and activity-based exclusions, Robeco's good governance policy and considers Principal Adverse Impacts in the investment process. ",specific "o Via the environmental footprint performance targets of the Sub-Fund, the following PAIs are considered: - Carbon footprint (PAI 2, Table 1) - Water and waste indicators (PAI 7-9, Table 1).",specific "o Via the environmental footprint performance targets of the Sub-Fund, the following PAIs are considered: - Carbon footprint (PAI 2, Table 1), via the Climate Transition Benchmark Post-investment, the following principal adverse impacts on sustainability factors are taken into account: ",specific Robeco's SDG Framework is considered for the analysis of sustainable investments determined by positive scores on this framework.,specific "As per Directive (EU) 2017/828 (EU Shareholder Right Directive), it also encompasses monitoring of investee company on non-financial performance, social and environmental and corporate governance, voting and exercising other shareholder rights and managing of potential conflicts. ",specific The % of investments excluded from the Worldwide Governance Indicators (WGI) - Control of Corruption ranking. ,specific "o Via Robeco's entity engagement program, the following PAIs are considered: - All indicators related to Climate and other environment-related indicators (PAI 1-9, Table 1)",specific "The Sub-fund has sustainable investment as its objective, within the meaning of Article 9 of the Regulation (EU) 2019/2088 of 27 November 2019 on sustainability-related disclosures in the financial sector.",specific "o Via the environmental footprint performance targets of the Sub-Fund, the following PAIs are considered: - Carbon footprint (PAI 2, Table 1), via the Paris-Aligned Benchmark - Water and waste indicators (PAI 8-9, Table 1).",specific "Robeco's Exclusion Policy includes an explanation of how Robeco acts in accordance with the International Labor Organization (ILO) standards, United Nations Guiding Principles (UNGPs), United Nations Global Compact (UNGC) Principles and the Organization for Economic Co-operation and Development (OECD) Guidelines for Multinational Enterprises and is guided by these international treaties to assess the behavior",specific "Post-investment, the following principal adverse impacts on sustainability factors are taken into account: - Table 1, PAI 15 (GHG intensity), via Robeco's engagement program More information is available via Robeco's Principal Adverse Impact Statement, published on Robeco's website.",specific "They are derived from the Universal Declaration of Human Rights, the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the United Nations Convention Against Corruption.",specific The % of investments excluded based on the Worldwide Governance Indicators (WGI) - Control of Corruption ranking. ,specific The sustainable investments are aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights via both Robeco's Exclusion Policy and Robeco's SDG Framework,specific "o Via the applied normative and activity-based exclusions, the following PAIs are considered: - Exposure to companies active in the fossil fuel sector (PAI 4, Table 1)",specific The Sub-fund will use the Custom Bloomberg Climate Transition Benchmark to monitor the carbon profile of the Sub-fund.,specific Self-labeled green bonds are evaluated for potential inclusion in the Underlying Index using the four criteria.,specific The Sub-fund has a carbon-reduction objective and uses a Climate Transition Benchmark to monitor the carbon profile of the Sub-fund.,specific The sustainable investments of the Sub-fund contribute to the sustainable investment objective of keeping the maximum global temperature rise below 2◦C by reducing the carbon footprint of its portfolio. ,specific "In selecting investments for the Fund, CRM is guided by The Calvert Principles for Responsible Investment, which provide a framework for considering environmental, social and governance (“ESG”) factors.",specific "The Sub-fund promotes adherence to and conducting business activities in accordance with the United Nations Universal Declaration of Human Rights, the International Labor Organization's (ILO) labor standards, the United Nations Guiding Principles for Business and Human Rights (UNGPs).",specific The Sub-fund follows the Solactive Paris Aware Global Aggregate Index as a reference index to meet the carbon footprint reduction objective of the Sub-fund. ,specific Details: The sustainable investments in corporates are aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights via Robeco's Exclusion Policy. ,specific The Sub-fund has a carbon-reduction objective and uses the Solactive Paris Aligned Global Corporate Index to monitor the carbon profile of the Sub-fund. ,specific "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS investments with an environmental objective and socially sustainable investments always adds up to the Subfund's minimum proportion of 50% sustainable investments, we do not commit to a minimum share of sustainable investments with an environmental objective because the Sub-fund's investment strategy does not have a specific environmental investment objective.",specific "While the sum of sustainable investments with an environmental objective and socially sustainable investments always adds up to the Subfund's minimum proportion of 60% sustainable investments, we do not commit to a minimum share of x% 100%",specific Investments #1Sustainable 90% Environmental 70% Taxonomy-aligned Other Social #2 Not sustainable 0-10% #1 Sustainable covers sustainable investments with environmental or social objectives. ,specific "Controversies, including, among other things, issues involving anti-competitive practices, toxic emissions and waste, and health and safety, occurring within the last three years lead to a deduction from the overall management score on each issue.",specific "Objective The Sub-fund has as its sustainable investment objective to contribute to keeping the maximum global temperature rise well-below 2°C by reducing the carbon footprint of the portfolio, while at the same time aiming to provide long term capital growth.",specific "Via the ESG integration process, as part of the investment due diligence policies and procedures, the following PAIs are considered: - All indicators related to GHG emissions, as part of the required Climate Risk analysis (PAI 1-6, Table 1, PAI 4, Table 2) - Water and waste indicators (PAI 7-9, Table 1) Post-investment, the following principal adverse impacts on sustainability factors are taken into account via Robeco's entity engagement program: - All indicators related to Climate and other environment-related indicators (PAI 1-9, Table 1) - Violations of the UN Global Compact Principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises (PAI 10, Table 1).",specific "All issuers within the lowest quintile are removed from consideration for the Underlying Index, and the remainder are either weighted up or down based on which quintile they were scored in; with the best performers being weighted more heavily, and the remaining lower scoring issuers being weighted more lightly.",specific "o Via Robeco's entity engagement program, the following PAIs are considered: - All indicators related to Climate and other environment-related indicators (PAI 1-9, Table 1) - Violations of the UN Global Compact Principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises (PAI 10, Table 1) - Activities negatively affecting biodiversity sensitive areas (PAI 7, Table 1).",specific "The foregoing is implemented by mainly investing in companies that advance the following United Nations Sustainable Development Goals (UN SDGs): Zero hunger (SDG 2), Good health and wellbeing (SDG 3), and Clean water and sanitation (SDG 6).",specific "The foregoing is implemented by mainly investing in companies that advance the following United Nations Sustainable Development Goals (UN SDGs): Affordable and clean energy goal (SDG 7), Decent work and economic growth (SDG 8), Industry, innovation and infrastructure (SDG 9), Sustainable cities and communities (SDG 11) and Climate action (SDG 13).",specific "The investments in the category non-sustainable, estimated between 0-10%, are mostly in cash Taxonomy-aligned activities are expressed as a share of: - turnover reflecting the share of revenue from green activities of investee companies - capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy. - operational expenditure (OpEx) reflecting green operational activities of investee companies.",specific "Positive SDG scores (+1, +2, +3) are regarded as sustainable investments.",specific "Post-investment, the following principal adverse impacts on sustainability factors are taken into account: o Via Robeco's entity engagement program, the following PAIs are considered: - All indicators related to Climate and other environment-related indicators (PAI 1-9, Table 1) - Violations of the UN Global Compact Principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises (PAI 10, Table 1).",specific "The foregoing is implemented by mainly invested in companies that advance the following United Nations Sustainable Development Goals (UN SDGs): Good health and well-being (SDG 3), Industry, Innovation and infrastructure (SDG 9), Responsible consumption and production (SDG 12), Life below water (SDG 14) and Life on Land (SDG 15). ",specific The Sub-fund pursues an objective of keeping the maximum global temperature rise below 2◦C by reducing the carbon footprint of its portfolio. ,specific "The foregoing is implemented by mainly investing in companies that advance the following United Nations Sustainable Development Goals (UN SDGs): Zero Hunger (SDG 2), Good health and well-being (SDG 3), Decent work and economic growth (SDG 8), Industry, innovation and infrastructure (SDG 9), Sustainable cities and communities (SDG 11) and Responsible consumption and production (SDG 12).",specific The Sub-fund follows the Solactive Paris Aware Global Aggregate Index as a reference index to meet the carbon footprint reduction objective of the Sub-fund and thereby keeping the maximum global temperature rise below 2°C. ,specific "In addition, the Index Provider follows a quarterly eligibility check whereby any current member of the Underlying Index that is found to be failing the above-described business activity criteria or UNGC eligibility criteria is removed by the Index Provider from the Underlying Index.",specific "Via the applied normative and activity-based exclusions, the following PAIs are considered: - Exposure to companies active in the fossil fuel sector (PAI 4, Table 1) - Violations of the UN Global Compact Principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises (PAI 10, Table 1) - Activities negatively affecting biodiversity-sensitive areas (PAI 7, Table 1).",specific "linked with green and climate friendly assets or projects, the security will be upgraded one quintile from the quintile to which it originally was assigned.",specific "After excluding the companies that do not meet the foregoing screens, the Index Provider populates the Underlying Index by selecting from the remaining companies in the S&P SmallCap 600 Index (the “Eligible Universe”).",specific "Via the ESG integration process, as part of the investment due diligence policies and procedures, the following PAIs are considered: - All indicators related to GHG emissions, as part of the required Climate Risk analysis (PAI 1-6, Table 1, PAI 4, Table 2) - Water and waste indicators (PAI 7-9, Table 1) Post-investment, the following principal adverse impacts on sustainability factors are taken into account via Robeco's entity engagement program: - All indicators related to Climate and other environment-related indicators (PAI 1-9, Table 1)",specific "Yes, the Sub-fund uses the MSCI World Climate Change Index as a reference index to meet the carbon footprint reduction objective of the Sub-fund and thereby keeping the maximum global temperature rise well-below 2°C.",specific QI Global SDG & Climate Multi-Factor Credits is an actively managed fund that invests systematically in predominantly investment grade bonds of companies that advance the United Nations Sustainable Development Goals (SDGs) and contribute to maintaining the global temperature rise below 2°C.,specific "The model recommends those remaining companies that exhibit the highest combined ESG Consensus Score and fundamental and technical factors, which are then weighted on a modified marketcapitalization basis.",specific "Yes, the Sub-fund uses the MSCI All Country World Climate Paris Aligned Index as a reference index to meet the carbon footprint reduction objective of the Sub-fund and thereby keeping the maximum global temperature rise well-below 2°C. ",specific "The index uses data such as MSCI Climate Change Metrics, MSCI Climate Value-at-Risk, MSCI ESG Sustainable Impact Metrics, MSCI ESG Controversies and MSCI Business Involvement Screening Research) as of the end of the month, preceding the Index Reviews, for the rebalancing of the index. ",specific QI Global SDG & Climate Multi-Factor Equities is an actively managed fund that invests in low-volatility stocks of companies globally that advance the United Nations Sustainable Development Goals (SDGs) and contribute to maintaining the global temperature rise below 2°C.,specific "This means that amongst others, the reference index complies with those criteria set out in Article 12 of the EU Climate Transition Benchmarks, EU Paris-aligned Benchmarks and sustainability-related disclosures for benchmarks.",specific "Objective The Sub-fund has as its sustainable investment objectives to advance the United Nations Sustainable Development Goals (UN SDGs) by investing in companies whose business models and operational practices are aligned with targets defined by the 17 UN SDGs, and to contribute to keeping the maximum global temperature rise well-below 2◦C by reducing the carbon footprint of the portfolio in line with the Solactive Paris Aligned Global Corporate Index.",specific "Yes, the Sub-fund follows the Solactive Paris Aligned Global Corporate Index as a reference index to meet the carbon footprint reduction objective of the Sub-fund and thereby keeping the maximum global temperature rise well-below 2°C.",specific "-investment, the following principal adverse impacts on sustainability factors are considered: As part of Country Sustainability ranking, used for The Sub-fundamental analysis of bonds, the following PAIs are considered: - Table 1, PAI 15 (GHG intensity) - Table 1, PAI 16 (Investee countries subject to social violations) ",specific "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS o Via the application of the voting policy, the following PAIs are considered: - All indicators related to GHG emissions (PAI 1-6, Table 1) - Indicators in related to social and employee matters (PAI 10-13, Table 1; PAI 5-8, Table 3) ",specific "After excluding the above-described companies, the Index Provider the Index Provider populates the Underlying Index by selecting from the remaining companies in the S&P MidCap 400 Index (the “Eligible Universe”).",specific "Post-investment, the following principal adverse impacts on sustainability factors are taken into account: o Via Robeco's entity engagement program, the following PAIs are considered: - All indicators related to Climate and other environment-related indicators (PAI 1-9, Table 1) - Violations of the UN Global Compact Principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises (PAI 10, Table 1) - Activities negatively affecting biodiversity sensitive areas (PAI 7, Table 1).",specific "The consideration of this PAI is currently restricted to applying exclusions to palm oil producing companies and for any breaches to the UNGC, UNGP and OECD Guidelines for Multinational Enterprises in relation to biodiversity. - Exposure to controversial weapons (anti-personnel mines, cluster munitions, chemical weapons (PAI 14, Table 1) Post-investment, the following principal adverse impacts on sustainability factors are taken into account via Robeco's entity engagement program: - All indicators related to Climate and other environment-related indicators (PAI 1-9, Table 1) - Violations of the UN Global Compact Principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises (PAI 10, Table 1).",specific "The Fund’s social evaluation factors focus on matters including any one or more of the following factors: economic impact, access to affordable healthcare and community health promotion, and access to education opportunities.",specific The Underlying Index is designed to achieve a target level of tracking relative to the MSCI ACWI Index (the “Parent Index”) while minimizing carbon exposure.,specific The Sub-fund contributes to keeping the maximum global temperature rise well-below 2°C by reducing the carbon footprint of its global equity portfolio.,specific "o Via the ESG integration process, as part of the investment due diligence policies and procedures, the following PAIs are considered: - All indicators related to GHG emissions, as part of the required Climate Risk analysis (PAI 1-6, Table 1, PAI 4, Table 2) - Biodiversity, water and waste indicators (PAI 7-9, Table 1) when relevant for the sector - Board gender diversity (PAI 13, Table 1)",specific The Sub-fund promotes driving a clear and measurable improvement in a company's contribution to the United Nations Sustainable Development Goals (SDGs) over three to five years by performing engagement. ,specific "In addition, the Sub-fund's portfolio complies with Robeco's Exclusion Policy (https://www.robeco.com/docm/docu-exclusion-policy.pdf), that is based on exclusion criteria",specific "o Via the ESG integration process, as part of the investment due diligence policies and procedures, the following PAIs are considered: - All indicators related to GHG emissions, as part of the required Climate Risk analysis (PAI 1-6, Table 1, PAI 4, Table 2) - Biodiversity, water and waste indicators (PAI 7-9, Table 1) ",specific "Robeco's Exclusion Policy includes an explanation of how Robeco acts in accordance with the International Labor Organization (ILO) standards, United Nations Guiding Principles (UNGPs), United Nations Global Compact (UNGC) Principles and the Organization for Economic Co-operation and Development (OECD) Guidelines for Multinational Enterprises and is guided by these international treaties to assess the behavior.",specific The Sub-fund advances the United Nation's Sustainable Development Goals (SDGs) and the Sub-fund contributes to keeping the maximum global temperature rise well-below 2°C by reducing the carbon footprint of its equity portfolio directed to global markets.,specific "o Via the application of the voting policy, the following PAIs are considered: - All indicators related to GHG emissions (PAI 1-6, Table 1) - Indicators in related to social and employee matters (PAI 10-13, Table 1; PAI 5-8, Table 3) ",specific Details: The sustainable investments are aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights via both Robeco's Exclusion Policy as well as Robeco's SDG Framework. ,specific "o Via the ESG integration process, as part of the investment due diligence policies and procedures, the following PAIs are considered: - All indicators related to GHG emissions, as part of the required Climate Risk analysis (PAI 1-6, Table 1, PAI 4, Table 2)",specific "The sustainable investments are aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights via Robeco's Exclusion Policy, Robeco's SDG Framework, and the methodology of the benchmark provider.",specific "-investment, the following principal adverse impacts on sustainability factors are considered via the applied normative and activity-based exclusions: - Exposure to companies active in the fossil fuel sector (PAI 4, Table 1) - Violations of the UN Global Compact Principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises (PAI 10, Table 1) - Activities negatively affecting biodiversity-sensitive areas (PAI 7, Table 1).",specific "The sustainable investments are aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights via both Robeco's Exclusion Policy and Robeco's SDG Framework Robeco's Exclusion Policy includes an explanation of how Robeco acts in accordance with the International Labor Organization (ILO) standards, United Nations Guiding Principles (UNGPs), United Nations Global Compact (UNGC) Principles and the Organization for Economic Co-operation and Development (OECD) Guidelines for Multinational Enterprises and is guided by these international treaties to assess the behavior of companies.",specific "While the sum of sustainable investments with an environmental objective and socially sustainable investments always adds up to the Sub-fund's minimum proportion of 90% sustainable investments, we do not commit to a minimum share of sustainable investments with an environmental objective because the Sub-fund's investment strategy does not have a sole environmental investment objective. ",specific "In addition, companies that were initially excluded based on the Sector Criteria or for being incorporated in countries identified with high social risk may still be included in the Underlying Index if they have committed to setting “science-based” greenhouse gas emissions reduction targets by signing on to the Science Based Targets initiative (“SBTi”).",specific The Sub-fund's weighted carbon footprint score is better than that of the market index. ,specific The Sub-fund's weighted carbon footprint is better than that of the general market index. ,specific The MSCI All Country World Climate Paris Aligned Index is consistent with the low carbon sustainable investment objective of the Sub-fund.,specific "The Sub-fund's carbon, water and waste footprint score is better than that of the general market index. ",specific The Sub-fund promotes having a weighted average ESG score that is better than that of the general market index. ,specific The Sub-fund's promotes having a weighted average ESG score that is better than that of the market index. ,specific The Sub-fund's promotes having a weighted average ESG score that is better than that of the corporate bonds in the general market index. ,specific "The Sub-fund's carbon, water and waste footprint score per asset class/ sub-strategy is better than that of the applicable general market index. ",specific The Sub-fund's weighted average ESG score is better than that of the Paris Aligned Benchmark. ,specific The Sub-fund's weighted carbon footprint score is better than that of the Paris aligned benchmark. ,specific The Sub-fund's weighted average ESG score per asset class/ sub strategy is better than that of the applicable general market index. ,specific The Sub-fund's weighted average ESG score is better than that of the general market index.,specific The Sub-fund intends to contribute to the environmental objective of Climate Mitigation under the EU Taxonomy. ,specific "In addition, BFA will provide annual public reporting on the Fund’s progress in lowering greenhouse gas emissions/climate-positive investments over the previous year.",specific "Principal Investment Strategies The Fund seeks to track the investment results of the MSCI ACWI Low Carbon Target Index (the “Underlying Index”), which has been developed by MSCI Inc. (the “Index Provider” or “MSCI”).",specific "Principal Investment Strategies The Fund seeks to track the investment results of the Bloomberg MSCI USD Green Bond Select Index (the “Underlying Index”), which measures the performance of U.S. dollardenominated investment-grade (as determined by Bloomberg Index Services Limited, a subsidiary of Bloomberg Capital, Inc. (the “Index Provider” or “Bloomberg”)) green bonds issued by U.S. and non-U.S. issuers to fund projects with direct environmental benefits.",specific "Investment Objective Nuveen ESG Dividend ETF (the “Fund”) seeks to track the investment results, before fees and expenses, of the TIAA ESG USA High Dividend Yield Index (the “Index”). ",specific "Objective The Sub-fund has as its sustainable investment objective to finance or re-finance in part or in full new and/or existing environmentally-friendly projects by investing in Green Bonds, while at the same time aiming to provide long term capital growth.",specific "Sustainable investments that are not constituents of Paris-Aligned Benchmark, should all have a positive score on Robeco's SDG Framework.",specific "Under the frameworks, ESG bond investments are assessed on (i) social safeguards the issuer respects international Human and Labor Rights, (ii) controversial behavior the issuer is not in violation of the UN Global Compact, and (iii) sanctions the issuer is not subject to international sanctions. ",specific A part of the investments made by the Sub-fund contribute to the following environmental objectives of the Taxonomy regulation: • Sustainable use and protection of water and marine resources • Pollution prevention and control.,ambiguous "Pursuant to the Principles, the investment adviser seeks to identify companies and other issuers that operate in a manner that is consistent with or promotes environmental sustainability and resource