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Storebrand ASA

PRI reporting framework 2017

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Overview

LEA 01. Description of approach to engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate whether your organisation has a formal engagement policy.

01.2. Indicate what your engagement policy covers:

01.3. Attach or provide a URL to your engagement policy. [Optional]

01.4. Provide a brief overview of your organization’s approach to engagement

Active ownership and engagement is an important part of Storebrand's approach to sustainable investments. During Q4 2016, Storebrand carried out an evaluation of its active ownership and engagement practices in order to align them better with Storebrand group's purpose, "A future to look forward to" and the values that come with it. As a result, our investment policy is being updated to reflect that our main objectives to reduce risk, safeguard and create value on behalf of shareholders also explicetely refer to environmental, social and governance value. Creating financial value for our clients is important but it is also extremely important that the world and planet where our clients retire is a good place to live in. Accordingly, in 2017 we are adapting our engagement strategy from redressing wrongs to actually having a positive impact 

Our former Governance Committee which oversaw the framework and principles for active ownership/engagement and especially controversial cases has become an Engagement committee. Its role is more active since it supervises, selects and prioritizes all engagement cases with special focus on theme proactive engagement. It includes financial analysts as well as ESG analysts and the head of Storebrand Asset Management. It reports to the board.

01.5. Additional information [optional]

Adapting our engagement strategy from redressing wrongs to actually having a positive impact results in a new active ownership/engagement strategy where we prioritize engagements where we think we can have a better opportunity to obtain good results and we have allocated more time and resources to those. This means better quality engagements with fewer companies for longer periods of time and when possible whith other investors for more leverage. This also allows for more proactive engagement since our resources are not used on every controversial case (reactive engagement).

Engagement activities continue to be based on the Norwegian and Swedish Governance Codes, as well as the EU Shareholder Rights Directive. Storebrand is a member of the Norwegian Committee for Corporate Governance which outlines Best Practice for Norwegian companies and provides a solid basis for engagement.Our main form of active ownership is direct dialogue with companies alone or together with other investors, with a focus, but not exlcusively, in Norway and Sweden.

 


LEA 02. Reasoning for interaction on ESG issues

02.1. Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual/Internal staff engagements

Collaborative engagements

Service provider engagements

02.2. Additional information. [Optional]


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