Årsrapport 2022 godkendt 7. marts 2023 (eng) - Flipbook - Side 15
INDUSTRIENS PENSIONSFORSIKRING A/S ANNUAL REPORT 2022
Corporate social
responsibility
Industriens Pension's raison d’être is to create
financial security for retired industrial employees
in Denmark with savings in the company. Our job
is therefore to ensure efficient portfolio
management of these savings which are to
supplement the state retirement pension for
pensioners.
At the same time, society has legitimate
expectations that the growing pension assets
contribute to sustainable development of
society. This is also Industriens Pension’s
ambition, and we believe that by investing
responsibly while also being an active investor,
we can protect and increase returns for
members.
conventions on weapons, coal mining,
extraction of tar sand, etc. These factors are
described together as (Environmental, Social
and Governance), and Industriens Pension
believes that the ability of companies to manage
ESC factors is significant for value creation and
thus the investment returns earned by
Industriens Pension.
Investments
Industriens Pension’s policy and guidelines on
responsible investment and active ownership
were most recently updated in March 2023.
They describe how we observe human rights,
labour rights, the environment and climate, anticorruption and responsible tax behaviour when
we invest, and how our investments do not
contribute to activities that contravene
in investments, and compliance is therefore
included as a special consideration in the
investment process. In 2022, Industriens
Pension was in dialogue with 42 companies
about employment conditions.
Fair tax is an important parameter when
investing, especially when investments are
across national borders. It is crucial for
Industriens Pension that the tax structures and
methods used ensure fair tax payments.
Industriens Pension disapproves of aggressive
tax planning and tax evasion, including any
attempts at, and involvement in money
laundering, and expects the same of all its
cooperation partners.
ESG – an area developing rapidly
Industriens Pension reports on work on
responsible investment and active ownership in
its corporate social responsibility report.
Below is a summary of the key content of the
report.
Responsibility throughout
Finally, clearly we also need to reduce
Industriens Pension's own climate and
environmental footprint and ensure proper
conditions for employees.
CORPORATE SOCIAL RESPONSIBILITY
Industriens Pension believes that we can make
the biggest difference by engaging in dialogue
with, and placing demands on, the companies in
which we invest. Industriens Pension engages in
dialogue directly with Danish companies and
votes at their general meetings. Dialogue with
international companies is through an external
cooperation partner: Federated Hermes EOS. In
2022, Industriens Pension was in contact with
498 companies on responsible investments, and
voted on 4,067 proposals at general meetings.
Industriens Pension has requirements for
compliance with human rights and labour rights
The area for responsible investment, or the ESG
area, is developing rapidly, and Industriens
Pension has an ambition always to strive to be
better at managing ESG issues across
investments. Furthermore, this is not a
black/white area, but an area where dilemmas
and
balancing
different
considerations
regarding responsibility constantly arise.
Therefore, it is important for Industriens Pension
to be transparent about the choices made
regarding responsibility and the background for
these.
An essential precondition for becoming even
better at addressing ESG issues in work on
investments is the basis of information. It is
therefore positive that data on ESG issues is
being developed significantly and is becoming
more available. The aim is to have an equally
high level of information on ESG parameters as
exists today on financial key ratios.
The increased focus on data and increased
information on ESG issues have been greatly
assisted by new EU regulation in the form of the
Taxonomy and Disclosure Regulations that
require both non-financial and financial
undertakings to provide information regarding
ESG issues, including information regarding
sustainability
characteristics.
Extensive
initiatives to develop methods and data to
measure ESG issues have therefore been
launched in the financial sector and in the
companies we have invested in. Industriens
Pension is also implementing this regulation,
including developing the underlying information
base.
Sustainability with climate as a specific
benchmark
Industriens Pension has focus on sustainability;
economic
sustainability,
environmental
sustainability
and
climate
sustainability.
Industriens Pension contributes to economic
sustainability by ensuring members good
pension savings through the highest possible
long-term returns, taking into account the risk.
Furthermore, Industriens Pension aims to
support sustainable development through
investments in all significant sectors of society to
promote a transition to the best possible
conditions for humanity in the long term.
Industriens Pension has a diversified portfolio
with many different types of assets, including
investments in large listed companies and small
startups, as well as real assets such as
infrastructure and properties. The sustainability
strategy concerns the entire investment
portfolio, and there is focus on how each class
of assets can support the strategy in the best
possible way.
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