efficiency, equitable societies and respect for human rights, and accountable governance and transparency.",ambiguous "The Sub-fund will invest in companies that foster resource-efficient business models with regard to the production and consumption of consumer goods aligned with circular economy principles, that actively contribute to the reduction of waste, develop material that can be reused or recycled, manage efficient logistics and waste management systems or promote an eco-friendly nutrition and lifestyle.",ambiguous The Underlying Index is comprised of companies that focus on offering products or services that contribute to a more environmentally sustainable economy by making a more efficient use of limited global natural resources.,ambiguous The portfolio managers seek to invest in companies that manage ESG risk exposures adequately and that are not exposed to excessive ESG risk through their principal business activities.,ambiguous "The Underlying Index is comprised primarily of companies whose technologies focus on the generation and use of cleaner energy, conservation and efficiency, and the advancement of renewable energy in general, as determined by the Index Provider.",ambiguous v The Fund will critically evaluate companies that significantly support governments that are under U.S. or international sanction for grave human rights abuses such as genocide or forced labor.,ambiguous "Such investments will generally not be subject to responsible investment analysis and will not be required to be consistent with the responsible investment criteria otherwise applicable to investments made by the Fund, unless the Fund invests in an affiliated investment company that invests in high quality short-term instruments, and in selecting such investments, is guided by The Calvert Principles for Responsible Investment.",ambiguous "The portfolio manager(s) seek to invest in companies that manage environmental, social and governance (“ESG”) risk exposures adequately and that are not exposed to excessive ESG risk through their principal business activities.",ambiguous "In addition to identifying companies with strong fundamental and technical factors through the use of traditional financial data, the model seeks to identify companies with the most favorable ESG characteristics using ESG data provided by Sustainalytics and ESG Consensus Scores developed and administered by OWL ESG.",ambiguous CRM seeks to include in the Index issuers that manage ESG risk exposures adequately and that are not exposed to excessive ESG risk through their principal business activities.,ambiguous v The Fund will seek to avoid investing in companies that have significant and direct involvement in the manufacturing of alcoholic beverages or gambling.,ambiguous "Larger companies with diversified businesses may be included in the Underlying Index, but only when they have significant exposure to clean or renewable energy, as determined by a proprietary methodology. ",ambiguous About Responsible Investing Investment Selection Process CRM seeks to invest in issuers that manage ESG risk exposures adequately and that are not exposed to excessive ESG risk through their principal business activities.,ambiguous CRM seeks to invest in issuers that manage ESG risk exposures adequately and that are not exposed to excessive ESG risk through their principal business activities.,ambiguous "• selecting companies with the potential for sustainable growth due to the development, advancement, and use of products and services that are furthering the transition to a lower carbon economy.",ambiguous "The environmental objectives of the Sub-fund are attained by investing in companies with a low carbon footprint, in line with a low carbon scenario.",ambiguous "As a responsible investor, Calvert Research and Management seeks to invest in companies and other issuers that provide positive leadership in the areas of their operations and overall activities that are material to improving long-term shareholder value and societal outcomes.",ambiguous "The environmental objectives of the Sub-fund are attained by investing in companies with a low carbon footprint, in line with a low carbon scenario stipulated by the benchmark methodology.",ambiguous The Fund will seek to invest in companies with sustainable business models which have a strong consideration for ESG risks and opportunities.,ambiguous "The inclusion of a company is based on meaningful exposure to clean energy with a company being required to have the primary part of its business activities focused on new energy innovation, with limited fossil fuel exposure absent an emphasis on decarbonization.",ambiguous "In constructing and managing the Fund’s portfolio, BFA will evaluate certain environmental criteria of securities, including metrics related to carbon intensity and carbon emissions generated by the companies that issued those securities, utilizing proprietary BFA research.",ambiguous "Principal Investment Strategies The Fund seeks to maximize total return by primarily investing in companies that BFA believes are furthering the transition to a lower carbon economy including themes such as sustainable energy, circular economy, future of transport and nutrition.",ambiguous PROSPECTUS ROBECO CAPITAL GROWTH FUNDS through ESG scoring methodologies using proprietary sustainability research and external resources which are built into the portfolio construction process. ,ambiguous This is done through ESG scoring methodologies using proprietary sustainability research and external resources which are built into the portfolio construction process. ,ambiguous The screening process evaluates a company’s financial performance and certain ESG performance factors assigned scores by the sub-adviser based on data provided by independent ESG research vendors. ,ambiguous The Management Company may use its discretion to invest in companies or sectors not included in the Benchmark based upon opportunities found through fundamental or proprietary ESG research.,ambiguous The Fund seeks to maximize total return by investing in companies that BFA believes are furthering the transition to a lower carbon economy.,ambiguous "In selecting investments for the Fund, the Sub-Adviser seeks companies that contribute to addressing one or more global sustainability challenges in their local and/or international markets.",ambiguous The Sub-fund promotes certain minimum environmental and social safeguards through applying exclusion criteria with regards to products and business practices that Robeco believes are detrimental to society and incompatible with sustainable investment strategies. ,ambiguous "Index rules generally exclude companies with significant activities in certain controversial businesses, including those involving alcohol, tobacco, nuclear power, gambling, and firearms and other weapons, among others.",ambiguous "Stocks are selected primarily on the basis of fundamental research, utilizing the information provided by, and the expertise of, the investment adviser’s research staff and consideration of the responsible investing criteria described below.",ambiguous The Sub-fund will focus on investing in mid cap companies that are undervalued and combine attractive valuation with a catalyst for change.,ambiguous "The Fund relies on the Index Provider for the identification of securities for inclusion in the Underlying Index that provide exposure to the environmental theme of “green building”, as set forth in the Underlying Index’s methodology.",ambiguous "The Fund relies on the Index Provider for the identification of securities for inclusion in the Underlying Index that reflect the Environmental Impact Themes, as set forth in the Underlying Index’s methodology.",ambiguous "A Further Discussion of Principal Investment Strategies Each Fund allocates and reallocates its assets among a combination of equity and bond index funds, including those that seek to maximize exposure to companies with higher environmental, social and governance (“ESG”) ratings as measured by MSCI, Inc. (“MSCI”), and money market funds (the “Underlying Funds”) in proportions based on its own comprehensive investment strategy.",ambiguous "While the Fund seeks to invest in companies with positive or favorable environmental and social characteristics, companies in the industrials sector may be adversely affected by liability for environmental damage and product liability claims.",ambiguous "Under the JESG Index methodology, including for the Underlying Index, the Index Provider obtains ESG factor valuations for each sovereign issuer in the parent index from RepRisk and Sustainalytics, which are investment research providers dedicated to responsible investing and ESG research.",ambiguous The Sub-fund limits investing in companies with an elevated sustainability risk based on ESG risk scores whereas all such investments require separate approval of a dedicated committee that oversees that all investments are substantiated and eligible based on a fundamental review on the sustainability risk. 4. ,ambiguous "The Fund relies on the Index Provider for the identification of securities for inclusion in the Underlying Index that reflect the environmental theme of “green building”, as set forth in the Underlying Index’s methodology.",ambiguous "The ESG investment screens also take into consideration Sustainalytics’ Global Standards Screening (“GSS”) data to exclude companies that cause, contribute or are linked to violations of international norms and standards.",ambiguous "In accordance with its asset allocation strategy, the Fund will invest in Calvert income and equity funds that consider responsible investment criteria including environmental, social and governance (“ESG”) factors.",ambiguous The sustainable investments do no significant harm to any environmental or social sustainable investment objective by considering a principal adverse impact and aligning with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights.,ambiguous The Sub-fund makes sustainable investments with environmental objectives that do not qualify as Taxonomy aligned.,ambiguous The Sub-fund promotes certain minimum environmental and social standards and therefore applies exclusion criteria with regards to products and business practices that Robeco believes are detrimental to society and incompatible with sustainable investment strategies. ,ambiguous The index is constructed by following a detailed exclusion list and by applying constraints to increase the weight of companies with climate transition opportunities and reduce the weight of companies exposed to climate transition risks.,ambiguous "Objective The Sub-fund has as its sustainable investment objective to mitigate the water scarcity challenge and contribute to clean, safe and sustainable water supply by investing in companies active in the fields of distribution, treatment and quality monitoring of water that enable efficiency gains for more economical water use, more and better waste water treatment and improved water infrastructure and quality.",ambiguous "Climate aware companies are those that FMR believes are working to address climate change or its impacts either indirectly through their corporate strategy, or directly through the technology, services, or products they provide.",ambiguous Bloomberg applies Robeco defined criteria on a regular basis to exclude companies which do not comply with the thematic objective of the Sub-fund.,ambiguous "PRINCIPAL INVESTMENT STRATEGIES The fund, using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Underlying Index, which applies environmental, social and governance (“ESG”) considerations to a broader parent index.",ambiguous "MSCI Global Green Building Index The Index Provider compiles, maintains and calculates the Underlying Index, which is comprised of companies that the Index Provider has determined provide exposure to the environmental impact theme of “green building.”",ambiguous "BlackRock has a flexible allocation strategy with a focus on ESG principles which means that it does not have a persistent bias towards particular categories of investment, such as specific countries, industries or style factors (i.e., specific characteristics of companies that may be considered by Fund management to drive returns), but it may make allocation decisions based on such categories at particular times and will have a bias towards investments that BlackRock considers to have strong or improving ESG practices.",ambiguous "For corporate investments, in accordance with Robeco's SDG framework, any off benchmark investments are only considered by the Sub-fund when they have a positive contribution to the UN SDGs and therefore not cause significant harm to any environmental or social sustainable investment objective. ",ambiguous "■ ESG Investing Risk — The Fund intends to screen out particular companies and industries pursuant to certain criteria established by BlackRock, and to incorporate ESG investment insights into its portfolio construction process.",ambiguous "The portfolio managers select securities for the Fund primarily on the basis of fundamental research, including consideration of the responsible investing criteria described below.",ambiguous PROSPECTUS ROBECO CAPITAL GROWTH FUNDS Robeco makes use of a climate risk metric provided by a third party specialized in climate risk. ,ambiguous "• Climate aware companies are those that Fidelity Management & Research Company LLC (FMR) (the Adviser) believes are working to address climate change or its impacts either indirectly through their corporate strategy, or directly through the technology, services, or products they provide.",ambiguous "v Exhibit a pattern and practice directly or through the company’s supply chain of human rights violations or are complicit in human rights violations committed by governments or security forces, including those that are under U.S. or international sanction for human rights abuses.",ambiguous "In addition, the Fund’s focus on companies with low current carbon emissions and limited exposure to fossil fuel reserves might result in certain issuers being excluded from the Fund’s portfolio.",ambiguous "ESG factors are evaluated by the sub-adviser based on data provided by independent ESG research vendors, and the sub-adviser favors companies with leadership in ESG factor performance relative to their peers.",ambiguous Taxonomy-alignment of investments excluding sovereign bonds* Taxonomy-aligned Other investments are sustainable investments with an environmental objective that do not take into account the criteria for environmentally sustainable economic activities under the EU Taxonomy. ,ambiguous "By overweighting companies with low carbon emissions relative to sales and those with low potential carbon emissions from fossil fuel reserves relative to market capitalization, the Underlying Index aims to reflect a lower carbon exposure than that of the broad market.",ambiguous RobecoSAM Biodiversity Equities is an actively managed fund that invests globally in companies that provide innovative materials and process technologies.,ambiguous Investment decisions for the fixed-income portion of the Fund are made primarily on the basis of fundamental and quantitative research conducted by the investment adviser’s research staff and consideration of the responsible investing criteria described below.,ambiguous "Such companies are evaluated for their level of involvement in, and strategic commitment to green building, based on the Index Provider’s internal environmental, social and governance (“ESG”) rating and score data.",ambiguous PROSPECTUS ROBECO CAPITAL GROWTH FUNDS with regards to products and business practices that Robeco believes are detrimental to society and incompatible with sustainable investment strategies.,ambiguous The Sub-fund makes sustainable investments with environmental objectives that do not qualify as Taxonomy-aligned.,ambiguous "The Fund seeks to identify issuers that it believes are better positioned to manage ESG risks and opportunities related to their businesses and to avoid certain companies and industries with ESG related risks, but investors may differ in their views of what constitutes positive or negative ESG criteria.",ambiguous "BlackRock has a flexible allocation strategy with a focus on ESG principles which means that it does not have a persistent bias towards particular categories of investment, such as specific countries, industries or style factors (i.e., specific characteristics of companies that may be considered by Fund management to 12",ambiguous "Gender equality leaders are companies that consciously recognize and promote gender equality by recruiting, nurturing and retaining female talent at all levels of the company's organization, including at the committee and board level. ",ambiguous "In managing the Fund, the portfolio manager seeks to exploit inefficiencies in the smalland mid-cap market through fundamental bottom-up research, including consideration of the responsible investing criteria described below.",ambiguous "Companies are selected through a process of both top-down macro-economic analysis of economic and business conditions, and bottom-up analysis of the business fundamentals of individual companies.",ambiguous "Objective The Sub-fund has as its sustainable investment objective to promote good health and well-being and contribute to an efficient healthcare system in order to mitigate the rising incidence of lifestyle-driven chronic diseases and increasing healthcare costs, by investing in companies that provide technologies, products or services linked to the prevention of disease via eating healthier diets, exercising regularly and reducing the spread of infectious diseases with hygiene measures.",ambiguous "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS applies to the Sub-fund and tests on a set of governance criteria that reflect widely recognized industry established norms and include topics as employee relations, management structure, tax compliance and remuneration.",ambiguous "RobecoSAM Smart Energy Equities is an actively managed fund that invests globally in companies providing technologies for clean energy production, distribution, power management infrastructure and energy efficiency.",ambiguous Any Underlying Fund investment in High Social Impact Investments is fair valued pursuant to valuation procedures adopted by an Underlying Fund’s Board and implemented by the Adviser.,ambiguous "Fund management makes such assessments based on BlackRock’s ESG research, which includes due diligence of ESG risks and opportunities facing an issuer, as well as third-party ESG ratings.",ambiguous "The companies are then assessed by BlackRock based on their ability to manage risks and opportunities including those associated with the infrastructure theme and their ESG risk and opportunity credentials, such as their leadership and governance framework, ability to strategically manage longer-term issues surrounding ESG and the potential impact this may have on a company’s financials.",ambiguous "Objective The Sub-fund has as its sustainable investment objective to mitigate the resource scarcity challenge by investing in innovative materials and process technologies that use less or substitute resources, are more scalable and support decarbonization, deliver efficiency gains and enable more circular systems including recycling and reuse of materials.",ambiguous "The sub-adviser will monitor the decarbonization progress of the Net Zero Transition Companies in the Fund’s portfolio and determine, on an ongoing basis, based on third-party data, public disclosure documents, and in some instances engagement, whether a company continues to qualify as a Net Zero Transition Company. ",ambiguous "Index rules exclude companies with significant activities in the following controversial businesses: alcohol production, tobacco production, nuclear power, gambling, and weapons and firearm production.",ambiguous Investment decisions for the Fund are made primarily on the basis of fundamental and quantitative research conducted by the investment adviser’s research staff and consideration of the responsible investment criteria described below.,ambiguous PROSPECTUS ROBECO CAPITAL GROWTH FUNDS sustainable investments with an environmental objective because the Sub-fund's investment strategy does not have a specific environmental investment objective.,ambiguous "As part of its qualitative assessment, the sub-adviser evaluates each company’s performance, relative to peers, with respect to ESG factors provided by independent ESG research vendors.",ambiguous The BlackRock Future Climate and Sustainable Economy ETF (the “Fund”) seeks to maximize total return by investing in companies that BlackRock Fund Advisors (“BFA”) believes are furthering the transition to a lower carbon economy.,ambiguous "Principal Investment Strategies of the Fund LifePath ESG Index Retirement Fund allocates and reallocates its assets among a combination of equity and bond index funds, including those that seek to maximize exposure to companies with higher environmental, social and governance (“ESG”) ratings as measured by MSCI, Inc., and money market funds (the “Underlying Funds”) in proportions based on its own comprehensive investment strategy.",ambiguous The Adviser is permitted to invest in a security if it determines the security has an acceptable ESG risk profile not withstanding contrary third party data or third party recommendations.,ambiguous "The Fund will invest in those securities which the investment adviser determines to have the best forward total return potential based upon valuation relative to other potential investments and environmental, social and governance (“ESG”) considerations.",ambiguous Robeco deems investing in government bonds (federal or local) of countries where serious violations of human rights or a collapse of the governance structure take place as unsustainable.,ambiguous "The Underlying Index is an optimized equity index designed to produce investment results comparable to the MSCI USA Small Cap Index (the “Parent Index”), while reflecting a higher allocation than that of the Parent Index to companies with favorable ESG profiles (as determined by MSCI).",ambiguous "Following any such investment in a security, CRM will evaluate the issuer to determine if it operates in a manner that is consistent with the Fund’s responsible investment criteria.",ambiguous The Sub-fund does not intend to make investments to sustainable investments with a social objective.,ambiguous "The index provider for an Underlying Fund’s underlying index seeks to identify companies that it believes may have higher ESG ratings, but investors may differ in their views of ESG characteristics.",ambiguous The Index Provider then rates each company’s exposure to each key issue based on the company’s business segment and geographic risk and analyzes the extent to which companies have developed robust strategies and programs to manage ESG risks and opportunities.,ambiguous PROSPECTUS ROBECO CAPITAL GROWTH FUNDS government bonds (federal or local) of countries where serious violations of human rights or a collapse of the governance structure take place as unsustainable.,ambiguous "The investment adviser actively manages the Fund using a disciplined, bottom-up, fundamentally-driven investment methodology and consideration of the responsible investing criteria described below.",ambiguous Any Fund investment in High Social Impact Investments is fair valued pursuant to valuation procedures adopted by a Fund’s Board and implemented by the Adviser.,ambiguous Global SDG Equities is an actively managed fund that invests globally in companies that take action to advance the UN Sustainable Development Goals.,ambiguous "Fund allocates and reallocates its assets among a combination of equity and bond index funds, including those that seek to maximize exposure to companies with higher environmental, social and governance (“ESG”) ratings as measured by MSCI, Inc., and money market funds (the “Underlying Funds”) in proportions based on its own comprehensive investment strategy.",ambiguous "CIC issues Notes with fixed-rates of interest to domestic individuals and institutional investors and the proceeds from the Notes primarily are used to provide financing to community development organizations, projects, funds and other social enterprises across a variety of impact sectors, including community development, microfinance, affordable housing, small business, renewable energy, environmental sustainability, education, health, and sustainable agriculture (collectively, the “Participating Borrowers”) with missions that may include addressing climate change, supporting quality education, promoting financial inclusion, strengthening Calvert International Equity Funds.",ambiguous "CIC issues Notes with fixed-rates of interest to domestic individuals and institutional investors and the proceeds from the Notes primarily are used to provide financing to community development organizations, projects, funds and other social enterprises across Calvert Domestic Equity Funds",ambiguous Sustainable Healthy Living Equities is an