Annual Report 2023 (eng) - Flipbook - Side 20
INDUSTRIENS PENSIONSFORSIKRING A/S ÅRSRAPPORT 2023
ensuring that the initiatives and specific
activities that have been decided and prioritised
in Industriens Pension's strategy are executed –
both in accordance with, and taking into
account, Industriens Pension's mission, vision
and values – and in accordance with Industriens
Pension's responsibility in relation to ESG and a
sustainable development.
At
Industriens
Pension,
sustainable
management is the management required to
develop a sustainable pension company with all
the uncertainties and dilemmas this involves.
The point of departure is Industriens Pension's
management values that express how managers
at Industriens Pension are expected behave.
This applies in managers' relations with the
individual
employee,
with
the
local
team/department and as a role model
throughout Industriens Pension.
Throughout 2023, all managers at Industriens
Pension have worked on sustainable
management, and participated in four training
modules individually adapted to Industriens
Pension. This is just one of several instruments
for successful execution of the company's
sustainability strategy.
Equal pay and gender diversity
Industriens Pension supports equal pay
between genders, if responsibilities, tasks and
seniority are comparable.
The Board of Directors has adopted target
figures and policies for the gender mix in the
Board of Directors and at other managerial
levels. Target figures have been set so that a
gender is considered to be underrepresented in
the Board of Directors if it is represented by less
than 28%.
In 2023, one member of the Board of Directors
was replaced to add a female member so that
the current 14 members of the Board of Directors
of Industriens Pension comprise 4 women and
10 men. Consequently, the share of the
underrepresented gender meets the target
gender mix stipulated for the Board of Directors.
However, the company has not yet an achieved
an equal mix.
With regard to other management levels –
executive directors and heads of department
with management responsibility – the target
figure has been set at 40%. The mix at the end
of 2023 was six women and nine men. The
target has therefore been reached and the
company has an acceptable gender distribution.
Developments in Industriens Pension’s social
ESG metrics are specified in table 15.
Among other things, the metrics reveal a 20%
difference in salary between the genders. This
difference is not an indication that we do not
have equal pay within the individual areas, but
rather that several specialist jobs attracting the
highest wages, for example in the investment
area, are dominated by male employees. In
connection with new appointments, one of the
parameters is more equal gender distribution, as
we want a diverse employee composition.
Governance
Industriens Pension follows recommendations
from the Pensionsmarkedsrådet (Pension
Market Council) on good and efficient corporate
governance for labour-market pensions.
Industriens Pension has reported on compliance
with the individual recommendations on the
SERVING AS A GOOD EXAMPLE
company website www.industrienspension.dk/
godselskabsledelse.
Board of Directors
The Board of Directors is composed of 14
members. Of these, 12 members are appointed
by the shareholder groups behind the pension
scheme, and two are appointed by the merged
pension funds PNN PENSION and PHI pension.
The Chairman of the Board is Mads Andersen,
who is also chairman of the manufacturing
industries group at 3F and vice president of the
Central Organisation of Industrial Employees
The Deputy Chairman is Kim Graugaard, who is
the vice CEO at the Confederation of Danish
Industry. The Board of Directors has set up an
audit committee, an investment committee, a
remuneration committee and a committee for
responsible investment. Meeting attendance by
Board of Directors is described in Table 17, and
in 2023 corresponds to an attendance rate of
93%. The management responsibilities of the
Board of Directors, including representation on
these committees are described on page 60.
Board of directors
Investment committee
Audit committee
Remuneration
committee
Committee for
responsible investment
Executive board
Self-assessment by the Board of Directors in
2023
The Board of Directors conducts a selfassessment every year. Board of Directors has
decided to conduct the self-assessment using
external assistance following a three-year
rotation system. An external consultant was
used in the 2022 self-evaluation, so no external
assistance was used in 2023.
The Board of Directors considers that the best
process is achieved by organising the selfassessment differently over time, and that an
external
consultant
can
provide
new
perspectives on board work and ensure that the
Table 15 Social data
Fu -time equiv ents (FTE)
Gender diversit (%)
P
g p between genders (f ctor)
.
.
Emp o ee turnover r te (%)
Sickness bsence (d
s/FTE)
20
