This report shows public data only. Is this your organisation? If so, login here to view your full report.

Formuepleje

PRI reporting framework 2020

You are in Indirect – Manager Selection, Appointment and Monitoring » Outputs and outcomes

Outputs and outcomes

SAM 08. Percentage of externally managed assets managed by PRI signatories (Private)


SAM 09. Examples of ESG issues in selection, appointment and monitoring processes

09.1. Provide examples of how ESG issues have been addressed in the manager selection, appointment and/or monitoring process for your organisation during the reporting year.

Topic or issue
          Money Laundering
        
Conducted by
Asset class
Scope and process

Money Laudring and compliance in especially nordic banks have been a massive topic in 2019. Formuepleje have followed the process closely, discussing the topic in our ESG Committee with research from our ESG provider. We have been in dialouge with all of our external investment advisors regarding money laundering in banks. We have asked for a review of the investments in banks and discussed the different issues and risk of money laundring on our regular meetings. One of the investment managers have also been engaging with a larger Danish bank regarding risk of money laundering.

Outcomes

We have seen improvement in the compliance in general and in the AML in particular.

Topic or issue
          A larger Russian company has been linked to severe air, water and land contamination
        
Conducted by
Asset class
Scope and process

Screening from our external ESG provider placed the company on the watch list. We took contact to the investment manager who gave a review of their due diligence and we investigated the issue our self with the help of in depth research from our ESG provider on several of our russian companies.

Outcomes

Due to the company’s proactive response to the controversy and its commitment to significantly reduce emissions by 2023, we decided to keep the investment. Not only the ESG issue within the particular company, has been discussed with our manager, but also ESG in Russia in general, the challanges they face at the moment and the long term risk trends as well.

Topic or issue
          General Manager Monitoring
        
Conducted by
Asset class
Scope and process

During 2019 we have improved and formalized our monitoring of the external investment managers. The ESG Commitee have held seperat meeting with each manager regarding their ESG process and presented the new setup at Formuepleje. Monthly and quarterly meetings are held with our managers where ESG is a highly prioritized topic. Screening results are discussed as well as engagements and generel ESG issues faced in the portfolio, and how the manager handles these issues.

Outcomes

All managers have a better understanding of the ESG policy at Formuepleje.

09.2. Additional information.


Top