actively managed fund that invests globally in companies that promote good health and well-being and contribute to an efficient healthcare system. ,ambiguous ABS and MBS are included in the Index without reference to ESG criteria; other securities for which ESG performance data is not available are excluded from the Index.,ambiguous The Fund may invest in companies whose ESG practices are currently suboptimal.,ambiguous "BlackRock has a flexible allocation strategy with a focus on ESG principles which means that it does not have a persistent bias towards particular categories of investment, such as specific countries, industries or style factors (i.e., specific characteristics of companies that it is considered may drive returns), but it may make allocation decisions based on such categories at particular times and will have a bias towards investments with strong or improving ESG practices.",ambiguous "The Fund will not invest in loans or securities from issuers that have a composite ESG rating or single category E, S, or G pillar rating above levels set within the internal ESG rating methodology, and will seek to divest within a reasonable period of time from investments for which the aggregate ESG rating or single category E, S, or G ratings rise above these limits, as determined by the portfolio managers’ internal rating methodology.",ambiguous "The Sub-fund will take exposure of at least two-thirds of its total assets to equities of companies all over the world, which includes companies incorporated or having the major part of their business activities in mature economies (developed markets) as well as in developing economies (emerging markets) and exhibiting a high level of sustainability and which present a positive influence on the United Nations Sustainable Development Goals. ",ambiguous "The Fund seeks to maintain certain ESG characteristics, climate risk exposure and climate opportunities relative to the Russell 1000®Growth Index (the “Benchmark”).",ambiguous "The Fund seeks to maintain certain ESG characteristics, climate risk exposure and climate opportunities relative to the MSCI EAFE Index (the “Benchmark”).",ambiguous The environmental or social characteristics promoted by a Sub-fund or sustainable investment objective of a Sub-fund is used to identify and assess the relevant material sustainability risk topics.,ambiguous "ESG Integration The structural integration of information on Environmental, Social and Governance (ESG) factors into the investment decision making process.",ambiguous Robeco's Good Governance policy applies to the Sub-fund and tests on a set of governance criteria.,ambiguous The sub-adviser then determines which ESG factors may be material to a company’s future financial performance.,ambiguous "tionally, investors may differ in their interpretations of what constitutes positive or negative ESG characteristics of a company.",ambiguous The Fund’s incorporation of ESG investment insights may affect the Fund’s exposure to certain companies or industries.,ambiguous "Socially responsible norms differ by country and region, and an issuer’s ESG factors or the Adviser’s assessment of such may change over time.",ambiguous The portfolio managers will assess via their due diligence process how a CLO manager incorporates ESG considerations into its asset selection process.,ambiguous Successful application of the Fund’s responsible investment strategy will depend on the investment adviser’s and sub-adviser’s skill in properly identifying and analyzing material ESG issues.,ambiguous "In assessing issuers for which data is limited, subjective judgments may serve as the primary basis for the Sub-Adviser’s evaluation.",ambiguous "ESG standards differ by region and industry, and a company’s ESG practices or the Subadviser’s assessment of a company’s ESG practices may change over time.",ambiguous "The sustainable investments of the Sub-fund aim to help mitigate the global challenges related to scarcity, quality, and allocation of water.",ambiguous Sustainable investments with an environmental objective might be aligned with the Taxonomy or not. ,ambiguous "Some of the sustainable investments are green bonds, and therefore contribute to the environmental objectives under EU Taxonomy. ",ambiguous CRM may propose that companies submit resolutions to their shareholders on a variety of ESG issues.,ambiguous Investing on the basis of carbon emissions criteria is qualitative and subjective by nature. ,ambiguous "While the sub-adviser believes its evaluation of these carbon reducing characteristics is reasonable, the decisions the sub-adviser makes may differ with other investors’ or advisers’ views regarding carbon reduction characteristics. ",ambiguous Companies that breach the international norms will be excluded from the investment universe. 4. ,ambiguous "PRINCIPAL INVESTMENT STRATEGIES The fund, using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Underlying Index, which is a capitalization weighted index that provides exposure to companies with high environmental, social and governance (“ESG”) performance relative to their sector peers.",ambiguous "■ ESG Investing Risk — The Fund intends to screen out particular issuers pursuant to certain criteria established by BlackRock, and to measure ESG characteristics, including characteristics related to climate, with respect to certain investments pursuant to a methodology determined by BlackRock.",ambiguous The Sub-fund promotes investment in a portfolio that advances social impact by investing in gender equality leaders combined with sustainable business practices. ,ambiguous "Sustainable Investing Exclusions As part of its investment approach, the fund also applies broad criteria (“exclusion criteria”) that seek to exclude issuers that are directly engaged in, and/or derive significant revenue from, certain industries or product lines.",ambiguous "Such excluded issuers are those with substantial involvement in the production of tobacco products, controversial weapons, engagement in cultivation, production or distribution of recreational cannabis, extraction of thermal coal, and extraction of fossil fuels from unconventional sources.",ambiguous "CICissues Notes with fixed-rates of interest to domestic individuals and institutional investors and the proceeds from the Notes primarily are used to provide financing to community development organizations, projects, funds and other social enterprises across a variety of impact sectors, including community development, microfinance, affordable housing, small business, renewable energy, environmental sustainability, education, health, and sustainable agriculture (collectively, the “Participating Borrowers”) with missions that may include addressing climate change, supporting quality education, promoting financial inclusion, strengthening women’s empowerment, and increasing access to quality affordable housing.",ambiguous PROSPECTUS ROBECO CAPITAL GROWTH FUNDS have been taken into account by ensuring that the investments do no significant harm to any environmental or social objective.,ambiguous "For example, the Fund may invest in the securities of an issuer that could face potentially reduced revenues or increased expenditures from physical climate risk (e.g., decreased production capacity due to supply chain perturbations, lower sales due to demand shocks or higher operating or capital costs) or transition risk (e.g., decreased demand for carbon-intensive products and services or increased production costs due to changing input prices).",ambiguous The Index Provider then calculates the size of each company’s exposure to each key issue based on the company’s business segment and geographic risk and analyzes the extent to which companies have developed robust strategies and programs to manage ESG risks and opportunities.,ambiguous Companies that breach the international norms will be excluded from the investment universe. 5. ,ambiguous "While the Fund intends for its ESG score at the aggregate portfolio level to exceed the Underlying Index, individual portfolio securities will not have to meet a prescribed standard.",ambiguous "The Sub-fund promotes investment in green, social, sustainable and/or sustainability-linked bonds used to finance environmental and social projects. ",ambiguous "The Index utilizes certain environmental, social, and governance (“ESG”) criteria to select from the securities included in the Bloomberg U.S. Aggregate Bond Index (the “Base Index”), which is designed to broadly capture the U.S. investment grade, taxable fixed income market.",ambiguous "Principal Investment Strategies The Fund seeks to track the investment results of the Index, which is comprised solely of listed equity securities issued by companies (and depositary receipts representing such securities) located in countries with emerging markets that meet certain environmental, social, and governance (“ESG”) criteria.",ambiguous The strategy integrates sustainability indicators on a continuous basis as part of the stock selection process.,ambiguous "A potential investment candidate for the Fund will generally exhibit sustainable practices, as determined by the sub-adviser, across the following ESG factors:  Environmental - impact on or from climate change, natural resource use and waste management practices;  Social - human capital management, product safety, supply chain management; and  Governance - corporate governance, business ethics and advocacy for governmental policy. ",ambiguous Companies that breach the international norms will be excluded from the investment universe.,ambiguous RobecoSAM SDG Credit Income is an actively managed fund that invests in companies that contribute to realizing the UN Sustainable Development Goals (SDGs).,ambiguous Green bonds may invest (part of) their use of proceeds in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy.,ambiguous "In addition, the index provider may be unsuccessful in creating an index composed of companies that exhibit positive ESG characteristics.",ambiguous "A Fund will vote proxies in a manner that is consistent with its ESG criteria, which may not always be consistent with maximizing short-term performance of the issuer.",ambiguous "High Social Impact Investments by the Fund may be direct investments in an issuer or investments in an intermediate entity that then makes High Social Impact Investments, such as Calvert Impact Capital, Inc. (“CIC”) (as discussed below).",ambiguous "Such excluded issuers are those with substantial involvement in the production of tobacco products, controversial weapons, engagement in cultivation, production or distribution of recreational cannabis.",ambiguous "To determine the Fund’s investable universe, BFA will first seek to screen out certain companies based on certain ESG criteria determined by BFA.",ambiguous "While the Fund does not currently intend to invest in certain higher emissions sectors such as oil & gas, utilities, transportation and steel manufacturing, these sectors would also be subject to specific alignment targets which the Fund would follow if it invested in these sectors in the future.",ambiguous The investment objective of Infrastructure Sustainable Opportunities is to seek to maximize total return while seeking to invest in issuers which are helping to address certain United Nations Sustainable Development Goals (“SDGs”) through their products and services.,ambiguous "As a result, the Fund may invest in companies that do not reflect the beliefs or values of a particular investor and may not be deemed to exhibit favorable ESG characteristics if different metrics or ESG rating agencies were used to evaluate them.",ambiguous The foregoing is implemented by essentially actively investing in companies that contribute to achieve Net Zero by 2050.,ambiguous The Sub-fund promotes having a substantially lower environmental footprint than the general market index. ,ambiguous The Sub-fund promotes investment in a portfolio that avoid significant harm to the Sustainable Development Goals (SDGs). ,ambiguous "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS Robeco's Good Governance policy applies to the Sub-fund and tests on a set of governance criteria that reflect widely recognized industry established norms and include topics as employee relations, management structure, tax compliance and remuneration.",ambiguous "As part of its investment approach, the fund also applies broad criteria (“exclusion criteria”) that seek to exclude issuers that are directly engaged in, and/or derive significant revenue from, certain industries or product lines.",ambiguous "The ESG Emerging Markets ETF currently invests a significant portion of its assets in companies located in Asia, although this may change over time.",ambiguous "The Sub-fund invests predominantly in green bonds, as well as in social and sustainable bonds.",ambiguous "The sustainable investments of the Sub-fund aim to support the sustainable use of natural resources and ecosystem services, as well as technologies, products and services that help to reduce Biodiversity threats or restore natural habitats.",ambiguous The sustainable investments do no significant harm to any environmental or social sustainable investment objective by applying Robeco's ESG bond eligibility frameworks in the selection process.,ambiguous "v Have significant and direct involvement in the manufacture of military weapons that violate international humanitarian law, including cluster bombs, landmines, biochemical weapons, nuclear weapons, blinding laser weapons, or incendiary weapons.",ambiguous The Sub-fund's portfolio complies with Robeco's Exclusion Policy (https://www.robeco.com/docm/docu-exclusion-policy.pdf) that is based on exclusion criteria that Robeco believes are detrimental to society and incompatible with sustainable investment strategies.,ambiguous "The Sub-fund promotes investment in a portfolio that avoid significant harm, and aim to improve their contribution, to the Sustainable Development Goals (SDGs). ",ambiguous Each company is evaluated relative to an appropriate peer group based on material ESG factors as determined by the investment adviser.,ambiguous "Sustainable Investing Exclusions For Fidelity® Water Sustainability Fund: As part of its investment approach, the fund also applies broad criteria (“exclusion criteria”) that seek to exclude issuers that are directly engaged in, and/or derive significant revenue from, certain industries or product lines.",ambiguous Any other sustainable investments must also not significantly harm any environmental or social objectives. ,ambiguous "Objective The Sub-fund aims to provide long term capital growth while at the same time aiming for a better sustainability profile compared to the Benchmark by promoting certain ESG (i.e. Environmental, Social and corporate Governance) characteristics and integrating sustainability risks in the investment process. ",ambiguous The Sub-fund promotes investment in countries that perform well on the RobecoSAM Country Sustainability Ranking.,ambiguous The index is sector-diversified and targets companies with high ESG ratings in each sector.,ambiguous "Principal Investment Strategies The Fund seeks to track the investment results of the Index, which is comprised of high dividend paying equity securities issued by companies listed on U.S. exchanges that meet certain environmental, social, and governance (“ESG”) criteria. ",ambiguous "The classifications are based on a variety of Environmental, Social, and Governance (ESG) issues provided by a third party that is specialized in the assessment of sustainability risks.",ambiguous "In addition, sustainable investments score positively on Robeco's SDG Framework or are assessed by either Robeco's Green Bond Framework or Social Bond Framework, and therefore do not cause significant harm. ",ambiguous "Companies in the parent universe are excluded from the Underlying Index for: � Failure to observe established norms with respect to environment, human rights, corruption and labor rights; � Involvement in controversial weapons (i.e., chemical, biological or nuclear weapons, depleted uranium, cluster munitions and anti-personnel mines); � An ISS ESG Corporate Rating of D-; � Deriving a specified percentage of revenues from one of the following sectors (“Sector Criteria”): fossil fuel, oil sands, hydraulic fracturing and shale oil/gas, artic or deepwater drilling, tobacco, military weapons, civilian firearms, alcohol, gambling, adult entertainment, and cannabis; or � Significant negative impact on environmental-focused United Nations Sustainable Development Goals (“SDGs”).",ambiguous "The Fund seeks to maintain certain ESG characteristics, climate risk exposure and climate opportunities relative to the MSCI Emerging Markets Index (the “Benchmark”).",ambiguous "CRM’s Index Committee may, in its discretion, remove an Index component before the next reconstitution if it has been determined that such Index component no longer meets the Calvert Principles or, if CRM’s Index Committee determines, based on information available to CRM, that such Index component has exposure to a product and/or environmental factor that is believed to present significant health or environmental risks.",ambiguous "It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of sustainable investments with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy.",ambiguous Companies otherwise eligible for inclusion in the Index that exceed certain carbon-based ownership and emissions thresholds are excluded from the Index. ,ambiguous "The sustainable investment objective is attained by mainly investing in companies that advance the following United Nations Sustainable Development Goals (SDGs): Affordable and clean energy goal (SDG 7), Decent work and economic growth (SDG 8), Industry, innovation and infrastructure (SDG 9), Sustainable cities and communities (SDG 11) and Climate action (SDG 13). ",ambiguous "The sustainable investment objective is attained by mainly investing in companies that advance the following United Nations Sustainable Development Goals (SDGs): Zero Hunger (SDG 2), Good health and well-being (SDG 3), Decent work and economic growth (SDG 8), Industry, innovation and infrastructure (SDG 9), Sustainable cities and communities (SDG 11) and Responsible consumption and production (SDG 12).",ambiguous "The sustainable investment objective is attained by mainly investing in companies that advance the following United Nations Sustainable Development Goals (SDGs): Good health and well-being (SDG 3), Clean water and sanitation (SDG 6), Industry, innovation and infrastructure (SDG 9), Sustainable cities and communities (SDG 11), Responsible consumption and production (SDG 12), and Life below water (SDG 14).",ambiguous "The Fund defines “green” investments to include securities of companies that develop or provide products or services that seek to provide environmental solutions and/or support efforts to reduce their own environmental footprint; bonds that support environmental projects; structured securities that are collateralized by assets supporting environmental themes; and securities that, in the opinion of the Fund’s investment adviser, have no more than a negligible direct environmental impact, which may include securities issued by the U.S. government or its agencies, and U.S. government-sponsored entities.",ambiguous "Environmental assessment categories can include how a company is addressing climate change, natural resource use, and waste management and emission management.",ambiguous "proprietary measures of fundamental factors (e.g., value and quality) and technical factors (e.g., momentum and correlation), as well as favorable environmental, social, and governance (“ESG”) characteristics.",ambiguous The sustainable investments of the Sub-fund aim to further the transformation and decarbonization of the global energy sector.,ambiguous The sustainable investments of the Sub-fund aim to help mitigate the resource scarcity challenge within industries while supporting economic growth.,ambiguous Examples of environmental criteria include a company’s waste management or water usage.,ambiguous The portfolio managers also analyze each company to determine its earnings potential and other factors indicating the sustainability of debt repayment.,ambiguous "Profile of the typical The Sub-fund is suitable for Investors who seek ESG considerations to be integrated as binding element in the investment process, while still seeking optimum returns.",ambiguous "From time to time, the Subadviser may also engage with management regarding ESG matters relevant to the company.",ambiguous "Social evaluation categories can include a company’s relations with employees and suppliers, product safety and sourcing practices.",ambiguous "Good governance practices include sound management structures, employee relations, remuneration of staff ad tax compliance. ",ambiguous "Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance. ",ambiguous "2) Asset risk — factors include micro fundamentals, physical features and revenue risk 3) Financial risk — factors include degree of financial leverage, interest coverage, maturity duration, fixed versus floating debt, pay-out ratio and free float 4) Management risk — qualitative assessment of executive management teams 5) ESG risk — assessment of environmental, social and governance issues based on BlackRock’s proprietary scoring model 6) Other risks — discrete single stock factors not captured by any of the above categories.",ambiguous "As a shareholder of the companies in its portfolio, each Fund typically has an opportunity each year to express its views on issues of corporate governance and sustainability at annual stockholder meetings.",ambiguous Shareholder Advocacy and Corporate Responsibility CRM uses strategic engagement and shareholder advocacy to encourage positive change in companies.,ambiguous "% It promotes E/S characteristics, but will not make any sustainable investments ",ambiguous The strategy integrates sustainability criteria as part of the stock picking process and through a theme specific sustainability assessment.,ambiguous "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS Profile of the typical Investor The Sub-fund is suitable for Investors who seek ESG considerations to be integrated as binding element in the investment process, while still seeking optimum returns.",ambiguous Robeco will use on water and waste footprint until data quality and coverage of the PAIs will improve.,ambiguous "In addition, there is a risk that the companies identified by the Fund’s ESG investment strategy do not operate as expected when addressing ESG issues.",ambiguous "■ Calculation Methodology Risk — An ETF’s underlying index relies on various sources of information to assess the criteria of issuers included in the underlying index (or its parent index), including information that may be based on assumptions and estimates.",ambiguous "Where relevant, minimum environmental or social safeguards are taken into account.",ambiguous "Given the lack of data on the EU Taxonomy for green bonds in the market, Robeco relies on internal analysis for the time being.",ambiguous "Environmental assessment categories can include a company’s impact on climate change, natural resource use, and waste management and emission management.",ambiguous "In addition to the Adviser’s proprietary and qualitative ESG analysis, the Adviser has access to some ESG-related data from third-party providers.",ambiguous "The Sub-fund strives for economic results and pursues environmental, social and governance objectives. ",ambiguous The weightings of the indexes in the LifePath ESG Index Retirement Fund Custom Benchmark are adjusted periodically to reflect the investment adviser’s evaluation and adjustment of LifePath ESG Index Retirement Fund’s asset allocation strategy.,ambiguous "While Fund management considers ESG characteristics as well as climate risk exposure and climate opportunities, only one or two of these categories may be considered with respect to a particular investment or sector, and categories may be weighted differently according to the type of investment being considered.",ambiguous "The portfolio managers are responsible for fundamental analysis and security selection, incorporating environmental, social and governance (“ESG”) information provided by ESG analysts at CRM.",ambiguous The Sub-fund does make sustainable investments with a social objective. ,ambiguous "ROBECO CAPITAL GROWTH FUNDS EU Taxonomy for green bonds in the market, Robeco relies on internal analysis for the time being. ",ambiguous "The sustainable investments aim to contribute to the Sustainable Development Goals, promoting good health and well-being and contribute to an efficient healthcare system. ",ambiguous "In addition, the Sub-fund intends to make sustainable investments as measured by being green bonds or sustainable bonds.",ambiguous "Sustainable International Equity Investment Process To determine the Fund’s investable universe, Fund management will first seek to screen out certain issuers based on ESG criteria determined by BlackRock Advisors, LLC (“BlackRock”).",ambiguous