# Management and Governance
### The SICAV
Name and registered office
Fidelity Funds
2a Rue Albert Borschette, BP 2174 L-1246 Luxembourg
Website fidelityinternational.com
Legal structure Open-ended investment scheme organised
as a société d’investissement à capital variable (SICAV)
Legal jurisdiction Luxembourg Incorporated 15 June 1990 Duration Indefinite
Articles of incorporation First published in the Mémorial, Recueil Spécial des Sociétés et Associations on 21 August 1990; latest amendments published in the Mémorial on 3 April 2019
Regulatory authority
Commission de Surveillance du Secteur Financier
283, route d’Arlon, L-1150 Luxembourg
Registration	number	(Luxembourg	Trade	and Companies Register) 34 036
Financial year 1 May to 30 April
Capital Sum of the net assets of all of the funds
Minimum capital EUR 1,250,000 or equivalent in any other currency
Par value of shares None
Structure and Governing Law
The SICAV qualifies as an UCITS under Part 1 of the 2010 Law, and is registered as such with the CSSF. Registration with the CSSF does not constitute an endorsement or any statement about the adequacy or accuracy of a prospectus. The SICAV functions as an “umbrella fund” under which the funds are created and operate. The assets and liabilities of each fund are segregated from those of other funds; there is no cross- liability, and a creditor of one fund has no recourse to the assets of any other fund.
Disputes arising among the shareholders, the Management Company and the depositary will be settled according to Luxembourg law and subject to the jurisdiction of the District Court of Luxembourg. However, with disputes involving investors who are residents of other countries, or transactions in shares occurring in other countries, the Management Company or the depositary may choose to submit themselves, and the SICAV, to the jurisdiction of courts or laws of those countries. To lodge a complaint, contact the Compliance Department of the Management Company (see contact information on page 3).
The ability for a shareholder to bring a claim against the SICAV expires 5 years after the event on which the claim would be based.
The Board
Anne Richards, CVO, CBE (Chair)
CEO, FIL
United Kingdom
Dr. Yousef A. Al-Awadi, KBE (independent director)
Kuwait
Didier Cherpitel (independent director)
Switzerland
Carine Feipel (independent director)
Luxembourg
Abby Johnson
President and CEO, FMR LLC; Chair, FMR Co.; Chair, FIL USA
Glen Moreno (independent director)
USA
Jon Skillman (independent director)
Luxembourg
FIL (Luxembourg) S.A.
Represented by Nishith Gandhi
The Board is responsible for the overall investment policy, objectives, and management of the SICAV and funds and, as described more fully in the articles, has broad powers to act on behalf of the SICAV and the funds, including:
- appointing and supervising the management company
- setting investment policy and approving the appointment of any investment manager, sub-investment manager, or investment adviser
- making all determinations regarding the launch, modification, merger, split, termination, or discontinuation of funds and share classes, including such matters as timing, pricing, fees, distribution policy and payment of dividends, liquidation of the SICAV, and other conditions
- determining eligibility requirements and ownership restrictions for investors in any fund or share class, and what steps may be taken in the case of any violation
- determining the availability of any share class to any investor or distributor or in any jurisdiction
- determining when and how the SICAV will exercise its rights and will distribute or publicise shareholder communications
- ensuring that the appointments of the Management Company and the depositary are consistent with the 2010 Law and any applicable contracts of the SICAV
- determining whether to list any shares on the Luxembourg Stock Exchange (which is currently done for some shares) or any other stock exchangesThe Board has delegated the day-to-day management of the SICAV and its funds to the Management Company, which in turn has delegated some or all of its duties to various Investment Managers and other service providers, subject to its overall control and supervision.

The Board is responsible for the information in this prospectus and has taken all reasonable care to ensure that it is materially accurate, complete, and not misleading. The prospectus will be updated as required when funds are added or discontinued or when other material changes are made.
Directors serve until their term ends, they resign, or they are revoked, in accordance with the articles. Any additional directors will be appointed in accordance with the articles and Luxembourg law. Independent directors (directors who are not employees of any FIL Group entity) are entitled to receive compensation for serving on the Board and reimbursement of expenses related to their service as directors.
The Directors shall be indemnified by the SICAV against liability and related expenses in connection with any claim brought against such person by reason of their having been such Director or officer, provided that no indemnity shall be provided against liability to the SICAV or its shareholders by reason of willful misfeasance, bad faith, negligence or reckless disregard of duties or with respect to any matter as to which they shall have been finally adjudicated not to have acted in good faith in the reasonable belief that their action was in the best interests of the SICAV.
Professional Firms Engaged by the SICAV
The Management Company and various professional firms are engaged by the SICAV through service agreements that extend for an indefinite period. The SICAV may terminate any of these service agreements immediately if it determines it is in the shareholders’ interest. Otherwise, a holder of any of these service agreements can resign or be replaced by the SICAV (upon 90 days’ notice in case of the depositary). Regardless of the circumstances of termination, any professional firm must cooperate fully with a transition of its duties, consistent with its service agreement, its duties under law, and the instructions of the Board.

###### Management company
See “The Management Company” on page 63.

###### Depositary
Brown Brothers Harriman (Luxembourg) S.C.A.
80 Route d’Esch
L-1470 Luxembourg
The depositary provides such services as:
- safekeeping the assets of the SICAV (custody of assets that can be held in custody and ownership verification and record keeping of other assets)
- fulfilling oversight duties to ensure that the activities defined in the depositary agreement are carried out in accordance with the Board’s instructions and, above all, with the 2010 Law and the articles; these activities include the calculation of NAV, the issuing of fund shares, and the timely receipt and allocation of income and revenues to each fund and share class, among others
- cash flow monitoringThe depositary must use reasonable care in exercising its functions and is liable to the SICAV and shareholders for any losses that result from failing to properly perform its duties, as defined in the depositary agreement.

It may entrust some or all of SICAV’s assets to third party financial institutions (such as banks or clearinghouses), but this will not affect its liability. The fees of any third-party delegate appointed by the Depositary shall be paid by the SICAV.
Up-to- date information on sub-custodians is available at
bbh.com/luxglobalcustodynetworklist.
Where the law of a third country requires that certain investments be held in custody by a local entity, but no local entities satisfy the delegation requirement, the depositary may nevertheless delegate to a local entity so long as the SICAV has informed investors and has given the depositary appropriate instructions.
The depositary is not allowed to carry out activities with regard to the SICAV that may create conflicts of interest between the SICAV, the shareholders, and the depositary itself (including its service providers), unless it has properly identified any such potential conflicts of interest, has functionally and hierarchically separated the performance of its depositary tasks from its other potentially conflicting tasks, and the potential conflicts of interest are properly identified, managed, monitored, and disclosed to the SICAV and its shareholders. The depositary’s current conflicts of interest policy is available free of charge upon request to the depositary.

###### Lending agents
Brown Brothers Harriman & Co.
Boston, Massachusetts Citibank N.A. London Branch London, UK
The lending agents carry out Securities lending transactions and the management of associated collateral. Neither lending agent is an affiliate of the investment manager.

###### Auditor
Deloitte Audit S.à r.l.
20, Boulevard de Kockelscheuer L-1821 Luxembourg
The auditor provides independent review of the financial statements of the SICAV and all funds once a year. The auditor also verifies all performance fee calculations. The appointment is subject to shareholder’s approval at each annual general meeting.
Shareholder Meetings and Voting
The annual general meeting is generally held in Luxembourg at 12:00 Noon CET on the first Thursday in October each year, or if that is not a banking day in Luxembourg, then the next day that is. To the extent provided by Luxembourg law, the Board may choose to hold the annual general meeting at a different time, day, or place. Other shareholder meetings may be held at other places and times. All meetings are subject to appropriate approval and notification.
Written notice convening annual general meetings will be provided to shareholders as required by Luxembourg law and the articles.
Resolutions concerning the interests of all shareholders generally will be taken in a general meeting. The shareholders of a fund may hold a general meeting to decide on any matter that relates exclusively to that fund.
The right of a shareholder to attend a general meeting of shareholders and to exercise the voting rights attaching to their shares shall be determined by reference to shares held by this shareholder as at the Record Date
.
For information on admission and voting at any meeting, refer to the applicable convening notice.
Liquidation or Merger
Any decision of the Board to terminate, merge, split, or liquidate a share class, a fund, or the SICAV will be communicated to shareholders in accordance with Luxembourg law; see the section “Notices, Publications and Other Information”.

###### Liquidation of the SICAV, a fund or share class
The Board may decide to liquidate or divide into two or more funds or classes any share class or fund in the event that:
- the assets of the class or fund have fallen below USD 50 million
- the Board believes that it is justified either by a change in the economic or political situation relating to the fund or the class or that the interests of shareholders would justify itThe liquidation decision will be published or notified to the shareholders of the relevant fund prior to the effective date of the liquidation and the publication or notification will indicate the reasons and the procedures for the liquidation. Unless the Board otherwise decides in the interests of, or to keep equal treatment between, the shareholders, the shareholders of the fund or the class of shares concerned may continue to request redemption or conversion of their shares.

In all other circumstances or where the Board determines that the decision should be put to shareholders for approval, the decision to liquidate a fund or a class of Shares may be taken at a meeting of shareholders of the fund or class of Shares to be liquidated. At such meeting, no quorum shall be required and the decision to liquidate will be taken by simple majority of the votes cast. The decision of the meeting will be notified and/or published by the SICAV in accordance with applicable laws and regulations.
The Board may also, under the circumstances provided in the first paragraph above, decide upon the reorganisation of any fund by means of a division into two or more separate funds or to consolidate or split any Share classes within a fund. To the extent required by Luxembourg law, such decision will be published or notified, if appropriate, in the same manner as described in the first paragraph of this section. The Board may also decide to submit the question of the consolidation or split of classes of Shares to a meeting of shareholders of such classes. No quorum is required for this meeting and decisions are taken by the simple majority of the votes cast.
The SICAV is established for unlimited duration but may be liquidated at any time by resolution of shareholders in accordance with Luxembourg law. A general meeting of the shareholders will be called to consider the liquidation of the SICAV if the value of the SICAV’s net assets should decline to less than two-thirds of the minimum capital required by law. The minimum capital required by Luxembourg law is currently the equivalent of Euro 1,250,000. In the event of any contemplated liquidation of the SICAV, no further issues, switchings, or redemptions of Shares will be permitted after publication of the first notice convening the general meeting of Shareholders for the purpose of winding up the SICAV. All Shares outstanding at the time of such publication will participate in the SICAV’s liquidation distribution.
Amounts from liquidation of the SICAV or a fund that cannot be distributed to the shareholders within a period of nine months will be deposited in escrow with the Caisse de Consignation until the statutory period of limitation has elapsed. Amounts unclaimed within 30 years may be forfeited.
If, after the closure or liquidation of a fund, unexpected payments which relate to that specific fund are received by the SICAV and the Board considers that, in consideration of the
amounts concerned or the time elapsed since the close of the liquidation, it is not appropriate or operationally justified to revert to former shareholders, these amounts will be retained by the SICAV.

###### Mergers
Any merger of a fund shall be decided upon by the Board unless the Board decides to submit the decision for a merger to a meeting of shareholders of the fund concerned. No quorum is required for such meeting and decisions are taken by the simple majority of the votes cast. In case of a merger of one or more funds where, as a result, the fund ceases to exist, the merger shall be decided by a meeting of shareholders for which no quorum is required and that may decide with a simple majority of the votes cast. In addition, the provisions on mergers of UCITS set forth in the Law of 2010 and any implementing regulations (relating in particular to the notification to shareholders) shall apply.

### The Management Company
Company name and registered address
FIL Investment Management (Luxembourg) S.A. 2a Rue Albert Borschette, BP 2174
L-1246 Luxembourg
Website fidelityinternational.com Legal structure Société anonyme Legal jurisdiction Luxembourg Incorporated 14 August 2002 Regulatory authority
Commission de Surveillance du Secteur Financier 283, route d’Arlon, L-1150 Luxembourg
Registration	number	(Luxembourg	Trade	and Companies Register) B 88 635
Other funds managed See fidelityinternational.com
Directors of the Management Company
Christopher Brealey
Luxembourg Eliza Dungworth Luxembourg
Jon Skillman
Luxembourg
Sera Sadrettin-Perry United Kingdom Romain Boscher France
Conducting Officers
Florence Alexandre
Luxembourg
Stephan von Bismarck
United Kingdom Philip Hanssens Luxembourg
Corinne Lamesch Luxembourg Karin Winklbauer Luxembourg
Paul Witham
Luxembourg

###### Responsibilities and delegation
The Board of the SICAV has appointed the Management Company to perform investment management, administrative and marketing functions. With the approval of the Board and the CSSF, the Management Company has the option of delegating to qualified third parties some or all of the portfolio management, administration, and marketing functions, so long as it retains supervision, implements appropriate controls and procedures, and maintains the prospectus.
An Investment Manager may in turn appoint one or more investment sub-managers.
The Management Company must require any delegated entity to comply with the prospectus, articles, 2010 Law and other applicable provisions when acting on behalf of the SICAV. The Management Company must report to the Board quarterly, and the conducting officers must promptly inform the directors of the Management Company and the Board of any materially adverse administrative matters resulting from the actions of the investment manager, the general distributor and the Management Company itself.
The investment managers, investment sub-managers, and all service providers and delegates engaged by the Management Company have agreements to serve for an indefinite period.
The Board or the Management Company may terminate any of these service agreements immediately if it determines it is in the best interests of shareholders. Otherwise, a holder of any of these service agreements can resign or be replaced upon 90 days’ notice (under certain circumstances, 30 days for investment management agreements concerning shares authorised for sale in Hong Kong).
Management Company Policies
More information about these and other corporate conduct policies is available either at the links indicated below or as indicated in “Notices, Publications and Other Information” at the end of “Investing in the Funds”.

###### Conflicts of interest
FIL Group is a worldwide, full-service provider of, investment banking, asset management, and financial services and a major participant in the global financial markets. As such, FIL Group is active in various business activities and may have other direct or indirect interests in the financial markets in which the SICAV invests. The SICAV is not entitled to compensation related to such business activities.
The Management Company, Investment Manager, General Distributor and certain other distributors and service providers or delegates are part of FIL Group. A FIL Group entity could be an issuer or counterparty for a security or derivative a fund is considering buying or selling. In addition, a FIL Group entity that serves the SICAV in a given capacity could serve another SICAV (whether promoted by FIL Group or not) in a similar or different capacity.
In such cases, the Management Company seeks to identify, manage, and, where necessary, prohibit any action or transaction that could pose a conflict between the interests of
the FIL Group entities and the SICAV or its investors, for example the SICAV and other clients of FIL Group entities. Where transactions are conducted that might have the potential to be affected by a conflict of interest, such transactions must be conducted on normal commercial terms at arm’s length. Any incidents in which conflicts of interest may not have been adequately neutralised, as well as the decisions taken to address such incidents, will be reported to investors in the notes to the SICAV’s financial statements.
The management company, along with all other FIL Group entities, strives to manage any conflicts in a manner consistent with the highest standards of integrity and fair dealing. The Management Company conflict of interest policy is available at fidelityinternational.com.

###### Remuneration
The Management Company has implemented a remuneration policy that is designed not to encourage risk-taking inconsistent with the risk profile of the funds while not hindering the Management Company in its duty to act in the best interest of shareholders.
The remuneration policy:
- supports a performance culture that is based on merit
- differentiates and rewards excellent performance, both in the short and long term
- balances fixed and variable compensation to appropriately reflect the value and responsibility of the role performed day to day, and to influence appropriate behaviours and actions
- requires that compensation decisions for employees in independent control functions be determined by a control division’s senior management, so that these decisions will be wholly independent of the business areas
- is consistent with, and promotes, effective risk management practices, including sustainability risks
- is consistent with the management company’s conflict of interest policy and more broadly with its compliance and control cultureThe directors of the Management Company are responsible for ensuring that the policy is applied to all Management Company staff and for reviewing the policy every year. The current remuneration policy is available at www.fil.com. A paper copy can be obtained, free of charge, upon request, in English at the office of the Management Company.


