The Pure Cremation Funeral Plan is proud to ensure its funds are invested ethically.
Being an ethical business is part of the DNA of Pure Cremation. We believe that everything we do should benefit our clients, our team and the world at large. When it comes to our pre-paid funeral plan we wanted to ensure that everything was done properly.
Funeral plans fall within the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001. Chapter 14 deals exclusively with these plans and provides an exemption where certain requirements are met.
- Where the provider and customer intend or expect the funeral to occur within 1 month
- Where the money is applied to a whole life insurance on the life of the customer
- Where the money is held on trust with a specific purpose to provide a funeral as long as:
- The Trust is established by a written document
- More than 50% of the trustees are independent from the provider
- An authorised, independent fund manager is appointed
- The Trust’s assets and liabilities are audited annually
- The Trust’s assets and liabilities are determined by an Actuary every three years.
Our plan, like the majority of funeral plans, is trust based. We have four trustees, 3 of whom are independent - an accountant, a solicitor, a retired funeral director and a representative from Pure Cremation.
To ensure the funds placed within the trust are invested ethically we have appointed an independent, professional investment manager.
As a specialist investment management business with over £56 billion under management they launched their first ethical fund in 1989 and regularly win awards for their performance.
As stewards of our investments they take an active role in ensuring the companies they invest in continue to operate in the best interests of the wider world, regulaly attending shareholders meetings and in fact often vote against or abstain from voting when they do not agree with proposals.
Our funds are spread between bonds and equities and each investment is screened both by an in-house team and a specialist third party.
Our Investment Managers use what's often referred to as a ‘dark green’ screen to apply a stringent ethical philosophy. This adopts a negative approach that screens companies out of our funds’ potential investment universe if they engage in certain unacceptable activities. Examples of our screening process are shown below.
- provide animal testing services or manufacture or sell animal-tested cosmetics, household products or pharmaceuticals
- have any involvement in intensive farming
- operate abattoirs or slaughterhouse facilities
- are producers or retailers of meat, poultry, fish or dairy products or slaughterhouse by-products
- manufacture armaments, nuclear weapons or associated strategic products
- provide critical services to, or own or operate, nuclear facilities
- are involved in activities which are commonly held to be environmentally unsound – specifically manufacturers of PVC, Ozone Depleting Chemicals and hazardous pesticides
- are in breach of internationally recognised conventions on biodiversity and companies in energy intensive industries which are not tackling the issue of climate change
- have made political donations of more than £25,000 in the last year
- have patented genes
- have investments in betting shops, casinos or amusement arcades accounting for more than 10% of their total business
- derive more than 10% of their total business through involvement in brewing, distillation or sale of alcoholic drinks
- derive more than 10% of their business from the growing, processing or sale of tobacco products
- provide adult entertainment services
- are corporate or international banks with exposure to large corporate or Third World debt
- operate in countries with poor human rights records, and which have no established management policies on human rights issues.
Our Investment Manager is authorised and regulated by the Financial Conduct Authority