Each company is evaluated relative to an appropriate peer group based on material ESG factors as determined by CRM.,ambiguous "As the final step in the investment process, the sub-adviser determines which companies with potential for above-average future earnings growth fit its portfolio construction parameters in light of the companies’ valuations and relative ESG factor performance. ",ambiguous "For sustainable investments, the PAI indicators have been taken into account by ensuring that the investments do no significant harm to any environmental or social objective.",ambiguous "Principal Investment Strategies The Fund seeks to track the investment results of the Index, which is comprised solely of listed equity securities issued by companies (and depositary receipts representing such securities) located in countries with developed markets, excluding the United States and Canada, that meet certain environmental, social, and governance (“ESG”) criteria.",ambiguous "As of October 31, 2021, the Fund had significant exposure to the clean energy-related industry and the industrials sector.",ambiguous The Sub-fund promotes having a lower environmental footprint than that of the general market index. ,ambiguous "The Underlying Index generally aims to keep the broad characteristics of its parent index, the J.P. Morgan EMBI Global Diversified Sovereign Index, resulting in a broad emerging markets sovereign debt market exposure with ESG aspects.",ambiguous There is no reference benchmark designated for the purpose of attaining the environmental or social characteristics promoted by the Sub-fund. ,ambiguous Climate Global bonds is an actively managed fund that invests in bonds globally.,ambiguous "The Index identifies equity securities from the Base Index that satisfy certain ESG criteria, based on ESG performance data collected by MSCI ESG Research, Inc.",ambiguous Each issuer is evaluated relative to an appropriate peer group based on financially material ESG factors as determined by CRM.,ambiguous "Objective The Sub-fund has as its sustainable investment objective to further the transformation and decarbonization of the global energy sector through investments in clean energy production sources, energy efficient products and infrastructure as well as technologies supporting the electrification of the industrial, transportation and heating sectors.",ambiguous "Objective The Sub-fund aims to provide a well-diversified global government and corporate bonds portfolio and long term capital growth while at the same time promoting certain ESG (i.e. Environmental, Social and corporate Governance) characteristics and integrating sustainability risks in the investment process. ",ambiguous "How Each Fund Invests The investment objective of each Fund is to seek to maximize total return while seeking to maintain certain environmental, social and governance (“ESG”) characteristics, climate risk exposure and climate opportunities relative to the Fund’s benchmark.",ambiguous "While not a thematic fund in nature, the nature of the Adviser’s ESG research considers sustainable investing themes, such as any one or more of responsible water management, accessibility of essential services like healthcare, transportation, education, and climate mitigation.",ambiguous ■ Risk of ESG Investing — The Fund intends to invest a portion of its assets in Underlying Funds that seek to maximize exposure to companies with higher ESG ratings.,ambiguous "Next, the remaining eligible companies are evaluated for their level of involvement in, and strategic commitment to green building.",ambiguous "The Sub-fund promotes adherence to and conducting business activities in accordance with the United Nations Universal Declaration of Human Rights, the International Labor Organization's (ILO) labor standards, the United Nations Guiding Principles for Business and Human Rights (UNGPs), the United Nations Global Compact (UNGC) and the OECD Guidelines for Multinational Enterprises. ",ambiguous "In managing the Fund, the investment adviser seeks to gain exposure to countries with the following characteristics: political and economic conditions that suggest an improving governance and investment climate and/or adoption of policies or other actions that the investment adviser believes will result in increased corporate cash flow and/or reduced discount rates.",ambiguous For the different asset classes/ sub-strategies within the Sub-fund promotes having a lower environmental footprint than that of the applicable general market index. ,ambiguous "A company’s ESG Consensus Score reflects a consensus view, comprised of more than 500 sources, of the importance of certain ESG metrics determined to be key to that company’s industry.",ambiguous "The Index identifies fixed income securities from the Base Index that satisfy certain ESG criteria, based on ESG performance data collected by MSCI ESG Research.",ambiguous "Where relevant, minimum environmental or social safeguards apply to the underlying securities.",ambiguous ESG factors are considered systematically through leveraging a repeatable process that strives to minimize risk and capture opportunity.,ambiguous "Decisions to purchase or sell loans and other investments are determined by the relative value considerations of the portfolio managers that factor in economic and credit-related fundamentals, market supply and demand, market dislocations, situation-specific opportunities and application of the Fund’s ESG criteria.",ambiguous "Companies are evaluated based on a range of financially relevant sustainability criteria, covering environmental, social and governance dimensions.",ambiguous The Fund will also include sector specific alignment targets for select higher emission sectors which will include reducing carbon intensity in such sectors on a year-over-year basis.,ambiguous Lastly RIAM exercises its voting rights and engages with companies with the goal of improving sustainability practices and creating long term value.,ambiguous RobecoSAM QI Emerging SDG & Climate Beta Equities is an actively managed fund that invests globally in stocks of companies that advance the United Nations Sustainable Development Goals (SDGs) and contribute to maintaining the global temperature rise below 2◦,ambiguous "Robeco's Good Governance policy applies to the Sub-fund and tests on a set of governance criteria that reflect widely recognized industry established norms and include topics as employee relations, management structure, tax compliance and remuneration.",ambiguous "When constructing the Underlying Index from the S&P 500 Index, the Index Provider first applies various ESG screens to the S&P 500 Index to exclude companies that fail to meet certain minimum ESG requirements.",ambiguous "With regard to the application of the Fund’s ESG methodology to CLOs, the portfolio managers will utilize a proprietary approach in selecting CLOs for investment.",ambiguous The Sub-fund promotes having a lower carbon footprint than the general market index. ,ambiguous The Fund seeks to employ a top-down investment process based on macroeconomic and governance assessments at the country level.,ambiguous The Sub-fund promotes investment in a portfolio that contributes to the UN Sustainable Development Goals. ,ambiguous The portfolio managers’ ESG criteria will apply to derivatives and other instruments that have economic characteristics similar to senior secured floating rate loans made by banks and other lending institutions and senior secured floating rate debt instruments as reflected in the Fund’s 80% investment policy.,ambiguous The investment objective of each Fund is as follows: ■ LifePath ESG Index Retirement Fund seeks to provide for retirement outcomes based on quantitatively measured risk.,ambiguous The Sub-fund takes explicitly into account the contribution of a company to the United Nations Sustainable Development Goals (SDG).,ambiguous The investment adviser will pursue engagement opportunities across the portfolio with both company management and government officials to seek to advance ESG change from the bottom-up stock level and from the top-down at a country level.,ambiguous "This involves an evaluation of how the company integrates particular ESG risks and opportunities into its corporate strategy through, for example, improving governance practices, aligning management team incentives, and increasing transparency into its ESG practices.",ambiguous Country Sustainability Ranking The Country Sustainability Ranking is a proprietary research model to measure the ESG credentials of 150 countries twice a year. ,ambiguous "In addition, sustainable investments score positively on Robeco's SDG Framework, and therefore do not cause significant harm. ",ambiguous "Social, sustainable or sustainability-linked bonds may invest (part of) their use of proceeds in economic activities that contribute to a social objective. ",ambiguous The Underlying Index is then weighted in such a manner seeking to align its constituent companies’ greenhouse gas emissions with the long-term global warming target of the Paris Climate Agreement.,ambiguous Fund management adheres to a standard research and review process to assess any external information which may be utilized in the investment process.,ambiguous consider how well a company adheres to national and international laws and regulations as well as commonly accepted global norms related to ESG matters.,ambiguous A primary objective of the Sub-fund is to advance social impact by investing in gender equality leaders combined with sustainable business practices.,ambiguous "The Sub-fund is managed against a Benchmark that is consistent with the environmental, social and governance characteristics promoted by the Sub-fund.",ambiguous The Sub-fund promotes investment in a portfolio that contributes to the Sustainable Development Goals (SDGs). ,ambiguous "PRINCIPAL INVESTMENT STRATEGIES The fund, using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Underlying Index, which is comprised of large and mid-capitalization companies in emerging markets countries that meet certain environmental, social and governance (“ESG”) criteria and/or have committed to greenhouse gas emissions reduction targets.",ambiguous "When constructing the Underlying Index from the S&P MidCap 400 Index, the Index Provider first applies various ESG screens to the S&P MidCap 400 Index to exclude companies that fail to meet certain minimum ESG requirements.",ambiguous "CRM’s Index Committee may determine to exclude from the Index a company that operates its business in a manner consistent with the Calvert Principles, but has been determined by CRM’s Index Committee to have exposure to a product and/or environmental factor believed to present significant health or environmental risks.",ambiguous "Such screening criteria includes certain companies with exposure to controversial weapons, civilian firearms, tobacco and fossil fuels beyond specified thresholds, as determined by BFA.",ambiguous "The Fund seeks to maintain certain ESG characteristics, climate risk exposure and climate opportunities relative to the Benchmark.",ambiguous "Objective The aim of the Sub-fund is to provide long term capital growth while at the same time promoting certain ESG (i.e. Environmental, Social and corporate Governance) characteristics and integrating sustainability risks in the investment process. ",ambiguous "Objective The Sub-fund aims to provide long term capital growth, while at the same time promoting certain ESG (i.e. Environmental, Social and corporate Governance) characteristics and integrating sustainability risks in the investment process. ",ambiguous It may make allocation decisions based on such categories at particular times and will have a bias towards investments that BlackRock considers to have strong or improving ESG practices.,ambiguous "ESG-related risk exposure will not therefore preclude an investment, although the Subadviser does not generally expect to make investments where ESG factors make it difficult to accurately assess the value of a business.",ambiguous The companies selected for the Underlying Index as demonstrating ESG characteristics may not be the same companies selected by other index providers that use similar ESG screens.,ambiguous "In assessing issuers for which quantitative data is limited, subjective judgments may serve as the primary basis for CRM’s evaluation.",ambiguous Businesses should uphold the elimination of discrimination in respect of employment and occupation; (vii) businesses should support a precautionary approach to environmental challenges; (viii) businesses should undertake initiatives to promote greater environmental responsibility;,ambiguous A security will also be sold (in accordance with the investment adviser’s guidelines and at a time and in a manner that is determined to be in the best interests of shareholders) if the investment adviser determines that the issuer does not operate in a manner consistent with the Fund’s responsible investment criteria.,ambiguous "The Index identifies high dividend paying equity securities from the Base Index that satisfy certain ESG criteria, based on ESG performance data collected by MSCI ESG Research, Inc., an affiliate of the Index Provider.",ambiguous "ESG performance is measured on an industry-specific basis, with assessment categories varying by industry.",ambiguous Provider first applies various ESG screens to the S&P 500 Index to exclude companies that fail to meet certain minimum ESG requirements.,ambiguous "The Fund seeks to invest in emerging market companies whose products, services or industrial and/or business practices contribute towards addressing one or more global sustainability challenges in local or international markets, including (i) development, poverty and health, (ii) environment and climate change, or (iii) rights and governance.",ambiguous There is not a universally accepted ESG standard or standardized practices for generating ESG data.,generic "Currently, there is not a universally accepted ESG standard or standardized practices for generating ESG data and ratings.",generic "The Fund may sell a security when its fundamentals deteriorate, the target price is reached, other securities are identified to displace a current holding or it does not meet the Fund’s sustainability and corporate responsibility criteria.",generic "The Benchmark is a broad market weighted index that is not consistent with all the environmental, social and governance characteristics promoted by the Sub-fund Financial Instruments and Investment Restrictions With due consideration given to the investment restrictions and to the extent permitted by the applicable legislation, the Sub-fund may invest in equities, convertible bonds, securities issued and/or guaranteed by government, public or local authority with a minimum rating of investment grade, non-government bonds, units of UCITS and/or other UCIs and derivatives to achieve the investment goals of the Sub-fund. ",generic "In addition to these threshold responsibility standards, investments will be evaluated and may be excluded for extraordinary events and controversial issues that may adversely affect a company’s reputation, operations and/or “social license” to operate.",generic "ESG ratings employed by the Index are generally updated annually on a rolling basis, but may be reviewed more frequently in the Index Providers’ discretion.",generic "High Social Impact Investments are illiquid, and an Underlying Fund may be unable to dispose of them at current carrying values.",generic "High Social Impact Investments are illiquid, and the Fund may be unable to dispose of them at current carrying values.",generic The Sub-Adviser may engage with companies on issues relevant to the Fund’s responsible investment criteria.,generic iShares ESG Aware U.S. Aggregate Bond ETF may also acquire interests in mortgage pools through means other than such standardized contracts for future delivery.,generic The outcomes of the Adviser’s ESG research may result 2,generic Information with regards to the effects of the exclusions on the Sub-fund's universe can be found at https://www.robeco.com/docm/docu-exclusion-list.pdf. ,generic Information with regards to the effects of the exclusions on the Sub-fund's universe can be found at https://www.robeco.com/docm/docu-exclusion-list.pdf ,generic "Post-investment, the following principal adverse impacts on sustainability factors are taken into account: ",generic What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product? ,generic "The foregoing are commonly known as environmental, social and governance (“ESG”) factors.",generic How have the indicators for adverse impacts on sustainability factors been taken into account? ,generic What environmental and/or social characteristics are promoted by this financial product? ,generic "-investment, the following principal adverse impacts on sustainability factors are considered: ",generic What are the objectives of the sustainable investments that the financial product partially intends to make and how does the sustainable investment contribute to such objectives? ,generic Consideration of ESG factors is one element of the Subadviser’s investment process.,generic What are the binding elements of the investment strategy used to select the investments to attain each of the environmental or social characteristics promoted by this financial product? ,generic The Calvert Principles serve as a framework for considering ESG factors.,generic Does this financial product consider principal adverse impacts on sustainability factors? ,generic How does the use of derivatives attain the environmental or social characteristics promoted by the financial product? ,generic The foregoing factors in each ESG pillar may be updated periodically.,generic "In addition to this financially material Environmental, Social and Governance issues are integrated into the investment decision making process of the fund.",generic "Next to advancing the SDGs the Sub-fund also takes into account environmental, social and governance characteristics which are further explained in Appendix VIII. ",generic Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.,generic "The Sub-fund also takes into account environmental, social and governance characteristics which are further explained in Appendix VIII. ",generic What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product? ,generic Sustainability indicators measure how the sustainable objectives of this financial product are attained.,generic "As part of the research process, portfolio management may consider financially material environmental, social and governance (“ESG”) factors.",generic "Lastly, Robeco's SDG Framework is considered for the analysis of green, social or sustainable bonds.",generic What are the binding elements of the investment strategy used to select the investments to attain the sustainable investment objective? ,generic PROSPECTUS ROBECO CAPITAL GROWTH FUNDS How does the use of derivatives attain the environmental or social characteristics promoted by the financial product? ,generic How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product? ,generic the results of such ESG research generally will differ across ESG data providers.,generic More information on the Country Sustainability Ranking methodology can be found on www.robeco.com/si.,generic The index methodology can be found at https://www.bloomberg.com/professional/product/indices/bloomberg-esg-and-climateindices/. Where can I find more product specific information online? ,generic "As a result, the factors and criteria considered when generating ESG data and 2 WisdomTree Trust Prospectus",generic "An overall aggregated, or composite, ESG score is also calculated, with pillars weighted differently depending on the industry.",generic Underlying Index Information S&P 500 ESG Index The following section provides a more detailed explanation of the Underlying Index.,generic "In addition, Robeco Does this financial product have a sustainable investment objective? ",generic The criteria that apply to a Sub-fund depend on the sustainability profile of the Sub-fund.,generic "As a result, the factors and criteria considered when generating ESG data and the results of such ESG research generally differ across ESG data providers.",generic PROSPECTUS ROBECO CAPITAL GROWTH FUNDS What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product? ,generic Is a specific index designated as a reference benchmark to determine whether this financial product is aligned with the environmental and/or social characteristics that it promotes? ,generic "The SDGs are responsible consumption and production, climate action, life below water and life on land.",generic PROSPECTUS ROBECO CAPITAL GROWTH FUNDS Does this financial product consider principal adverse impacts on sustainability factors? ,generic The ESG screening and company selection methodologies employed by the Index Provider to create the Underlying Index are summarized below.,generic "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS Post-investment, the following principal adverse impacts on sustainability factors are taken into account: ",generic "A description of Green bonds, Social Bonds, Sustainable bonds and Sustainability-linked bonds is included in the Glossary of Defined Terms section of this Prospectus. ",generic "What investments are included under ""#2 Other"", what is their purpose and are there any minimum environmental or social safeguards?",generic "Additionally, investors may differ in their interpretations of what constitutes positive or negative ESG characteristics of a company.",generic Underlying Index Information S&P SmallCap 600 ESG Index The following section provides a more detailed explanation of the Underlying Index.,generic The above aspects followed by the index align with the environmental or social characteristics as promoted by the financial product. ,generic "investment, for corporates the following principal adverse impacts on sustainability factors are considered. ",generic "Therefore, a number of exclusion criteria are outlined in this policy.",generic "Details: Principal adverse impacts are the most significant negative impacts of investment decisions on sustainability factors relating to environmental, social and employee matters, respect for human rights, anti‐ corruption and anti‐ bribery matters.",generic The Fund has access to this research and considers relevant ESG issues.,generic More Information About the Fund This Prospectus contains important information about investing in BlackRock Future Climate and Sustainable Economy ETF (the “Fund”).,generic "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS - Indicators in related to social and employee matters (PAI 10-13, Table 1; PAI 5-8, Table 3) o ",generic "The Investment Adviser defnes ESG as a set of environmental, social and governance factors that are considered when evaluating a company to inform their view on the long term sustainability and durability of a company.",generic Robeco deems investing in Does this financial product have a sustainable investment objective? ,generic How LifePath ESG Index 2030 Fund performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future.,generic There are significant differences in interpretations of what it means for an issuer to have positive ESG factors.,generic How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis? ,generic Robeco's SDG Framework assesses the contribution of companies to the Sustainable Development Goals (SDGs).,generic Governance assessment categories can include governance practices and business ethics.,generic Not applicable How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis? ,generic The classification provides an indication of the probability and potential impact of an ESG event in the period of one year. ,generic BlackRock also uses macro-economic and country level research to inform its equity selection.,generic The Sub-fund intends to contribute to the following environmental objectives the EU Taxonomy Regulation:,generic "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS What investments are included under ""#2 Other"", what is their purpose and are there any minimum environmental or social safeguards? ",generic "The impact of this coronavirus, and the effects of other infectious illness outbreaks, epidemics or pandemics, may be short term or may continue for an extended period of time.",generic "These indicators are based on a fixed set of Environmental, Social, and",generic ESG analysis and liquidity management are systematically incorporated in the investment process. ,generic "For each industry, the Index Provider identifies key ESG issues that can lead to unexpected costs for companies in the mediumto long-term.",generic "Through its interaction, CRM seeks to make recommendations on material ESG issues, which may ultimately improve regulations, oversight, disclosure practices and corporate behavior.",generic "The value of your investment in LifePath ESG Index 2025 Fund, as well as the amount of return you receive on your investment, may fluctuate significantly from day to day and over time.",generic "PROSPECTUS – ROBECO CAPITAL GROWTH FUNDS labor standards, the United Nations Guiding Principles for Business and Human Rights (UNGPs), the United Nations Global Compact (UNGC) and the OECD Guidelines for Multinational Enterprises. ",generic "For each industry, the Index Provider identifies key ESG issues that can lead to unexpected costs for companies in the medium to long term.",generic The value of your investment in LifePath ESG Index 2030,generic "What investments are included under ""#2 Not sustainable"", what is their purpose and are there any minimum environmental or social safeguards? ",generic "Where relevant, minimum environmental or social safeguards are taken into account",generic "The ESG factor evaluation involves the identification of key performance indicators, which are given more or less relative weight compared to the broader range of potential assessment categories.",generic "A few examples are customer satisfaction, data protection and privacy, gender and diversity, employee engagement, community relations, human rights, and labor standards. ",generic "Class K Shares ANNUAL TOTAL RETURNS LifePath ESG Index 2055 Fund As of 12/31 0% 25% 5% 10% 15% 20% 2021 19.98% During the period shown in the bar chart, the highest return for a quarter was 7.25% (quarter ended June 30, 2021) and the lowest return for a quarter was –0.78% (quarter ended September 30, 2021).",generic "Class K Shares ANNUAL TOTAL RETURNS LifePath ESG Index 2065 Fund As of 12/31 0% 25% 5% 10% 15% 20% 2021 20.04% During the period shown in the bar chart, the highest return for a quarter was 7.25% (quarter ended June 30, 2021) and the lowest return for a quarter was –0.87% (quarter ended September 30, 2021).",generic "Class K Shares ANNUAL TOTAL RETURNS LifePath ESG Index 2040 Fund As of 12/31 0% 20% 5% 10% 15% 2021 17.02% During the period shown in the bar chart, the highest return for a quarter was 6.45% (quarter ended June 30, 2021) and the lowest return for a quarter was –0.61% (quarter ended September 30, 2021).",generic "Class K Shares ANNUAL TOTAL RETURNS LifePath ESG Index 2045 Fund As of 12/31 0% 20% 5% 10% 15% 2021 18.92% During the period shown in the bar chart, the highest return for a quarter was 6.97% (quarter ended June 30, 2021) and the lowest return for a quarter was –0.70% (quarter ended September 30, 2021).",generic "Class K Shares ANNUAL TOTAL RETURNS LifePath ESG Index 2060 Fund As of 12/31 0% 25% 5% 10% 15% 20% 2021 19.98% During the period shown in the bar chart, the highest return for a quarter was 7.26% (quarter ended June 30, 2021) and the lowest return for a quarter was –0.80% (quarter ended September 30, 2021).",generic "Class K Shares ANNUAL TOTAL RETURNS LifePath ESG Index 2050 Fund As of 12/31 0% 25% 5% 10% 15% 20% 2021 19.83% During the period shown in the bar chart, the highest return for a quarter was 7.17% (quarter ended June 30, 2021) and the lowest return for a quarter was –0.78% (quarter ended September 30, 2021).",generic "Class K Shares ANNUAL TOTAL RETURNS LifePath ESG Index 2030 Fund As of 12/31 0% 2% 4% 6% 14% 8% 10% 12% 2021 11.99% During the period shown in the bar chart, the highest return for a quarter was 5.16% (quarter ended June 30, 2021) and the lowest return for a quarter was –0.44% (quarter ended September 30, 2021).",generic "Class K Shares ANNUAL TOTAL RETURNS LifePath ESG Index 2035 Fund As of 12/31 0% 2% 4% 6% 16% 8% 10% 14% 12% 2021 14.74% During the period shown in the bar chart, the highest return for a quarter was 5.93% (quarter ended June 30, 2021) and the lowest return for a quarter was –0.59% (quarter ended September 30, 2021).",generic "Class K Shares ANNUAL TOTAL RETURNS LifePath ESG Index Retirement Fund As of 12/31 0% 2% 4% 6% 10% 8% 2021 7.64% During the period shown in the bar chart, the highest return for a quarter was 3.82% (quarter ended June 30, 2021) and the lowest return for a quarter was –0.17% (quarter ended September 30, 2021).",generic "Class K Shares ANNUAL TOTAL RETURNS LifePath ESG Index 2025 Fund As of 12/31 0% 2% 4% 6% 12% 8% 10% 2021 9.48% During the period shown in the bar chart, the highest return for a quarter was 4.38% (quarter ended June 30, 2021) and the lowest return for a quarter was –0.36% (quarter ended September 30, 2021).",generic "Investment decisions are based on BlackRock’s fundamental research focusing on bottom up (i.e., company-specific) analysis that seeks to identify and select equity and equity-related securities that can, as a portfolio, deliver the Fund’s investment objective.",generic """Quality"" stands for the focus on high quality equities, e.g. equity of companies with strong balance sheets and high profitability.",generic "Sustainable investment means an investment in an economic activity that contributes to an environmental or social objective, provided that the investment does not significantly harm any environmental or social objective and that the investee companies follow good governance practices.",generic "MSCI ESG Research is not affiliated with the Trust, BFA, State Street, the Distributor or any of their respective affiliates.",generic "FURTHER, NONE OF THE INDEX PARTIES HAS ANY OBLIGATION OR LIABILITY TO THE ISSUER OR OWNERS OF ISHARES ESG",generic S&P Dow Jones Indices LLC (the “Index Provider”) constructs the Underlying Index by applying a proprietary ESG methodology to the constituent companies of the S&P SmallCap 600 Index.,generic High Social Impact Investments include (i) debt obligations that offer a below-market interest rate and (ii) equity investments that may not generate a market rate of return.,generic "AGGREGATE BOND ETF IS NOT SPONSORED, ENDORSED, SOLD OR PROMOTED BY MSCI ESG RESEARCH, BLOOMBERG INDEX SERVICES LIMITED (“BLOOMBERG”), OR ANY OF THEIR AFFILIATES, ANY OF THEIR INFORMATION PROVIDERS OR ANY OTHER THIRD PARTY INVOLVED IN, OR RELATED TO, COMPILING, COMPUTING OR CREATING ANY BLOOMBERG MSCI ESG INDEX (EACH, AN “INDEX”) (COLLECTIVELY, THE “INDEX PARTIES”).",generic NONE OF THE INDEX PARTIES HAS ANY OBLIGATION TO TAKE THE NEEDS OF THE ISSUER OR OWNERS OF ISHARES ESG,generic "Per the index methodology, U.S. fixed-rate agency MBS exposure does not receive any MSCI ESG Research rating as the Index Provider believes that U.S. fixed-rate agency MBS exposure is neither additive nor decremental to the Underlying Index’s ESG rating profile.",generic "MSCI ESG RESEARCH, BLOOMBERG OR ITS AFFILIATES ARE THE LICENSORS OF CERTAIN TRADEMARKS, SERVICE MARKS AND TRADE NAMES AND OF THE INDEXES WHICH ARE DETERMINED, COMPOSED AND CALCULATED BY BLOOMBERG AND/OR MSCI ESG RESEARCH WITHOUT REGARD TO ISHARES ESG",generic "The S&P 500 ESG Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by DBX Advisors.",generic "MSCI ESG RESEARCH, BLOOMBERG, OR THEIR AFFILIATES ARE THE LICENSORS OF CERTAIN TRADEMARKS, SERVICE MARKS AND TRADE NAMES AND OF THE INDEXES WHICH ARE DETERMINED, COMPOSED AND CALCULATED BY BLOOMBERG AND/OR MSCI ESG RESEARCH WITHOUT REGARD TO THIS FUND OR THE ISSUER OR OWNERS OF THIS FUND OR ANY OTHER PERSON OR ENTITY.",generic "The Index is maintained by Bloomberg Index Services Limited (“Bloomberg”) pursuant to an agreement between Bloomberg and MSCI ESG Research LLC (“MSCI ESG Research” and, together with Bloomberg, the “Index Providers”).",generic "NONE OF THE INDEX PARTIES MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, TO THE ISSUER OR OWNERS OF ISHARES ESG AWARE U.S. AGGREGATE BOND ETF OR ANY OTHER PERSON OR ENTITY REGARDING THE ADVISABILITY OF INVESTING IN FUNDS GENERALLY OR IN ISHARES ESG",generic "S&P SmallCap 600 ESG Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by DBX Advisors.",generic "The goal of achieving a net zero carbon economy may be achieved through the decarbonization of economic activity, including, but not limited to, the elimination of highcarbon producing activities or the transition from high-carbon producing activities to activities that produce little to no carbon emissions.",generic Transitional activities are activities for which low-carbon alternatives are not yet available and among others have greenhouse gas emission levels corresponding to the best performance.,generic "S&P MidCap 400 ESG Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by DBX Advisors.",generic "“BLOOMBERG”, “MSCI ESG RESEARCH”, AND THE INDEX NAMES, ARE RESPECTIVE TRADE AND/OR SERVICE MARK(S) OF BLOOMBERG, MSCI ESG RESEARCH OR THEIR AFFILIATES AND HAVE BEEN LICENSED FOR USE FOR CERTAIN PURPOSES BY BFA OR ITS AFFILIATES.",generic Each Underlying Fund selects investments based on the criteria (including responsible investment criteria) described in its Prospectus.,generic "NONE OF THE INDEX PARTIES IS RESPONSIBLE FOR OR HAS PARTICIPATED IN THE DETERMINATION OF THE TIMING OF, PRICES AT, OR QUANTITIES OF ISHARES ESG AWARE U.S. AGGREGATE BOND ETF’S SHARES TO BE ISSUED OR IN THE DETERMINATION OR CALCULATION OF THE EQUATION BY OR THE CONSIDERATION INTO WHICH ISHARES ESG",generic "MSCI USA Extended ESG Focus Index (Reflects no deduction for fees, expenses or taxes) 26.98% 29.95% Investment Adviser The Fund’s investment manager is BlackRock Fund Advisors (previously defined as “BFA”).",generic "Aggregate ESG Focus Index (Reflects no deduction for fees, expenses or taxes) (1.52)% (0.76)% Investment Adviser The Fund’s investment manager is BlackRock Fund Advisors (previously defined as “BFA”).",generic "0% What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy? 0% Green bonds may invest (part of) their use of proceeds in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy, however the Sub-fund does not intend to set a minimum target.",generic The environmental objectives of the Sub-fund are attained by investing x% 100% 1.,generic "LifePath ESG Index Retirement Fund — Class K Shares Return Before Taxes 7.64% 10.07% Return After Taxes on Distributions 6.40% 8.92% Return After Taxes on Distributions and Sale of Fund Shares 4.57% 7.25% LifePath ESG Index Retirement Custom Benchmark (Reflects no deduction for fees, expenses or taxes) 7.48% 10.17% Bloomberg MSCI U.S.",generic "If BFA, BAL and their affiliates had not waived or reimbursed certain LifePath ESG Index 2065 Fund expenses during these periods, LifePath ESG Index 2065",generic What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy? 0%,generic "LifePath ESG Index 2055 Fund — Class K Shares Return Before Taxes 19.98% 25.44% Return After Taxes on Distributions 18.65% 24.13% Return After Taxes on Distributions and Sale of Fund Shares 11.83% 19.01% LifePath ESG Index 2055 Fund Custom Benchmark (Reflects no deduction for fees, expenses or taxes) 19.93% 25.75% MSCI USA Extended ESG Focus Index (Reflects no deduction for fees, expenses or taxes) 26.98% 29.95% Investment Adviser The Fund’s investment manager is BlackRock Fund Advisors (previously defined as “BFA”).",generic "LifePath ESG Index 2050 Fund — Class K Shares Return Before Taxes 19.83% 25.25% Return After Taxes on Distributions 18.59% 24.01% Return After Taxes on Distributions and Sale of Fund Shares 11.73% 18.89% LifePath ESG Index 2050 Fund Custom Benchmark (Reflects no deduction for fees, expenses or taxes) 19.72% 25.51% MSCI USA Extended ESG Focus Index (Reflects no deduction for fees, expenses or taxes) 26.98% 29.95% Investment Adviser The Fund’s investment manager is BlackRock Fund Advisors (previously defined as “BFA”).",generic "LifePath ESG Index 2065 Fund — Class K Shares Return Before Taxes 20.04% 25.49% Return After Taxes on Distributions 18.69% 24.17% Return After Taxes on Distributions and Sale of Fund Shares 11.87% 19.05% LifePath ESG Index 2065 Fund Custom Benchmark (Reflects no deduction for fees, expenses or taxes) 19.91% 25.73% MSCI USA Extended ESG Focus Index (Reflects no deduction for fees, expenses or taxes) 26.98% 29.95% Investment Adviser The Fund’s investment manager is BlackRock Fund Advisors (previously defined as “BFA”).",generic "LifePath ESG Index 2060 Fund — Class K Shares Return Before Taxes 19.98% 25.44% Return After Taxes on Distributions 18.78% 24.23% Return After Taxes on Distributions and Sale of Fund Shares 11.81% 19.05% LifePath ESG Index 2060 Fund Custom Benchmark (Reflects no deduction for fees, expenses or taxes) 19.92% 25.74% MSCI USA Extended ESG Focus Index (Reflects no deduction for fees, expenses or taxes) 26.98% 29.95% Investment Adviser The Fund’s investment manager is BlackRock Fund Advisors (previously defined as “BFA”).",generic "LifePath ESG Index 2030 Fund — Class K Shares Return Before Taxes 11.99% 15.76% Return After Taxes on Distributions 10.98% 14.80% Return After Taxes on Distributions and Sale of Fund Shares 7.09% 11.69% LifePath ESG Index 2030 Fund Custom Benchmark (Reflects no deduction for fees, expenses or taxes) 12.07% 16.14% MSCI USA Extended ESG Focus Index (Reflects no deduction for fees, expenses or taxes) 26.98% 29.95% Investment Adviser The Fund’s investment manager is BlackRock Fund Advisors (previously defined as “BFA”).",generic Inception Date 1 Year Since Inception Returns before tax 12/6/2018 13.37 14.18 After tax on distributions 13.04 13.59 After tax on distributions and sale of fund shares 8.40 11.00 Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index NTR 22.26 N/A1 MSCI ACWI ex USA ESG Leaders Index 13.29 14.22 MSCI ACWI ex USA Index 10.65 12.34 1,generic While the sum of socially sustainable investments and sustainable investments x% 100% 1.,generic "LifePath ESG Index 2045 Fund — Class K Shares Return Before Taxes 18.92% 24.14% Return After Taxes on Distributions 17.68% 22.91% Return After Taxes on Distributions and Sale of Fund Shares 11.19% 18.03% LifePath ESG Index 2045 Fund Custom Benchmark (Reflects no deduction for fees, expenses or taxes) 18.73% 24.31% MSCI USA Extended ESG Focus Index (Reflects no deduction for fees, expenses or taxes) 26.98% 29.95% Investment Adviser The Fund’s investment manager is BlackRock Fund Advisors (previously defined as “BFA”).",generic "LifePath ESG Index 2040 Fund — Class K Shares Return Before Taxes 17.02% 21.84% Return After Taxes on Distributions 15.66% 20.57% Return After Taxes on Distributions and Sale of Fund Shares 10.06% 16.25% LifePath ESG Index 2040 Fund Custom Benchmark (Reflects no deduction for fees, expenses or taxes) 16.87% 22.04% MSCI USA Extended ESG Focus Index (Reflects no deduction for fees, expenses or taxes) 26.98% 29.95% Investment Adviser The Fund’s investment manager is BlackRock Fund Advisors (previously defined as “BFA”).",generic "LifePath ESG Index 2035 Fund — Class K Shares Return Before Taxes 14.74% 19.08% Return After Taxes on Distributions 13.35% 17.76% Return After Taxes on Distributions and Sale of Fund Shares 8.77% 14.11% LifePath ESG Index 2035 Fund Custom Benchmark (Reflects no deduction for fees, expenses or taxes) 14.57% 19.22% MSCI USA Extended ESG Focus Index (Reflects no deduction for fees, expenses or taxes) 26.98% 29.95% Investment Adviser The Fund’s investment manager is BlackRock Fund Advisors (previously defined as “BFA”).",generic "If, however, a sovereign issuer in the parent index is not covered by either of those input ESG factor valuation providers, then the regional average of 10 Prospectus October 1, 2022 Fund Details",generic "#1Aligned with E/S characteristics 90% #1A Sustainable 2.5% Taxonomy-aligned Other environmental Social #1B Other E/S characteristics 87.5% #2 Other 0-10% Taxonomy-aligned activities are expressed as a share of: - turnover reflecting the share of revenue from green activities of investee companies - capital expenditure (CapEx) showing the green investments made by investee companies, e.g. for a transition to a green economy. - operational expenditure (OpEx) reflecting green operational activities of investee companies.",generic ESG Index 2050 Fund Class K: LEPKX ‰ BlackRock LifePath® ESG Index 2055 Fund Class K: LEVKX ‰,generic LifePath ESG Index 2025 Fund — Class K Shares Return Before Taxes 9.48% 12.64% Return After Taxes on Distributions 8.52% 11.71% Return After Taxes on Distributions and Sale of Fund Shares 5.61% 9.29% LifePath ESG Index 2025 Fund Custom Benchmark,generic QI Global SDG & Climate Beta Equities 0% 10% 0-5% 15% 10% 49% RobecoSAM,generic To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy? 0%.,generic Enabling activities directly enable other activities to make a substantial contribution to an environmental objective. ,generic PROSPECTUS ROBECO CAPITAL GROWTH FUNDS l) RobecoSAM Global Green Bonds Investment policy,generic sustainability scores under Montrusco Bolton’s scoring system; and exerting influence over company management through active engagement.,generic "v providing access to safe medicines and low-cost health care; v expanding digital access and mobile communications for underserved communities and populations; v mitigating and adapting to climate change and other environmental challenges; v enhancing access to clean water and sanitation infrastructure; v respecting human rights, labor rights, and Indigenous Peoples’ rights in local communities/workplaces; v fostering gender equity and diversity in workplaces and local communities; and v overcoming corruption through transparency and improved governance.",generic "This relates to elements such as board composition, audit committee structure, bribery and corruption, executive compensation, lobbying, political contributions, conflicts of interest, and whistleblowers schemes. ",generic PROSPECTUS ROBECO CAPITAL GROWTH FUNDS i) RobecoSAM US Green Bonds Investment policy,generic Each investment opportunity is assigned a weighted average score for each ESG pillar.,generic Governance examples include the consideration of a company’s organizational structure or the quality of their management.,generic "RIAM sees sustainability as a long-term driver for structural change in countries, companies and markets.",generic There are also significant differences in interpretations of what it means for a company to have positive ESG characteristics.,generic "This section provides information about the Underlying Funds, including brief descriptions of the Underlying Funds’ investment objectives and primary investment strategies, including ESG criteria applicable to the Underlying iShares ESG Funds.",generic "How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective? ",generic iShares ESG Aware U.S. Aggregate Bond ETF may enter into such contracts on a regular basis.,generic How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective? ,generic iShares ESG Aware Aggressive Allocation ETF (EAOA) iShares ESG Aware Conservative Allocation ETF (EAOK),generic The category #1 Aligned with E/S characteristics covers: - The sub-category #1A Sustainable covers sustainable investments with environmental or social objectives. -,generic "In addition, the Fund’s assessment of an issuer, based on the issuer’s level of involvement in a particular industry or the issuer’s ESG score, may differ from that of other funds or an investor.",generic "Actions by companies to address such global sustainability challenges include the following themes: v promoting economic development, income generation and poverty reduction; v improving quality of life in poor households and communities; v supporting agricultural innovation and food security; Calvert International Equity Funds Prospectus dated February 1, 2022 as revised April 29, 2022 35",generic each provider is used to calculate a regional average ESG factor valuation to be used as a proxy.,generic PROSPECTUS ROBECO CAPITAL GROWTH FUNDS How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective? ,generic Fund Overview Key Facts About BlackRock LifePath®ESG Index Retirement Fund Investment Objective,generic Fund Overview Key Facts About BlackRock LifePath®ESG Index 2060 Fund Investment Objective,generic Fund Overview Key Facts About BlackRock LifePath®ESG Index 2030 Fund Investment Objective,generic Fund Overview Key Facts About BlackRock LifePath®ESG Index 2065 Fund Investment Objective,generic "QI Emerging SDG & Climate Conservative Equities (the ""Sub-fund"") with effect from 7 February 2023.",generic "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS How do the sustainable investments that the financial product partially intends to make, not cause significant harm to any environmental or social sustainable investment objective? ",generic How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?,generic operational expenditure (OpEx) reflecting green operational activities of investee companies. ,generic Fund Overview Key Facts About BlackRock LifePath®ESG Index 2040 Fund Investment Objective,generic Taxonomy-alignment of investments including sovereign bonds Taxonomy-aligned Other investments x%,generic Fund Overview Key Facts About BlackRock LifePath®ESG Index 2055 Fund Investment Objective,generic PROSPECTUS ROBECO CAPITAL GROWTH FUNDS What is the policy to assess good governance practices of the investee companies? ,generic The following chart illustrates the glidepath — the target allocation among asset classes as the LifePath ESG Index Funds approach their target dates: Equity Funds (includes REITs),generic What is the policy to assess good governance practices of the investee companies? ,generic PROSPECTUS ROBECO CAPITAL GROWTH FUNDS How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?,generic Taxonomy-alignment of investments excluding sovereign bonds* Taxonomy-aligned Other investments Enabling activities directly enable other activities to make a substantial contribution to an environmental objective. ,generic The costs that a company could incur to reduce emissions can be either the costs of transitioning towards greener activities or direct costs of carbon taxes.,generic "2 Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF Summary Prospectus August 18, 2021",generic "8 Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF Summary Prospectus August 18, 2021",generic "2 Prospectus October 1, 2022 Xtrackers J.P. Morgan ESG Emerging Markets Sovereign ETF",generic "See the “Details About the Funds — Information About the Underlying Funds” section of the prospectus for a list of the Underlying Funds, their classification into equity, fixed income or money market funds and a brief description of their investment objectives and primary investment strategies, including ESG criteria applicable to the Underlying iShares ESG Funds.",generic "With respect to corporate debt securities, ESG performance is measured on an industry-specific basis, with assessment categories",generic There are also gains from technological opportunities in the transition towards a carbon-neutral economy.,generic The policy describes how Robeco determines if and when a company does not follow good governance practices and is therefore,generic CRM may also make public statements or issue publications to raise awareness of ESG issues and the opportunity for governments to address those issues.,generic The Fund Board or a committee thereof selected the International Equity Fund’s Special Equities investments and makes decisions related thereto.,generic "Foreign brokerage 4 Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF Summary Prospectus August 18, 2021",generic "Carbon reduction 3 Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF Summary Prospectus August 18, 2021",generic "Details About the Fund Included in this prospectus are sections that tell you about buying and selling shares, management information, shareholder features of BlackRock Infrastructure Sustainable Opportunities Fund (“Infrastructure Sustainable Opportunities” or the “Fund”), a series of BlackRock FundsSM (the “Trust”), and your rights as a shareholder.",generic "This table also shows how the Fund’s performance compares to the S&P 500 Index, a relevant broad-based securities index, and the MSCI USA Extended ESG Focus Index.",generic Taxonomy-alignment of investments including sovereign bonds* Taxonomy-aligned Other investments x%,generic "Engagement A long-term active dialogue between investors and companies, companies and other relevant stakeholders on environmental, social and governance factors.",generic Sustainable earnings growth potential is determined by fundamental analysis of a company’s financial trends and management; products and services; industry position and conditions; and other factors.,generic "The price of crude oil, natural gas, electricity produced from traditional hydro power and that generated from nuclear power and possibly other as yet undiscovered energy sources could potentially have a negative impact on the competitiveness of renewable energies.",generic "With these investments, The Sub-fund finances investments that contribute to environmental goals like:",generic The weightings of the indexes in the LifePath ESG Index 2030 Fund Custom Benchmark are adjusted periodically to reflect the investment adviser’s evaluation and adjustment of LifePath ESG Index 2030,generic � MSCI ESG Business Involvement Screening Research aims to enable institutional investors to manage ESG standards and restrictions reliably and efficiently.,generic QI Emerging SDG & Climate Conservative Equities MSCI Emerging Markets Index X,generic "For example, the SEC has proposed disclosure requirements applicable to funds that consider ESG factors.",generic Robeco QI Global