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Danske Bank

PRI reporting framework 2019

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Engagement

LEA 02. Reasoning for interaction on ESG issues

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

02.4. Additional information. [Optional]


LEA 03. Process for identifying and prioritising engagement activities

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

03.1. Indicate whether your organisation has a formal process for identifying and prioritising engagements.

Indicate the criteria used to identify and prioritise engagements for each type of engagement.
Type of engagement
Criteria used to identify/prioritise engagements
Individual / Internal engagements

Internal / Individual engagements

Collaborative engagements

Collaborative engagements

03.3. Additional information. [Optional]


LEA 04. Objectives for engagement activities

New selection options have been added to this indicator. Please review your prefilled responses carefully.
Indicate whether you define specific objectives for your organisation’s engagement activities.
Individual / Internal engagements
Collaborative engagements

04.2. Additional information. [Optional]

We integrate ESG matters into the investment process as factors alongside financial factors. Based on external ESG data and information, and internal expertise and advice, we assess portfolio companies’ ESG performance, identify risks and opportunities, and engage through dialogue on material matters to support business growth and good governance and standards of conduct.

ESG data and information is available on our investment management platform. Portfolio managers receive support from internal and external subject-matter experts; participate in training and education programs; and share insights from company dialogue across the investment organisation. 

We believe that fund-manager-driven dialogue with portfolio companies is the most effective as the investment teams are the experts of their respective strategies and portfolios, and tasked with the buy/sell decision. Our investment teams engage on a regular basis with portfolio companies on material ESG matters to understand their risks and opportunities, and to support their growth and development.  We log and monitor company dialogue and progress to ensure a structured engagement process.

In 2018 a specific objective was therefore not set for our engagement activites due to our buttom-up process in our new strategy, but hence we are working with materiality for 2019 this will change towards being more specific in the engagament objectives. 


LEA 05. Process for identifying and prioritising collaborative engagement

Indicate if you monitor and/or review engagement outcomes.
Individual / Internal engagements
Collaborative engagements
Indicate if you do any of the following to monitor and review the progress of engagement activities.
Individual / Internal staff engagements
Collaborative engagements

05.3. Additional information [Optional]


LEA 06. Role in engagement process

06.1. Indicate whether your organisation has an escalation strategy when engagements are unsuccessful.

06.3. Additional information. [Optional]

Since we in 2018 prepared a new strategy, we have been on a journey towards implementing ESG inside all our processes, products and advisory. In late 2018 a ESG Integration Council was established. 

The ESG Integration Council is a sub-committee to our Sustainable Investment Committee with the mandate to a) Guide ESG strategy implementation, b) Evaluate ESG risk & dilemmas, c) Review and endorse ESG investment restrictions, d) Decide on collaborative engagements and e) Discuss and decide on other topics with relevance across investment management organization.

The ESG Integration Council has been created to support ESG integration into the core of our investment processes [rather than having it as a parallel process]. As ‘ESG Inside’ is about making better-informed investment decisions, addressing issues of risk and dilemmas alongside opportunities, and influencing portfolio companies through dialogue, the approach and decisions taken needs to be well anchored and strongly supported by the investment organization.

The process was finalized and approved in 2018, and the council had their first meeting in january 2019.

The council drives a "ESG Special Cases" process, where actions are discussed in relation to sectors, countries and single companies. The outcome can be monitor case, halt new investments, divest or impose investment restrictions. The actions taken can be close case, single engagement, collaborative engagement, voting or other active ownership initiatives. 


LEA 07. Share insights from engagements with internal/external managers

07.1. Indicate whether insights gained from your organisation's engagements are shared with investment decision-makers.

Type of engagement

Insights shared

Individual / Internal staff engagements

Collaborative engagements

07.2. Indicate the practices used to ensure information and insights collected through engagements are shared with investment decision-makers.

07.3. Indicate whether insights gained from your organisation’s engagements are shared with your clients/beneficiaries.

Type of engagement

Insights shared

Individual/Internal staff engagements

Collaborative engagements

07.4. Additional information. [Optional]


LEA 08. Tracking number of engagements

08.1. Indicate if you track the number of your engagement activities.

Type of engagement
Tracking engagements

Individual / Internal staff engagements

Collaborative engagements

08.2. Additional information. [OPTIONAL]


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