Annual Report 2023 (eng) - Flipbook - Side 14
INDUSTRIENS PENSIONSFORSIKRING A/S ÅRSRAPPORT 2023
The falling emissions from Industriens Pension's
portfolio of listed investments are achieved by
focusing on companies which show willingness
and ability to be involved in the transition to a
sustainable society. In the climate area too, we
have an active ownership approach, because as
active owners we can help nudge enterprises to
undergo a sustainable transition in terms of the
environment and climate.
The portfolio includes companies that currently
have a relatively high climate footprint, such as
fossil oil companies, but where we have
assessed that, as investors, we can make the
greatest positive impact on the climate by
continuing as active owners and influencing the
company to transition to greener production
with lower climate footprint.
On the basis of this, in 2023 Industriens Pension
enhanced dialogue about plans for transition
with the largest carbon emitters in the portfolio.
Industriens Pension has both independent
dialogue with companies and shared dialogue
with like-minded investors at our cooperation
partner EOS at Federated Hermers and under
the global initiative Climate Action 100+.
For some companies we have assessed that a
sufficient transition of business areas is not
possible, and they have therefore been
excluded from our investment universe. This
applies for all coal mining companies, as these
have been assessed to have a significant
negative impact on the environment and
climate, and there may be problems with
employment conditions and basic human rights.
This also applies for oil companies with more
than 5% of their oil production extracted from tar
sand. A total of 152 companies had been
excluded at the end of 2023 on the basis of their
activities within coal mining and oil extraction
from tar sand.
With respect to property investments,
Industriens Pension aims to be an active player
in developments towards a sustainable
construction sector. This applies, for example, to
optimising resource consumption with regard to
recycling, biodiversity, low environmental
impact and energy-correct operation.
Therefore, there are requirements that new
buildings in which we invest have DGNB Gold
sustainability certification as a minimum. DGNB
is a holistically oriented certification scheme that
takes into account the lifecycle of building
materials, energy consumption etc. before,
during and after construction. Industriens
Pension also has an objective to certify
operation of the 100%-owned properties in the
portfolio. At the end of 2023, these properties
had achieved DGNB Silver certification, and
efforts in upcoming years will aim for DGNB Gold
certification.
INVESTMENT ACTIVITIES
the portfolio of listed shares, credit bonds and
directly owned properties have been calculated
for 2022 and 2023. In 2023, this corresponded
to 44% of the total portfolio. The climate footprint
in 2023 has been calculated at 6.8 tonnes
CO2e/DKK mill. invested, and this is a drop in
relation the 2022 footprint of 9.1 tonnes
CO2e/DKK mill.
In 2024, we will continue our efforts to calculate
emissions for the unlisted part of the portfolio.
.
Table 11 Carbon emissions
Listed sh res nd credit bonds )
Industriens Pension has focused for many years
on investments in climate solutions that help
support the transition to a sustainable society.
This applies to direct investments in renewable
energy such as wind turbines, solar PV and
biogas, and with regard to other types of
infrastructure investments in solutions that help
support the transition to renewable energy.
There is also focus on investing in small and
medium-sized companies that develop different
types of innovative sustainability solutions.
C rbon emissions from investments (tonnes)
An important part of work on the climate
footprint of the portfolio is collection of data on
the carbon emissions of investments. There is
constant work to expand the data basis for the
portfolio's carbon emissions, and emissions from
C rbon emissions from investments (tonnes)
,
C rbon footprint (tonnes/DKK mi . invested)
Direct
,
.
.
.
.
owned properties b)
C rbon emissions from investments (tonnes)
C rbon footprint (tonnes/DKK mi . invested)
Tot
of c cu ted portfo io )+b)
Percent ge of tot
c cu ted portfo io
C rbon footprint (tonnes/DKK mi . invested)
%
%
,
,
.
.
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