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PKA

PRI reporting framework 2020

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You are in Direct - Listed Equity Incorporation » ESG incorporation in actively managed listed equities » Implementation processes

Implementation processes

LEI 01. Percentage of each incorporation strategy

01.1. Indicate which ESG incorporation strategy and/or combination of strategies you apply to your actively managed listed equities; and the breakdown of your actively managed listed equities by strategy or combination of strategies.

ESG incorporation strategy (select all that apply)

Percentage of active listed equity to which the strategy is applied — you may estimate +/- 5%
100 %
Total actively managed listed equities 200%

01.2. Describe your organisation’s approach to ESG incorporation and the reasons for choosing the particular strategy/strategies.

PKA’s recent efforts to invest responsible is about the ability to maximize the amount that beneficiaries will have in retirement but also about the world that they will retire into.Our ESG investments have attractive risk-adjusted returns and allow us to have a more diversified portfolio strategy. At the same time, it gives us the opportunity to make a positive impact on the climate change.  

01.3. If assets are managed using a combination of ESG incorporation strategies, briefly describe how these combinations are used. [Optional]

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LEI 02. Type of ESG information used in investment decision (Private)


LEI 03. Information from engagement and/or voting used in investment decision-making (Private)


(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

PKA screens the portfolio covering the above mentioned. This includes, amongst other, coal activities, tobacco manufacturing, and controversial weapons manufacturing/retail. Others are excluded based on engagements, such as oil and gas production companies, transporation companies, or companies with corporate governance, human rights and labor rights related issues.

Screened by

Description

ESG-rating from MSCI is integrated in PKA's equity portfolio, which is tilted 15% towards companies with an ESG-score above benchmark.

Screened by

Description

PKA screens its portfolio to ensure that all companies in which there are investments adhere to above mentioned. If breaches are found we use dialogue to contravene this behavior, and if the behavior is not changed, the company/holding will be sold off and excluded from the investment universe

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

The screening criteria is a part of PKA's policies and guidelines and hence approved by the boards. The criteria are reviewed on an ad.hoc. basis and the boards are notified of any changes as well as approving new guidelines and policies on an annual basis.


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.

05.5. Additional information. [Optional]

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LEI 06. Processes to ensure fund criteria are not breached (Private)


(B) Implementation: Thematic

LEI 07. Types of sustainability thematic funds/mandates

07.1. Indicate the type of sustainability thematic funds or mandates your organisation manages.

07.2. Describe your organisation’s processes relating to sustainability themed funds. [Optional]


(C) Implementation: Integration of ESG factors

LEI 08. Review ESG issues while researching companies/sectors

08.1. Indicate the proportion of actively managed listed equity portfolios where E, S and G factors are systematically researched as part of your investment analysis.

ESG issues

Proportion impacted by analysis
Environmental

Environmental

Social

Social

Corporate Governance

Corporate Governance

08.2. Additional information. [Optional]

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

09.1. Indicate which processes your organisation uses to ensure ESG integration is based on robust analysis.

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

09.3. Indicate how frequently third party ESG ratings that inform your ESG integration strategy are updated.

09.5. Describe how ESG information is held and used by your portfolio managers.

          ESG information is presented at PM meetings.
        

09.6. Additional information. [Optional]

Our service provider Hermes EOS employs its research partner Sustainalytics to ensure screening of issuers is based on robust analysis. Hermes EOS analysts provide an independent, engagement perspective which complements Sustainalytics' rigorous approach to company research which ensures that the screening services provided to us are not only based on thorough research but also take into account company circumstances and engagement considerations. At Sustainalytics, comprehensive research is undertaken or sourced to determine issuers' ESG performance. Issuers are given the opportunity by Sustainalytics to review ESG research on them and correct inaccuracies. External research and data used to identify issuers to be excluded/included is subject to internal audit by its staff. Information on ESG issues and/or ratings is updated regularly to ensure that portfolio holdings comply with fund policies. A periodic review of the quality of the research undertaken and provided is carried out at Sustainalytics.For all of its company ESG research, Sustainalytics contacts companies directly and asks them to provide feedback on their company ESG report. This process aims to give companies an opportunity to provide Sustainalytics with additional inputs in regard to some of their ESG management systems and policies and correct any potential inaccuracies. 


LEI 10. Aspects of analysis ESG information is integrated into (Private)


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