###### Best execution
Each Investment Manager and sub-Investment Manager has adopted a best execution policy to implement all reasonable measures to ensure the best possible result for the SICAV, when executing orders. In determining what constitutes best execution, the Investment Manager and/or sub-Investment Manager will consider a range of different factors, such as price, liquidity, speed, and cost, among others, depending on their relative importance based on the various types of orders or financial instrument. Transactions are principally executed via brokers that are selected and monitored on the basis of the criteria of the best execution policy. Connected persons are also considered. To meet its best execution objective, the Investment Manager and/or sub-Investment Manager may choose to use agents (Connected Persons or not) for its order transmission and execution activities.
The Investment Manager, any of its delegates and/or any of their Connected Persons may effect transactions by or through the agency of another person with whom the Investment Manager, any of its delegates and/or any of their Connected Persons have an arrangement under which that party will from time to time provide to or procure for the Investment Manager, any of its delegates and/or any of their Connected Persons
goods, services or other benefits (such as research and advisory services, where permitted by regulation only) (“soft dollar arrangements”), the nature of which is such that their provision can reasonably be expected to benefit the SICAV as a whole and may contribute to an improvement in the SICAV’s performance and that of the Investment Manager or any of its delegates in providing services to the SICAV and for which no direct payment is made but instead the Investment Manager, any of its delegates and/or any of their Connected Persons undertake to place business with that party. For the avoidance of doubt, such goods and services do not include travel, accommodation, entertainment, general administrative goods or services, general office equipment or premises, membership fees, employee salaries or direct money payments. Periodic disclosure is made in the annual report of the SICAV in the form of a statement describing the soft dollar policies and practices of the Investment Manager or its delegates, including a description of goods and services received by them and/or any of their Connected Persons.
The Investment Manager, any of its delegates and/or any of their Connected Persons shall not retain the benefit of any cash commission rebate (being cash commission repayment made by a broker or dealer to the Investment Manager, any of its delegates and/or any of their Connected Persons) paid or payable from any such broker or dealer in respect of any business placed with such broker or dealer by the Investment Manager, any of its delegates and/or any of their Connected Persons for or on behalf of the SICAV. Any such cash commission rebate received from any such broker or dealer shall be held by the Investment Manager, any of its delegates and/or any of their Connected Persons for the account of the SICAV. Brokerage rates will not be excessive of customary institutional full-service brokerage rates. All transactions will be done with best execution. The availability of soft dollar arrangements may not be the sole or primary purpose to perform or arrange transaction with such broker or dealer.
Further information in respect of fees related to investment research, including the maximum that may be charged to a fund is available at the registered office of the SICAV or at fidelityinternational.com/researchbudget.
Professional Firms Engaged by the Management Company

###### Investment Manager
FIL Fund Management Limited Pembroke Hall, 42 Crow Lane Pembroke HM19, Bermuda
The Investment Manager handles the day-to-day management of each fund in accordance with the stated investment objectives and policies. It is authorized to act on behalf of the SICAV and choose agents, brokers, dealers, and effect securities trades for each fund’s portfolio.
The Investment Manager may receive investment advice from, and act upon the advice of, any Connected Person of the Investment Manager or any other third party adviser. Moreover, the Investment Manager may sub-delegate investment management activities to any Connected Person of the Investment Manager or any other eligible entity under applicable regulation. The Investment Manager shall remain responsible for the proper performance by such entity of those responsibilities.
The Investment Manager may sub-delegate Investment management to the following entities (including their branches). The annual and semi-annual reports list all entities having managed assets of each fund over the last six or twelve months.

###### Investment sub-managers
FIAM LLC
900 Salem Street Smithfield, RI 02917, USA
Fidelity Management & Research Company LLC
245 Summer Street Boston, MA 02210, USA
FIL Gestion
21, avenue Kléber
75784 Paris Cedex 16, France
FIL Investment Management (Australia) Limited
Level 17, 60 Martin Place Sydney, NSW 2000, Australia
FIL Investment Management (Hong Kong) Limited
Level 21, Two Pacific Place 88 Queensway
Admiralty, Hong Kong
FIL Investment Management (Singapore) Limited
8 Marina View, #35-06 Asia Square Tower 1
Singapore 018960
FIL Investments International Beech Gate, Millfield Lane Lower Kingswood, Tadworth Surrey, KT20 6RP UK
FIL Investments (Japan) Limited
7-7 7, Roppongi, Minato-ku
Tokyo 106 0032, Japan
FIL (Luxembourg) S.A.
2a, Rue Albert Borschette, BP 2174 L-1246 Luxembourg
Fidelity Investments Canada ULC
483 Bay Street, Suite 300, Toronto ON M5G 2N7, Canada
Geode Capital Management, LLC 100 Summer Street, 12th Floor Boston, MA 02110, USA
Geode Capital Management, LLC has been appointed as sub- Investment Manager for Fidelity Funds - EURO STOXX 50® Fund.
In addition, Geode Capital Management, LLC may also manage any of the assets of the following funds: Fidelity Funds
- Absolute Return Multi Strategy Fund, Fidelity Funds - Asia Pacific Multi Asset Growth & Income Fund, Fidelity Funds - European Multi Asset Income Fund; Fidelity Funds - Global Multi Asset Income Fund; Fidelity Funds – Global Multi Asset Dynamic Fund; Fidelity Funds - Global Multi Asset Growth & Income Fund; Fidelity Funds - Global Multi Asset Defensive Fund; Fidelity Funds - Global Thematic Opportunities Fund, Fidelity Funds - Greater China Multi Asset Growth & Income Fund, Fidelity Funds – Sustainable Multi Asset Income Fund; Fidelity Funds - SMART Global Defensive Fund; Fidelity Funds - Fidelity Institutional Target™ 2025 (Euro) Fund; Fidelity Funds - Fidelity Institutional Target™ 2030 (Euro) Fund; Fidelity Funds - Fidelity Institutional Target™ 2035 (Euro) Fund; Fidelity Funds -
Fidelity Institutional Target™ 2040 (Euro) Fund; Fidelity Funds - Fidelity Institutional Target™ 2045 (Euro) Fund; Fidelity Funds - Fidelity Institutional Target™ 2050 (Euro) Fund; Fidelity Funds - Fidelity Institutional Target™ 2055 (Euro) Fund; Fidelity Funds - Fidelity Institutional Target™ 2060 (Euro) Fund; Fidelity Funds – Fidelity Target™ 2025 (Euro) Fund; Fidelity Funds – Fidelity Target™ 2030 (Euro) Fund; Fidelity Funds – Fidelity Target™ 2035 (Euro) Fund; Fidelity Funds – Fidelity Target™ 2040 (Euro) Fund; Fidelity Funds – Fidelity Target™ 2045 (Euro) Fund; Fidelity Funds – Fidelity Target™ 2050 (Euro) Fund; Fidelity Funds – Fidelity Target™ 2055 (Euro) Fund; and Fidelity Funds – Fidelity Target™ 2060 (Euro) Fund. The Investment Manager may decide to allocate to Geode Capital Management, LLC such portion of the assets of these funds as it deems appropriate. The decision to allocate any portion of the assets, as well as the size of such allocation, will be based on a qualitative and quantitative selection process involving various criteria such as portfolio management experience, risk appetite, strategy, style or historical performance as well as suitability with regards to the investment objectives, policies and risk profile of the various funds. In any event, the portion of the funds’ assets which may be allocated to Geode Capital Management, LLC shall remain ancillary in respect of all these funds. While the Investment Manager will develop the overall strategy for the relevant funds, including the establishment of appropriate investment guidelines, Geode Capital Management, LLC will be responsible for the day-to-day investment decisions of the assets under its management, in continued compliance with the investment objectives and policies of the relevant funds.
The Investment Manager may supplement, replace or terminate the appointment of Geode Capital Management, LLC from time to time and/or reallocate assets of the funds among sub-investment managers without prior notice to Shareholders in circumstances where the Investment Manager believes that such action is necessary or desirable.

###### General distributor
FIL Distributors
Pembroke Hall, 42 Crow Lane Pembroke HM19, Bermuda
Phone +1 441 297 7267
Fax +1 441 295 4493
The General Distributor is responsible for marketing, sales or distribution of shares in the SICAV.

###### Other distributors and agents
The General Distributor may engage FIL Group companies as well as third parties as local distributors, dealing facilities or representatives in certain countries or markets. The Management Company may act as a dealing facility itself.
In some countries, use of an agent is mandatory, and the agent may not merely facilitate transactions but may hold shares in its own name on behalf of investors. Distributors can act as nominees, which may affect your rights as an investor.
| Entity and area served | Dis- tribu- tor | Deal- ing facility | Repre- senta- tive |
| --- | --- | --- | --- |
|  |  |  |  |
|   Bermuda	 |  |  |  |
| FIL Distributors International Limited PO Box HM670 Hamilton HMCX, Bermuda Phone (+1) 441 297 7267   Fax (+1) 441 295 4493	 | • | • |  |

| Entity and area served | Dis- tribu- tor | Deal- ing facility | Repre- senta- tive |
| --- | --- | --- | --- |
|  France	 |
| FIL Gestion 21, avenue Kléber 75784 Paris Cedex 16, France   Phone (+33) 7304 3000	 | • |  |  |
|  Germany	 |
| FIL	Investment	Services GmbH Kastanienhöhe 1 D61476 Kronberg im Taunus, Germany Phone (+49) 6173 5090   Fax (+49) 6173 5094 199	 | • | • |  |
|  Hong Kong	 |
| FIL Investment Management (Hong Kong) Limited Level 21, Two Pacific Place 88 Queensway Admiralty, Hong Kong Phone (+852) 2629 2629   Fax (+852) 2629 6088	 | • |  | • |
|  Ireland	 |
| FIL	Fund	Management (Ireland) Limited George’s  Quay  House  43 Townsend Street   Dublin DO2 VK65, Ireland	 |  |  | • |
|  Luxembourg	 |
| FIL (Luxembourg) S.A. 2a, Rue Albert Borschette, BP 2174 L-1246 Luxembourg Phone (+352) 2504 0424 00   Fax (+352) 2638 3938	 | • | • |  |
|  Taiwan	 |
| FIL  Securities  Investment Trust Co. (Taiwan) Limited 11F, 68 Zhongxiao East Road Section 5, Xinyi District Taipei   City 11065, Taiwan	 |  |  | • |
|  Singapore	 |
| FIL Investment Management (Singapore) Limited 8 Marina View #27-01-06, Asia Square Tower 1 Singapore 018960 Phone: (65) 6511 2200 Fax: (65) 6536 1960 |
|  Other jurisdictions	 |
| FIL Investments International Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP United Kingdom Phone (44) 1732 777377 Fax (44) 1732 777262 | • | • |  |
| FIL Pensions Management Beech Gate, Millfield Lane, Lower Kingswood, Surrey, KT20 6RP United Kingdom Phone (44) 1732 777377 Fax (44) 1732 777262 | • |  |  |


###### Sub-transfer agent
HSBC Continental Europe, Luxembourg Branch
16 Boulevard d’Avranches
1160 Luxembourg
The sub-transfer agent serves as transfer agent for non- US- and non-Canadian-resident clients investing through National Securities Clearing Corporation and Canadian Fundserv.
Fidelity, Fidelity International, the Fidelity International logo and symbol are trademarks of FIL Limited.
Contents
Sustainability Annexes
Fidelity Funds - FIRST All Country World Fund.	3
Fidelity Funds - Global Dividend Fund.	10
Fidelity Funds - Global Equity Income Fund.	17
Fidelity Funds - Global Financial Services Fund.	24
Fidelity Funds - Global Focus Fund.	31
Fidelity Funds - Global Technology Fund.	38
Fidelity Funds - Global Thematic Opportunities Fund.	45
Fidelity Funds - Institutional Global Focus Fund.	53
Fidelity Funds - Sustainable Biodiversity Fund.	60
Fidelity Funds - Sustainable Consumer Brands Fund.	69
Fidelity Funds - Sustainable Climate Solutions Fund.	77
Fidelity Funds - Sustainable Demographics Fund.	86
Fidelity Funds - Sustainable Future Connectivity Fund.	94
Fidelity Funds - Sustainable Global Dividend Plus Fund.	102
Fidelity Funds - Sustainable Global Equity Fund.	110
Fidelity Funds - Sustainable Global Equity Income Fund.	117
Fidelity Funds - Sustainable Global Health Care Fund.	125
Fidelity Funds - Sustainable Water & Waste Fund.	133
Fidelity Funds - World Fund.	142
Fidelity Funds - America Fund.	149
Fidelity Funds - American Growth Fund.	156
Fidelity Funds - Sustainable US Equity Fund.	163
Fidelity Funds - European Dividend Fund.	171
Fidelity Funds - European Dynamic Growth Fund.	178
Fidelity Funds - European Growth Fund.	185
Fidelity Funds - European Larger Companies Fund.	192
Fidelity Funds - European Low Volatility Equity Fund.	199
Fidelity Funds - Iberia Fund.	206
Fidelity Funds - Italy Fund.	213
Fidelity Funds - Institutional European Larger Companies Fund.	220
Fidelity Funds - Nordic Fund.	227
Fidelity Funds - Sustainable European Dividend Plus Fund.	234
Fidelity Funds - Sustainable Europe Equity Fund.	242
Fidelity Funds - Sustainable Eurozone Equity Fund.	250
Fidelity Funds - Sustainable European Smaller Companies Fund.	258
Fidelity Funds - Switzerland Fund.	266
Fidelity Funds - ASEAN Fund.	273
Fidelity Funds - Asia Pacific Dividend Fund.	280
Fidelity Funds - Asian Special Situations Fund.	287
Fidelity Funds - Pacific Fund.	294
Fidelity Funds - Sustainable Asia Equity Fund.	301
Fidelity Funds - Sustainable Asia Equity II Fund.	309
Fidelity Funds - Sustainable Asian Focus Fund.	317
Fidelity Funds - Sustainable Japan Equity Fund.	324
Fidelity Funds - China Consumer Fund.	332
Fidelity Funds - China Innovation Fund.	339
Fidelity Funds - Greater China Fund.	346
Fidelity Funds - Greater China Fund II.	353
Fidelity Funds - Sustainable All China Equity Fund.	360
Fidelity Funds - Sustainable China A Shares Fund.	368
Fidelity Funds - Emerging Asia Fund.	376
Fidelity Funds - Emerging Markets Fund.	383
Fidelity Funds - Institutional Emerging Markets Equity Fund.	390
Fidelity Funds - India Focus Fund.	397
Fidelity Funds - Sustainable Emerging Markets Ex China Fund.	404
Fidelity Funds - Sustainable Emerging Markets Equity Fund.	412
Fidelity Funds - Flexible Bond Fund.	420
Fidelity Funds - Global Bond Fund.	427
Fidelity Funds - Global Corporate Bond Fund.	434
Fidelity Funds - Global Hybrids Bond Fund.	441
Fidelity Funds - Global High Yield Fund.	448
Fidelity Funds - Global Income Fund.	455
Fidelity Funds - Global Inflation-linked Bond Fund.	462
Fidelity Funds - Global Short Duration Income Fund.	468
Fidelity Funds - Sustainable Climate Bond Fund.	475
Fidelity Funds - Sustainable Strategic Bond Fund.	483
Fidelity Funds - Sustainable US High Yield Fund.	490
Fidelity Funds - US Dollar Bond Fund.	497
Fidelity Funds - Euro Bond Fund.	504
Fidelity Funds - Euro Corporate Bond Fund.	511
Fidelity Funds - European High Yield Fund.	518
Fidelity Funds - Euro Short Term Bond Fund.	525
Fidelity Funds - Structured Credit Income Fund.	532
Fidelity Funds - Sustainable Asian Bond Fund.	538
Fidelity Funds - China RMB Bond Fund.	545
Fidelity Funds - Emerging Market Corporate Debt Fund.	552
Fidelity Funds - Emerging Market Debt Fund.	559
Fidelity Funds - Emerging Market Local Currency Debt Fund.	565
Fidelity Funds - Emerging Market Total Return Debt Fund.	571
Fidelity Funds - Sustainable Emerging Market Debt Fund.	577
Fidelity Funds - European Multi Asset Income Fund.	584
Fidelity Funds - Global Multi Asset Income Fund.	591
Fidelity Funds - Sustainable Multi Asset Income Fund.	598
Fidelity Funds - Sustainable Euro Cash Fund.	605
Fidelity Funds - Sustainable US Dollar Cash Fund.	611
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - FIRST All Country World Fund	549300AT2RPDETJ66407

