PUBLICA does not define or employ its own politically motivated or moral criteria, and is instead guided by the will of the Swiss electorate. In principle, this also reflects the will of PUBLICA’s more than 100,000 active members and pension recipients in their capacity as voters. The Swiss electorate expresses its will in the outcomes of federal votes on mandatory and optional referendums as well as popular initiatives. The political will also manifests itself in the parliamentary procedural requests forwarded by the Federal Assembly. The criteria for PUBLICA’s responsible investment activity are dictated in part by the Swiss Federal Constitution and the legislation derived from it, as well as the international conventions ratified by Switzerland, which largely coincide with the 10 principles of the UN Global Compact.