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

Sparebank 1 Forsikring AS

PRI reporting framework 2020

Export Public Responses
Pdf-img

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

Monitoring

SAM 05. Monitoring processes (listed equity/fixed income)

05.1. When monitoring managers, indicate which of the following types of responsible investment information your organisation typically reviews and evaluates

ESG objectives linked to investment strategy (with examples)

Evidence on how the ESG incorporation strategy(ies) affected the investment decisions and financial / ESG performance of the portfolio/fund

Compliance with investment restrictions and any controversial investment decisions

ESG portfolio characteristics

How ESG materiality has been evaluated by the manager in the monitored period

Information on any ESG incidents

Metrics on the real economy influence of the investments

PRI Transparency Reports

PRI Assessment Reports

RI-promotion and engagement with the industry to enhance RI implementation

Changes to the oversight and responsibilities of ESG implementation

Other general RI considerations in investment management agreements; specify

None of the above

LE

FI - SSA
FI - Corporate (financial)
FI - Corporate (non-financial)
ESG objectives linked to investment strategy (with examples)
Evidence on how the ESG incorporation strategy(ies) affected the investment decisions and financial / ESG performance of the portfolio/fund
Compliance with investment restrictions and any controversial investment decisions
ESG portfolio characteristics
How ESG materiality has been evaluated by the manager in the monitored period
Information on any ESG incidents
Metrics on the real economy influence of the investments
PRI Transparency Reports
PRI Assessment Reports
RI-promotion and engagement with the industry to enhance RI implementation
Changes to the oversight and responsibilities of ESG implementation
Other general RI considerations in investment management agreements; specify
None of the above

If you select any `Other` option(s), specify

We are looking into using PRI Transparency and Assessment Reports in the coming years. The most important for us are regular meeting and discussions with managers.

05.2. When monitoring external managers, does your organisation set any of the following to measure compliance/progress

ESG score or assessment

ESG weight

ESG performance minimum threshold

Real world economy targets

Other RI considerations

None of the above

LE

FI - SSA
FI - Corporate (financial)
FI - Corporate (non-financial)
ESG score
ESG weight
ESG performance minimum threshold
Real world economy targets
Other RI considerations
None of the above

If you select any `Other` option(s), specify

Other RI considerations: investment in companies that do have/working on the solution to the most critical challenges we face: climate change/ Energy/transportation, water, waste, social inclusion/equality and other SDGs.

05.3. Provide additional information relevant to your organisation`s monitoring processes of external managers. [OPTIONAL]

          Even though sustainability themes have been a key feature in our portfolios, we have stepped up our efforts in terms of resources, system support and analytical tools. This has given us a better understanding of the quality of our portfolio as well as potential problem areas. With this, we can work more systematically and purposefully on these issues in our manager dialogue. At the same time, we acknowledge the fact that today’s quality of data is not good enough for decision-making, but can be used carefully as a monitoring tool. The data is typically static and backward-looking, without the capacity to monitor future change, which must be the purpose of responsible investments.

We have established a process of monitoring external managers’ level of integration of ESG including their active ownership, and we have developed internal scorecards for monitoring ESG risks based on inputs from public sources in a more systematic way. We continuously evaluate managers and our portfolio composition, and we will not hesitate to withdraw the mandate from a manager if we are dissatisfied with their understanding of future sustainability risks.
We strive to continuously improve our process for extra quality assurance and reporting on ESG factors: 
•	Screening - screening of known ESG factors in the funds based on data input from Sustainalytics and NBIM’s exclusion list
•	Sorting - sorting and processing of data material from the above and other sources
•	Evaluation - analysis and risk assessment, evaluation if something new should immediately be addressed with a manager 
•	Dialogue and follow-up - based on our assessment of material risk. We have a close and continuous interaction with our managers as they are part of our “investment team”
•	Assessing the impact of cooperation and dialogue
        

SAM 06. Monitoring on active ownership (listed equity/fixed income)

06.1. When monitoring managers, indicate which of the following active ownership information your organisation typically reviews and evaluates from the investment manager in meetings/calls

Engagement

Report on engagements undertaken (summary with metrics, themes, issues, sectors or similar)

Report on engagement ESG impacts (outcomes, progress made against objectives and examples)

Information on any escalation strategy taken after initial unsuccessful dialogue

Alignment with any eventual engagement programme done internally

Information on the engagement activities’ impact on investment decisions

Other RI considerations relating to engagement in investment management agreements; specify

None of the above

LE

FI - SSA
FI - Corporate (financial)
FI - Corporate (non-financial)
Report on engagements undertaken (summary with metrics, themes, issues, sectors or similar)
Report on engagement ESG impacts (outcomes, progress made against objectives and examples)
Information on any escalation strategy taken after initial unsuccessful dialogue
Alignment with any eventual engagement programme done internally
Information on the engagement activities’ impact on investment decisions
Other RI considerations relating to engagement in investment management agreements; specify
None of the above

If you select any `Other` option(s), specify

We expect our managers to be ahead of any observed ESG risk. We are forwarding different concerns around ESG issues and require our managers to follow up and engage with the spesific companies.

(Proxy) voting

Report on voting undertaken (with outcomes and examples)

Report on rational of voting decisions taken

Adherence with the agreed upon voting policy

Other RI considerations relating to (proxy) voting in investment management agreements; specify

None of the above

LE

Report on voting undertaken (with outcomes and examples)
Report on voting decisions taken
Adherence with the agreed upon voting policy
Other RI considerations relating to (proxy) voting in investment management agreements; specify
None of the above

If you select any `Other` option(s), specify

For us quality of (proxy) voting is more important than quantity. We dislike use of 3d party institions in voting. We expect our managers to engage with companies before voting. We demand high standards in stewardship from our managers. Voting reports are included in their reports to us.


SAM 07. Percentage of (proxy) votes

07.1. For the listed equities for which you have given your external managers a (proxy) voting mandate, indicate the approximate percentage (+/- 5%) of votes that were cast during the reporting year.

07.2. For the listed equities for which you have given your external managers a mandate to engage on your behalf, indicate the approximate percentage (+/- 5%) of companies that were engaged with during the reporting year.

Number of companies engaged
100 Proportion (to the nearest 5%)

07.3. Additional information [OPTIONAL]

          We believe that active managers in their daily decision-making are in a better position to influence current business practice as well as the future direction of companies and industries where there are sustainability issues. Our fund managers typically know their companies and management very well, and are in a better position to influence and impact on a higher strategic level through their ownership discussions. Our managers have typically contributed to improvements in corporate governance practices and the process of managing social and environmental risks in many companies. 
Most of our managers do report to us both data: Their report typically include the amount of vote that were cast during the year as well as the amount of engagement and description of issues, but currently we do not summarize it one overview (therefore report 100). We prefer discuss spesific voting or engagement cases, rather than calculating and summerizing it in numbers, that do not actually show if the practisis is done in a good way.
        

Top