##### Environmental and/or social characteristics
|  | Yes |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 10% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 10% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 10% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0267387255/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global Dividend Fund	549300TOZX7F2KZWXK25

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1261431768/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global Equity Income Fund	549300NJ0LHMXLO0MG36

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1084165130/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global Financial Services Fund	549300HO6N0F2KYZFZ92

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1391767586/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global Focus Fund	549300F4JJCOV7BCT788

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 10% 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
- with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework (fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 10% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 10% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1366333091/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global Technology Fund	549300TVS03JI4WXGJ44

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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
- with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1213836080/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global Thematic Opportunities Fund	5493007VVU2XBPB4GZ92

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 15% 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
- with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screening (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund aims to achieve long-term capital growth from a portfolio primarily made up of securities of companies throughout the world including emerging markets. The fund aims to invest in multiple long-term market themes by investing in securities that may benefit from structural and/or secular (i.e. long term and not cyclical) changes in economic and social factors, such as disruptive technologies, demographics and climate change. Secular changes generally last for ten years or more and can lead to structural changes.
Disruptive technologies are innovations that meaningfully change consumer, industry or company behaviour. Demographic trends are long-term dynamics including those related to ageing population (including companies relating to healthcare and retirement consumption), growth of the middle class (companies exposed to increased consumption, increasing financial services and urbanization), and population growth (including companies exposed to scarcity of resources and need for improving productivity and automation). The Investment Manager has the discretion on the choice of themes the fund invests in.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Fidelity’s Multi Asset Research team aim to understand an individual manager’s approach to ESG by evaluating how far ESG considerations are integrated within the investment process and philosophy, the analyst’s financial analysis and the composition of the portfolio. They consider how ESG factors are integrated into the investment policy of the strategy, and, where proprietary ratings are used, how ESG research and output is evidenced in individual security weights and any applicable engagement and exclusion policies. The team consults a range of data sources, including Fidelity Sustainability Ratings as well as third-party data, in order to assess the ESG metrics of the relevant strategies.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 15% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 3% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity Sustainability Ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 15% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 3% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 3% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund which are not aligned with the favourable ESG characteristics, will be invested in accordance with the financial investment objective of the fund, or cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As minimum environmental and social safeguard, all direct investments in corporate issuers will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0251129895/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Institutional Global Focus Fund	5493003YW9GXTX4AB509

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 10% 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
- with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 10% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 10% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0287143605/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Biodiversity Fund	254900A0NBA2VPEUUK66

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 50% 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 with a social objective - It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings.
The fund aims to achieve long term capital growth by investing primarily in equity securities of companies throughout the world which aim to enable the stabilisation or mitigation of biodiversity loss through technologies and solutions that (amongst other things) reduce the impact of climate change, pollution and over exploitation of natural resources.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund employs a primarily ‘thematic’ investment strategy to achieve its investment objectives, which includes investing in economic themes that are expected to contribute to a sustainable economy. In addition to theme selection, fundamental research is conducted on individual issuers. As part of the research process, environmental and social governance are considered. The factors considered relevant will vary between different issuers and industries and are integrated into investment decisions.
The fund aims to achieve long term capital growth by investing primarily in securities of companies throughout the world which aim to enable the stabilisation or mitigation of biodiversity loss through technologies and solutions that (amongst other things) reduce the impact of climate change, pollution and over exploitation of natural resources.
Examples of technologies and solutions to biodiversity loss provided by such companies include electric vehicles, biodegradable materials, agricultural efficiency, waste-water treatment, sustainable fish feeding, reduced land use and sustainable practices in mining and energy production.
The fund will also seek to select companies which adopt good practices contributing towards the stabilisation or mitigation of biodiversity loss either through the products or services they offer, or the policies they have in place. Investments will be focused on the companies that demonstrate leading biodiversity practices in their space as identified by FIL Group research analysts.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Thematic strategy under which a minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics and a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 50% in sustainable investments of which 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 30% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 3% have a social objective.

A minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics. When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 50% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 30% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 3% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 30% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 3% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2514100978/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Consumer Brands Fund	549300213EH7YILB9X45

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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
- with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings.
The fund aims to provide investors with long-term capital growth, primarily through investment in the equity securities of companies throughout the world, including those in countries considered to be emerging markets and linked to the theme of consumer brands (i.e. companies with intellectual property, pricing power and strong track record of growth). Investments will include, but will not be limited to, companies involved in the designing, manufacturing, marketing and/or selling of branded consumer goods and/or services.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund aims to provide investors with long-term capital growth, primarily through investment in the securities of companies throughout the world, including those in countries considered to be emerging markets and linked to the theme of consumer brands (i.e. companies with intellectual property, pricing power and strong track record of growth). Investments include, but are not be limited to, companies involved in the designing, manufacturing, marketing and/or selling of branded consumer goods and/or services.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Thematic strategy under which a minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics and a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 10% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

A minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics. When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 10% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 10% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1805238125/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Climate Solutions Fund	254900B74W1FPUZXHK46

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 50% 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 with a social objective - It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings.
The fund aims to achieve long term capital growth primarily through investments in equity securities of companies throughout the world, which are enabling global decarbonisation via technologies and solutions which materially reduce greenhouse gas (CO2 eq) emissions versus incumbent technologies.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund employs a primarily ‘thematic’ investment strategy to achieve its investment objectives, which includes investing in economic themes that are expected to contribute to a sustainable economy. In addition to theme selection, fundamental research is conducted on individual issuers. As part of the research process, environmental and social governance are considered. The factors considered relevant will vary between different issuers and industries and are integrated into investment decisions.
The fund aims to achieve long term capital growth primarily through investments in securities of companies throughout the world, which are enabling global decarbonisation via technologies and solutions which materially reduce greenhouse gas (CO2 eq) emissions versus incumbent technologies.
Investments will include companies involved in the design, manufacture or sale of products or services in technologies or solutions such as (but not limited to): electric vehicles, green hydrogen, autonomous vehicles, ride pooling, renewable energy, smart grids, industrial automation, agricultural efficiency, cloud computing, cellular networks, building efficiency solutions (including insulation, LED lighting and smart building systems) recycling, alternative meat / milk, e health, e work, and e learning. This list of low greenhouse gas (CO2 eq) technologies is not exclusive and can expand to include new solutions in the future.
Decarbonisation is measured in two different ways:
- The percentage reduction in greenhouse gas (CO2-eq) emissions if the global economy fully adopts the solutions, included in the investment universe.
- The absolute kilotons greenhouse gas (CO2-eq) emissions offset per year by the solutions the target companies help develop.

The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Thematic strategy under which a minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics and a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 50% in sustainable investments of which a minimum of 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 30% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 3% have a social objective.

A minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics. When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of assets in securities of issuers with favourable ESG characteristics;
- a minimum of 50% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 30% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 3% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 30% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 3% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2376061086/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Demographics Fund	549300RRAN0KBNO4IG54

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 35% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings.
The fund invests in equity securities of companies throughout the world that are able to benefit from demographics changes. Investments will include, but are not limited to, health care and consumer industries companies that stand to benefit from the effects of rising life expectancy, expanding middle class and population growth.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a quantitative scorecard for performance on mandatory PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund employs a primarily ‘thematic’ investment strategy to achieve its investment objectives, which includes investing in companies exposed to demographic trends to drive attractive returns over time. These are rising life expetancy, expanding middle class and population growth. An assessment of companies fondumental and sustainability credentials is conducted as part of the process.
As part of the research process, environmental and social governance are considered. The factors considered relevant will vary between different companies and industries, and are integrated into investment decisions.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Thematic strategy under which a minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics and a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
(i) a minimum of 70% of its assets in issuers with favourable ESG characteristics, including a minimum of 35% in sustainable investments of which 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.
A minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics. When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 35% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0528227936/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Future Connectivity Fund	2549000BDP4X7X1C9A86

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings.
The fund invests in the equity securities of companies throughout the world, that are linked to the theme of future connectivity (the enablers, networks and beneficiaries of next generation communications). Investments may be made in companies that are involved in the roll out of cellular networks, wired networks, internet infrastructure and online content production.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund employs a primarily ‘thematic’ investment strategy to achieve its investment objectives, which includes investing in economic themes that are expected to contribute to a sustainable economy. In addition to theme selection, fundamental research is conducted on individual issuers. As part of the research process, environmental and social governance are considered. The factors considered relevant will vary between different issuers and industries and are integrated into investment decisions.
The fund aims to provide investors with long-term capital growth, primarily through investment in the securities of companies throughout the world, including those in countries considered to be emerging markets and linked to the theme of future connectivity (the enablers, networks and beneficiaries of next generation communications).
Investments will include, but will not be limited to, companies that are involved in the roll out of cellular networks, wired networks, internet infrastructure, online content production.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Thematic strategy under which a minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics and a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework (fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 5% in sustainable investments of which 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

A minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics. When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1881514001/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Global Dividend Plus Fund	549300OZL7XSDZJCL571

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe after the exclusion of 20% of the assets with the lowest ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

The fund assesses the ESG characteristics of at least 90% of its assets. The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe after the exclusion of 20% of the assets with the lowest ESG ratings.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0261951957/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 9, paragraphs 1 to 4a, of Regulation (EU) 2019/2088 and Article 5, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Global Equity Fund	254900R7XPBV37D85Z68

##### Sustainable investment objective
|  | Yes |  | - No
 |
| --- | --- | --- | --- |
| It will make a minimum of sustainable investments with an environmental objective: 20% - in economic activities that qualify as environmentally sustainable under the EU Taxonomyin economic activities that do not qualify as environmentally sustainable under the EU TaxonomyIt will make a minimum of sustainable investments with a social objective: 20%
 | - 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 % 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
	- with a social objective

- It promotes E/S characteristics, but will not make any sustainable investments
 |

What is the sustainable investment objective of this financial product?
Sustainability indicators measure how the sustainable objectives of this financial product are attained.
The fund aims to achieve capital growth over the long term by investing in sustainable investments.
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives; provided they do no significant harm, meet minimum safeguards and good governance criteria.

The Investment Manager selects issuers based on the contribution of their economic
activities to environmental or social objectives which are aligned with the SDGs.
The SDGs are a series of goals published by the United Nations which recognise that ending poverty and other deprivations must go hand-in-hand with improvements in health and education, economic growth, and a reduction in inequalities, all while tackling climate change and working to preserve the planet’s oceans and forests. For further details see the UN website: https://sdgs.un.org/goals . Environmental focused SDGs include clean water and sanitation; affordable and clean energy; responsible consumption and production; and climate action.Social focused SDGs include no poverty; zero hunger; economic growth and productive employment; industry, innovation and infrastructure; safe and sustainable cities and communities.
No reference benchmark has been designated for the purpose of attaining the sustainable investment objective.
What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product?
The fund uses the following sustainability indicators in order to measure to what extent the sustainable investment objective is met:
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy;
- the percentage of the fund invested in sustainable investments with a social objective; and
- the percentage of the fund with exposure to investments that undertake activities that are excluded in accordance with the Exclusions (defined below).

How do sustainable investments not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of issuers identified under Fidelity’s norms based screens (as set out below);
Activity-based exclusions - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering
1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain,
4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
As set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
Norms-based screens are applied - issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), International Labour Organisation (ILO) Conventions, are not considered sustainable investments.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund invests in companies which contribute to environmental or social objectives aligned with one or more SDGs, do no significant harm, meet minimum safeguards and good governance requirements.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
Key components of the investment strategy are:
- sustainable investments; A minimum of 80% of these assets will be sustainable investments.
- Contributing to environmental or social objectives aligned with one or more SDGs; All companies in the fund must have a portion (greater than zero) of business activities which contribute to environmental or social objectives aligned with SDGs.
- Do No Significant Harm; The fund applies the “do no significant harm” criteria, as set out above, to all direct investments held within the fund.
- Minimum safeguards; The fund excludes direct investments that fail to conduct their business in accordance with accepted international norms, including as set out by OECD Guidelines for Multinational Enterprises, the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC) and the International Labour Organisation (ILO) Conventions.
- Good governance; All investee companies in the fund will be screened for controversies, including tax and bribery and corruption screenings.
- Exclusions; In respect of its direct investments, the fund is subject to:
	- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
	- a principle-based screening policy which includes:

- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
- negative screening of certain sectors, companies or practices based on specific ESG criteria where revenue thresholds may be applied.

The Investment Manager has discretion to implement sustainable requirements and exclusions having regard to their applicable investment process from time to time.
The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
In addition to the above, the fund assesses the ESG ratings (either based on external ratings or the Fidelity ESG ratings) of at least 90% of the fund’s assets and the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
What are the binding elements of the investment strategy used to select the investments to attain the sustainable investment objective?
The fund will invest a minimum of 80% of its assets in sustainable investments of which a minimum of 0% have an environmental objective which is aligned with the EU Taxonomy, a minimum of 20% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 20% have a social objective;
provided that such investments do not significantly harm any of those objectives and that investee companies follow good governance practices.
In attaining the sustainable investment objective, the fund commits to selecting companies whose economic activity contributes to an environmental or social objective aligned with one or more of the SDGs, as described in the investment strategy section above.
In addition to the above, the fund assesses the ESG ratings (either based on external ratings or the Fidelity ESG ratings) of at least 90% of the fund’sassets and the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
The fund will systematically apply the Exclusions as described above.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
All investee companies will be screened for controversies, including tax, bribery and corruption screenings, to help meet good governance requirements for investee companies. In addition to these screens, governance practices of issuers are assessed using fundamental research.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation and the minimum share of sustainable investments?
Asset allocation describes the share of investments in specific assets.
(#1 Sustainable)* The fund will invest a minimum of 80% of its assets in sustainable investments of which a minimum of 0% will have an environmental objective which is aligned with the EU Taxonomy, a minimum of 20% will have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 20% will have a social objective.
The remaining sustainable investments of the fund may have an environmental objective (which may or may not be aligned with the EU Taxonomy) or a social objective.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the sustainable investment objective?
Where the security underlying a derivative is deemed to contribute to the sustainable objective of the fund, the derivative may be used to contribute to the attainment of the sustainable investment objective.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU Taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 20% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of sustainable investments with a social objective?
The fund invests a minimum of 20% in sustainable investments with a social objective.
What investments are included under “#2 Not sustainable”, what is their purpose and are there any minimum environmental or social safeguards?
Investments included under “#2 Not sustainable” may include cash, investments used for hedging and efficient portfolio management purposes.
In addition, all direct investments of the fund must adhere to the Exclusions, do no significant harm to environmental or social objectives, have good governance practices and must not affect the delivery of the sustainable investment objective.

