TreeCap does not take into account the adverse impacts of investment decisions on sustainability factors and therefore does not prepare an annual ‘Principal Adverse Impact Statement’ (PAI). Considering the limited size of our company and the significant effort that would be required from us if we were to take these adverse impacts into account, we find this disproportionate at the present time.

Preparing a ‘PAI statement’ requires a large amount of data, which we would need to purchase, leading to high costs. Additionally, the coverage and quality of the available data are currently insufficient. These are the main reasons why we have decided not to prepare an adverse impact statement (for now).