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Ohman Fonder

PRI reporting framework 2020

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Innovation [SG 18] Communication [SG 19]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (C) Implementation: Integration of ESG factors [LEI 08 - 10] ESG incorporation in passively managed listed equities [LEI 11] Outputs and outcomes [LEI 12 - 13]
Direct - Listed Equity Active Ownership
Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 06] (B) Implementation: Thematic [FI 07 - 09] (C) Implementation: Integration [FI 10 - 12] ESG incorporation in passively managed fixed income [FI 13] Fixed income - Engagement [FI 14 - 16] Outputs and outcomes [FI 17 - 18]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Direct - Listed Equity Active Ownership » Outputs and outcomes

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

26
1

Collaborative engagements

305
13
Service-provider engagements
25
1

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

09.4. Indicate the percentage of your service-provider engagements in which you had some involvement during the reporting year.

Type of engagement
% of engagements with some involvement
Service-provider engagements

09.5. Additional information. [Optional]

LEA 10. Engagement methods

10.1. Indicate which of the following your engagement involved.

10.2. Additional information. [Optional]

A normal engagement process starts with a letter to the company (IR) adressing the issue and asking for a meeting. If the dialogue is contstructive and fruitful we keep talking to IR or the person most relevant to talk to within the company. If a company is reluctant to talk to us we address the CEO or Chair person. We also seek to work togehter with other investors when a case is challenging.   

Engagement cases are discussed within the esg-team on a weekly basis. On a need-to-do basis we discuss the the most relevant fund managers. 

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
General ESG|Sustainability reporting
Conducted by
Objectives

A swedish micro cap company. Our aim was to convince the company to launch a project with the ambition to develop a sustainability strategy. 
Scope and Process

During the year we initiated a dialogue with the biotech company. The company is in a development phase and we have discussed at meetings how the company can establish and develop a sustainability strategy. During the year, the company decided to conduct a stakeholder dialogue and materiality analysis something that Öhman encouraged, which we believe is positive for their continued work.
Outcomes
ESG Topic
Climate Change|Company leadership issues|Pollution|Sustainability reporting|Labour practices and supply chain management|Other

specify
Conducted by
Objectives

Öhman engages in a dialogue with a number of major players in the fishing industry to improve their work on responsible fishing
The project aims in particular to strengthen the companies' efforts to manage environmental risks related to fisheries and aquaculture, such as overfishing, biodiversity, energy consumption and the presence of chemicals and antibiotics, and increase transparency around this.
Scope and Process

Since the beginning of 2018, several meetings have been held with the six companies. They have shown a general openness and willingness to enter into a dialogue with us investors. In 2019, all companies have improved one or two steps. All companies now meet the CPI for sustainable fisheries policy. This also means that compared to the base report from June 2018, all companies have now shown improvements. The three best-performing companies all have a solid commitment to sustainable fishing, which is manifested either in a formal policy or code of conduct, together with a thorough process for risk assessment and risk management. The criterion where all companies are weak is about the supply chain. Failure to control the risks of subcontractors poses a serious risk to a company. Our experience shows that companies have more in place than what is published publicly. Openness is the key because it is the way they can show that they are taking responsibility. Since we started the dialogues, half of the companies have reported an increased number of certified production facilities according to ASC (Aquaculture Stewardship Council).
Outcomes
ESG Topic
Climate Change|Sustainability reporting|Other

specify
Conducted by
Objectives

Climate change is one of the biggest risks we as long-term investors face. Although many companies have officially endorsed the Paris Agreement and published climate commitments, they also fund industry organizations that actively oppose political solutions that are crucial to a fair transition to a future climate-smart economy. We want companies to ensure that they do not support these organizations. We want to see greater transparency from our portfolio companies. We want to know if they are members of organizations working towards important political changes. The objective is to get the companies : • identify all climate policy commitments undertaken by the company, directly or indirectly • assess whether the commitments are adapted to the company's position for climate change • assess whether the commitments support cost-effective climate measures to mitigate

 
Scope and Process

In 2019, we have focused our dialogues on four Swedish companies, all of which are members of the National Association of Manufactures (NAM). NAM is one of America's largest corporate networks and lobbying organizations with over 14,000 companies as members. Among other things, NAM supported the US withdrawal from the Paris Agreement. They are working to repeal climate legislation that has already been introduced, including the US Clean Power Plan. Of the four companies, only one publicly reports membership in NAM. None of the companies report how to act in cases where an organization you are a member of acts in a way that is not in line with the company's attitude. The dialogues do not develop in the way we wish.
Outcomes
ESG Topic
Human rights|Sustainability reporting|Labour practices and supply chain management
Conducted by
Objectives

The target company is a global leader in e-commerce. The aim is to get the company to adopt and publicly disclose a comprehensive policy to respect human rights, including ensuring safe and healthy workplaces; prohibiting discrimination and retaliation; affirming the right of workers to form and join trade unions and bargain collectively; and describing the process the Company will use to identify, assess, prevent, mitigate, and, where appropriate, address adverse human rights impacts.
Scope and Process

The dialogue was initiated late 2018. During 2019 we have had several meetings with the company. Both individually and also collalboratively. During the summer we launched a collaborative initiative in PRI to collect signatures to a letter. In the letter we asked for a meeting to top-management to discuss human rights. By the end of the year we filed a resolution.  
Outcomes

11.2. Additional information. [Optional]

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