##### Is a specific index designated as a reference benchmark to meet the sustainable investment objective?
Reference benchmarks are indexes to measure whether the financial product attains the sustainable investment objective.
An index has not been designated as a reference benchmark to meet the sustainable investment objective.
How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2544614741/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Global Equity Income Fund	549300ZTEIN9RSGX1S04

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
In addition, the fund aims to have lower carbon footprint compared to that of the benchmark, the MSCI ACWI Index.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

The fund assesses the ESG characteristics of at least 90% of its assets. The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe after the exclusion of 20% of the assets with the lowest ESG ratings.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1627197004/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Global Health Care Fund	549300Z8HWYC400OQA29

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 40% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings.
The fund invests in equities of companies that are involved in design, manufacture or sale of products and services in connection with health care, medicine or biotechnology from anywhere in the world.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund employs a primarily ‘thematic’ investment strategy to achieve its investment objectives, which includes investing in economic themes that are expected to contribute to a sustainable economy. In addition to theme selection, fundamental research is conducted on individual issuers. As part of the research process, environmental and social governance are considered. The factors considered relevant will vary between different issuers and industries and are integrated into investment decisions.
The fund aims to provide investors with long-term capital growth, principally through investment in the securities of companies throughout the world which are involved in the design, manufacture, or sale of products and services used for or in connection with health care, medicine or biotechnology.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Thematic strategy under which a minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics and a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 40% in sustainable investments of which 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 25% have a social objective.

A minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics. When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 40% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 25% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 25% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0261952419/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Water & Waste Fund	254900IZ985QWMGJH651

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 35% 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 - with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings.
The fund invests in companies involved in the production of water and the treatment, disposal, and recycling of waste.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund employs a primarily ‘thematic’ investment strategy to achieve its investment objectives, which includes investing in economic themes that are expected to contribute to a sustainable economy. In addition to theme selection, fundamental research is conducted on individual issuers. As part of the research process, environmental and social governance are considered. The factors considered relevant will vary between different issuers and industries and are integrated into investment decisions.
The fund aims to achieve long-term capital growth from a portfolio primarily made up of securities issued by companies throughout the world and involved in the design, manufacture, or sale of products and services used for or in connection with water and waste management sectors.
The fund invests in companies involved in the production of water and the treatment, disposal, and recycling of waste.
The water management sector includes but is not limited to, those companies involved in water production, water conditioning, de-salination, supply, bottling, transport and dispatching of water. The waste management sector includes but is not limited to, those companies involved in the collection, recovery and disposal of waste; including recycling, incineration, anaerobic digestion of food waste (biological processes) and landfilling of residual waste. The sector also includes those companies specialising in the treatment of wastewater, sewage, solid, liquid and chemical waste and any consulting or engineering services in connection with these activities.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Thematic strategy under which a minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics and a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 35% in sustainable investments of which 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 15% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

A minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics. When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 35% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 15% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 15% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1892829828/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - World Fund	5493001CZJOXQY9N2O82

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 10% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 10% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 10% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1261432659/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - America Fund	549300V54PMROCISWF43

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 10% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 10% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 10% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0251127410/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - American Growth Fund	5493006HJTUO3KW6WK77

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0275692696/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable US Equity Fund	549300J1XTC50ZY0Z742

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 50% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe after the exclusion of 20% of the assets with the lowest ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 50% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 10% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 10% have a social objective.

The fund assesses the ESG characteristics of at least 90% of its assets. The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe after the exclusion of 20% of the assets with the lowest ESG ratings.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings,data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 50% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 10% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 10% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 10% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 10% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0261960354/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - European Dividend Fund	549300QYNIMMR1Q2GY78

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 25% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 25% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 25% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0353647737/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - European Dynamic Growth Fund	549300YTXDJLTI9R5058

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0261959422/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - European Growth Fund	549300G4OINSKM9K3661

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0296857971/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - European Larger Companies Fund	5493001IG3HUGK4JRN48

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0251129549/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - European Low Volatility Equity Fund	254900QTLOPDWWO9F129

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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 with a social objective - It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 10% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 10% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 10% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2346229433/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Iberia Fund	549300C6GMKNSN647A81

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0261948904/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Italy Fund	549300KCMWWQDPOVF030

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0922333322/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Institutional European Larger Companies Fund	549300ORQ1QXBQUTFE13

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2038752072/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Nordic Fund	549300WNSLR4RK6UO898

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0922334643/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable European Dividend Plus Fund	254900G129G6M801BZ71

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 25% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe after the exclusion of 20% of the assets with the lowest ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 25% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

The fund assesses the ESG characteristics of at least 90% of its assets. The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe after the exclusion of 20% of the assets with the lowest ESG ratings.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 25% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2272373502/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Europe Equity Fund	549300NM9ZITQTY7GU39

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 30% 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 with a social objective - It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe after the exclusion of 20% of the assets with the lowest ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 30% in sustainable investments of which a minimum of 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 10% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 10% have a social objective.

The fund assesses the ESG characteristics of at least 90% of its assets. The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe after the exclusion of 20% of the assets with the lowest ESG ratings.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 30% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 10% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 10% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 10% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 10% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0251128657/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Eurozone Equity Fund	549300BAPCX6D0E0Z219

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 40% 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 with a social objective - It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
When selecting investments, the fund’s investment universe, as represented by the MSCI EMU Index (the “Index) (for the purpose of this calculation), will be reduced by a minimum of 20% due to the exclusion of issuers on the basis of their ESG characteristics.
The fund aims to have lower carbon footprint compared to that of the Index. In addition, the Investment Manager will exclude investment in issuers with an MSCI ESG rating below ‘’A’’.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 40% in sustainable investments of which a minimum of 2% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 20% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 15% have a social objective.

When selecting investments, the fund’s investment universe, as represented by the Index (as defined above), will be reduced by a minimum of 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
When selecting investments, the fund’s investment universe, as represented by the Index, will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 40% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 2% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 20% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 15% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 2% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 20% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 15% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0238202427/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable European Smaller Companies Fund	54930019YO0DBESUKT66

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

When selecting investments, the fund’s investment universe will be reduced by a minimum of 20% due to the exclusion of issuers on the basis of their ESG characteristics.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
When selecting investments, the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2296467611/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Switzerland Fund	5493001N8Q97TPZUYT12

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 30% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 30% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 15% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 30% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 15% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 15% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0261951288/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - ASEAN Fund	549300NUQAYRMIJ1DF30

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0048573645/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Asia Pacific Dividend Fund	254900K34JQACEUYMM61

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0205439572/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Asian Special Situations Fund	5493001KQKB7F558TV86

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 10% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 10% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 10% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0413542167/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Pacific Fund	549300VW1XD85M3GUB26

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0368678339/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Asia Equity Fund	549300XNOLBE172DCX03

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the MSCI AC Asia ex Japan Index (the "Index") (for the purpose of this calculation), after the exclusion of 20% of the assets with the lowest ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

The fund assesses the ESG characteristics of at least 90% of its assets. The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the Index (as defined above), after the exclusion of 20% of the assets with the lowest ESG ratings.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0261946445/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Asia Equity II Fund	5493000YTYJ3T5Q1KB02

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0605512861/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 9, paragraphs 1 to 4a, of Regulation (EU) 2019/2088 and Article 5, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Asian Focus Fund	254900ZH0Z8VWSBW0D79

##### Sustainable investment objective
|  | Yes |  | - No
 |
| --- | --- | --- | --- |
| It will make a minimum of sustainable investments with an environmental objective: 10% - in economic activities that qualify as environmentally sustainable under the EU Taxonomyin economic activities that do not qualify as environmentally sustainable under the EU TaxonomyIt will make a minimum of sustainable investments with a social objective: 30%
 | - 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 % 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
	- with a social objective

- It promotes E/S characteristics, but will not make any sustainable investments
 |

What is the sustainable investment objective of this financial product?
Sustainability indicators measure how the sustainable objectives of this financial product are attained.
The fund aims to achieve capital growth over the long term by investing in sustainable investments.
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives; provided they do no significant harm, meet minimum safeguards and good governance criteria.

The Investment Manager selects issuers based on the contribution of their economic
activities to environmental or social objectives which are aligned with the SDGs.
The SDGs are a series of goals published by the United Nations which recognise that ending poverty and other deprivations must go hand-in-hand with improvements in health and education, economic growth, and a reduction in inequalities, all while tackling climate change and working to preserve the planet’s oceans and forests. For further details see the UN website: https://sdgs.un.org/goals . Environmental focused SDGs include clean water and sanitation; affordable and clean energy; responsible consumption and production; and climate action.Social focused SDGs include no poverty; zero hunger; economic growth and productive employment; industry, innovation and infrastructure; safe and sustainable cities and communities.
No reference benchmark has been designated for the purpose of attaining the sustainable investment objective.
What sustainability indicators are used to measure the attainment of the sustainable investment objective of this financial product?
The fund uses the following sustainability indicators in order to measure to what extent the sustainable investment objective is met:
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy;
- the percentage of the fund invested in sustainable investments with a social objective; and
- the percentage of the fund with exposure to investments that undertake activities that are excluded in accordance with the Exclusions (defined below).

How do sustainable investments not cause significant harm to any environmental or social sustainable investment objective?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of issuers identified under Fidelity’s norms based screens (as set out below);
Activity-based exclusions - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering
1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain,
4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
As set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights?
Norms-based screens are applied - issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), International Labour Organisation (ILO) Conventions, are not considered sustainable investments.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund invests in companies which contribute to environmental or social objectives aligned with one or more SDGs, do no significant harm, meet minimum safeguards and good governance requirements.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
Key components of the investment strategy are:
- sustainable investments; A minimum of 80% of these assets will be sustainable investments.
- Contributing to environmental or social objectives aligned with one or more SDGs; All companies in the fund must have a portion (greater than zero) of business activities which contribute to environmental or social objectives aligned with SDGs.
- Do No Significant Harm; The fund applies the “do no significant harm” criteria, as set out above, to all direct investments held within the fund.
- Minimum safeguards; The fund excludes direct investments that fail to conduct their business in accordance with accepted international norms, including as set out by OECD Guidelines for Multinational Enterprises, the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC) and the International Labour Organisation (ILO) Conventions.
- Good governance; All investee companies in the fund will be screened for controversies, including tax and bribery and corruption screenings.
- Exclusions; In respect of its direct investments, the fund is subject to:
	- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
	- a principle-based screening policy which includes:

- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
- negative screening of certain sectors, companies or practices based on specific ESG criteria where revenue thresholds may be applied.

The Investment Manager has discretion to implement sustainable requirements and exclusions having regard to their applicable investment process from time to time.
The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
In addition to the above, the fund assesses the ESG ratings (either based on external ratings or the Fidelity ESG ratings) of at least 90% of the fund’s assets and the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
What are the binding elements of the investment strategy used to select the investments to attain the sustainable investment objective?
The fund will invest a minimum of 80% of its assets in sustainable investments of which a minimum of 0% have an environmental objective which is aligned with the EU Taxonomy, a minimum of 10% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 30% have a social objective;
provided that such investments do not significantly harm any of those objectives and that investee companies follow good governance practices.
In attaining the sustainable investment objective, the fund commits to selecting companies whose economic activity contributes to an environmental or social objective aligned with one or more of the SDGs, as described in the investment strategy section above.
In addition to the above, the fund assesses the ESG ratings (either based on external ratings or the Fidelity ESG ratings) of at least 90% of the fund’sassets and the fund’s investment universe will be reduced by at least 20% due to the exclusion of issuers on the basis of their ESG characteristics.
The fund will systematically apply the Exclusions as described above.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
All investee companies will be screened for controversies, including tax, bribery and corruption screenings, to help meet good governance requirements for investee companies. In addition to these screens, governance practices of issuers are assessed using fundamental research.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation and the minimum share of sustainable investments?
Asset allocation describes the share of investments in specific assets.
(#1 Sustainable)* The fund will invest a minimum of 80% of its assets in sustainable investments of which a minimum of 0% will have an environmental objective which is aligned with the EU Taxonomy, a minimum of 10% will have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 30% will have a social objective.
The remaining sustainable investments of the fund may have an environmental objective (which may or may not be aligned with the EU Taxonomy) or a social objective.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the sustainable investment objective?
Where the security underlying a derivative is deemed to contribute to the sustainable objective of the fund, the derivative may be used to contribute to the attainment of the sustainable investment objective.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU Taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 10% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of sustainable investments with a social objective?
The fund invests a minimum of 30% in sustainable investments with a social objective.
What investments are included under “#2 Not sustainable”, what is their purpose and are there any minimum environmental or social safeguards?
Investments included under “#2 Not sustainable” may include cash, investments used for hedging and efficient portfolio management purposes.
In addition, all direct investments of the fund must adhere to the Exclusions, do no significant harm to environmental or social objectives, have good governance practices and must not affect the delivery of the sustainable investment objective.

##### Is a specific index designated as a reference benchmark to meet the sustainable investment objective?
Reference benchmarks are indexes to measure whether the financial product attains the sustainable investment objective.
An index has not been designated as a reference benchmark to meet the sustainable investment objective.
How does the reference benchmark take into account sustainability factors in a way that is continuously aligned with the sustainable investment objective?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2544614667/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Japan Equity Fund	549300CGT4V2XYYG0Y90

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the TOPIX Total Return Index (the "Index") (for the purpose of this calculation), after the exclusion of 20% of the assets with the lowest ESG ratings.
In addition, the Investment Manager will exclude investment in issuers with a Fidelity ESG ratings of ‘C’ or below.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

The fund assesses the ESG characteristics of at least 90% of its assets. The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the Index (as defined above), after the exclusion of 20% of the assets with the lowest ESG ratings.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0251130042/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - China Consumer Fund	5493007PTUTOK6CJU119

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0594300096/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - China Innovation Fund	549300IV1SMG8Q6CJU79

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 10% 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
- with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 10% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 10% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0455706654/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Greater China Fund	5493005EHFIWJMR7DT21

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1400166911/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Greater China Fund II	549300ZKE6NT4EWYQU42

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0605518397/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable All China Equity Fund	254900EMLMON5USOI521

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 10% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the MSCI China All Shares Index (the "Index") (for the purpose of this calculation), after the exclusion of 20% of the assets with the lowest ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 10% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

The fund assesses the ESG characteristics of at least 90% of its assets. The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the Index (as defined above), after the exclusion of 20% of the assets with the lowest ESG ratings.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 10% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2545263803/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable China A Shares Fund	254900CHVS0V7YXD7E55

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 25% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s net assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the MSCI China A International Index (the "Index") (for the purpose of this calculation), after the exclusion of 20% of the assets with the lowest ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 25% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 10% have a social objective; andThe fund assesses the ESG characteristics of at least 90% of its assets. The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the Index (as defined above), after the exclusion of 20% of the assets with the lowest ESG ratings.

