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Carnegie Fonder AB

PRI reporting framework 2020

You are in Direct - Listed Equity Incorporation » Outputs and outcomes

Outputs and outcomes

LEI 12. How ESG incorporation has influenced portfolio composition

12.1. Indicate how your ESG incorporation strategies have influenced the composition of your portfolio(s) or investment universe.

Describe any reduction in your starting investment universe or other effects.

Carnegie Fonder has an exclusion policy that covers the following sectors: tobacco, pornography, alcohol, weapons or war material, anti-personnel mines, cluster bombs, chemical and biological weapons as well as nuclear weapons. The mentioned industries are excluded in all our funds; however, the majority of our funds also exclude commercial gambling and coal. Each fund manager is welcome to narrow down the investment universe further by excluding fossil fuels for example. Current sector exclusions on fund level may be found here: https://www.carnegiefonder.se/app/uploads/file-manager/pdfer/Ansvarsfulla%20investeringar/Branschdefinitioner.pdf

The effect on the available universe and portfolios is insignificant, and we deem these exclusions to have a positive, rather than negative, effect on performance in the long term.

Specify the percentage reduction (+/- 5%)

5 %

Select which of these effects followed your ESG integration.

12.2. Additional information.[Optional]

We firmly believe that more well informed investment decisions, taking into account relevant and material ESG-factors, will help us make better investments, with a positive effect on our long term performance.


LEI 13. Examples of ESG issues that affected your investment view / performance

13.1. Provide examples of ESG factors that affected your investment view and/or performance during the reporting year.

ESG factor and explanation

Money laundering issues in the Nordic banks - Swedbank

ESG incorporation strategy applied Screening|Integration

Impact on investment decision or performance

Ongoing investigations into the Swedish bank Swedbank caused the funds holding the stock to reduce the exposure to it.

ESG factor and explanation

Share of fossil fuels and renewables used by power generation company Stockholm Exergi.

ESG incorporation strategy applied Screening|Integration

Impact on investment decision or performance

The company's share of renewables far outweighs their share of fossil fuels and they also have a clear plan to completely phase out fossil fuels in their production. The impact was that the holding fulfil our criteria for transition cases and thus eligible for funds with exclusion of fossil fuel companies.

ESG factor and explanation

In-depth ESG analysis on company Duni, focus on emissions and resource efficiency.

ESG incorporation strategy applied Integration

Impact on investment decision or performance

The responses to our questions along with the analysis reinforced our view of the company of having good ESG profile and thus led us to maintain our significant exposure to it.

ESG factor and explanation

Money laundering issues in the Nordic banks - Danske Bank

ESG incorporation strategy applied Screening|Integration

Impact on investment decision or performance

A possible investment into Danske Bank was evaluated during the year with the outcome that the risks and uncertainties were to high to warrant an investment. The investment decision was to not invest.

13.2. Additional information.[Optional]


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