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Storebrand ASA

PRI reporting framework 2017

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You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (A) Implementation: Screening

(A) Implementation: Screening

FI 07. Types of screening applied

07.1. Indicate the type of screening you conduct.

Select all that apply
SSA
Corporate (financial)
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

07.2. Describe your approach to screening for internally managed active fixed income

Negative and Norm based screening

The Storebrand Standard applies to all internally managed funds and portfolios, including all Fixed Income investments, and covers:

1) Product related exclusions: controversial weapons (landmines, cluster munitions, nuclear weapons, chemical/biological weapons) and tobacco

2) Controversial issues: human rights and international humanitarian law, corruption and economic crime, environmental degradation

3) Sector specific exclusions: lowest performing companies in high risk industries + climate related (companies with over 30% of revenues from coal, oil sand companies, palm oil companies causing deforestation).

As of Q4 2016 178 companies were excluded.

Positive/Best in Class screening

The Storebrand Sustainability rating covering 2500 companies also includes fixed income funds and portfolios. Ratings are on a 1-100 scale and consist of companies ESG practice, financial robustness and positioning for global sustainability trends. Analyses leading to the rating are sector based. Some types of bonds (Norwegian regional banks, Swedish Covered Bonds and Bonds issued by Norwegian/Swedish communes are given a group score based on ratings from the Financial sector.

On the basis of this sustainability rating, fixed income funds are rated on a scale of 1-10.

07.3. Additional information. [Optional]


FI 08. Negative screening - overview and rationale

08.1. Indicate why you conduct negative screening.

SSA

SSA

Corporate (financial)

Corporate (fin)

08.2. Describe your approach to ESG-based negative screening of issuers from your investable universe.

Storebrand aims to ensure that its clients assets are not exposed to companies that breach international norms and conventions, including breaches of humanitarian law, human rights, labor rights, corruption guidelines and environmental laws. From a legal perspective Storebrand believes that it has a duty under the UN Guiding Principles for Business and Human Rights to avoid being complicit in breaches of human rights and humanitarian law.

08.3. Additional information. [Optional]


FI 09. Examples of ESG factors in screening process (Not Completed)


FI 10. Screening - ensuring criteria are met

10.1. Indicate which systems your organisation has to ensure that fund screening criteria are not breached in fixed income investments.

Type of screening
Checks
Negative/exclusionary screening?
Norms-based screening

10.2. Additional information. [Optional]

Quarterly reports with updated exclusion ratings and ESG ratings are sendt from the Sustainability team to Compliance functions. Automated, daily compliance checks for both Storebrand Standard (exclusions) and ESG rating thresholds are conducted. If breaches of the exclusion criteria are found fund managers are immediately notified and required to rectify the breach. Compliance breaches of the Storebrand standard are reported at board level. Compliance breaches of ESG fund rating thresholds are followed up in internal periodical fund review meetings.


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