In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity Sustainability ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 25% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 5% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 10% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 5% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 10% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2385790154/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Emerging Asia Fund	549300DFTX1HYCKWAS72

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 3% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 3% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 3% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0329678410/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Emerging Markets Fund	5493002DANCVJDN6B565

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 10% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 10% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 10% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1048684796/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Institutional Emerging Markets Equity Fund	549300APJHM18WNUFH86

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 10% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 10% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 10% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0261963291/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - India Focus Fund	549300H5IORI7FHCNE34

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 20% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 20% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund aims to invest:
- A minimum of 50% of its assets in securities of issuers with favourable ESG characteristics,
- A minimum of 20% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1805238398/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Emerging Markets Ex China Fund	2549006CNXYVDUHGWH71

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 15% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the MSCI Emerging Markets ex China Index (the "Index") (for the purpose of this calculation), after the exclusion of 20% of the assets with the lowest ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics; and
- a minimum of 15% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

The fund assesses the ESG characteristics of at least 90% of its assets. The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the Index (as defined above), after the exclusion of 20% of the assets with the lowest ESG ratings.
In addition, the fund will systematically apply the Exclusions, as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies and Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 15% of its assets in sustainable investments (#1A sustainable)* of which aminimum 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2546391173/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Emerging Markets Equity Fund	222100CGA9DFT3O9JH40

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 15% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the MSCI Emerging Markets Index (the "Index") (for the purpose of this calculation), after the exclusion of 20% of the assets with the lowest ESG ratings.
Within this investment universe, the Investment Manager selects stocks through rigorous bottom-up financial analysis and valuation to select stocks with strong investment return potential.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 15% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

The fund assesses the ESG characteristics of at least 90% of its assets. The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the Index (as defined above), after the exclusion of 20% of the assets with the lowest ESG ratings.
In addition, the fund will systematically apply the Exclusions to direct investments as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 15% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 5% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 5% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1102505929/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Flexible Bond Fund	Y5GJXJ4DKJON310L3I87

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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
- with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1345485095/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global Bond Fund	GQ0BF6O9W3C24RB7AC25

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 2.5% 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
- with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 2.5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 2.5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0261946288/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global Corporate Bond Fund	E1PSUJKP1HSFQL89GJ11

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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 - with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 5% in sustainable investments of which a minimum of 0.5% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0.5% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0.5% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0532243267/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global Hybrids Bond Fund	549300BKJXZO8Z8K9S85

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 5% in sustainable investments of which a minimum of 0.5% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0.5% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0.5% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2207557542/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global High Yield Fund	549300HLL9VXER4ESF55

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework (fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0740037022/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global Income Fund	549300Y91PT1E5IZKI34

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0882574303/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global Inflation-linked Bond Fund	78VTRQN40UWE9NYCJW22

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | - 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 % 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
	- with a social objectiveIt promotes E/S characteristics, but will not make any sustainable investments

 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework; and
- the percentage of the fund invested in securities of corporate issuers with exposure to the Exclusions (as defined below).

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?
This question is not applicable as the fund does not intend to make sustainable investments.
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?
This question is not applicable as the fund does not intend to make sustainable investments.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
This question is not applicable.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
This question is not applicable.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest a minimum of 50% of its assets in issuers with favourable ESG characteristics.
In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
This question is not applicable as the fund does not intend to make sustainable investments.
What is the minimum share of socially sustainable investments?
This question is not applicable as the fund does not intend to make sustainable investments.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0353648891/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global Short Duration Income Fund	549300DE58GK4SNQH841

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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
- with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0766124712/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Climate Bond Fund	549300L1AKMJ4PE06T04

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 10% 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 - with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings.
The fund adopts a sustainable thematic strategy and focuses on the management of climate related risks. The strategy aims to favour issuers with the lowest carbon profiles within their sectors, encouraging a transition towards a greener environment through the selection of issuers on an improving carbon transition path, and investing in carefully selected green bond issuers. The strategy aims to be proactive in dealing with climate change through continual engagement with global corporate bond issuers.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities that qualify as environmentally sustainable under the EU Taxonomy; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, minimum safeguards and good governance criteria is met.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity has developed a quantitative scorecard that identifies entities with challenging performance on PAI indicators.
Entities with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements, or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund employs a primarily ‘thematic’ investment strategy to achieve its investment objectives, which includes investing in economic themes that are expected to contribute to a sustainable economy. In addition to theme selection, fundamental research is conducted on individual securities. As part of the research process, environmental and social governance are considered. The factors considered relevant will vary between different companies and industries and are integrated into investment decisions.
The strategy aims to favour issuers with the lowest carbon profiles within their sectors, encouraging a transition towards a greener environment through the selection of issuers on an improving carbon transition path, and investing in carefully selected green bond issuers. The strategy of the fund aims to be proactive in dealing with climate change through continual engagement with global corporate bond issuers.
The fund is part of the Fidelity Sustainable Family of funds pursuant to which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
A minimum of 90% of the fund’s assets will be analysed as to whether they maintain favourable ESG characteristics.
The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe as represented by the Bloomberg Global Aggregate Corporate Index (for the purpose of this calculation), after the exclusion of 20% of the assets with the lowest ESG ratings.
The fund will aim to have a lower carbon footprint compared to that of the broader market. In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics;
- a minimum of 10% in sustainable investments of which 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

The fund assesses the ESG characteristics of at least 90% of its assets. The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the Index (as defined above), after the exclusion of 20% of the assets with the lowest ESG ratings.
In addition, the fund will systematically apply the Exclusions, as described above, to all direct investments.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity ESG ratings data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 10% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 1% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
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.

Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2111945882/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Strategic Bond Fund	RL7DB442ZD11XPI58I79

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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
- with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics; and
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

In addition, the fund will systematically apply the Exclusions, as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies and Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0594300849/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable US High Yield Fund	549300WZ0K4FU7Y35T18

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe as represented by the ICE B0fA US High Yield Constrained Index (for the purpose of this calculation), after the exclusion of 20% of the assets with the lowest ESG ratings.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics; and
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

The fund assesses the ESG characteristics of at least 90% of its assets. The average ESG rating of the fund will exceed the average ESG rating of the fund’s investment universe, as represented by the Index (as defined above), after the exclusion of 20% of the assets with the lowest ESG ratings.
In addition, the fund will systematically apply the Exclusions, as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies and Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1668667667/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - US Dollar Bond Fund	757QSNCIZ38KH0VOQ986

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 2.5% 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
- with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets  their  fundamental  responsibilities  in the areas  of  human  rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 2.5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 2.5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0261947682/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Euro Bond Fund	5493001EOTLEJOW4P129

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 2.5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 2.5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 2.5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0251130638/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Euro Corporate Bond Fund	549300HVFD74DI2L1428

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0370787193/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - European High Yield Fund	QRZDLZXRZFWQ9BAHI598

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 2.5% 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
- with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy).

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 2.5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 2.5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 0% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 0% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0251130802/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Euro Short Term Bond Fund	3NMLOFBNMWJ7JPIH6S89

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0267388220/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Structured Credit Income Fund	254900PSXCPD7UYZ5904

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | - 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 % 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
	- with a social objectiveIt promotes E/S characteristics, but will not make any sustainable investments

 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework; and
- the percentage of the fund invested in securities of corporate issuers with exposure to the Exclusions (as defined below).

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?
This question is not applicable as the fund does not intend to make sustainable investments.
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?
This question is not applicable as the fund does not intend to make sustainable investments.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
This question is not applicable.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
This question is not applicable.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest a minimum of 50% of its assets in issuers with favourable ESG characteristics.
In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
This question is not applicable as the fund does not intend to make sustainable investments.
What is the minimum share of socially sustainable investments?
This question is not applicable as the fund does not intend to make sustainable investments.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2495143062/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Asian Bond Fund	25490016JMCH6V9O7111

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 10% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
The fund aims to have a lower carbon footprint compared to that of the J.P. Morgan Asia Credit Index.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics; and
- a minimum of 10% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions, as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies and Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 10% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2386144906/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - China RMB Bond Fund	5493005X6HEWY2HZVZ41

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0740036131/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Emerging Market Corporate Debt Fund	549300CUU5R1E8GYA005

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as a performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based exclusions (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including entities that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework (fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics;
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0900495697/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Emerging Market Debt Fund	549300JD9HLR74D69D63

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | - 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 % 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
	- with a social objectiveIt promotes E/S characteristics, but will not make any sustainable investments

 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework; and
- the percentage of the fund invested in securities of corporate issuers with exposure to the Exclusions (as defined below).

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?
This question is not applicable as the fund does not intend to make sustainable investments.
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?
This question is not applicable as the fund does not intend to make sustainable investments.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
This question is not applicable.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
This question is not applicable.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest a minimum of 50% of its assets in issuers with favourable ESG characteristics.
In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
This question is not applicable as the fund does not intend to make sustainable investments.
What is the minimum share of socially sustainable investments?
This question is not applicable as the fund does not intend to make sustainable investments.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0238205289/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Emerging Market Local Currency Debt Fund	54930069WRF2L8MHEJ66

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | - 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 % 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
	- with a social objectiveIt promotes E/S characteristics, but will not make any sustainable investments

 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework; and
- the percentage of the fund invested in securities of corporate issuers with exposure to the Exclusions (as defined below).

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?
This question is not applicable as the fund does not intend to make sustainable investments.
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?
This question is not applicable as the fund does not intend to make sustainable investments.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
This question is not applicable.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
This question is not applicable.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest a minimum of 50% of its assets in issuers with favourable ESG characteristics.
In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
This question is not applicable as the fund does not intend to make sustainable investments.
What is the minimum share of socially sustainable investments?
This question is not applicable as the fund does not intend to make sustainable investments.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2219351280/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Emerging Market Total Return Debt Fund	549300KHEVIR0ORYSU77

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | - 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 % 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
	- with a social objectiveIt promotes E/S characteristics, but will not make any sustainable investments

 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework; and
- the percentage of the fund invested in securities of corporate issuers with exposure to the Exclusions (as defined below).

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?
This question is not applicable as the fund does not intend to make sustainable investments.
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?
This question is not applicable as the fund does not intend to make sustainable investments.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
This question is not applicable.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
This question is not applicable.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
In respect of its direct investment in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC.

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest a minimum of 50% of its assets in issuers with favourable ESG characteristics.
In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies or Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
This question is not applicable as the fund does not intend to make sustainable investments.
What is the minimum share of socially sustainable investments?
This question is not applicable as the fund does not intend to make sustainable investments.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund will be invested in assets aligned with the financial objective of the fund, cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1830996044/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Emerging Market Debt Fund	254900MTI4B5RXM4H295

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 5% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below);
- the percentage of the fund invested in sustainable investments;
- the percentage of the fund invested in sustainable investments with an environmental objective in economic activities (that do not qualify as environmentally sustainable under the EU Taxonomy); and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as an investment in securities of:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as for performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s norms based screens (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation to identify issuers with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversityand engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework (fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics; and
- a minimum of 5% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions, as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies and Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 5% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 1% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 1% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU2546725644/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - European Multi Asset Income Fund	549300P3VQEECSQRUQ90

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 2% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screening (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Fidelity’s Multi Asset Research team aim to understand an individual manager’s approach to ESG by evaluating how far ESG considerations are integrated within the investment process and philosophy, the analyst’s financial analysis and the composition of the portfolio. They consider how ESG factors are integrated into the investment policy of the strategy, and, where proprietary ratings are used, how ESG research and output is evidenced in individual security weights and any applicable engagement and exclusion policies. The team consults a range of data sources, including Fidelity Sustainability Ratings as well as third-party data, in order to assess the ESG metrics of the relevant strategies.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms (as set out above).

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 2% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity Sustainability Ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 2% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund which are not aligned with the favourable ESG characteristics, will be invested in accordance with the financial investment objective of the fund, or cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As minimum environmental and social safeguard, all direct investments in corporate issuers will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0261950553/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Global Multi Asset Income Fund	549300ISMCTFO21OMK36

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 2% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments in corporate issuers, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screening (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
A minimum of 50% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Fidelity’s Multi Asset Research team aim to understand an individual manager’s approach to ESG by evaluating how far ESG considerations are integrated within the investment process and philosophy, the analyst’s financial analysis and the composition of the portfolio. They consider how ESG factors are integrated into the investment policy of the strategy, and, where proprietary ratings are used, how ESG research and output is evidenced in individual security weights and any applicable engagement and exclusion policies. The team consults a range of data sources, including Fidelity Sustainability Ratings as well as third-party data, in order to assess the ESG metrics of the relevant strategies.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms (as set out above).

The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 50% of its assets in issuers with favourable ESG characteristics,
- a minimum of 2% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity Sustainability Ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 50% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 2% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund which are not aligned with the favourable ESG characteristics, will be invested in accordance with the financial investment objective of the fund, or cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As minimum environmental and social safeguard, all direct investments in corporate issuers will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU1116430247/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Multi Asset Income Fund	549300GG6X1NDTLYIF66

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | 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 3% 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with a social objective
- It promotes E/S characteristics, but will not make any sustainable investments
 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
The fund partially intends to make sustainable investments.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers with favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework;
- in respect of its direct investments, the percentage of the fund invested in securities of issuers with exposure to the Exclusions (defined below);
- the percentage of the fund invested in sustainable investments; and
- the percentage of the fund invested in sustainable investments with a social objective.

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?
The fund determines a sustainable investment as follows:
- issuers that undertake economic activities that contribute to one or more of the environmental objectives set out in the EU Taxonomy and qualify as environmentally sustainable in accordance with EU Taxonomy; or
- issuers whereby the majority of their business activities (more than 50% of revenue) contribute to environmental or social objectives aligned with one or more of the United Nations Sustainable Development Goals (“SDGs”); or
- issuers which have set a decarbonisation target consistent with a 1.5 degree warming scenario or lower (verified by the Science Based Target Initiative or a Fidelity Proprietary Climate Rating) which would be considered to contribute to environmental objectives;provided they do no significant harm, meet minimum safeguards and good governance criteria.

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?
Sustainable investments are screened for involvement in activities that cause significant harm and controversies, assessed through a check that the issuer meets minimum safeguards and standards that relate to principal adverse impacts (PAIs) as well as performance on PAI metrics. This includes:
Norms-based screens - the screening out of securities identified under Fidelity’s existing norms-based screening (as set out below);
Activity-based screens - the screening out of issuers based on their participation in activities with significant negative impacts on society or the environment, including issuers that are considered to have a ‘Very Severe’ controversy using controversy screens, covering 1) environmental issues, 2) human rights and communities, 3) labour rights and supply chain, 4) customers, 5) governance; and
PAI indicators - quantitative data (where available) on PAI indicators is used to evaluate whether an issuer is involved in activities that cause significant harm to any environmental or social objective.
How have the indicators for adverse impacts on sustainability factors been taken into account?
For sustainable investments, as set out above, Fidelity undertakes a quantitative evaluation that identifies entities with challenging performance on PAI indicators. Issuers with a low score will be ineligible to be ‘sustainable investments’ unless Fidelity’s fundamental research determines that the issuer is not breaching “do no significant harm” requirements or is on the path to mitigate the adverse impacts through effective management or transition.
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.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
Norms-based screens are applied: Issuers identified as failing to behave in a way which meets their fundamental responsibilities in the areas of human rights, labour, environmental and anti-corruption as aligned with international norms including those set out by the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights, UN Global Compact (UNGC), ILO Standards International Labour Organisation (ILO) Conventions, are not considered sustainable investments.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Fidelity’s Multi Asset Research team aim to understand an individual manager’s approach to ESG by evaluating how far ESG considerations are integrated within the investment process and philosophy, the analyst’s financial analysis and the composition of the portfolio. They consider how ESG factors are integrated into the investment policy of the strategy, and, where proprietary ratings are used, how ESG research and output is evidenced in individual security weights and any applicable engagement and exclusion policies. The team consults a range of data sources, including Fidelity Sustainability Ratings as well as third-party data, in order to assess the ESG metrics of the relevant strategies.
In respect of its direct investments in corporate issuers, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines, and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest:
- a minimum of 70% of its assets in issuers with favourable ESG characteristics,
- a minimum of 3% in sustainable investments of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

In addition, the fund will systematically apply the Exclusions as described above.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including Fidelity Sustainability Ratings, data regarding controversies and UN Global Compact violations.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest:
- a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics;
- a minimum of 3% of its assets in sustainable investments (#1A sustainable)* of which a minimum of 0% have an environmental objective (which is aligned with the EU Taxonomy), a minimum of 0% have an environmental objective (which is not aligned with the EU Taxonomy) and a minimum of 1% have a social objective.

