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Norwegian Government Pension Fund Norway (Norwegian Ministry of Finance and Folketrygdfondet)

PRI reporting framework 2020

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Outputs and outcomes

LEA 09. Number of companies engaged with, intensity of engagement and effort

Indicate the proportion of companies in your listed equities portfolio with which your organisation engaged during the reporting year.
We did not complete any engagements in the reporting year.

Number of companies engaged

(avoid double counting, see explanatory notes)

Proportion of companies engaged with, out of total listed equities portfolio

Individual / Internal staff engagements

226
80

Collaborative engagements

5
4

09.2. Indicate the breakdown of engagements conducted within the reporting year by the number of interactions (including interactions made on your behalf).

No. of interactions with a company
% of engagements
One interaction
2 to 3 interactions
More than 3 interactions
Total
100%

09.3. Indicate the percentage of your collaborative engagements in which you were the leading organisation during the reporting year.

Type of engagement

% leading role
  Collaborative engagements

09.5. Additional information. [Optional]

Measures for the number of collaborative engagements and the number of interactions per company are approximate as we do not use the PRI categories for the statistics reported in the Folketrygdfondet ownership report. Please note as well that the proportion of companies engaged with above is based on the number of companies, not their relative market value in the portfolio.


LEA 10. Engagement methods

10.1. Indicate which of the following your engagement involved.

10.2. Additional information. [Optional]

Folketrygdfondet's engagement statistics include only meetings or 1:1 phone conversations with companies in the Norwegian market (athough we often use e-mail and/or letters to arrange a meeting). We do not generally include meetings with IR alone, which comprises much of our dialogue with companies in the other Nordic countries. We also do not generally include participation in roadshows in the statistics or corporate access events involving other investors and sell side analysts. For example, an email followed up with a meeting is logged as a single meeting.


LEA 11. Examples of ESG engagements

11.1. Provide examples of the engagements that your organisation or your service provider carried out during the reporting year.

ESG Topic
Other governance
Conducted by
Objectives

Well-founded strategic priorities are a prerequisite for efficient capital utilisation and profitability over time. That is why we expect the portfolio companies to adopt long-term financial targets and communicate these clearly to the market. We also see this as important for long-term value creation.

Scope and Process

In 2019, Folketrygdfondet prioritised dialogue with the managements and/or the board chairs of companies with the greatest potential for improvement. 

Outcomes
ESG Topic
Climate Change
Conducted by
Objectives

Folketrygdfondet engaged in 2019 in a collaborative dialogue with other Norwegian investors with companies in industries particularly exposed to climate risk.

Scope and Process

Engaged in dialogue with Norwegian companies in the real estate, construction, and transportation sectors.

Outcomes
ESG Topic
Climate Change
Conducted by
Objectives

Beginning in 2018, Folketrygdfondet engaged in a collaborative dialogue with other Norwegian investors with companies in industries particularly exposed to climate risk.

Scope and Process

During 2018, Folketrygdfondet met with companies in the energy, oil service, materials and consumer staples industries to learn how they identify and assess climate risk. We observed several examples of improvement in 2019.

Outcomes

11.2. Additional information. [Optional]


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