Amana Funds Sustainability and Stewardship Report 2024

Key Takeaways

1. The Amana Funds create long-term value by integrating Islamic principles with sustainability considerations, demonstrating superior performance in transparency and emissions reductions compared to the benchmark indices.
2. The Funds remain focused on reducing climate impact and maintain lower greenhouse gas emissions intensity than their peers. This is attributed to strategic sector exclusions and proactive management.
3. Although progress has been made in gender and ethnic diversity, we acknowledge ongoing challenges in achieving representation parity — particularly in leadership roles — and continue to view diversity as a driver of financial and organizational success.
4. The Funds lead in water use intensity metrics while addressing broader water risks through innovative strategies, exemplified by holdings such as Schneider Electric and Taiwan Semiconductor Manufacturing Company (TSMC), which are focused on conservation and recycling.
5. Ethical business practices are central to Amana’s investing philosophy, as we invest in companies dedicated to transparency, anti-corruption, and whistleblower protections. Holdings such as Novo Nordisk, which integrates ethical considerations across its operations, are examples of how ethical business means good business.