(#1B Other E/S characteristics) Includes securities of issuers with favourable ESG characteristics but are not sustainable investments.
*Fidelity determines the minimum overall percentage of sustainable investments on the basis of including issuers, as described above, whereby more than 50% of revenue contributes to a sustainable investment objective.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective that is not aligned with the EU Taxonomy.
Investments could be aligned with the EU Taxonomy but the Investment Manager is not currently in a position to specify the exact proportion of the fund’s underlying investments which take into account the EU criteria for environmentally sustainable economic activities. However, the position will be kept under review as the underlying rules are finalised and the availability of reliable data increases over time.
What is the minimum share of socially sustainable investments?
The fund invests a minimum of 1% in sustainable investments with a social objective.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund which are not aligned with the favourable ESG characteristics, will be invested in accordance with the financial investment objective of the fund, or cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As minimum environmental and social safeguard, all direct investments in corporate issuers will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0138981039/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable Euro Cash Fund	549300JLOE1H4LO06859

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | - 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 % 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
	- with a social objectiveIt promotes E/S characteristics, but will not make any sustainable investments

 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework; and
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below).

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?
This question is not applicable as the fund does not intend to make sustainable investments.
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?
This question is not applicable as the fund does not intend to make sustainable investments.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
This question is not applicable.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
This question is not applicable.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework(fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest a minimum of 70% of its assets in issuers with favourable ESG characteristics.
In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies and Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
This question is not applicable as the fund does not intend to make sustainable investments.
What is the minimum share of socially sustainable investments?
This question is not applicable as the fund does not intend to make sustainable investments.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0261953490/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).
Pre-contractual disclosure for the financial products referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852
Product name:	Legal entity identifier:
Fidelity Funds - Sustainable US Dollar Cash Fund	549300VCV3WGOB2T4874

##### Environmental and/or social characteristics
|  | - Yes
 |  | No |
| --- | --- | --- | --- |
| - It will make a minimum of sustainable investments with an environmental objective: %
	- in economic activities that qualify as environmentally sustainable under the EU Taxonomy
	- in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy

- It will make a minimum of sustainable investments with a social objective:%
 | - 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 % 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
	- with a social objectiveIt promotes E/S characteristics, but will not make any sustainable investments

 |

What environmental and/or social characteristics are promoted by this financial product?
Sustainability indicators measure how the environmental or social characteristics promoted by the financial product are attained.
The fund promotes environmental and social characteristics by investing in securities of issuers with favourable ESG characteristics. Favourable ESG characteristics are determined by reference to ESG ratings. ESG ratings consider environmental characteristics including carbon intensity, carbon emissions, energy efficiency, water and waste management and biodiversity, as well as social characteristics including product safety, supply chain, health and safety and human rights.
No reference benchmark has been designated for the purpose of attaining the environmental and social characteristics promoted.
What sustainability indicators are used to measure the attainment of each of the environmental or social characteristics promoted by this financial product?
The fund uses the following sustainability indicators in order to measure the attainment of the environmental or social characteristics that it promotes:
- the percentage of the fund invested in securities of issuers having favourable ESG characteristics in accordance with Fidelity’s Sustainable Investing Framework; and
- the percentage of the fund invested in securities of issuers with exposure to the Exclusions (as defined below).

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?
This question is not applicable as the fund does not intend to make sustainable investments.
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?
This question is not applicable as the fund does not intend to make sustainable investments.
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.
How have the indicators for adverse impacts on sustainability factors been taken into account?
This question is not applicable.
How are the sustainable investments aligned with the OECD Guidelines for Multinational Enterprises and the UN Guiding Principles on Business and Human Rights? Details:
This question is not applicable.
The EU Taxonomy sets out a “do not significant harm” principle by which Taxonomy-aligned investments should not significantly harm EU Taxonomy objectives and is accompanied by specific EU criteria.
The “do no significant harm” principle applies only to those investments underlying the financial product that take into account the EU criteria for environmentally sustainable economic activities. The investments underlying the remaining portion of this financial product do not take into account the EU criteria for environmentally sustainable economic activities.
Any other sustainable investments must also not significantly harm any environmental or social objectives.

#####  Does this financial product consider principal adverse impacts on sustainability factors?
Yes
- NoConsideration of the principal adverse impacts on sustainability factors of investment decisions (referred to as principal adverse impacts) is incorporated through a variety of tools, including:
- Due Diligence - analysis of whether impacts on sustainability factors are material and negative.
- ESG rating - Fidelity references ESG ratings which incorporate consideration of material principal adverse impacts such as carbon emissions, employee safety and bribery and corruption, water management and, for sovereign issued securities, ratings used incorporate consideration of material principal adverse impacts such as carbon emissions, social violations and freedom of expression.
- Exclusions - When investing directly in corporate issuers, the fund applies the Exclusions (as defined below) to help mitigate the principal adverse impacts through excluding harmful sectors and prohibiting investment in issuers that breach international standards, such as the UNGC.
- Engagement - Fidelity uses engagement as a tool to better understand principal adverse impacts and, in some circumstances, advocate for mitigating the principal adverse impacts. Fidelity participates in relevant individual and collaborative engagements that target a number of principal adverse impacts (i.e. Climate Action 100+, Investors Against Slavery and Trafficking APAC).
- Voting - Fidelity’s voting policy includes explicit minimum standards for board gender diversity and engagement with climate change for corporate issuers. Fidelity may also vote to help mitigate principal adverse impacts.
- Quarterly reviews - monitoring of principal adverse impacts through the fund’s quarterly review process.

Fidelity takes into account specific indicators for each sustainability factor when considering whether investments have a principal adverse impact. These indicators are subject to data availability and may evolve with improving data quality and availability. In certain circumstances, such as indirect investments made by the fund, principal adverse impacts may not be considered.
Information on principal adverse impacts will be available in the annual report of the fund.

##### What investment strategy does this financial product follow?
The investment strategy guides investment decisions based on factors such as investments objectives and risk tolerance.
The fund is part of the Fidelity Sustainable Family of funds and adopts a Sustainable Focused strategy under which a minimum of 70% of the fund’s assets will be invested in securities with favourable ESG characteristics.
Favourable ESG characteristics are determined by reference to ESG ratings provided by external agencies and Fidelity ESG ratings.
Issuers that are not assessed as having favourable ESG characteristics for the purposes of the primary objective (minimum 70% of assets) are eligible for inclusion, with up to 30% of assets, provided they are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics.
In respect of its direct investments, the fund is subject to:
- a firm-wide exclusions list, which includes cluster munitions and anti-personnel landmines; and
- a principle-based screening policy which includes:
	- norms-based screening of issuers which the Investment Manager considers have failed to conduct their business in accordance with international norms, including as set out in the UNGC; and
	- negative screening of certain sectors, issuers or practices based on specific ESG criteria where revenue thresholds may be applied.


The above exclusions and screens (the “Exclusions”) may be updated from time to time. Please refer to the website for further information Sustainable investing framework (fidelityinternational.com).
The Investment Manager also has discretion to implement enhanced, stricter sustainable requirements and exclusions from time to time.
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?
The fund will invest a minimum of 70% of its assets in issuers with favourable ESG characteristics.
In addition, the fund will apply the Exclusions, as described above, to all direct investments in corporate issuers.
What is the committed minimum rate to reduce the scope of the investments considered prior to the application of that investment strategy?
This question is not applicable.
Good governance practices include sound management structures, employee relations, remuneration of staff and tax compliance.
What is the policy to assess good governance practices of the investee companies?
The governance practices of issuers are assessed using fundamental research, including as part of the ESG ratings provided by external agencies and Fidelity ESG ratings.
Key points that are analysed include track record of capital allocation, financial transparency, related party transactions, board independence and size, executive pay, auditors and internal oversight, minority shareholder rights, among other indicators. For sovereign issuers, factors such as corruption and freedom of expression are included.

##### What is the asset allocation planned for this financial product?
Asset allocation describes the share of investments in specific assets.
(#1 Aligned with E/S characteristics) The fund will invest a minimum of 70% of its assets in securities of issuers with favourable ESG characteristics.
How does the use of derivatives attain the environmental or social characteristics promoted by the financial product?
Where the security underlying a derivative has favourable ESG characteristics in accordance with Fidelity's Sustainable Investing Framework, the derivative may be included in determining the proportion of the fund dedicated to promotion of environmental or social characteristics.
To what minimum extent are sustainable investments with an environmental objective aligned with the EU Taxonomy?
The fund invests a minimum of 0% in sustainable investments with an environmental objective aligned with the EU Taxonomy.
The compliance of the investments of the fund with the EU Taxonomy will not be subject to an assurance by auditors or a review by third parties.
The EU taxonomy alignment of the underlying investments of the fund is measured by turnover.
What is the minimum share of investments in transitional and enabling activities?
The fund invests a minimum of 0% in transitional activities and a minimum of 0% in enabling activities.
What is the minimum share of sustainable investments with an environmental objective that are not aligned with the EU Taxonomy?
This question is not applicable as the fund does not intend to make sustainable investments.
What is the minimum share of socially sustainable investments?
This question is not applicable as the fund does not intend to make sustainable investments.
What investments are included under “#2 Other”, what is their purpose and are there any minimum environmental or social safeguards?
The remaining investments of the fund may be invested in securities of issuers that are able to demonstrate that they are on an improving trajectory with respect to their ESG characteristics, as well as cash and cash equivalents for liquidity purposes and derivatives which may be used for investment and efficient portfolio management.
As a minimum environmental and social safeguard, the fund will adhere to the Exclusions.
Reference benchmarks are indexes to measure whether the financial product attains the environmental or social characteristics that they promote.

##### 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?
An index has not been designated as a reference benchmark to determine whether this financial product is aligned with the environmental or social characteristics that it promotes.
How is the reference benchmark continuously aligned with each of the environmental or social characteristics promoted by the financial product?
This question is not applicable.
How is the alignment of the investment strategy with the methodology of the index ensured on a continuous basis?
This question is not applicable.
How does the designated index differ from a relevant broad market index?
This question is not applicable.
Where can the methodology used for the calculation of the designated index be found?
This question is not applicable.

##### Where can I find more product specific information online?
More product-specific information can be found on the website: https:/www.fidelity.lu/funds/factsheet/LU0261952922/tab-disclosure#SFDR-disclosure. 
Further information on the methodologies set out herein is available on the website: Sustainable investing framework (fidelityinternational.com).

Translation (ENFR, 2022-12-30):
# Gestion et gouvernance
### La SICAV
Nom et siège social
Fidelity Funds
2a Rue Albert Borschette, BP 2174 L-1246 Luxembourg
Site Web fidelityinternational.com
Forme juridique Société d’investissement à capital variable (SICAV)
Juridiction légale Luxembourg Constitution Le 15 juin 1990 Durée Indéfinie
Statuts Première publication dans le 
Mémorial, Recueil spécial des sociétés et associations 
le 21 août 1990 ; derniers amendements publiés dans le 
Mémorial 
le 3 avril 2019
Autorité réglementaire
Commission de surveillance du secteur financier (CSSF) 283, route d’Arlon, L-1150 Luxembourg
Numéro d’immatriculation (registre du commerce et des sociétés du Luxembourg) 34 036
Exercice financier Du 1er mai au 30 avril
Capital Somme des actifs nets de tous les Compartiments
Capital minimum 1 250 000 EUR ou la contre-valeur dans une autre devise
Valeur nominale des actions Aucune

###### Forme et droit applicable
La SICAV répond à la définition d’un OPCVM selon la Partie 1 de la Loi de 2010 et est immatriculée auprès de la CSSF. L’immatriculation auprès de la CSSF ne constitue pas une approbation ou une déclaration quelconque concernant l’adéquation ou l’exactitude d’un prospectus. La SICAV fonctionne comme un « fonds à Compartiments » au titre duquel elle crée et exploite des Compartiments. L’actif et le passif de chaque Compartiment sont séparés de ceux des autres Compartiments ; il n’existe aucune responsabilité croisée, et le créancier d’un Compartiment ne dispose d’aucun recours par rapport aux actifs d’un autre Compartiment.
Les litiges qui surviennent entre les actionnaires, la Société de gestion et le dépositaire seront réglés selon la loi luxembourgeoise et soumis à la juridiction du tribunal d’arrondissement de Luxembourg. Toutefois, concernant les litiges impliquant les investisseurs qui résident dans d’autres pays ou des transactions en actions survenant dans d’autres pays, la Société de gestion ou le dépositaire peut choisir de se soumettre, ainsi que la SICAV, à la juridiction des tribunaux ou des lois de ces pays. Pour déposer une réclamation, contactez le service de conformité de la Société de gestion (cf. coordonnées à la page 3).
La capacité d’un actionnaire à déposer une plainte contre la SICAV expire 5 ans après l’événement à l’origine de la plainte.

###### Le Conseil
Anne Richards, CVO, CBE (Présidente)
PDG, FIL
Royaume-Uni
Dr. Yousef A. Al-Awadi, KBE (administrateur indépendant)
Koweït
Didier Cherpitel (administrateur indépendant)
Suisse
Carine Feipel (administratrice indépendante)
Luxembourg
Abby Johnson
Présidente et Directrice générale, FMR LLC ; présidente, FMR Co.; présidente, FIL
États-Unis
Glen Moreno (administrateur indépendant)
États-Unis
Jon Skillman (administrateur indépendant)
Luxembourg
FIL (Luxembourg) S.A.
Représenté par Nishith Gandhi
Le Conseil est chargé de la politique d’investissement globale, des objectifs et de la gestion de la SICAV et des Compartiments et, comme indiqué de manière plus complète dans les statuts, il dispose de pouvoirs étendus pour agir au nom de la SICAV et des Compartiments, y compris de :
- nommer et superviser la Société de gestion ;
- définir la politique d’investissement et approuver la nomination de tout Gérant de Portefeuille, Sous-gérant de portefeuille ou conseiller en placements ;
- prendre toutes les décisions concernant le lancement, la modification, la fusion, la scission, la dissolution ou la liquidation des Compartiments et des catégories d’actions, y compris des questions comme les dates, les prix, les frais, la politique de distribution et le paiement des dividendes, la liquidation de la SICAV et autres conditions ;
- établir les exigences d’éligibilité et les restrictions de propriété pour les investisseurs d’un Compartiment ou d’une catégorie d’actions, et les étapes qui peuvent être prises en cas de violation ;
- déterminer la disponibilité d’une catégorie d’actions pour un investisseur ou un distributeur ou dans une juridiction ;
- déterminer quand et comment la SICAV exercera ses droits et distribuera ou publiera les communications aux actionnaires ;
- s’assurer que les nominations de la Société de gestion et du dépositaire sont compatibles avec la Loi de 2010 et tous les contrats applicables de la SICAV ;
- déterminer si les actions doivent être cotées sur la Bourse de Luxembourg (ce qui est actuellement le cas de certaines actions) ou sur d’autres bourses.

Le Conseil a délégué la gestion quotidienne de la SICAV et de ses Compartiments à la Société de gestion, qui a délégué à son tour une partie ou la totalité de ses fonctions à différents Gérants de Portefeuille et autres prestataires de services, soumis à son contrôle et sa supervision.
Le Conseil est responsable des informations contenues dans le prospectus et a pris toutes les mesures raisonnables pour veiller à ce qu’elles soient majoritairement exactes, complètes et n’induisent pas en erreur. Le prospectus sera mis à jour au besoin lorsque des Compartiments seront ajoutés ou liquidés ou lors de toute autre modification importante.
Les administrateurs sont en poste jusqu’à la fin de leur mandat, ou s’ils démissionnent ou sont révoqués en accord avec les Statuts. Tous les administrateurs supplémentaires seront nommés conformément aux Statuts et à la loi luxembourgeoise. Des administrateurs indépendants (administrateurs non employés par une entité du Groupe FIL) ont le droit à une rémunération pour avoir fait partie du Conseil et au remboursement de leurs dépenses liées à leurs services d’administrateurs.
La SICAV indemnise ses Administrateurs pour tous engagements ou dépenses relatifs à une réclamation introduite à leur encontre au motif qu’ils aient eu la qualité d’Administrateur ou de dirigeant, à condition qu’aucune indemnisation ne soit accordée pour toute responsabilité à l’égard de la SICAV ou de ses actionnaires, en raison d’abus de pouvoir volontaire, de mauvaise foi, de négligence ou d’imprudence dans l’exercice de leurs fonctions, ou en ce qui concerne toute affaire dans laquelle il est finalement prouvé qu’ils n’ont pas agi de bonne foi et au mieux des intérêts de la SICAV.