Developed Sustainable Enhanced Index Equities MSCI World Index X,generic "Supplement to the SAI dated December 30, 2021: iShares Core MSCI Emerging Markets ETF (IEMG) iShares ESG Advanced MSCI EM ETF (EMXF)",generic "For each industry, the Index Provider identifies key ESG issues that can lead to substantial costs or opportunities for companies (e.g., climate change, resource scarcity, demographic shifts).",generic "Industries in the health care sector include pharmaceuticals, biotechnology, medical products and supplies, and health care services.",generic QI Emerging SDG & Climate Beta Equities MSCI Emerging Markets Index X,generic ESG Index 2030 Fund The following table lists the target allocation by years until retirement: Years Until Retirement Equity Funds (includes REITs),generic "Labeled bonds include, but are not limited to, “Green Bonds”, “Social Bonds”, “Sustainability Bonds,” or “Sustainability-Linked Bonds”.",generic The Adviser utilizes ESG analysis in connection with the Fund’s investments in fixed-income securities.,generic "As a result of these and other factors, the market prices of securities of companies involved in climate aware-related industries tend to be considerably more",generic The average annual total returns table compares the performance of LifePath ESG Index 2030 Fund to that of the MSCI USA Extended ESG Focus Index and the LifePath ESG Index 2030 Fund Custom Benchmark.,generic QI Global SDG & Climate MultiFactor Equities MSCI All Country World Index X,generic "When constructing the Underlying Index from the S&P 500 Index, the Index 1 Prospectus December 22, 2022 Xtrackers S&P 500 ESG ETF",generic "Companies in the media and entertainment industry group encompass a variety of services and products including television broadcasting, gaming products, social media, networking platforms, online classifieds, online review websites, and Internet search engines.",generic "Xtrackers MSCI USA ESG Leaders Equity ETF Summary Prospectus December 22, 2022",generic AWARE U.S. AGGREGATE BOND ETF OR THE ISSUER OR OWNERS OF ISHARES ESG,generic QI Global SDG & Climate Conservative Equities MSCI All Country World Index X,generic "The “circular economy” concept recognizes the importance of a sustainable economic system and aims to minimize waste by considering the full life-cycle of materials, and redesigning products and operations to encourage greater re-use and recycling.",generic THE INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI ESG RESEARCH AND BLOOMBERG (AND THEIR LICENSORS).,generic "Profile of the typical Investor The Sub-fund is suitable for Investors who want ESG considerations to be integrated as binding element in the investment process, but also to make a contribution to an environmental objective e.g. environmental footprint reduction, in addition to creating returns.",generic "The iShares ESG Aware MSCI EAFE ETF, iShares ESG Aware MSCI EM ETF, iShares ESG Aware MSCI USA ETF, iShares ESG Aware MSCI USA Small-Cap ETF, iShares MSCI Canada ETF, iShares MSCI EAFE Small-Cap ETF and iShares MSCI Emerging Markets Small-Cap ETF (collectively, the “iShares MSCI Funds”) are not sponsored, endorsed, sold, or promoted by MSCI, nor does MSCI make any representation regarding the advisability of investing in the iShares MSCI Funds.",generic And RIAM believes companies with sustainable business practices are more successful.,generic ESG characteristics: The methodology of the Benchmark takes into account ESG factors that may either be aligned with the ESG characteristics promoted by the Sub-fund(s) or with the sustainable investment objectives pursued by the Subfund(s).,generic The ESG Scores used in the S&P SmallCap 600 ESG Index are calculated by the Index Provider.,generic Product name: RobecoSAM Net Zero 2050 Climate Equities Legal entity identifier: 213800T59KJ3I92BUA65,generic ESG Index 2035 Fund Class K: LEJKX ‰ BlackRock LifePath® ESG Index 2040 Fund Class K: LEKKX ‰,generic To the extent that dividends and distributions have been paid by LifePath ESG Index 2030,generic QI Global SDG & Climate Multi-Factor Equities 0% 10% 0-5% 15% 5% 49% RobecoSAM,generic QI Emerging SDG & Climate Conservative Equities 0% 10% 0-5% 15% 5% 49% RobecoSAM,generic "Xtrackers S&P MidCap 400 ESG ETF Ticker: MIDE Stock Exchange: NYSE Arca, Inc.",generic "Xtrackers J.P. Morgan ESG Emerging Markets Sovereign ETF Ticker: ESEB Stock Exchange: Cboe BZX Exchange, Inc.",generic "Xtrackers S&P SmallCap 600 ESG ETF Ticker: SMLE Stock Exchange: NYSE Arca, Inc.",generic "Xtrackers S&P 500 ESG ETF Ticker: SNPE Stock Exchange: NYSE Arca, Inc.",generic "As of 10 Prospectus December 22, 2022 Xtrackers S&P MidCap 400 ESG ETF",generic "As of 18 Prospectus December 22, 2022 Xtrackers S&P SmallCap 600 ESG ETF",generic "ESG Index 2055 Fund (“LifePath ESG Index 2055 Fund”), BlackRock LifePath® ESG Index 2060 Fund (“LifePath ESG Index 2060 Fund”) and BlackRock LifePath® ESG Index 2065 Fund (“LifePath ESG Index 2065 Fund”) (each a “Fund” and together the “Funds”), each a series of BlackRock Funds III (the “Trust”), including how to buy and sell shares, management information, shareholder features and your rights as a shareholder.",generic "The health care sector includes, for example, biotechnology, pharmaceutical, health care facilities, and health care equipment and supply companies.",generic "In connection with the transition, on March 5, 2021 the UK Financial Conduct Authority (FCA), 9 Invesco Floating Rate ESG Fund",generic What is the minimum share of sustainable investments with a social objective? ,generic This ESG assessment is built into the multi-factor risk model described below.,generic This ESG assessment is built into the multi -factor risk model described below.,generic "The Subadviser views ESG issues not only as potential sources of risk, but also as opportunities for improvement.",generic Examples of social considerations include a company’s data privacy risks or supply chain management.,generic "ESG Index 2065 Fund Class K: LEWKX This Prospectus contains information you should know before investing, including information about risks.",generic "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS risks, and a classification of governance risk.",generic "Specifically, LifePath ESG Index Retirement Fund seeks to enable investors to maintain a steady withdrawal rate (about 3-5% per year) throughout their retirement while minimizing the risk of exhausting their investment.",generic "� MSCI ESG Ratings provides research, analysis and ratings of how well companies manage their ESG risks and opportunities.",generic "Further, equivalent ratio of weighted average ""Green Revenues"" to weighted average ""Brown Revenues"" is maintained by the index to factor in opportunities and risks of transition to a lower carbon economy. ",generic "Summary Prospectus | August 18, 2021 Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF Ticker: EMCR Stock Exchange: NYSE Arca, Inc. Before you invest, you may want to review the fund’s prospectus, which contains more information about the fund and its risks.",generic "Summary Prospectus | December 22, 2022 Xtrackers MSCI USA ESG Leaders Equity ETF Ticker: USSG Stock Exchange: NYSE Arca, Inc. Before you invest, you may want to review the fund’s prospectus, which contains more information about the fund and its risks.",generic "The social pillar (“S”) factors include workforce, community, product responsibility, and human rights.",generic "The governance pillar (“G”) factors include management, shareholders, board of directors, auditors, regulatory issuers, corporate social responsibility strategy, anti-corruption, and business ethics.",generic "Governance factors include, but are not limited to, executive compensation, structural complexity, board independence, board compensation and bondholder rights.",generic "The RobecoSAM Country Sustainability Ranking incorporates a wide range of ESG factors such as aging, corruption, social unrest, political risks and environmental risks. ",generic "The Fund’s governance evaluation considers matters such as stewardship of debt and capital, and board governance and transparency.",generic "Neither the Fund’s investment adviser, sub-adviser nor their affiliates has any discretion to select Index components or change the Index methodology. ",generic "None of the Fund’s investment adviser, sub-adviser, or their affiliates has any discretion to select Index components or change the Index methodology. ",generic Neither the sub-adviser nor its affiliates has any discretion to select Index components or change the Index methodology.,generic "Companies are analyzed by CRM’s ESG analysts utilizing The Calvert Principles for Responsible Investment, a framework for considering ESG factors.",generic What is the minimum share of sustainable investments with a social objective? 0%.,generic "The model applies ESG investment screens based on Sustainalytics’ data, which identifies publicly-listed companies involved in a range of product areas, including products that affect the environment, energy, health, and military and values-based products, and provides detail regarding the nature and level of each such company’s involvement in the relevant product area, to the initial universe of equity securities.",generic "The portfolio manager seeks to manage investment risk by maintaining broad issuer and industry diversification among the Fund’s holdings, and by utilizing fundamental analysis of risk/return characteristics in securities selection.",generic LifePath ESG Index Fund Custom Benchmark — a customized weighted index comprised of different indexes which are representative of the asset classes in which a Fund invests according to their weightings as of the most recent quarter end.,generic The net result of risks and opportunities reflects the total climate transition risk.,risk "Sustainability risks can be described using Environmental, Social and Governance (""ESG"") factors. ",risk "Such economic impacts may exacerbate other pre-existing political, social and economic risks locally or globally and cause general concern and uncertainty.",risk "Such economic impacts may exacerbate other pre-existing political, social and economic risks locally or globally.",risk The distinction is made between climate transition risk and climate physical risk.,risk "For companies, there is a total risk classification, a classification of environmental risks, a classification of social risks, and a classification of governance risk.",risk "The Chinese economy is subject to a considerable degree of economic, political and social instability: Political and Social Risk.",risk "• Social risks reflect how a company or government manages relationships with civilians, employees, suppliers, and the communities where they operate.",risk "For investments in government bonds, there is a total sustainability risk classification, a classification of environmental risk, a classification of social risk, and a classification of governance risk.",risk Climate risk refers to the potential impact on return due to climate change.,risk "Health crises caused by the recent coronavirus outbreak may exacerbate other preexisting political, social, financial, and economic risks in certain countries.",risk • Environmental risks reflect how a company or government performs as a steward of nature.,risk "Physical risk arises from the physical effects of climate change, acute or chronic.",risk "Sustainability risk around environmental issues includes, but is not limited to, climate risk, both physical and transition risk.",risk Climate physical risk represents the potential impact on returns due to extreme weather events.,risk A climate risk scenario analysis for the Sub-fund is performed as a quantitative assessment of the potential impact of climate transition scenarios.,risk Climate risk models are complex and surrounded by a high degree of uncertainty as result of assumptions and availability of data.,risk "Governance-related risks can include but are not limited to risks around board independence, ownership and control, and audit and tax management.",risk Risks related to social issues can include but are not limited to labor rights and community relations.,risk "There could be additional impacts on the value of the Fund as a result of sustainability risks, in particular those caused by environmental changes related to climate change, social issues (including relating to labor rights) and governance risk (including but not limited to risks around board independence, ownership and control, or audit and tax management).",risk "In addition, many Asian countries are subject to social and labor risks associated with demands for improved political, economic and social conditions.",risk "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS Environmental, Social, and Governance (ESG) issues provided by a third party that is specialized in the assessment of sustainability risks.",risk "The Index Provider obtains ESG factor valuations for each issuer in the parent index from RepRisk and Sustainalytics, which are investment research providers dedicated to responsible investing and ESG research.",risk "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS requires separate approval by a dedicated committee of SI specialists, compliance and risk management that oversees the bottom-up sustainability analysis. ",risk • Governance risk deals with a company or governments leadership.,risk "Assessment of the likely impact of sustainability risks on returns The financial position of investments in the portfolios managed by the Management Company may deteriorate due to material sustainability related risks, depending on the investment universe. ",risk "Impact of sustainability risk on returns The financial position of investments in the portfolios managed by the Management Company may deteriorate due to material sustainability related risks, depending on the investment universe.",risk The climate risk model assesses the potential costs for decarbonizing for companies.,risk "Internal social unrest or confrontations with other neighboring countries, including military conflicts in response to such events, may also disrupt economic development in China and result in a greater risk of currency fluctuations, currency non-convertibility, interest rate fluctuations and higher rates of inflation.",risk "■ Energy Sector Risk — The market value of securities in the energy sector may decline for many reasons, including, among others, changes in energy prices, energy supply and demand, government regulations and energy conservation efforts.",risk Furthermore the financial position of investments in the portfolio's managed by the Management Company may deteriorate due to increasing government regulation or a shift in consumer behavior that in turn may impact the market value of these investments referred to as climate transition risk. ,risk "There is a greater risk in China than in many other countries of currency fluctuations, currency non-convertibility, interest rate fluctuations and higher rates of inflation as a result of internal social unrest or conflicts with other countries.",risk "The financial position of the securities owned by a Sub-fund in the portfolios managed by the Management Company may deteriorate due to geological or environmental risks these companies are exposed to, which in turn may impact the market value of these investments referred to a as physical climate risk.",risk "Tracking error risk may be heightened during times of increased market 5 Prospectus December 22, 2022 Xtrackers S&P 500 ESG ETF",risk "These risks include, among others: fluctuations in the value of the underlying properties; defaults by borrowers or tenants; market saturation; changes in general and local economic conditions; decreases in market rates for rents; changes in the availability, cost and terms of mortgage funds; increased competition, property taxes, capital expenditures, or operating expenses; and other occurrences, including the impact of changes in environmental laws that may affect the real estate industry.",risk "In addition, there is a risk that the companies identified by the Fund’s ESG investment strategy do not operate as expected when",risk "Investments in these countries may also be subject to heightened risk of expropriation, confiscatory taxation, piracy of intellectual property data, and political instability, including armed conflict and social unrest.",risk "In addition, these companies are at risk for environmental and product liability damage claims.",risk "Sustainability risk is an inclusive term to designate investment risk (probability or uncertainty of occurrence of material losses relative to the expected return of an investment) that relates to environmental, social or governance issues.",risk "In addition, these companies are at risk for environmental damage claims.",risk "The clean energy industry is relatively nascent in comparison to more established and mature sectors, and should therefore be regarded as having greater investment risk.",risk "Agricultural production companies also may be at risk for environmental damage claims, worker safety liability and other types of litigation.",risk "In cases where risks are presented, S&P Global ESG Research will release a Media and Stakeholder Analysis (MSA), which includes a range of issues such as economic crime and corruption, fraud, illegal commercial practices, human rights issues, labor disputes, workplace safety, catastrophic accidents, and environmental disasters.",risk "The risks inherent in the utilities sector include a variety of factors that may adversely affect the business or operations of utilities companies, including high interest costs associated with capital construction and improvement programs; difficulty in raising adequate capital on reasonable terms in periods of high inflation and unsettled capital markets; governmental regulation of rates that the issuer can charge to customers; costs associated with compliance with, and adjusting to changes to, environmental and other regulations; effects of economic slowdowns and surplus capacity; and increased competition from other providers of utility services.",risk "In these circumstances, the ESG team may also engage the issuer or relevant stakeholders of the issuer, when practicable and material to the investment decision, to gain a deeper understanding of a risk, promote improved risk management, and/or provide insight on potential opportunities. ",risk "Top-down considerations are also incorporated into the portfolio construction process, and the investment adviser seeks to achieve exposure across regions, countries and/or sectors and integrate forecasted fundamental inflections (i.e. changes in the fundamental outlook and trajectory of particular companies, sectors, countries and regions), macroeconomic considerations, geopolitical and country risk assessments, among other factors.",risk "LifePath ESG Index Retirement Fund is designed to help balance three risk factors that investors face during retirement: market risk (potential declines in market values), longevity risk (living longer than expected) and inflation risk (loss of purchasing power).",risk Sensitivity and scenario analyses are conducted on a frequent basis to assess any material impact climate change risk may have on the portfolio of a Sub-fund. ,risk "Foreign Investment Risk—investments in foreign issuers involve additional risks (such as risks arising from less frequent trading, changes in political or social conditions, and less publicly available information about non-U.S. issuers) that differ from those associated with investments in U.S. issuers and may result in greater price volatility.",risk "Debt and equity investments in commodity-related issuers create exposure to commodity risks, which may include unpredictable changes in value, supply and demand, and government regulation.",risk "Health crises caused by outbreaks of disease, such as the coronavirus outbreak, may exacerbate other pre-existing political, social and economic risks and disrupt normal market conditions and operations.",risk "Such global events may negatively impact broad segments of businesses and populations, cause a significant negative impact on the performance of the Fund’s investments, adversely affect and increase the volatility of the Fund’s share price, exacerbate pre-existing political, social and economic risks to the Fund.",risk "Real estate investments are subject to risks associated with owning real estate, including declines in real estate values, increases in property taxes, fluctuations in interest rates, limited availability of mortgage financing, decreases in revenues from underlying real estate assets, declines in occupancy rates, changes in government regulations affecting zoning, land use, and rents, environmental liabilities, and risks related to the management skill and creditworthiness of the issuer.",risk "Finally, the regulatory landscape with respect to ESG investing in the U.S. is still under development and, as a result, future regulations and/or rules adopted by applicable regulators could require the Fund to change or adjust its investment process with respect to ESG investing. ",risk "The water industry can be significantly affected by the availability of water, the level of rainfall and the occurrence of other climatic and environmental events, changes in water consumption and water conservation.",risk "The value of investments held by the Fund may increase or decrease in response to economic, political, financial, public health crises (such as epidemics or pandemics) or other disruptive events (whether real, expected or perceived) in the U.S. and global markets.",risk "To the extent that the fund invests significantly in the health care sector, the fund will be sensitive to changes in, and the fund’s performance may depend to a greater extent on, the overall condition of the health care sector.",risk "The risks of investing in the clean energy industry include the risks of focusing investments in the water, energy and environmental sectors, and adverse developments in these sectors may significantly affect the value of the Shares.",risk "Furthermore, because the Fund may focus its investments in the water industry, economic downturns and global and domestic events affecting the water industry will have a greater impact on the Fund than would be the case if the Fund’s investments were more diversified.",risk "In addition sustainable investment objectives of a Sub-fund, i.e. carbon reduction, may reduce the impact on the market value of the portfolio and is less impacted by any climate transition or physical risks in general and/or market risk stemming from issuers with insufficient environmental management.",risk "In addition, such companies face risks specific to sustainable or “green” building, including: building costs may be more expensive for green buildings as compared to conventional buildings; green construction materials may not be readily available; the costs associated with obtaining third-party certification; and the failure to continue to meet certification standards.",risk China’s growing income inequality and worsening environmental conditions also are factors that may affect the Chinese economy.,risk "For example, frequent and severe climaterelated events can impact products and services and supply chains.",risk "Inflation, the political climate, monetary policy and economic activity are among the variables used to determine the overall duration target for the Fund, and the Fund’s maturity structure will be adjusted to reflect the Subadviser’s forecast for interest rates.",risk "The pandemic has affected and may continue to affect certain countries, industries, economic sectors, companies and investment products more than others, may exacerbate existing economic, political, or social tensions and may increase the probability of an economic recession or depression.",risk The governments of EU countries may be subject to change and such countries may experience social and political unrest.,risk PROSPECTUS ROBECO CAPITAL GROWTH FUNDS Climate change leads to extreme weather events that may have a negative economic impact on investments.,risk "China’s growing income inequality, rapidly aging population and worsening environmental conditions also are factors that may affect the Chinese economy.",risk "For example, frequent and severe climate-related events can impact products and services and supply chains.",risk "Other financial, economic and other global market and social developments or disruptions may result in similar adverse circumstances, and it is difficult to predict when similar events affecting the U.S. or global financial markets may occur, the effects that such events may have and the duration of those effects (which may last for extended periods).",risk "Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues, recessions, or other events could have a significant impact on the Fund and its investments and could result in increased premiums or discounts to the Fund’s NAV.",risk The full economic impact and ongoing effects of COVID-19 (or other future epidemics or pandemics) at