SIFEM - Swiss Investment Fund for Emerging Markets

Exclusion list

SIFEM will not finance any activity, production, use of, trade in, distribution of or involving:

  • Forced labor or child labor
  • Activities or materials deemed illegal under host country laws or regulations or international conventions and agreements, or subject to international phase-outs or bans, such as:

    • Ozone-depleting substances, PCBs (polychlorinated biphenyls) and other specific hazardous pharmaceuticals, pesticides/herbicides or chemicals;
    • Wildlife or products regulated under the Convention on International Trade in Endangered Species or Wild Fauna and Flora (CITES); or
    • Unsustainable fishing methods (e.g., blast fishing and drift-net fishing in the marine environment using nets in excess of 2.5 km in length).

  • Cross-border trade in waste and waste products, unless compliant to the Basel Convention and the underlying regulations.
  • Destruction of High Conservation Value areas
  • Radioactive materials and unbonded asbestos fibres.
  • Construction of new and extension of any existing coal fired thermal power plants.
  • Pornography and/or prostitution
  • Racist and/or anti-democratic media
  • Weapons and munitions
  • In the event that any of the following products form a substantial part of a project’s primary financed business activities:
    a) Alcoholic beverages (except beer and wine);
    b) Tobacco; or
    c) Gambling, casinos and equivalent enterprises.