###### Sociétés professionnelles engagées par la SICAV
La Société de gestion et les différentes sociétés professionnelles ont été engagées par la SICAV par le biais de contrats de service pour une durée indéterminée. La SICAV peut résilier un de ces contrats de service avec effet immédiat si elle détermine qu’une telle décision est dans l’intérêt des actionnaires. Dans le cas contraire, le titulaire de l’un de ces contrats de service peut démissionner ou être remplacé par la SICAV (moyennant un préavis de 90 jours dans le cas du dépositaire). Indépendamment des circonstances de la résiliation, toute entité professionnelle doit coopérer pleinement à la transition de ses fonctions, conformément à son contrat de service, à ses obligations en vertu de la loi et aux instructions du Conseil.
Société de gestion
Consultez la section « La Société de gestion » à la page 63.
Dépositaire
Brown Brothers Harriman (Luxembourg) S.C.A.
80, Route d’Esch
L-1470 Luxembourg
Le dépositaire fournit plusieurs services, notamment :
- garder les actifs de la SICAV (les actifs qui peuvent être détenus en garde et la vérification de la propriété et la tenue des registres des autres actifs) ;
- remplir des fonctions de supervision pour s’assurer que les activités définies dans la convention du dépositaire sont menées conformément aux instructions du Conseil et, surtout, à la Loi de 2010 et aux Statuts ; ces activités incluent le calcul de la VL, l’émission des actions dans les Compartiments et la réception et l’affectation des résultats et revenus à chaque Compartiment et classe d’actions, entre autres ;
- surveiller le flux de trésorerie.

Le dépositaire doit faire preuve de diligence raisonnable dans l’exercice de ses fonctions et il est responsable vis-à-vis de la SICAV et des actionnaires de toute perte résultant de l’inexécution de ses obligations, telles qu’elles sont définies dans la convention du dépositaire.
Il peut confier une partie ou la totalité des actifs de la SICAV à des établissements financiers tiers (comme des banques ou des chambres de compensation), mais cela n’affecte pas sa responsabilité. Les frais de tout délégué tiers nommé par le Dépositaire sont payés par la SICAV.
Des informations à jour sur les sous-dépositaires sont disponibles sur bbh.com/luxglobalcustodynetworklist.
Lorsque la loi d’un pays tiers exige que certains investissements soient détenus en garde par une entité locale, mais qu’aucune entité locale ne satisfait à l’exigence de délégation, le dépositaire peut néanmoins déléguer ses responsabilités à une entité locale, dans la mesure où la SICAV a informé les investisseurs et a donné des instructions appropriées au dépositaire.
Le dépositaire n’est pas autorisé à exercer des activités à l’égard de la SICAV qui peuvent créer des conflits d’intérêts entre la SICAV, les actionnaires et le dépositaire lui-même (y compris ses prestataires de services), à moins qu’il n’ait identifié correctement ces conflits d’intérêts potentiels, qu’il ait séparé de manière fonctionnelle et hiérarchique l’exécution de ses tâches de dépositaire de ses autres tâches potentiellement conflictuelles, et que les conflits d’intérêts potentiels soient correctement identifiés, gérés, surveillés et déclarés à la SICAV et à ses actionnaires. La politique relative aux conflits d’intérêts du dépositaire est disponible gratuitement et sur demande auprès du dépositaire.
Agents prêteurs
Brown Brothers Harriman & Co.
Boston, Massachusetts
Citibank N.A. Succursale londonienne
Londres, R.-U.
Les agents prêteurs exécutent des transactions de prêt de titres et gèrent la garantie associée. Aucun agent prêteur n’est affilié au Gérant de Portefeuille.
Réviseur d’entreprises
Deloitte Audit S.à r.l.
20, Boulevard de Kockelscheuer L-1821 Luxembourg
Une fois par an, le réviseur d’entreprises procède à un examen indépendant des états financiers de la SICAV et de tous les Compartiments. Le réviseur d’entreprises vérifie également tous les calculs des commissions de performance. Sa nomination doit être approuvée par les actionnaires lors de chaque assemblée générale annuelle.

###### Assemblées des actionnaires et votes
Chaque année, l’assemblée générale annuelle se tient en général au Luxembourg, le premier jeudi d’octobre à midi (HEC) ou, si ce jour n’est pas un jour ouvrable au Luxembourg, le jour ouvrable suivant. Dans la mesure prévue par la loi luxembourgeoise, le Conseil peut choisir d’organiser l’assemblée générale annuelle à une heure, un jour ou dans un lieu différent. D’autres assemblées des actionnaires peuvent être organisées dans d’autres lieux et à d’autres dates/heures. Toutes les assemblées sont soumises à approbation et notification.
Une convocation écrite à l’assemblée générale annuelle est envoyée aux actionnaires tel qu’exigé par la loi luxembourgeoise et les Statuts.
Les résolutions relatives aux intérêts de tous les actionnaires sont en général prises lors d’une assemblée générale. Les actionnaires d’un Compartiment peuvent convoquer une assemblée générale afin de statuer sur une question associée exclusivement à ce Compartiment.
Le droit d’un actionnaire à assister à une assemblée générale des actionnaires et à exercer les droits de vote rattachés à ses actions est établi en référence aux actions que cet actionnaire détient à la date d’enregistrement
. 
Pour plus d’informations sur l’admission et le vote à une assemblée, consultez la convocation appropriée.

###### Liquidation ou fusion
Toute décision du Conseil de résilier, fusionner, scinder ou liquider une catégorie d’actions, un Compartiment ou la SICAV sera transmise aux actionnaires conformément à la loi luxembourgeoise ; consultez la section « Avis, publications et autres informations ».
Liquidation de la SICAV, d’un Compartiment ou d’une catégorie d’actions
Le Conseil peut décider de liquider ou de diviser un Compartiment ou une catégorie d’actions en deux ou plusieurs Compartiments ou catégories d’actions si :
- la valeur des actifs de la catégorie ou du Compartiment est passée sous 50 millions de dollars US ;
- le Conseil estime que cette décision est justifiée par un changement de la situation économique ou politique associée au Compartiment ou à la catégorie, ou que l’intérêt des actionnaires la justifie.

La décision de la liquidation sera publiée ou notifiée aux actionnaires du Compartiment concerné avant la date d’entrée en vigueur de la liquidation, et la publication ou la notification indiquera les motifs et les procédures de la liquidation. À moins que le Conseil n’en décide autrement dans l’intérêt des actionnaires, ou dans le but de maintenir le principe d’égalité de traitement entre les actionnaires, les actionnaires du Compartiment ou de la catégorie d’actions concerné(e) peuvent continuer à demander le rachat ou l’arbitrage de leurs actions.
Dans toute autre circonstance ou si le Conseil détermine que la décision devrait être soumise à l’approbation des actionnaires, la décision de liquider un Compartiment ou une catégorie d’Actions peut être prise lors d’une assemblée des actionnaires du Compartiment ou de la catégorie d’Actions à liquider. Lors de cette assemblée, aucun quorum ne sera requis et la décision de liquider sera prise à la majorité simple des votes exprimés. La décision de l’assemblée sera notifiée et/ou publiée par la SICAV conformément aux lois et réglementations en vigueur.
Le Conseil peut également, dans les circonstances énoncées au premier paragraphe ci-dessus, décider de réorganiser un Compartiment au moyen d’une division en deux ou plusieurs Compartiments distincts ou de consolider ou de diviser une catégorie d’actions d’un Compartiment. Dans la mesure exigée par la loi luxembourgeoise, une telle décision sera publiée ou notifiée, le cas échéant, de même manière que celle décrite au premier paragraphe de cette section. Le Conseil peut également décider de soumettre la question de la consolidation ou de la division d’une catégorie d’Actions lors d’une assemblée des actionnaires de cette catégorie. Aucun quorum n’est requis lors de cette assemblée et les décisions sont prises à la majorité simple des votes exprimés.
La SICAV est constituée pour une durée illimitée mais peut faire l’objet d’une liquidation à tout moment par décision des actionnaires conformément au droit luxembourgeois. Une assemblée générale des actionnaires sera convoquée afin de statuer sur la liquidation de la SICAV si la valeur de son actif net devait être inférieure aux deux tiers du capital minimum requis par la loi. Le capital minimum fixé par le droit luxembourgeois  est  actuellement  l’équivalent  de 1 250 000 euros. Dans le cas où la liquidation de la SICAV serait envisagée, les Actions ne pourront plus être émises, échangées ou rachetées après la publication du premier avis de convocation de l’assemblée générale des actionnaires portant sur la liquidation de la SICAV. Toutes les Actions en circulation au moment de ladite publication seront intégrées dans l’actif de liquidation de la SICAV qui sera distribué.
Les montants de la liquidation de la SICAV ou d’un Compartiment qui ne peuvent pas être distribués aux actionnaires au cours d’une période de neuf mois seront déposés auprès de la Caisse de Consignation jusqu’à ce que le délai de prescription légal soit écoulé. Les montants qui n’auront pas été réclamés dans un délai de 30 ans pourront être confisqués.
Si, après la fermeture ou la liquidation d’un Compartiment, des paiements inattendus relatifs à ce Compartiment spécifique étaient reçus par la SICAV, et que le Conseil considérait, au vu des montants concernés ou du temps écoulé depuis la fermeture ou la liquidation, qu’il n’est pas approprié ou justifiable d’un point de vue opérationnel de reverser lesdits montants aux anciens actionnaires, ces montants seraient alors conservés par la SICAV.
Fusions
Toute fusion d’un Compartiment doit être décidée par le Conseil à moins que ce dernier ne décide de soumettre la décision d’une fusion à une assemblée des actionnaires du Compartiment concerné. Aucun quorum n’est requis pour cette assemblée et les décisions sont prises à la majorité simple des votes exprimés. Dans le cas d’une fusion d’un ou de plusieurs Compartiments entraînant la dissolution d’un Compartiment, la fusion doit être décidée par une assemblée des actionnaires, au sein de laquelle aucun quorum n’est exigé et qui est en mesure de prendre des décisions à la majorité simple des votes exprimés. De plus, les dispositions relatives aux fusions des OPCVM présentes dans la Loi de 2010 et toutes les réglementations portant application (en rapport notamment avec la notification aux actionnaires) s’appliquent.

### La Société de gestion
Nom et siège social de la société
FIL Investment Management (Luxembourg) S.A. 2a Rue Albert Borschette, BP 2174
L-1246 Luxembourg
Site Web fidelityinternational.com Forme juridique Société anonyme Juridiction légale Luxembourg Constitution Le 14 août 2002 Autorité réglementaire
Commission de surveillance du secteur financier (CSSF) 283, route d’Arlon, L-1150 Luxembourg
Numéro d’immatriculation (Registre du commerce et des sociétés de Luxembourg) B 88 635
Autres	fonds	gérés	Consultez	le	site
fidelityinternational.com

###### Administrateurs de la Société de gestion
Christopher Brealey
Luxembourg Eliza Dungworth Luxembourg
Jon Skillman
Luxembourg
Sera Sadrettin-Perry Royaume-Uni Romain Boscher France

###### Dirigeants
Florence Alexandre
Luxembourg
Stephan von Bismarck
Royaume-Uni Philip Hanssens Luxembourg Corinne Lamesch Luxembourg Karin Winklbauer Luxembourg
Paul Witham
Luxembourg
Responsabilités et délégation
Le Conseil de la SICAV a désigné la Société de gestion pour remplir les fonctions de gestion des investissements, d’activités administratives et de marketing. Sous réserve de l’approbation du Conseil et de la CSSF, la Société de gestion a la possibilité de déléguer à des tiers compétents tout ou partie des activités d’administration, de gestion des portefeuilles, et des fonctions de marketing, tant qu’elle garde des pouvoirs de supervision, met en œuvre des contrôles et des procédures appropriés, et actualise le prospectus.
Un Gérant de Portefeuille peut, à son tour, désigner un ou plusieurs sous-gérants de portefeuille.
La Société de gestion doit exiger de toute entité déléguée qu’elle respecte le prospectus, les Statuts, la Loi de 2010 et les autres dispositions applicables lorsqu’elle agit pour le compte de la SICAV. La Société de gestion doit déclarer chaque trimestre au Conseil, et les dirigeants doivent informer rapidement les administrateurs de la Société de gestion et le Conseil de toutes les affaires administratives importantes et défavorables qui découlent des agissements du Gérant de Portefeuille, du distributeur général et de la Société de gestion elle-même.
Les Gérants de Portefeuille, les Sous-gérants de portefeuille et tous les prestataires de services et leurs délégués engagés par la Société de gestion ont conclu des contrats pour une durée indéterminée.
Le Conseil ou la Société de gestion peut résilier un de ces contrats de service immédiatement s’il détermine que cette décision est dans le meilleur intérêt des actionnaires. Dans le
cas contraire, un titulaire de l’un de ces contrats de service peut démissionner ou être remplacé moyennant un préavis de 90 jours (dans certaines circonstances, de 30 jours pour les contrats de gestion des investissements concernant les actions dont la vente est autorisée à Hong Kong).

###### Politiques de la Société de gestion
D’autres informations sur ces politiques et d’autres politiques sur la conduite de la société sont disponibles en suivant les liens indiqués ci-dessous ou comme indiqué dans les « Avis, publications et autres informations » à la fin de la section
« Investir dans les Compartiments ».
Conflits d’intérêts
Le Groupe FIL est un fournisseur international de services de banque d’investissement, de gestion d’actifs et de services financiers. De plus, la société est un participant important sur les marchés financiers mondiaux. Par conséquent, le Groupe FIL s’occupe de différentes activités professionnelles et peut avoir d’autres intérêts directs ou indirects sur les marchés financiers sur lesquels la SICAV investit. La SICAV n’a pas droit à une rémunération dans le cadre de ces activités professionnelles.
La Société de gestion, le Gérant de Portefeuille, le Distributeur général et certains autres distributeurs et prestataires de services ou délégués font partie du Groupe FIL. Une entité du Groupe FIL pourrait être un émetteur ou une contrepartie concernant un titre ou un instrument dérivé qu’un Compartiment envisage d’acheter ou de vendre. De plus, une entité du Groupe FIL qui rend des services à la SICAV à un titre donné pourrait rendre des services à une autre SICAV (qu’elle soit promue ou non par le Groupe FIL) à un titre similaire ou différent.
Dans de tels cas, la Société de gestion cherche à identifier, gérer et, si nécessaire, interdire une mesure ou une transaction qui pourrait engendrer un conflit entre les intérêts des entités du Groupe FIL et la SICAV ou ses investisseurs, par exemple la SICAV et d’autres clients des entités du Groupe FIL. Lorsque des transactions menées sont susceptibles d’être affectées par un conflit d’intérêts, ces transactions doivent être menées selon des conditions commerciales normales et en respectant le principe de pleine concurrence. Tous les incidents dans lesquels les conflits d’intérêts ne peuvent pas être neutralisés comme il convient, ainsi les décisions prises pour résoudre ces incidents, seront signalés aux investisseurs dans les Annexes aux Comptes de la SICAV.
La Société de gestion, conjointement à toutes les entités du Groupe FIL, s’efforce de gérer tout conflit conformément aux normes les plus élevées en matière d’intégrité et de traitement équitable. La politique de la Société de gestion sur les conflits d’intérêts est disponible sur fidelityinternational.com.
Rémunération
La Société de gestion a mis en œuvre une politique de rémunération qui est destinée à ne pas encourager une prise de risque incompatible avec le profil de risque des Compartiments, mais sans pour autant bloquer la Société de gestion dans ses obligations d’agir dans le meilleur intérêt des actionnaires.
La politique de rémunération :
- soutient une culture de performance basée sur le mérite ;
- différentie et récompense une excellente performance, à la fois à court et à long terme ;
- équilibre une rémunération fixe et variable pour refléter comme il convient la valeur et la responsabilité du rôleoccupé au jour le jour, et pour influencer des comportements et des actions appropriés ;
- exige que les décisions en matière de rémunération des employés occupant des fonctions de contrôle indépendant soient prises par un dirigeant supérieur de la division de contrôle. Ainsi, ces décisions seront totalement indépendantes des secteurs d’activité ;
- s’inscrit dans, et favorise, des pratiques de gestion efficace des risques, y compris des risques de durabilité ; et
- est compatible avec la politique de la Société de gestion en matière de conflit d’intérêts et, de manière plus générale, avec sa culture de conformité et de contrôle.