the macro-level and on individual businesses are unpredictable and may result in significant and prolonged effects on the Fund’s performance.,risk "The fund is particularly exposed to such developments as changes in global and regional climates, environmental protection regulatory actions, changes in government standards and subsidy levels, changes in taxation and other domestic and international political, regulatory, and economic developments.",risk "health crises and related geopolitical events have led, and in the future may lead, to disruptions in the US and world economies and markets, which may increase financial market volatility and have significant adverse direct or indirect effects on the fund and its investments.",risk "In addition, geopolitical and other events, including war, terrorism, economic uncertainty, trade disputes, public health crises and related geopolitical events have led, and in the future may lead, to disruptions in the US and world economies and markets, which may increase financial market volatility and have significant adverse direct or indirect effects on the fund and its investments.",risk "The water sustainability theme can be significantly affected by demographic, irrigation and industrial usage trends, viability of infrastructure projects, conservation practices, pollution, waste, and environmental factors, including weather, droughts, flooding, as well as the performance of the overall economy, interest rates, consumer",risk "The countries in which the Fund invests may be subject to considerable degrees of economic, political and social instability.",risk "Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues like pandemics or epidemics, recessions, or other events could have a significant impact on the Fund and its investments and could result in increased premiums or discounts to the Fund’s NAV.",risk "This sector can be significantly affected by, among other things, the supply and demand for specific products and services, the pace of technological development, and government regulation.",risk "Different accounting, corporate governance, regulatory, and market systems may cause foreign investments to be more volatile.",risk "The health care sector may be affected by government regulations and government health care programs, increases or decreases in the cost of medical products and services and product liability claims, among other factors.",risk "China may be subject to considerable degrees of economic, political and social instability.",risk "Emerging markets can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile.",risk "Disparities of wealth and the pace of economic liberalization in China may lead to social turmoil, violence and labor unrest.",risk Events with a substantial impact on one European country typically impact its neighboring countries as well.,risk "The Chinese economy is also susceptible to rising rates of inflation, economic recession, market inefficiency, volatility, and pricing anomalies that may be connected to governmental influence, a lack of publicly-available information and/or political and social instability.",risk "Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issues like pandemics or epidemics, recessions, or other events could have a significant impact on the Fund and its investments.",risk "In addition, natural or environmental disasters, widespread disease or other public health issues, war, military conflict, acts of terrorism or other events may have a significant impact on the value of the Fund’s investments, as well as the financial markets and global economy generally.",risk "Disparities of wealth, the pace and success of democratization and ethnic, religious and racial disaffection, among other factors, may exacerbate social unrest, violence and labor unrest in some of the countries in which the Fund may invest.",risk Other epidemics and pandemics that may arise in the future may have similar effects.,risk "For example, a global pandemic or other widespread health crisis could cause substantial market volatility and exchange trading suspensions and closures.",risk "affect certain countries, industries, economic sectors, companies and investment products more than others, may exacerbate existing economic, political, or social tensions and may increase the probability of an economic recession or depression.",risk "The country may be subject to other public health threats, infectious illnesses, diseases or similar issues in the future.",risk "Because society’s focus on the climate is relatively new, the emphasis and direction of governmental policies is subject to significant change, and rapid technological change could render even new approaches and products obsolete. ",risk Failing to mitigate against the consequences of climate change could potentially have a negative impact on the underlying assets of a Sub-fund.,risk "Adverse political, economic or social developments could undermine the value of the fund’s investments or prevent the fund from realizing the full value of its investments.",risk "The extent and duration of Russia’s military actions, resulting sanctions and consequent future market disruptions are impossible to predict, but could be significant and may negatively affect global supply chains, inflation, oil and gas supply, and global growth.",risk Climate change leads to extreme weather events that may have a negative economic impact on investments.,risk "In addition, companies in the industrials sector may be adversely affected by environmental damages, product liability claims and exchange rates.",risk "Certain economies in the region may be adversely affected by increased competition, high inflation rates, undeveloped financial services sectors, currency fluctuations or restrictions, political and social instability and increased 2 ",risk "The outbreak of COVID-19 and efforts to contain its spread have resulted in closing borders, enhanced health screenings, changes to healthcare service preparation and delivery, quarantines, cancellations, disruptions to supply chains and customer activity, as well as general concern and uncertainty.",risk Companies engaged in the consumer discretionary sector are subject to fluctuations in supply and demand.,risk "Events such as war, terrorism, natural and environmental disasters and the spread of infectious illnesses or other public health emergencies may have a severe negative impact on the global economy, could cause financial markets to experience extreme volatility and losses, and could result in the disruption of trading and the reduction of liquidity in many instruments.",risk "The information technology sector can be significantly affected by changes in, among other things, the supply and demand for specific products and services, the pace of technological development and product obsolescence, market competition, government regulation, and patent and intellectual property rights. ",risk "Chinese markets generally continue to experience inefficiency, volatility and pricing anomalies that may be connected to governmental influence, lack of publicly available information, and political and social instability.",risk "Additionally, natural or environmental disasters, widespread disease or other public health issues, war, acts of terrorism or other events could result in increased premiums or discounts to the Fund’s net asset value (“NAV”).",risk "Obsolescence of existing technology, short product cycles, falling prices and profits, the supply of, and demand for, oil and gas, the price of oil and gas, competition from new market entrants and general economic conditions can significantly affect the clean energy industry.",risk "spread have resulted in travel restrictions, disruptions of healthcare systems, business operations (including business closures) and supply chains, layoffs, lower consumer demand and employee availability, and defaults and credit downgrades, among other significant economic impacts that have disrupted global economic activity across many industries.",risk Unanticipated political or social developments may result in sudden and significant investment losses.,risk "Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not produce the desired results, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences.",risk "Further, the clean energy industry can be significantly affected by intense competition and legislation.",risk "Additionally, natural or environmental disasters, widespread disease or other public health issues, war, acts of terrorism or other events could result in increased premiums or discounts to the Fund’s NAV.",risk "This coronavirus has resulted in closing borders, enhanced health screenings, partial population vaccination, healthcare service preparation and delivery, quarantines, cancellations, disruptions to supply chains and customer activity, government sponsored fiscal stimulus programs, various moratoria on the applicability of certain laws and regulations, as well as general concern and uncertainty.",risk "The Chinese markets generally continue to experience inefficiency, volatility and pricing anomalies resulting from governmental influence, a lack of publicly available information and/or political and social instability.",risk "Utilities companies may also be adversely affected by increased costs associated with the reduced availability of certain types of fuel, occasionally reduced availability and high costs of natural gas for resale, and the effects of energy conservation policies.",risk "Actual and threatened responses to such activity and strained international relations, including purchasing restrictions, sanctions, tariffs or cyberattacks on the Chinese government or Chinese companies, may impact China’s economy and Chinese issuers of securities in which the Fund invests.",risk "These events could reduce consumer demand or economic output, result in market closures, travel restrictions or quarantines, or widespread unemployment, and generally have a severe negative impact on the global economy.",risk "The industry also can be significantly affected by the supply of, and demand for, specific products or services, the supply of, and demand for, oil and gas, the price of oil and gas, production spending, government regulation, world events and economic conditions.",risk "The market value of energy-related commodities may decline for many reasons, including, among other things: changes in the levels and volatility of global energy prices, energy supply and demand, and capital expenditures on exploration and production of energy sources; exchange rates, interest rates, economic conditions, and tax treatment; terrorism, natural disasters and other catastrophes; and energy conservation efforts, increased competition and technological advances.",risk "Russia’s military incursions and the resulting sanctions could adversely affect global energy, commodities and financial markets and thus could affect the value of the 3 Xtrackers MSCI USA ESG Leaders Equity ETF Summary Prospectus December 22, 2022",risk "Any spread of an infectious illness, public health threat or similar issue could reduce consumer demand or economic output, result in market closures, travel restrictions or quarantines, and generally have a significant 6",risk "Since 1997, there have been tensions between the Chinese government and many people in Hong Kong who perceive China as tightening of control over Hong Kong’s semi-autonomous liberal political, economic, legal, and social framework.",risk "The value of equity securities and related instruments may decline in response to adverse changes in the economy or the economic outlook; deterioration in investor sentiment; interest rate, currency, and commodity price fluctuations; adverse geopolitical, social or environmental developments; issuer and sector-specific considerations; unexpected trading activity among retail investors; or other factors.",risk "Additionally, unexpected events and their aftermaths, including broad financial dislocations (such as the “great recession” of 2008-09), war, armed conflict, terrorism, the imposition of economic sanctions, natural and environmental disasters and the spread of infectious illnesses or other public health emergencies (such as the COVID-19 coronavirus pandemic first detected in December of 2019), may adversely affect the global economy and the markets and issuers in which the Fund invests.",risk "real estate industry may also be subject to liabilities under environmental and hazardous waste laws, among others.",risk "The occurrence of global events similar to those in recent years, such as terrorist attacks around the world, natural disasters, health emergencies, social and political discord, war or debt crises and downgrades, among others, may result in market volatility and may have long term effects on both the U.S. and global financial markets.",risk "Regulatory changes or interpretations regarding the definitions and/or use of ESG characteristics could have a material adverse effect on a Fund’s ability to invest in accordance with its investment policies and/or achieve its investment objective, as well as the ability of certain classes of investors to invest in funds, such as the Funds, whose strategies include ESG factors. ",risk "The United States has experienced security concerns, war, threats of war, aggression and/or conflict, terrorism, economic uncertainty, sanctions or the threat of sanctions, natural and environmental disasters, the spread of infectious illness, widespread disease or other public health issues and/or systemic market dislocations (including due to events outside of the United States) that have led, and in the future may lead, to increased short-term market volatility and may have adverse long-term effects on the U.S. and world economies and markets generally, each of which may negatively impact the Fund’s investments.",risk "The clean energy industry can be significantly affected by fluctuations in energy prices and supply and demand of alternative energy fuels, energy conservation, the success of exploration projects and tax and other government regulations.",risk "The current political climate has intensified concerns about the ongoing trade war between China and the United States, as each country has imposed tariffs on the other country’s products.",risk "Energy companies can be significantly affected by the supply of, and demand for, specific products (e.g., oil and natural gas) and services, exploration and production spending, government subsidization, 5 NM0822U-2331758-24/79",risk "Many companies in the agricultural production industry are subject to government subsidy policies and environmental, health and safety laws and regulations.",risk "This outbreak has resulted in travel restrictions, closed international borders, enhanced health screenings at ports of entry and elsewhere, disruption of and delays in healthcare service preparation and delivery, prolonged quarantines, cancellations, supply chain disruptions, lower consumer demand, temporary and permanent closures of stores, restaurants and other commercial establishments, layoffs, defaults and other significant economic impacts, as well as general concern and uncertainty.",risk "Many of the developing market Asia-Pacific countries may be subject to a greater degree of economic, political and social instability than is the case in the United States and Western European countries.",risk "The value of investments held by the Fund may increase or decrease in response to social, economic, political, financial, public health crises or other disruptive events (whether real, expected or perceived) in the U.S. and global markets and include events such as war, natural disasters, epidemics and pandemics, terrorism, conflicts and social unrest.",risk "Local flood protection measures are considered, and the same depth damage functions are used to estimate asset damage and business interruption from inundation River low flow Water scarcity on the power production sector, specifically on thermal and hydro power plants, which rely on large amounts of water. ",risk "Securities of companies in the clean energy industry are subject to swift price and supply fluctuations caused by events relating to international politics, the success of project development and tax and other governmental regulatory policies.",risk "Energy companies can be significantly affected by the supply of, and demand for, specific products (e.g., oil and natural gas) and services, exploration and production spending, government subsidization, world events and general economic conditions.",risk "Health care companies may be affected by government regulations and government health care programs, increases or decreases in the cost of medical products and services, changes in patent and intellectual property rights and product liability claims, among other factors. ",risk "In addition, seasonal weather conditions, fluctuations in the supply of, and demand for, clean energy products, changes in energy prices, and international political events may cause fluctuations in the performance of clean energy companies and the prices of their securities.",risk Type Climate Hazards Description Acute Tropical cyclone Tropical cyclones typically cause severe wind and flood damage. ,risk "negatively affect supply and demand in a particular industry, competition for resources; adverse labor relations, political or world events, obsolescence of technologies, and increased competition or new product introductions that may affect the profitability or viability of companies in an industry.",risk "The current political climate has intensified concerns about a potential trade war between China and the United States, as each country has recently imposed tariffs on the other country’s products.",risk "Certain Asian countries are vulnerable to a decrease in the price of or global demand for certain commodities, such as oil, natural gas, and coal.",risk "Regulatory changes or interpretations regarding the definitions and/or use of ESG criteria could have a material adverse effect on the fund’s ability to invest in accordance with its investment policies and/or achieve its investment objective, as well as the ability of certain classes of investors to invest in funds following an ESG strategy such as the fund.",risk "Russia’s military invasion of Ukraine, the resulting responses by the United States and other countries, and the potential for wider conflict has increased volatility and uncertainty in the financial markets, specifically on companies in the oil and gas sector, finance and resource extraction.",risk "Chronic refer to longer-term shifts in climate patterns (e.g., sustained higher temperatures) that may cause sea level rise or chronic heat waves.",risk "Health care companies are subject to competitive forces that may result in price discounting, and may be thinly capitalized and susceptible to product obsolescence.",risk "Companies in the real estate industry may also be subject to liabilities under environmental and hazardous waste laws, among others.",risk "Renewable and alternative energy companies can be significantly affected by the following factors: obsolescence of existing technology, short product cycles, legislation resulting in more strict government regulations and enforcement policies, fluctuations in energy prices and supply and demand of alternative energy fuels, energy conservation, the success of exploration projects, the supply of and demand for oil and gas, world events and economic conditions.",risk "In addition, shares of clean energy companies have been significantly more volatile than shares of companies operating in other more established industries and such securities may be subject to sharp price declines due to factors such as events relating to international politics, the success of project development and tax and other governmental regulatory policies.",risk "Although China is obligated to maintain the current capitalist economic and social system of Hong Kong through June 30, 2047, the continuation of economic and social freedoms enjoyed in Hong Kong is dependent on the government of China.",risk "Adverse weather conditions (such as floods or droughts), natural disasters and other factors, such as disease outbreaks, also may adversely affect companies operating in this industry.",risk "Companies in the utilities sector are subject to a variety of factors that may adversely affect their business or operations, including high interest costs associated with capital construction and improvement programs; difficulty in raising adequate capital in periods of high inflation and unsettled capital markets; governmental regulation of rates the issuer can charge to customers; costs associated with compliance with environmental and other regulations; effects of economic slowdowns and surplus capacity; increased competition; and potential losses resulting from a developing deregulatory environment.",risk "Any spread of an infectious illness, public health threat or similar issue could reduce consumer demand or economic output, result in market closures, travel restrictions or quarantines, and generally have a significant impact on the Chinese economy, which in turn could adversely affect the Fund’s investments.",risk "Any public health emergency could reduce consumer demand or economic output, result in market closures, travel restrictions or quarantines, and generally have a significant impact on the Chinese economy, which in turn could adversely affect the Fund’s investments. ",risk "This coronavirus has resulted in closing borders, enhanced health screenings, changes to healthcare service preparation and delivery, quarantines, cancellations, disruptions to supply chains and customer activity, as well as general concern and uncertainty.",risk Companies in this industry may be adversely affected by changes in commercial and consumer demand for their products.,risk "Weak demand for the companies’ products or services or for clean energy products and services in general, may adversely affect the Fund’s performance.",risk "Based on a 1.5-degrees decarbonization pathway, the potential impact of climate transition risk is estimated.",risk "ESG Strategy Risk—Because the Fund’s ESG investment strategy will exclude securities of certain issuers for nonfinancial reasons (i.e., companies that do not demonstrate sustainable ESG characteristics or are involved in certain prohibited activities), the Fund may forgo some market opportunities available to funds that do not use an ESG investment strategy or may be required to sell a security when it might otherwise be disadvantageous to do so.",risk "Investing only in a portfolio of securities of companies with low carbon exposure may affect the Fund’s exposure to certain types of investments, particularly in the energy and transportation sectors or related industries, and may impact the Fund’s relative investment performance, depending on whether such investments are in or out of favor in the market.",risk The Fund’s results may be lower than other funds that do not seek to invest in companies based on ESG ratings and/or screen out certain companies or industries.,risk "Net zero transition companies risk: Because the Fund will exclude securities of certain issuers for non-financial reasons (i.e., companies that the sub-adviser does not classify as Net Zero Transition Companies and companies involved in certain prohibited activities), the Fund may forgo some market opportunities available to funds that do not pursue a net zero carbon economy investment strategy or may be required to sell a security when it might otherwise be disadvantageous to do so.",risk "The Fund’s ESG investment strategy limits the types and number of investment opportunities available to the Fund and, as a result, the Fund may underperform other funds that do not have an ESG focus.",risk The Fund’s environmental criteria limit the available investments compared with funds with no such criteria. ,risk The Fund may also underperform other funds that apply different ESG standards.,risk "The Fund’s consideration of ESG factors as part of its investment strategy may limit the types and number of investment opportunities available to the Fund and, as a result, the Fund may underperform other funds that do not consider ESG factors.",risk "The Underlying Index’s ESG methodology, and thus the fund’s investment strategy, limits the types and number of investment opportunities available to the fund and, as a result, the fund may underperform other funds that do not have an ESG focus.",risk "Application of FMR’s ESG ratings process and/or its sustainable investing exclusion criteria may affect the fund’s exposure to certain issuers, sectors, regions, and countries and may affect the fund’s performance depending on whether certain investments are in or out of favor.",risk "The Fund’s ESG investment strategy may result in the Fund investing in securities, industries or sectors that underperform the market as a whole or underperform other funds screened for ESG criteria.",risk "The Fund’s strategy of investing in securities of companies with low carbon exposure limits the type and number of investment