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PRI reporting framework 2020

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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


KLPs guidelines for responsible investments screening criteria:

ESG performance: human rights, labour rights, environment, corruption, business ethics

Product: Weapons that violate basic humanitarian principles, more than 5 percent of their revenues from coal- or oil sand-based activities (oil sand extraction, coal mining or coal-based power generation), produce more than 10,000 megawatts (MW) of energy from coal power, or extract more than 20 million tons of coal annually. 

Sector: Tobacco, alcohol, gambling services or pornography

The Nordic Ecolabelling applies additionally criteria on screening out all fossil fuels and weapons. 




Screened by


KLPs funds "Mer Samfunnsansvar" includes only companies that have a best in class performance on ESG. Information on the fund can be found on

Screened by

          UN and EU sanctions, international humanitarian law, relevant weapons-related conventions


Portfolios are screened for violations of the above mentioned norms. Companies that run an unacceptable risk of severe or systematic violations are excluded.

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

The overall guidelines are established by the KLP board. Screening criteria are reviewed continuously and altered when needed. Any changes are published on the website and communicated through relevant information channels. The most recent version of the guidelines was adopted in 2019.

Guidelines for KLP as a responsible investor:!/menu/standard/file/Guidelines%20for%20KLP%20as%20a%20responsible%20investor.pdf

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]

For exclusion decisions based on company conduct, KLP  generally requests a second opinion on the underlying analysis from a relevant external expert.

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.

KLP performs quartelry screenings, and have alert functions that will notify about changes. Companies that are not in line with Guidelines for KLP as a responsible Investor (!/menu/standard/file/Guidelines%20for%20KLP%20as%20a%20responsible%20investor.pdf) will be divested from and put on the KLP-list, a list of excluded companies. The internal IT systems will perform pre-check compliance so PMs are notified if they try to buy securities issued by companies on the KLP exclusion list. 

If an error occures so that a secutity from a company on the KLP-list is invested in, the position will be sold immidiately. The breach of KLPs Guidelines will be reported to the CEO of KLP Asset Management, Compliance, Risk Management, and Responsible Investment immediately and holdings in the excluded security will be sold. This will also be reported to the KLP board of directors in the KLP Asset Management annual mandate reporting.

06.3. Additional information. [Optional]