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

PRI reporting framework 2020

You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » (A) Implementation: Screening

(A) Implementation: Screening

FI 04. Types of screening applied

04.1. Indicate the type of screening you conduct.

Select all that apply
Corporate (financial)
Corporate (non-financial)
Negative/exclusionary screening
Positive/best-in-class screening
Norms-based screening

04.2. Describe your approach to screening for internally managed active fixed income

Folketrygdefondet's Nordic portfolio is subject to Norges Bank's decisions regarding the exclusion of companies from the investment universe of the Government Pension Fund Global. An overview of companies excluded from our investment universe is available here: http://www.folketrygdfondet.no/dialog/category338.html

Folketrygdfondet also subscribes to an ESG controversy alert service that notifies subscribers of potential breaches of international norms on ESG issues. This information is incorporated into our evaluation of the company or issuer.

04.3. Additional information. [Optional]


FI 05. Examples of ESG factors in screening process

05.1. Provide examples of how ESG factors are included in your screening criteria.

Type of fixed income

ESG factors

Screening

Description of how ESG factors are used as the screening criteria

Folketrygdfondet may not invest in companies that have been excluded pursuant to the Guidelines for observation and exclusion of companies from the Government Pension Fund Global.


The following companies are excluded from the investment universe of the Government Pension Fund Norway:

Swedish Match AB (19 January 2010)

 

05.2. Additional information.


FI 06. Screening - ensuring criteria are met

06.1. Indicate which systems your organisation has to ensure that fund screening criteria are not breached in fixed income investments.

Type of screening
Checks
Negative/exclusionary screening
Norms-based screening

06.2. Additional information. [Optional]

As noted in the previous responses, Folketrygdfondet is not involved in the screening process leading to Norges Bank's decisions on exclusion. Those decisions follow a comprehensive research process, as outlined in the previously provided links. The question seems to presume that Folketrygdfondet is responsible for assessing the quality of the research used to carry out this proceess. That is incorrect. Please refer to https://etikkradet.no/en/ for more information on the Council on Ethics' organizational structure.

Folketrygdfondet also uses an external service provider to screen all investments for ESG controversies.


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