opportunities available to the Fund and, as a result, the Fund may underperform other funds that do not seek to minimize carbon exposure.",risk "The Fund’s results may be lower than other funds that do not seek to invest in issuers based on ESG criteria, or that use a different methodology to screen out issuers or evaluate ESG criteria.",risk The Fund’s ESG investment strategy may result in the Fund investing in securities or industry sectors that underperform the market as a whole or underperform other funds screened for ESG standards.,risk "Additionally, thematic investing involves the risk that the Environmental Impact Themes are out of favor, or that the securities chosen to represent those themes underperform the market as a whole.",risk "5 Prospectus sustainable investing exclusion criteria may affect the fund’s exposure to certain issuers, sectors, regions, and countries and may affect the fund’s performance depending on whether certain investments are in or out of favor.",risk "Additionally, thematic investing involves the risk that the green building theme is out of favor, or that the securities chosen to represent that theme underperform the market as a whole.",risk "The Fund’s investment strategy of investing in green bonds limits the types and number of investment opportunities available to the Fund and, as a result, the Fund may underperform other funds that do not have a green bond focus.",risk "The application of responsible investment criteria may affect the Fund’s exposure to certain sectors or types of investments, and may impact the Fund’s relative investment performance depending on whether such sectors or investments are in or out of favor in the market.",risk "Further, there is a risk that information used by the Index Provider to evaluate ESG factors may not be readily available, complete or accurate, which could negatively impact the Index Provider’s ability to apply its ESG standards when compiling the Underlying Index, and which may negatively impact the Fund’s performance.",risk ESG investing also carries the risk that a Fund’s investment returns may underperform funds that do not utilize an ESG investment strategy.,risk The Fund’s results may be lower than other funds that do not consider ESG characteristics or use a different methodology to identify and/or incorporate ESG characteristics.,risk "As a result, the Fund may underperform other funds with similar strategies that do not have an ESG focus.",risk Investing in a portfolio of securities of companies attempting to reduce their carbon footprint may impact the fund’s relative investment performance depending on whether such investments are in or out of favor in the market.,risk The Underlying Index’s ESG methodology may result in the fund investing in securities or industry sectors that underperform the market as a whole or underperform other funds screened for ESG standards.,risk "Investments in High Social Impact Investments are not included in an Index, and a Fund’s performance may deviate from the Index it seeks to track as a result.",risk The Fund’s low carbon exposure investment strategy may result in the Fund investing in securities or industry sectors that underperform the market.,risk This may cause the Fund to underperform the stock market as a whole or other funds that do not use an ESG investment strategy.,risk "In addition, because the Index selects securities for inclusion based on ESG criteria, the Fund may forgo some market opportunities available to funds that do not use these criteria. ",risk "The Underlying Index’s methodology for identifying companies attempting to reduce their carbon footprint limits the types and number of investment opportunities available to the fund and, as a result, the fund may underperform other funds that do not follow a carbon reduction strategy.",risk "The criteria related to the fund’s ESG ratings process and/or adherence to its sustainable investing exclusion criteria may result in the fund forgoing opportunities to buy certain securities when it might otherwise be advantageous to do so, or selling securities for ESG reasons when it might be otherwise disadvantageous for it to do so.",risk "ESG Investing Risk—the Subadviser incorporates ESG criteria into its investment process, which may result in the selection or exclusion of securities of certain issuers for reasons other than financial performance, and carries the risk that the Fund’s investment returns may underperform funds that do not utilize an ESG investment strategy.",risk It is suitable for Investors who accept that the Sub-fund's commitment to contribute to the environmental and/or social objective and the low sustainability risk may materially impact the Sub-fund's returns.,risk "Because the Fund evaluates ESG factors to assess and exclude certain investments for non-financial reasons, it may forego some market opportunities available to funds that do not use these factors.",risk The securities of issuers that score favorably under the Fund’s ESG scoring methodology may underperform similar issuers that do not score as well or may underperform the market as a whole.,risk The Fund’s results may be lower than other funds that do not apply certain exclusionary screens or use different ESG criteria to screen out certain companies or industries.,risk "The Fund’s consideration of ESG factors may result in the Fund investing in securities or industry sectors that underperform the market as a whole, or forgoing opportunities to invest in securities that might otherwise be advantageous to buy.",risk "As a result, the Fund may underperform funds that do not screen or score issuers based on ESG factors or funds that use a different ESG methodology.",risk The Index’s use of ESG criteria may result in the Fund investing in securities that underperform the market as a whole or underperform other funds screened for ESG criteria.,risk The Fund’s green bond investment strategy may result in the Fund investing in securities or industry sectors that underperform the market as a whole or underperform other funds with a green bond focus.,risk "The Index excludes companies based on ESG criteria, which in turn limits the number of investment opportunities available to the Fund.",risk "The Adviser carefully selects its third-party ESG data providers, but due to the specialized resources necessary to obtain ESG-related information underlying or related to the ESG data provided by third-party ESG research firms, the Adviser does not undertake to, and does not, independently test or verify the factors used or data provided by such firms, including Sustainalytics and OWL ESG.",risk "The Index Provider carefully selects its third-party ESG data providers, but due to the specialized resources necessary to obtain ESG-related information underlying or related to the ESG data provided by third-party ESG research firms, the Index Provider does not undertake to, and does not, independently test or verify the factors used or data provided by such firms.",risk "Generally, the index provider does not provide any warranty, or accept any liability, with respect to the quality, accuracy or completeness of the Underlying Index or its related data, and does not guarantee that the Underlying Index will be in line with its stated methodology.",risk "Furthermore, data availability and reporting with respect to ESG criteria may not always be available or may become unreliable.",risk "Furthermore, because ESG considerations are still an emerging area of investment focus, data availability and reporting with respect to ESG criteria may not always be available or may become unreliable. ",risk "ESG data may be incomplete or erroneous, which could cause the sub-adviser to incorrectly assess a company’s ESG characteristics.",risk "Moreover, because ESG considerations are still an emerging area of investment focus, ESG information and metrics can be difficult to obtain or not able to be obtained.",risk "In making investment decisions, the sub-adviser relies on information and data that could be incomplete or erroneous, which could cause the sub-adviser to incorrectly assess a company’s ESG characteristics.",risk "The evaluation of ESG factors is often subjective and the third-party ESG data providers used by the Fund, currently, Sustainalytics and OWL ESG, may not identify or evaluate every relevant ESG factor with respect to every investment.",risk "The carbon reduction criteria used to score and weight companies in the Underlying Index is based on publicly available information, third-party data sources and/or provided by the companies themselves and such information may be unavailable or unreliable.",risk "The evaluation of ESG factors and implementation of ESG-related investment restrictions (e.g., screens) rely on the availability of timely, complete, and accurate ESG data reported by issuers and/or third-party research providers.",risk "The Carbon Risk Rating used to score and weight companies in the Underlying Index is based on publicly available information, third-party data sources and/or provided by the companies themselves and such information may be unavailable or unreliable.",risk "Further, in selecting Net Zero Transition Companies for inclusion in the Fund’s portfolio, the sub-adviser may rely on information and data related to carbon intensity and carbon emissions provided by a third-party research firm, which could be incomplete or erroneous, which in turn could cause the sub-adviser to assess a company’s net zero carbon economy characteristics incorrectly.",risk "Neither the Fund nor BlackRock make any representation or warranty, express or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of such ESG assessment.",risk The evaluation of ESG factors is often subjective and the third-party ESG data providers used by the Index may not identify or evaluate every relevant ESG factor with respect to every Index constituent.,risk "Furthermore, data availability and reporting with respect to net zero carbon economy criteria may not always be available or may become unreliable. ",risk "In evaluating an investment, the investment adviser is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could adversely affect the analysis of the ESG factors relevant to a particular investment.",risk "The successful implementation of the Fund’s strategy is therefore dependent in large part on the ESG factors considered and research methodologies employed by its third-party ESG data providers, as well as the timely availability of accurate information.",risk "The Fund’s screening criteria is measured at the time of investment and is dependent upon information and data that may be incomplete, inaccurate or unavailable.",risk "When conducting the ESG ratings process of an issuer or compiling and maintaining the sustainable investing exclusion list, the Adviser may rely on information or data obtained through voluntary or thirdparty reporting that may be incomplete, inaccurate, or unavailable, which could cause the Adviser to incorrectly assess an issuer’s business practices with respect to ESG or to incorrectly include or exclude an issuer on or from its sustainable investing exclusion list.",risk "Further, in selecting companies for inclusion in the Index, the Index Provider relies on information and ESG performance data from an affiliated research provider, which could be incomplete or erroneous, which in turn could cause the Index Provider to assess a company’s ESG characteristics incorrectly. ",risk "In evaluating a security or issuer based on ESG criteria, BlackRock is dependent upon certain information and data from third party providers of ESG research, which may be incomplete, inaccurate or unavailable.",risk "When evaluating an issuer, the Adviser is dependent on information or data obtained through voluntary or thirdparty reporting that may be incomplete, inaccurate, or unavailable, which could cause the Adviser to incorrectly assess an issuer’s business practices.",risk "Additionally, when conducting the rating process for an issuer, the Adviser may rely on information or data obtained through voluntary or third-party reporting that may be incomplete, inaccurate, or unavailable, which could cause the Adviser to incorrectly assess a company’s business practices with respect to the climate.",risk "In evaluating a company, the Subadviser is dependent upon information and data obtained through voluntary or third-party reporting that may be incomplete, inaccurate or unavailable, which could cause the Subadviser to incorrectly assess a company’s ESG practices.",risk "BlackRock is dependent upon certain information and data from third party providers of ESG research, which may be incomplete, inaccurate or unavailable.",risk "reporting that may be incomplete, inaccurate, or unavailable, which could cause the Adviser to incorrectly assess an issuer’s business practices with respect to ESG or to incorrectly include or exclude an issuer on or from its sustainable investing exclusion list.",risk "There may be limitations with respect to availability of ESG data in certain sectors, as well as limited availability of investments with positive ESG assessments in certain sectors.",risk "The Fund relies on various service providers, including the investment adviser, in its operations and is susceptible to operational, information security and related events (such as public health crises, cyber or hacking attacks) that may affect the service providers or the services that they provide to the Fund.",risk The criteria used to calculate a company’s greenhouse gas emissions may not properly measure a company’s carbon footprint.,risk "Robeco currently relies on third-party data, including data in relation to companies that do not disclose on the EU Taxonomy alignment of their activities.",risk "PROSPECTUS ROBECO CAPITAL GROWTH FUNDS currently relies on third-party data, including data in relation to companies that do not disclose on the EU Taxonomy alignment of their activities.",risk "Where the Fund’s screening criteria looks solely to third-party ratings or data, issuers are only screened to the extent such ratings or data have been assigned or made available by the third parties.",risk "The third-party data providers may differ in the data they provide for a given security or between industries, or may only take into account one of many carbon-related components of a company.",risk "It, therefore, is possible that the Fund may invest in securities of companies that are later determined to be inconsistent with the Fund’s model investment criteria not because the company’s activities or products have changed as in the prior example, but because relevant information about that company was not known or was inaccurate at the time of investment or because the third-party ESG data and research firm now considers additional information that causes the company to no longer meet the investment criteria.",risk "In addition, the Underlying Index’s methodology allows for the inclusion of companies with high carbon intensity as long as such companies adopt plans to improve their climate impact and carbon footprint in the future.",risk "In addition, the Sub-fund invest in sovereigns and supranationals, for which sustainable investments defined as green, social, sustainable and/or sustainability-linked bonds from these issuers are not aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights.",risk "In addition, the fund may invest in an issuer prior to completion of the sustainability analysis or without engaging with the issuer’s management.",risk "While the Fund intends for its environmental assessment at the aggregate portfolio level to exceed the Underlying Index, individual portfolio securities will not have to meet a prescribed standard.",risk BlackRock’s evaluation of ESG criteria is subjective and may change over time.,risk "In addition, the Fund may not be successful in its objectives related to ESG characteristics, climate risk and climate opportunities.",risk "The Fund may not include all instruments in its ESG-related assessments, and may place weight on other factors when selecting investments.",risk The Fund may not include all instruments in its ESG related assessments and may place weight on other factors when selecting investments.,risk "In addition, the Fund may not be successful in its objectives related to ESG.",risk This screening criteria is subject to change over time at BlackRock’s discretion.,risk "For those reasons, the index provider may be unsuccessful in creating an index composed of companies that positively contribute to carbon reduction goals.",risk Securities may be deemed suitable for investment even if the issuer does not operate in accordance with all elements of the Fund’s responsible investing criteria.,risk "Social, sustainable or sustainability-linked bonds may invest (part of) their use of proceeds in economic activities that contribute to a social objective, however the Sub-fund does not intend to set a minimum target.",risk "However, at the Adviser’s discretion, the Fund is permitted to make an investment without a written ESG assessment on file at the time of purchase, as long as the Adviser believes the security meets the Fund’s sustainability criteria.",risk "The Fund, indirectly through its investments in certain Underlying Funds (other than the Underlying iShares ESG Funds), may have exposure to investments that generally would be screened out based on certain ESG standards.",risk "For those reasons, the index provider may be unsuccessful in creating an index composed of companies that exhibit positive ESG characteristics.",risk "In addition, the Fund may gain indirect exposure (through, including but not limited to, derivatives and investments in other investment companies) to issuers with exposures that are inconsistent with the ESG-related criteria used by BlackRock.",risk "Green bonds may invest (part of) their use of proceeds in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy, however the Sub-fund does not intend to set a minimum target.",risk "Because the Underlying Index’s carbon intensity reduction goals are applied on an aggregate basis, there may be certain companies included in the Underlying Index which do not meet the Underlying Index’s carbon intensity reduction goals individually.",risk "There is no guarantee that these objectives will be achieved, and ESG-related assessments are at BlackRock’s discretion.",risk There is no guarantee that the Underlying Index will reflect exposures to the intended Environmental Impact Themes.,risk "There is no assurance that the Underlying Index provider will compile the Underlying Index accurately, or that the Underlying Index will be determined, 4 Xtrackers MSCI USA ESG Leaders Equity ETF Summary Prospectus December 22, 2022",risk "Applying ESG criteria to investment decisions is qualitative and subjective by nature, and there is no guarantee that the criteria utilized by the Subadviser or any judgment exercised by the Subadviser will reflect the beliefs or values of any particular investor.",risk There is also a risk that BlackRock may not apply the relevant ESG criteria correctly or that the Fund could have indirect exposure to issuers who do not meet the relevant ESG criteria used by the Fund.,risk "In addition, companies that fail to meet the Sector Criteria may nevertheless be included in the Underlying Index if they have committed to certain targets regarding climate change.",risk "In addition, to the extent that circumstances change between the Underlying Index’s scheduled rebalancing dates, the Underlying Index may include, and the fund may hold for a period of time, securities of companies that do not align with the carbon intensity reduction goals.",risk "There can be no assurance that every Fund investment will meet carbon emissions criteria, or will do so at all times, or that the carbon emissions criteria or any judgement exercised by the sub-adviser will reflect the beliefs or values of any particular investor. ",risk "To the extent that circumstances change between the Underlying Index’s scheduled rebalancing dates, the Underlying Index may include, and the fund may hold for a period of time, securities of companies that do not align with the ESG criteria.",risk "A company’s carbon-reduction performance or practices or the sub-adviser’s assessment of those actions could vary over time, which could cause the Fund to be temporarily invested in companies that do not comply with its net zero carbon economy criteria.",risk There is no assurance that the Fund will be able to reach its goal of a net zero greenhouse gas emissions portfolio in the aggregate by 2050.,risk "In addition, companies selected for inclusion in the Fund may not exhibit positive or favorable ESG characteristics at all times and may shift into and out of favor depending on market and economic conditions.",risk "In addition, there is a risk that the companies identified by the Fund’s ESG investment strategy will not operate as expected when addressing ESG issues or they will not exhibit positive ESG characteristics as intended.",risk "Under the Underlying Index’s methodology, a company may have considerable carbon intensity today, resulting in a poor Carbon Risk Classification, and at the same time be actively working to improve their climate impact and carbon footprint in the future, resulting in a high Carbon Performance Score.",risk The responsible investing criteria of the Fund may be changed by the Board without shareholder approval.,risk The Underlying Index may still include significant exposure to large companies that have proportionately greater carbon exposure relative to smaller companies with lower carbon exposure S-2 Table of Contents,risk "As a result, the issuers deemed eligible for inclusion in the Fund’s portfolio may not reflect the beliefs or values of any particular investor and may not be deemed to exhibit positive or favorable ESG characteristics if different metrics were used to evaluate them.",risk "Additionally, certain Underlying Funds may not screen out investments based on certain ESG standards.",risk "High Social Impact Investment debt obligations are unrated and of below-investment grade quality, and involve a greater risk of default and price decline than investment grade investments.",risk "In addition, projects funded by green bonds selected by the Index Provider may not result in direct environmental benefits.",risk The Underlying Index therefore may include companies involved in sectors that often are excluded by indices attempting to utilize an ESG approach.,risk "Not every Fund investment will meet ESG performance indicators, or will do so at all times, and there can be no assurance that the ESG factor evaluation or any judgment exercised by the sub-adviser will reflect the beliefs or values of any particular investor. ",risk "In addition, companies selected by the Index Provider may not later display positive or favorable ESG characteristics.",risk "The Fund’s goal of achieving a net zero greenhouse gas emissions portfolio in the aggregate by 2050 may conflict with the Fund’s primary objective of seeking favorable long-term total return, and there is no assurance that the Fund will be able to reach its carbon emission goal.",risk "In addition, the Fund’s goal of achieving a net zero greenhouse gas emissions portfolio in the aggregate by 2050 may conflict with the Fund’s primary objective of seeking favorable long-term total return, and there is no assurance that the Fund will be able to achieve its net zero goal if such a conflict exists. ",risk The responsible investment criteria of the Fund may be changed by the Board without shareholder approval.,risk "While the Underlying Index’s methodology aims to reflect annual reductions in the carbon intensity of the Underlying Index, there is no assurance that such reduction targets will be achieved.",risk "The Underlying Index seeks to include the companies in each sector that have the highest ESG performance relative to the other companies in the sector, and as a result may include companies that do not exhibit positive ESG performance when compared to a broader universe of companies.",risk "As a result, the Index may include constituent companies that do not reflect the beliefs or values of a particular investor and may not be deemed to exhibit favorable ESG characteristics if different metrics or ESG rating agencies were used to evaluate them.",risk The Sub-fund does not intend to make investments considered as sustainable investments as defined under the SFDR Regulation (EU) 2019/2088. ,risk Such investments will generally not be subject to responsible investment analysis and will not be required to be consistent with the responsible investment criteria otherwise applicable to investments made by the Fund.,risk Fidelity® Water Sustainability Fund may invest in issuers that do not reflect the beliefs and values of any particular investor.,risk "The Fund may gain indirect exposure (through, including but not limited to, derivatives and investments in other investment companies) to issuers with exposures that are inconsistent with the screening and SDG alignment criteria used by BlackRock as described above.",risk