KENFO has a unique, socially significant and responsible task. It was founded to ensure the long-term financing of the interim and final storage of radioactive waste in Germany. To this end, KENFO received a one-off sum of 24.1 billion euros from the operators of German nuclear power plants. It invests its foundation assets in a global, broadly diversified portfolio in line with a return-oriented sustainability approach.
Taking into account sustainability criteria is an essential part of the investment strategy. The sustainability strategy aims to contribute to a stable long-term portfolio performance. This is achieved by aiming to identify companies exposed to business risk e.g. due to corporate misconduct early on. The “ESG criteria” (environmental, social, governance) are taken into account as filters for the investment universe. A combination of exclusion criteria - for example in the event of a serious violation of the core principles of the UN Global Compact (human rights, labour standards, environmental protection and corruption) - and a “best-in-class” approach regarding individual companies’ ESG scores is used to increase the portfolio quality.