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Storebrand Asset Management

PRI reporting framework 2020

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Innovation [SG 18] Communication [SG 19]
Indirect – Manager Selection, Appointment and Monitoring
Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (B) Implementation: Thematic [LEI 07] (C) Implementation: Integration of ESG factors [LEI 08 - 10] ESG incorporation in passively managed listed equities [LEI 11] Outputs and outcomes [LEI 12 - 13]
Direct - Listed Equity Active Ownership
Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 06] (B) Implementation: Thematic [FI 07 - 09] (C) Implementation: Integration [FI 10 - 12] ESG incorporation in passively managed fixed income [FI 13] Fixed income - Engagement [FI 14 - 16] Outputs and outcomes [FI 17 - 18]
Direct - Property
Overview [PR 01] Fundraising of property funds [PR 02 - 03] Pre-investment (selection) [PR 04 - 06] Selection, appointment and monitoring third-party property managers [PR 07] Post-investment (monitoring and active ownership) [PR 08 - 14] Overview [PR 08] Property monitoring and management [PR 09 - 10] Property developments and major renovations [PR 11] Occupier engagement [PR 12 - 13] Community engagement [PR 14] Outputs and outcomes [PR 15 - 16]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes » (C) Implementation: Integration of ESG factors

C) 実施: 統合

LEI 08. Review ESG issues while researching companies/sectors

08.1. E・S・Gの各要因が投資分析の一環として体系的に調査されている、アクティブ運用の上場株式ポートフォリオの割合を記載してください。

ESG問題
影響を受ける割合
E（環境）

E（環境）

S（社会）

S（社会）

コーポレートガバナンス

コーポレートガバナンス

08.2. 補足情報 [任意]

Our In house Sustainable Investment team performs annual analyses of

- The most important ESG international trends, based on literature review

- The KPI's used (E,S and G) used in company SDG (Sustainable Development Goals) analyses. The company SDG analyses conducted in addition to Sustainalytics ESG score are the basis for the internal Sustainability rating of 0-100.

External financial research providers only occasionally review the potential significance of ESG issues.

The Norwegian equities team performs an ongoing analyses of portfolio companies, primarily on corporate governance issues.

The ESG ratings are readily available to all fund managers in their internal data systems and are used actively in investment decision making.

 

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

09.1. ESG統合が徹底した分析に基づいていることを確実にするために、組織が使用しているプロセスを記載してください。

09.2. 組織の統合戦略の一環で包括的ESG調査の対象になるアクティブ運用上場株式の割合を記載してください。

09.3. ESG統合戦略に使われる第三者のESG評価が更新される頻度を示してください。

09.4. ESG統合戦略に使われる組織内調査を見直す頻度を示してください。

09.5. ポートフォリオ・マネージャーがどのようにしてESG情報を保有し、使っているのか説明してください。

09.6. 補足情報　[任意]

- Company information from external provider updated quarterly

- Continual update of internal rating analysis based on updates in data from external providers

-Annual fund review meetings where fund performance is discussed including standard agenda point on ESG performance and integration.

LEI 10. Aspects of analysis ESG information is integrated into

この指標には新しい設問が追加されています。事前に入力されている回答を精査してください。

10.1. 投資分析のどの側面にESG情報を統合しているかを記載してください。

アクティブ運用する上場株式の内投資分析をする割合

アクティブ運用する上場株式の内投資分析をする割合

アクティブ運用する上場株式の内投資分析をする割合

アクティブ運用する上場株式の内投資分析をする割合

アクティブ運用する上場株式の内投資分析をする割合

10.3. ESG情報をポートフォリオの加重にどう統合しているかを説明してください。

Storebrand operates with both overall company targets and fund specific targets for clean technology and renewable energy. The company target is 8% of AUM by 2020 and 15% of AUM by 2025. 

Actual results for Equities in 2019: 24.3 billion NOK invested in solution companies or 9.3% of total equity investments.

An example of the fund level target is the Plus fund family of Equities funds where 5-10% portfolio weighting is dedicated to clean technology and renewables companies. The selection of these companies comes from external data providers and is quality assured by the sustainable investment team.

In addition portfolio weighting for fossil free funds is significantly affected by the fossil producers analysis that effectively rules out most of the Energy sector and much of the Utility ssector and thus has a large effect on sector weightings within these portfolios.

10.6. 補足情報 [任意]

ESG issues influence investment decision processes in numerous ways: - group level target for average sustainability rating provides an incentive for PMs to increase average sustainability rating, and subsequently corporate issuers with a low sustainability rating relative to peers will be less attractive to portfolio managers, and corporate issuers with a high sustainability rating relative to peers will be more attractive.

  • Funds, Fund selection and Product Development Departments set specific targets for each portfolio's average sustainability rating
  • Labelling of Funds on fund platforms provide benchmarking and quarterly updates of sustainability fund ratings -
  • nvestments below a certain Sustainability Rating threshold trigger a review between the PM and the Sustainability team, where alternative investments are considered.
  • Controversial issues are discussed with responsible PMs.
  • Engagement processes involve PMs
  • Design and selection of KPIs for the Sustainability Rating is discussed with relevant PMs
  • Sustainability Ratings are available to PM teams for in-house research, benchmarking etc.
  • Excluded corporate issuers are non-investable
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