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PRI reporting framework 2020

Export Public Responses

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IFI 02. Due diligence policies and/or procedures for the selection of external investment managers

02.1. Indicate if you have due diligence policies and/or procedures in place for the selection of external investment managers in inclusive finance that take their approach to the following responsible investment issues (PIIF Principles) into account:

Actively supporting retail providers to innovate and expand the range of financial services available to low income people (Principle 1)

Integration of client protection in investment policies and practices. (Principle 2)

Treating investees fairly with appropriate financing that meets demand, clear and balanced contracts, and fair processes for resolving disputes. (Principle 3)

The inclusion of environmental, social and corporate governance (ESG) issues in investment policies and reporting. (Principle 4)

Active promotion of transparency in all aspects. (Principle 5)

Striving for a balanced long-term social and financial risk-adjusted return that recognises the interests of clients, retail providers and investors. (Principle 6)

Collaborating to set harmonised investor standards that support the further development of inclusive finance. (Principle 7)

02.2. Additional information. [Optional]

KLP's investments in inclusive finance are made through two partners:

- The Nordic Microfinance Initiative, a fund manager investing in microfinance institutions (MFIs).
- NorFinance, a joint investment company together with the Norwegian development finance institution Norfund as well as another private investor. NorFinance's investments are, from 2017, made through Arise, which is another joint investment company with more investors targeting a larger number of banks. Arise is investing in African banks with the objective to strengthen and develop effective, inclusive financial systems in Africa in order to contribute to economic growth and poverty reduction.

The PIIF principles are not explicitly mentioned in KLP's policies, but these topics are addressed in reviews, discussions and to some extent in reporting from our partners.