Annual Report 2023 (eng) - Flipbook - Side 24
INDUSTRIENS PENSIONSFORSIKRING A/S ÅRSRAPPORT 2023
Policies
The list of ESG metrics includes the figures
requested by the Danish Insurance Association
in its recommendations on climate partnership
reporting, supplemented by the ESG metrics
requested in the guidance on “ESG key figures
in the annual report” issued by FSR Danish
Auditors, Nasdaq and the CFA Society Denmark.
The principles for calculating individual metrics
are described below. When data is available for
previous periods, comparative figures have
been stated. In the course of 2023, additional
work has been conducted to collect data that
provides a more comprehensive basis for the
calculation. Comparative figures will be adjusted
as the data basis is increased.
Carbon footprint of investments
Currently, the carbon footprint (in CO2e) is
calculated for Industriens Pension's listed
investment assets, excluding government
bonds, and for direct investments in properties.
In 2023, this part amounted to 44% of the total
portfolio. Data is not yet available for the entire
portfolio of Industriens Pension, and,
consequently, in the coming years, there will be
focus on securing better coverage in relation to
the company’s total portfolio.
Carbon emissions from investments (calculated
in tonnes CO2e) and the carbon footprint from
investments (calculated in tonnes CO2e/DKK
mill.) are calculated on the basis of data from the
external data supplier MSCI for the listed part of
the portfolio, as well as own data for direct
investments in properties. In 2023 a new
supplier of data was selected, and data for
properties is included for the first time in 2023.
Comparative figures have been adjusted.
ESG METRICS
Dialogue
The calculation of the number of dialogues
includes situations in which we have
approached a company to discuss one or more
issues, and where, subsequently, we received
valid responses or explanations. Industriens
Pension has its own proactive dialogues with
portfolio companies and dialogue through EOS
at Federated Hermes.
categories. Industriens Pension does not
disclose all categories. Some sub-categories are
not relevant, and data is still incomplete for
some of those that are relevant.
The company’s own emissions
When calculating carbon emissions from
Industriens Pensions’ own activities, a
subdivision is made into underlying groups
depending on the source of the emissions. This
is in accordance with the Greenhouse Gas
Protocol.
•
•
Scope 1
Direct emissions from own vehicles, calculated
on the basis of the estimated job-related number
of km driven and the emission factors of the
vehicles.
Emissions from water are estimated on the basis
of 2022 readings by Industriens Pension's
supplier and the most recently published
emission factors.
Scope 2
Indirect emissions of electricity and district
heating purchased from energy producers. The
emissions calculations are based on data
collected via meter readings and the most
recently published emission factors stated by
the energy companies. Industriens Pension only
operates in Denmark and applies a marketbased method to calculate emissions.
Industriens Pension has entered into an
agreement to purchase green electricity, and
consequently,
emissions
from
power
consumption are included at 0.
Scope 3
According to the Greenhouse Gas Protocol,
scope 3 carbon emissions are divided into 15
The calculation therefore currently includes
carbon emissions from:
•
Paper consumption (C1: Purchased goods
and services)
Water (C5: Waste generated in operations)
Business travel in employees' own cars and
air travel (C6: Business travel)
Emissions from paper consumption are
calculated on the basis of the consumption and
the emission factors stated by the suppliers.
Emissions from employees driving in their own
cars are based on the number of km driven and
the emissions from the cars.
Emissions from air travel are based on
calculations directly from Industriens Pension’s
travel agent. The emissions are based on
DEFRA’s emission factors, i.e. the calculation
includes the total atmospheric climate impact,
and not just the CO2 impact.
Energy consumption
Calculated as energy consumption in scopes 1
and 2 converted into KWh.
Renewables share
The percentage is calculated on the basis of
purchased guarantees of origin of renewable
energy,
divided by total energy
consumption.
Water consumption
The key figure for water consumption only
includes the company’s owner-occupied
property, as no data is available from rented
premises, and the calculations are estimated on
the basis of 2022 meter readings by Industriens
Pension's supplier.
Social data
Full-time workforce
Calculated as the number of all employees
converted to full-time equivalents (FTE). Hourly
workers are converted into FTE based on
scheduled working hours per month. The
calculation of FTEs does not include temporary
staff employed in time-limited positions.
Gender diversity
Calculated as the number of female FTE in
relation to the company’s total FTE based on
civil registration number (CPR number).
Gender diversity for other management levels
Calculated as the number of female managers in
relation to the total number of managers. In this
context, managers are defined as employees
with staff and management responsibilities at
the first 2 management levels under the Board
of Directors.
Pay gap between genders
Calculated as the ratio between the median
salary for male employees and the median
salary for female employees. When calculating
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