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Tundra Fonder AB

PRI reporting framework 2018

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ESG incorporation in actively managed listed equities

Implementation processes

LEI 01. Percentage of each incorporation strategy

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

01.1. Indicate (1) which ESG incorporation strategy and/or combination of strategies you apply to your actively managed listed equities and (2) the breakdown of your actively managed listed equities by strategy or combination of strategies (+/- 5%)

ESG incorporation strategy (select all that apply)

Percentage of active listed equity to which the strategy is applied
100 %
Total actively managed listed equities 100%

01.2. Describe your organisation’s approach to incorporation and the reasons for choosing the particular ESG incorporation strategy/strategies.

Tundra has made the assessment that corporate behaviour concerning ESG-related aspects will have a substantial impact on the long-term competiveness and should hence be taken into consideration. A company with a environmental policy is not only a prerequisite for a sustainable development, it also decreases the risk for future clean-up costs and production stoppages. Social aspects is another cornerstone in Tundra’s sustainability work. The way a company treats its employees affects its long term ability to attract appropriate skills within the work force. E.g. wages or working conditions that violates local laws or international conventions could also result in underestimations of long-term cost levels of a company. Analysis of business ethics and governance is a central component when investing in frontier markets; business ethics in management and members of the board is essential to assure financial returns over time. Improperly completed procurement processes involve a risk of revision and revenue loss at a later stage. Internal corruption drains the company’s operations of resources that could be used for investment or distribution to shareholders. 

01.3. If assets are managed using a combination of ESG incorporation strategies, briefly describe how these combinations are used. [Optional]


LEI 02. Type of ESG information used in investment decision (Private)


LEI 03. Information from engagement and/or voting used in investment decision-making (Private)


(A) Implementation: Screening

LEI 04. Types of screening applied

04.1. Indicate and describe the type of screening you apply to your internally managed active listed equities.

Type of screening

Screened by

Description

Tundra’s ESG process is governed by international standards of responsible investing. These include screening for “norm-based” violatioons, “controversial weapons” and “sector-based” breaches. Norm-based breaches include screening for breaches that are in contravention with the United Nations Global Compact, the guiding principles on Business and Human Rights, OECD Guidelines for Multinational Enterprises and the ILO Tripartite Declara[on of Principles concerning Multinational Enterprises and Social Policy. During this screening, companies’ adherence to international norms for human rights, the environment, labor standards and anti-corruption are assessed. 

Controversial weapons. During this screening, a company’s involvement with prohibited or banned weapons is assessed. There is a zero tolerance as far as these weapons are concerned. Companies with any involvement in controversial weapons are excluded from the fund.

For the Tundra Sustainable Frontier Fund there are additional sectors that are considered to be no-go areas in our sustainability universe. These are sectors involving alcohol, pornography, tobacco, weapons, gambling and extraction/production of fossil fuels. However, if the total revenue from a product from one of these sectors does not exceed 5%, the company may still  be eligible for the sustainable fund. 

Screened by

Description

Norm-based breaches include screening for breaches that are in contravention with the United Nations Global Compact, the guiding principles on Business and Human Rights, OECD Guidelines for Multinational Enterprises and the ILO Tripartite Declaration of Principles concerning Multinational Enterprises and Social Policy. During this screening, companies’ adherence to international norms for human rights, the environment, labor standards and anti-corruption are assessed. 

04.2. Describe how the screening criteria are established, how often the criteria are reviewed and how you notify clients and/or beneficiaries when changes are made.

Screening criteria are based on international standards of responsible investing, country- and sector specific research and established guidelines from external screening experts. We review our criteria continuously to ensure accuracy and that our efforts correspond to current standards.


LEI 05. Processes to ensure screening is based on robust analysis

05.1. Indicate which processes your organisation uses to ensure screening is based on robust analysis.

05.2. Indicate the proportion of your actively managed listed equity portfolio that is subject to comprehensive ESG research as part your ESG screening strategy.

05.3. Indicate how frequently third party ESG ratings are updated for screening purposes.

05.4. Indicate how frequently you review internal research that builds your ESG screens.

05.5. Additional information. [Optional]


LEI 06. Processes to ensure fund criteria are not breached (Private)


(B) Implementation: Thematic

LEI 07. Types of sustainability thematic funds/mandates

07.1. Indicate the type of sustainability thematic funds or mandates your organisation manages.

07.2. Describe your organisation’s processes relating to sustainability themed funds. [Optional]


(C) Implementation: Integration of ESG issues

LEI 08. Review ESG issues while researching companies/sectors

08.1. Indicate which ESG factors you systematically research as part of your investment analysis and the proportion of actively managed listed equity portfolios that is impacted by this analysis.

ESG issues

Proportion impacted by analysis
Environmental

Environmental

Social

Social

Corporate Governance

Corporate Governance

08.2. Additional information. [Optional]


LEI 09. Processes to ensure integration is based on robust analysis (Private)


LEI 10. Aspects of analysis ESG information is integrated into (Private)


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