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Carnegie Fonder AB

PRI reporting framework 2020

You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes » (A) Implementation: Screening

(A) Implementation: Screening

LEI 04. Types of screening applied

04.1. Indicate and describe the type of screening you apply to your internally managed active listed equities.

Type of screening

Screened by

Description

We exclude companies involved in controversial weapons, e.g. cluster bombs and landmines, adult entertainment, alcohol and tobacco in all funds. Potential exposure to exluded sectors is checked in an external database managed by our service provider Sustainalytics before investment (pre-screening) and reconfirmed by the same provider bi-annually in the form of full screening of all fund portfolios (reconfirmation). For a full list of exclusion criterias and definitions, please see https://www.carnegiefonder.se/investeringsfilosofi/4-screening-och-exkludering/ (only available in Swedish at this point in time).

Screened by

Description

As active managers, we do our best to identify and avoid companies that behave improperly. In addition to maintaining close and regular dialogue with our holdings, we engage an external consultant to review our portfolio in terms of adherence to internationally agreed and generally accepted conventions and norms. This is conducted before we invest, reconfirmed twice annually in the form of full screening of all fund portfolios as well as alerts of any allegations in between the formally scheduled screenings.

If we receive information that a holding does not live up to our requirements, the Responsible Investment Board takes action in consultation with the relevant fund manager. We have a number of possible courses of action:

  • The manager seeks additional information and discusses the holding with the Responsible Investment Board.
  • The manager contacts the company with regard to our issues.
  • Carnegie Fonder’s CEO makes more formal contact with the holding’s CEO or chairman.
  • We contact other shareholders for joint ownership dialogue.
  • If the response is not satisfactory, and the company does not show an adequate willingness to change, we can choose to divest the holding.

04.2. Describe how you notify clients and/or beneficiaries when changes are made to your screening criteria.

The screening criteria is evaluated on an ongoing basis and at least annually by Carnegie Fonder's Responsible Investments Board. If changes are made, clients are notified on our homepage.


LEI 05. Processes to ensure screening is based on robust analysis

05.1. Indicate which processes your organisation uses to ensure ESG screening is based on robust analysis.

05.2. Indicate the proportion of your actively managed listed equity portfolio that is subject to comprehensive ESG research as part your ESG screening strategy.

05.3. Indicate how frequently third party ESG ratings are updated for screening purposes.

05.4. Indicate how frequently you review internal research that builds your ESG screens.

05.5. Additional information. [Optional]


LEI 06. Processes to ensure fund criteria are not breached

06.1. Indicate which processes your organisation uses to ensure fund criteria are not breached.

06.2. If breaches of fund screening criteria are identified, describe the process followed to correct those breaches.

If a breach is identified the Chief Investment Officer (CIO) is notified. The CIO discusses the matter with the concerned portfolio manager who gives his/her view of the company and the violation. The CIO reports to the Responsible Investment Board. If the portfolio manager, the CIO and the board accept the company’s action plan for remediation of the issue, the company will not be divested. If the response is not satisfactory, and the company does not show an adequate willingness to change, we may choose to divest the holding.

06.3. Additional information. [Optional]


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