Annual Report 2023 (eng) - Flipbook - Side 80
Annex 1
are
sustainable
investments with
an environmental
objective that do
not take account
of the criteria for
environmentally
sustainable
economic
activities in
accordance with
Regulation (EU)
No 2020/852.
What was the proportion of sustainable investments with an environmental objective that was not in accordance with
the EU classification system?
No minimum proportion has been set for sustainable investments with an environmental objective. As stated above, the
portfolio includes investments that may turn out to be sustainable investments, but documentation is not ready yet.
What proportion constituted socially sustainable investments?
No minimum proportion has been set for socially sustainable investments.
What investments were included under '#2 Other', what was their purpose, and were there any environmental or social
minimum guarantees?
The '2# Other' category consists of derivatives and liquid funds, the purpose of which is to manage the investment risk
and place non-invested funds. This type of instrument is not used to achieve environmental or social characteristics and
is therefore not subject to a minimum. See the comment above on derivatives.
What measures have been taken to meet the environmental and/or social characteristics in the reference
period?
The objective of continuously reducing the climate footprint of the investment portfolio was primarily established by
utilising active ownership in the companies we invest in on the basis of a principle of proportionality. This meant that we
were in dialogue with the companies in which we have the largest investments and where we could maximise the impact
of our efforts. We engaged in dialogue with, and voted at, general meetings of portfolio companies to promote their
transition to a sustainable society. We excluded some companies for which we assessed that a sufficient transition of
their activities was not being prioritised by the company or would not be possible. This applied for all coal mining
companies with revenues related to thermal coal mining, as these have been assessed to have a significant adverse
impact on the environment and climate as their the business model. This also applied for oil companies where more than
5% of their revenues came from extraction from tar sand.
Industriens Pension has a guideline only to invest in buildings constructed after 2020 that have at least a DGNB
Certificate in Gold. Furthermore, efforts are being made to classify existing properties in the portfolio with a view to
gradually to improve their sustainability.
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