Corporate social responsibility 2020 - Flipbook - Page 14
INDUSTRIENS PENSIONSFORSIKRING A/S
RAPPORT OM SAMFUNDSANSVAR 2020
An example of this is the American oil company
Exxon Mobil. However, this is a last resort,
because by excluding a company from our
investment universe, we also give up the
opportunity to exert influence on the activities of
the company. The list of the companies in which
we do not invest is available on our website.
Industriens Pension reports quarterly and
annually about activities related to active
Table 2
ownership on our website and in the corporate
social responsibility section in our annual report
as well as in this report.
The Danish Financial Business Act includes
specific requirements for companies like
Industriens Pension on the frequency and nature
of disclosures about active ownership of listed
companies. The legislation implements the EU
Shareholder Rights Directive, and the
Disclosure requirements, section 159 of the Danish Financial
Business Act
1. Active ownership policy
Industriens Pension is to publish a policy for active ownership in connection with investments in
equities. The policy is to describe how we
ACTIVE OWNERSHIP
requirements only differ slightly from Industriens
Pension’s previous reporting according to
recommendations
for
active
ownership
published by the Committee on Corporate
Governance. Table 2 provides an overview of
the requirements. Industriens Pension complies
with all active ownership requirements.
Industriens Pension’s policy on responsible
investment and active ownership includes the
elements described under point 1. The policy is
available on our website under responsible
investments.
How the policy is implemented is described in
this report and on the website, which describes
Industriens Pension’s work on active ownership.
Every quarter, we publish data on our active
ownership, who we collaborate with and which
companies and countries we do not invest in.
On the Industriens Pension website, we
announce annually how we voted at general
meetings of the companies in which we hold
shares. For most efficient use of our resources,
Industriens Pension only votes at general
meetings of foreign companies in which we have
investments exceeding DKK 50 mill. We always
vote at the general meetings of companies in
Denmark. In 2020, we cast our vote in 224
companies. We always cast our vote ourselves,
i.e. without a proxy.
As a general rule, we invest in companies in
which we have confidence in the management,
but sometimes we vote against proposals from
the management. In 2020, this applied for 11% of
1.1. Monitor companies
1.2 Engage in dialogue with companies
1.3 As institutional investors, monitor and engage in dialogue with the companies in which we
invest, with due regard to the investment strategy and the principle of proportionality
Figure 1
Dialogue broken down by theme
1.4 Exercise our voting rights and other rights linked to shares
1.5 Cooperate with other shareholders
1.6 Communicate with relevant stakeholders in the companies in which we invest
1.7 Manage actual and potential conflicts of interest in connection with the company’s active
ownership
2. Publication on implementation of the policy
Once a year, Industriens Pension is to announce how our policy for active ownership has been
carried out, including a general description of voting, a review of the most significant ballots and
the company's use of services from advisory proxies.
3. Disclosure of voting activity at general meetings
Once a year, Industriens Pension is to announce how we voted at general meetings of companies
in which we hold shares. The requirement also applies if capital managers voted on our behalf. In
this case, reference can be made to voting information published by the capital manager. Ballots
that are insignificant because of the topic of the ballot or the size of the equity investment in the
relevant company may be omitted from disclosure.
Environmental
Social and Ethical
Governance
14