Les administrateurs de la Société de gestion doivent s’assurer que la politique est appliquée à l’ensemble du personnel de la Société de gestion et qu’elle est révisée chaque année. La politique de rémunération actuelle est disponible sur www.fil.com. Un exemplaire papier peut être obtenu gratuitement sur demande rédigée en anglais auprès de la Société de gestion.
Meilleure exécution
Chaque Gérant de Portefeuille et chaque sous-gérant de portefeuille a adopté une politique en matière de meilleure exécution pour mettre en œuvre toutes les mesures raisonnables afin d’atteindre le meilleur résultat possible pour la SICAV lors de l’exécution des ordres. Dans le but d’établir ce qui constitue la meilleure exécution, le Gérant de Portefeuille et/ou le sous-gérant de portefeuille tiendront compte d’une variété de facteurs, comme le prix, la liquidité, la rapidité et le coût, entre autres, en fonction de leur importance relative basée sur les différents types d’ordres ou d’instruments financiers. Les transactions sont principalement exécutées par le biais de courtiers qui sont sélectionnés et surveillés d’après les critères de la politique de meilleure exécution. Les personnes liées sont également prises en compte. Afin d’atteindre l’objectif de meilleure exécution, le Gérant de Portefeuille et/ou le sous-gérant de portefeuille peuvent choisir de faire appel à des agents (Personnes liées ou pas) pour ses activités de transmission et d’exécution des ordres.
Le Gérant de Portefeuille, l’un de ses délégués et/ou l’une de leurs Personnes liées peuvent effectuer des transactions par l’intermédiaire d’une tierce personne avec laquelle ils ont conclu un accord, en vertu duquel cette tierce personne fournira ou fera fournir au Gérant de Portefeuille, à l’un de ses délégués et/ou à l’une de leurs Personnes liées des biens, des services et autres avantages (comme effectuer des recherches et dispenser des conseils lorsque cela est permis par la réglementation) (une « commission accessoire »). La nature de ces services doit être telle qu’elle doit laisser raisonnablement penser qu’ils seront bénéfiques à la SICAV dans son ensemble et contribueront à améliorer ses performances ainsi que celles du Gérant de Portefeuille ou de tout délégué dans la fourniture de services à la SICAV et pour lesquels aucun paiement direct n’est effectué mais en contrepartie desquels le Gérant de Portefeuille, l’un de ses délégués et/ou l’une de leurs Personnes liées s’engagent à réaliser des affaires avec cette tierce personne. Pour éviter toute ambiguïté, il convient de spécifier que ces biens et services ne comprennent pas les voyages, l’hébergement, les divertissements, les biens ou services d’administration générale, les équipements de bureaux ou locaux, les cotisations de membres, les salaires ou un quelconque paiement direct. Dans le rapport annuel de la SICAV, une information périodique est présentée sous forme de déclaration qui décrit les politiques et pratiques du Gérant de Portefeuille ou de ses délégués en matière de commissions accessoires, y compris une description des biens et services qu’ils, ou toute Personne liée, ont reçu.
Le Gérant de Portefeuille, tous ses délégués et/ou toutes leurs Personnes liées ne peuvent conserver les bénéfices résultant d’une ristourne (en l’occurrence, tout remboursement en espèces de commission effectué par un courtier ou un opérateur au Gérant de Portefeuille, à tous ses délégués et/ou à toutes leurs Personnes liées) versée ou due par un courtier ou un opérateur en contrepartie d’une affaire effectuée à leur profit par le Gérant de Portefeuille, tous ses délégués et/ou toutes leurs Personnes liées agissant pour le compte de SICAV. Cette ristourne reçue d’un courtier ou d’un opérateur sera conservée par le Gérant de Portefeuille, tous ses délégués et/ou toutes leurs Personnes liées pour le compte de la SICAV. Les taux de commission ne peuvent dépasser les taux habituels d’un service complet pour les Investisseurs institutionnels. Toutes les transactions seront effectuées pour le mieux. La disponibilité des commissions accessoires n’est pas nécessairement l’objectif unique ou principal de l’exécution ou de l’organisation d’une transaction avec ce courtier ou cet opérateur.
Des informations supplémentaires sur les frais liés à la recherche des investissements, y compris le montant maximum qui peut être facturé à un Compartiment, sont disponibles au siège	social	de	la	SICAV	ou	sur fidelityinternational.com/researchbudget.

###### Sociétés professionnelles engagées par la Société de gestion
Gérant de Portefeuille
FIL Fund Management Limited Pembroke Hall, 42 Crow Lane Pembroke HM19, Bermudes
Le Gérant de Portefeuille s’occupe de la gestion quotidienne de chaque Compartiment conformément aux objectifs et politiques d’investissement déclarés. Il est habilité à agir pour le compte de la SICAV, à choisir les agents, courtiers et négociateurs en bourse et à effectuer des transactions en titres pour le portefeuille de chaque Compartiment.
Le Gérant de Portefeuille peut se faire conseiller en matière d’investissements et agir sur les conseils de toute « Personne liée » ou de tout conseiller tiers. En outre, le Gérant de Portefeuille peut sous-déléguer les activités de gestion des investissements à toute « Personne liée » ou à toute autre entité éligible en vertu de la réglementation en vigueur. Le Gérant de Portefeuille est responsable de la bonne exécution de ces responsabilités par cette entité.
Le Gérant de Portefeuille peut sous-déléguer les activités de gestion des investissements aux entités suivantes (y compris leurs filiales). Les rapports annuels et semestriels énumèrent toutes les entités ayant géré des actifs de chaque Compartiment au cours des six ou doux derniers mois.
Sous-gérants de portefeuille
FIAM LLC
900 Salem Street
Smithfield, RI 02917, États-Unis
Fidelity Management & Research Company LLC
245 Summer Street
Boston, MA 02210, États-Unis
FIL Gestion
21, avenue Kléber
75784 Paris Cedex 16, France
FIL Investment Management (Australia) Limited
Level 17, 60 Martin Place Sydney, NSW 2000, Australie
FIL Investment Management (Hong Kong) Limited
Level 21, Two Pacific Place 88 Queensway
Admiralty, Hong Kong
FIL Investment Management (Singapore) Limited
8 Marina View, #35-06 Asia Square Tower 1
Singapore 018960, Singapour FIL Investments International Beech Gate, Millfield Lane Lower Kingswood, Tadworth Surrey, KT20 6RP, Royaume-Uni
FIL Investments (Japan) Limited
7-7 7, Roppongi, Minato-ku
Tokyo 106 0032, Japon
FIL (Luxembourg) S.A.
2a, Rue Albert Borschette, BP 2174 L-1246 Luxembourg
Fidelity Investments Canada ULC
483 Bay Street, Suite 300, Toronto ON M5G 2N7, Canada
Geode Capital Management, LLC 100 Summer Street, 12th Floor
Boston, MA 02110, États-Unis
Geode Capital Management, LLC a été nommée Sous-gérant de portefeuille pour le Compartiment Fidelity Funds – EURO STOXX 50® Fund.
En outre, Geode Capital Management, LLC peut également gérer des actifs des Compartiments suivants : Fidelity Funds – Absolute Return Multi Strategy Fund, Fidelity Funds – Asia Pacific Multi Asset Growth & Income Fund, Fidelity Funds – European Multi Asset Income Fund; Fidelity Funds – Global Multi Asset Income Fund, Fidelity Funds – Global Multi Asset Dynamic Fund, Fidelity Funds – Global Multi Asset Growth & Income Fund, Fidelity Funds – Global Multi Asset Defensive Fund, Fidelity Funds – Global Thematic Opportunities Fund, Fidelity Funds – Greater China Multi Asset Growth & Income Fund, Fidelity Funds – Sustainable Multi Asset Income Fund, Fidelity Funds – SMART Global Defensive Fund, Fidelity Funds
- Fidelity Institutional Target™ 2025 (Euro) Fund, Fidelity Funds
- Fidelity Institutional Target™ 2030 (Euro) Fund, Fidelity Funds
- Fidelity Institutional Target™ 2035 (Euro) Fund, Fidelity Funds
- Fidelity Institutional Target™ 2040 (Euro) Fund, Fidelity Funds
- Fidelity Institutional Target™ 2045 (Euro) Fund, Fidelity Funds
- Fidelity Institutional Target™ 2050 (Euro) Fund, Fidelity Funds
- Fidelity Institutional Target™ 2055 (Euro) Fund, Fidelity Funds
- Fidelity Institutional Target™ 2060 (Euro) Fund, Fidelity Funds
- Fidelity Target™ 2025 (Euro) Fund, Fidelity Funds – Fidelity Target™ 2030 (Euro) Fund, Fidelity Funds – Fidelity Target™ 2035 (Euro) Fund, Fidelity Funds – Fidelity Target™ 2040 (Euro) Fund, Fidelity Funds – Fidelity Target™ 2045 (Euro) Fund, Fidelity Funds – Fidelity Target™ 2050 (Euro) Fund, Fidelity Funds – Fidelity Target™ 2055 (Euro) Fund et Fidelity Funds – Fidelity Target™ 2060 (Euro) Fund. Le Gérant de Portefeuille peut décider d’attribuer la gestion d’une partie des actifs deces Compartiments à Geode Capital Management, LLC s’il le juge approprié. La décision d’attribuer la gestion d’une partie des actifs ainsi que le volume d’actifs sous gestion alloué dépendra d’un processus de sélection qualitatif et quantitatif basé sur plusieurs critères notamment l’expérience en matière de gestion de portefeuille, l’appétit pour le risque, la stratégie, le style ou l’historique de performance ainsi que l’adéquation des objectifs et politiques d’investissement et des profils de risque des divers Compartiments. Dans tous les cas, la partie des actifs de ces Compartiments qui pourrait être attribuée à Geode Capital Management, LLC devrait être négligeable. Si le Gérant de Portefeuille développe la stratégie globale des Compartiments concernés, notamment les directives d’investissement appropriées, Geode Capital Management, LLC est responsable, au quotidien, des décisions d’investissement concernant les actifs qui lui sont confiés, qui doivent être conformes aux objectifs et politiques d’investissement des Compartiments concernés.

Le Gérant de Portefeuille peut, à tout moment, compléter, remplacer ou résilier le mandat de Geode Capital Management, LLC et/ou réassigner les actifs des Compartiments entre les sous-gérants de portefeuille sans préavis aux actionnaires s’il juge qu’une telle action est nécessaire ou désirable.
Distributeur général
FIL Distributors
Pembroke Hall, 42 Crow Lane Pembroke HM19, Bermudes
Téléphone +1 441 297 7267
Fax +1 441 295 4493
Le Distributeur général est responsable des activités de marketing, de vente ou de distribution des actions de la SICAV.
Autres distributeurs et agents
Le Distributeur général peut engager des sociétés du Groupe FIL ainsi que des sociétés tierces comme distributeurs locaux, établissements de négociation ou représentants dans certains pays ou sur certains marchés. La Société de gestion peut agir elle-même en tant qu’établissement de négociation.
| Entité et région desservie | Dis- tribu- teur | Dispo- sitif de négo- ciation | Repré- sentant |
| --- | --- | --- | --- |
|   Bermudes	 |  |  |  |
| FIL Distributors International Limited PO Box HM670 Hamilton HMCX, Bermudes Téléphone (+1) 441 297 7267   Fax (+1) 441 295 4493	 | • | • |  |
|  France	 |  |  |  |
| FIL Gestion 21, avenue Kléber 75784 Paris Cedex 16, France   Téléphone (+33) 7304 3000	 | • |  |  |
|  Allemagne	 |  |  |  |
| FIL	Investment	Services GmbH Kastanienhöhe 1 D61476 Kronberg im Taunus,   Allemagne	 | • | • |  |

Dans certains pays, le recours à un agent est obligatoire et l’agent peut ne pas se contenter de faciliter les transactions mais également détenir des actions en son nom propre pour le compte des investisseurs. Les distributeurs peuvent agir à titre de personnes apparentes, ce qui affecte vos droits en tant qu’investisseur.
| Entité et région desservie | Dis- tribu- teur | Dispo- sitif de négo-                        ciation	 | Repré- sentant |
| --- | --- | --- | --- |
|  Autres juridictions	 |  |  |  |
| FIL Investments International Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP Royaume-Uni Téléphone (44) 1732 777377 Fax (44) 1732 777262 | • | • |  |
| FIL Pensions Management Beech Gate, Millfield Lane, Lower Kingswood, Surrey, KT20 6RP Royaume-Uni Téléphone (44) 1732 777377 Fax (44) 1732 777262 | • |  |  |

| Entité et région desservie | Dis- tribu- teur | Dispo- sitif de négo-                        ciation	 | Repré- sentant |
| --- | --- | --- | --- |
| Téléphone (+49) 6173 5090   Fax (+49) 6173 5094 199	 |
|  Hong Kong	 |
| FIL Investment Management (Hong Kong) Limited Level 21, Two Pacific Place 88 Queensway Admiralty, Hong Kong Téléphone (+852) 2629 2629   Fax (+852) 2629 6088	 | • |  | • |
| Irlande |
| FIL	Fund	Management (Ireland) Limited George’s Quay House 43 Townsend Street   Dublin DO2 VK65, Ireland	 |  |  | • |
|  Luxembourg	 |
| FIL (Luxembourg) S.A. 2a, Rue Albert Borschette, BP 2174 L-1246 Luxembourg Téléphone (+352) 2504 0424 00   Fax (+352) 2638 3938	 | • | • |  |
|  Taïwan	 |  |  |  |
| FIL  Securities  Investment Trust Co. (Taiwan) Limited 11F, 68 Zhongxiao East Road Section 5, Xinyi District Taipei   City 11065, Taïwan	 |  |  | • |
| Singapour |  |  |  |
| FIL Investment Management (Singapore) Limited 8 Marina View #27-01-06, Asia Square Tower 1 Singapore 018960, Singapour Téléphone : (65) 6511 2200   Fax : (65) 6536 1960	 |  |  |  |

Agent de transfert délégué
HSBC Continental Europe, Filiale du Luxembourg
16 Boulevard d’Avranches
1160 Luxembourg
L’agent de transfert délégué sert d’agent de transfert pour le compte des clients qui ne résident pas au Canada et aux États- Unis et qui investissent par le biais de National Securities Clearing Corporation et de Canadian Fundserv.
Fidelity, Fidelity International, ainsi que le logo et le symbole de Fidelity International sont des marques déposées de FIL Limited.