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KLP

PRI reporting framework 2019

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Pre-investment (selection)

PE 05. Incorporating ESG issues when selecting investments

05.1. During due-diligence indicate if your organisation typically incorporates ESG issues when selecting private equity investments.

05.2. Describe your organisation's approach to incorporating ESG issues in private equity investment selection.

KLP aims at addressing and assessing relevant ESG issues in every investment decisions in order to

1. inform investment decision and

2. identify topics/targets for potential ownership activities.

ESG related policies are reviewed.

05.3. Additional information. [Optional]


PE 06. Types of ESG information considered in investment selection

06.1. Indicate what type of ESG information your organisation typically considers during your private equity investment selection process.

06.2. Describe how this information is reported to, considered and documented by the Investment Committee or similar.

KLP's direct investments in private equity are made in power utility sector in Norway. Thus, there is little comparable public data and benchmarks that are useful in due diligence processes.

 


PE 07. Encouraging improvements in investees

07.1. During deal structuring,what is the process for integrating ESG-related considerations into the deal documentation and/or the post-investment action plan?.

If yes

07.2. Describe the nature of these improvements and provide examples (if any) from the reporting year

We had lengthy discussions internally with respect to direct investments in Oslofjord Varme and Stena Renewable AB. In both cases through dialogue with the other owners were the ESG policies updated.
 

07.3. Additional information. [OPTIONAL]


PE 08. ESG issues impact in selection process

08.1. Indicate how ESG issues impacted your private equity investment selection processes during the reporting year.

08.2. Indicate how ESG issues impacted your private equity investment deals during the reporting year.

08.3. Additional information. [OPTIONAL]

Attractive ESG profiles were an important part of the investment decision already from inception.


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