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KLP

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] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Indirect – Manager Selection, Appointment and Monitoring
Listed Equity and Fixed Income Strategies [SAM 01] Selection [SAM 02 - 03] Appointment [SAM 04] Monitoring [SAM 05 - 07] Outputs and outcomes [SAM 08 - 09]
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] (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]
Direct – Private Equity
Overview [PE 01 - 02] Pre-investment (selection) [PE 05 - 08] Post-investment (monitoring) [PE 09 - 13] Outputs and outcomes [PE 14 - 15]
Direct - Property
Overview [PR 01] Pre-investment (selection) [PR 04 - 06] Selection, appointment and monitoring third-party property managers [PR 07] Post-investment (monitoring and active ownership) [PR 08 - 14] Overview [PR 08] Property monitoring and management [PR 09 - 10] Property developments and major renovations [PR 11] Occupier engagement [PR 12 - 13] Community engagement [PR 14] Outputs and outcomes [PR 15 - 16]
Indirect - Inclusive Finance
Context [IFI 01] Selection [IFI 02] Contractual agreements and mandate design [IFI 03] Investment manager monitoring and reporting [IFI 04 - 05] Disclosure [IFI 06 - 07]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Direct - Fixed Income » ESG incorporation in actively managed fixed income » Implementation processes

実施プロセス

FI 01. Incorporation strategies applied

以下を記載してください。 （1）組織でアクティブ運用する債券投資について、どのESG組み入れ戦略や組み合わせを使用しているか（2）各戦略が適用されるアクティブ運用債券投資合計の割合（+/- 5%）
SSA
95 スクリーニングのみ
0 テーマのみ
0 統合のみ
5 スクリーニング + 統合戦略
0 テーマ + 統合戦略
0 スクリーニング + テーマ戦略
0 3つの戦略すべての組み合わせ
0 組み入れ戦略を適用していない
100%
社債（金融）
95 スクリーニングのみ
0 テーマのみ
0 統合のみ
5 スクリーニング + 統合戦略
0 テーマ + 統合戦略
0 スクリーニング + テーマ戦略
0 3つの戦略すべての組み合わせ
0 組み入れ戦略を適用していない
100%
社債（非金融）
95 スクリーニングのみ
0 テーマのみ
0 統合のみ
5 スクリーニング + 統合戦略
0 テーマ + 統合戦略
0 スクリーニング + テーマ戦略
0 3つの戦略すべての組み合わせ
0 組み入れ戦略を適用していない
100%
証券化商品
95 スクリーニングのみ
0 テーマのみ
0 統合のみ
5 スクリーニング + 統合戦略
0 テーマ + 統合戦略
0 スクリーニング + テーマ戦略
0 3つの戦略すべての組み合わせ
0 組み入れ戦略を適用していない
100%

01.2. 特定のESG組み入れ戦略を選択している理由と、使用する戦略の組み合わせを説明してください。

As our ESG policy is primarily norm-based, it is important to screen 100% of our investments. We engage with issuers when an ESG controversy arises and ESG factors are considered when deciding on a line of credit. For the active fixed income portfolios covering the Norwegian market there is a contniues monotoring of the issuers. 

In 2019 KLP startet to funds that are ecolabelled by The Nordic Ecolabelling. The criterias for the ecolabelling includes screening for products and norm-based criterias, selection of companies with a good ESG-rating, engagement, voting and reporting.

 

01.3. 補足情報 [任意]

FI 02. ESG issues and issuer research

02.1. 発行体に対する分析の一部として体系的に調査するESG要因を明示してください。

SSA
社債（金融）
社債（非金融）
証券化商品
環境データ
社会的データ
ガバナンスデータ

02.2. 入ってくるESG情報のフォーマットと主な情報源を明示してください。

この情報の提供者を説明してください
この情報の提供者を説明してください
この情報の提供者を説明してください
この情報の提供者を説明してください

02.3. 使用されているESG情報を簡単に説明してください。ESG組み入れ戦略全体における情報源の違いを明らかにしてください。

KLP uses external service providers for information on environmental, social and governance (bribery and anti-corruption) metrics. These are screening-based. KLP conducts in-house analysis primarily on Norwegian issuers, but also on foreign issuers in the case of serious violations.

Government bonds: KLP shall not invest in bonds issued by countries where the state or government officials are the object of UN or EU economic sanctions to which Norway adheres. KLP shall not invest in the lowest-ranked countries in the World Bank's Worldwide Governance Indicators (WGI). Excluding a government bond from the investment universe does not normally require the exclusion of other forms of investment in the same country.

KLP shall also monitor developments in companies subject to UN and EU sanctions to which Norway adheres, and consider freezing purchases of, or divesting, the relevant companies' securities.

In addition KLPs ecolabeled fixed income funds have a criteria on 50% of the AUM invested in companies with a high ESG-rating.

 

 

02.4. 補足情報 [任意]

The financial department in KLP define the limits for credit-investments. Credit limits are approved by KLP's credit committee. The asset management company, KLP Kapitalforvaltning, follow these limits. When "private placements" are made, ESG issues are part of the assessments taken.

FI 03. Processes to ensure analysis is robust

03.1. 組織のESG調査プロセスの堅牢性を確保する方法を記載してください。

03.2. ESG情報または分析を投資チーム内で共有する方法を記載してください。 

          Companies where ESG issues have been identified and should be considered before investment in the company are flagged for the PMs.

03.3. 補足情報 [任意]

Issuers are given the opportunity to comment on pending exclusion decisions. KLP conducts a benchmarking process of different ESG providers before entering any cooperation agreement. We use several different service providers, such that we can compare the quality of analysis on a regular basis. KLP also engages in in-house analysis and dialogue with companies, which helps us to evaluate the quality of ESG providers.
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