Corporate Social Responsibility 2021 - Flipbook - Page 20
INDUSTRIENS PENSIONSFORSIKRING A/S
2021
CORPORATE SOCIAL RESPONSIBILITY REPORT
Policies for calculating ESG
metrics and key figures
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 for the years 2020 and 2019. In the course
of 2021, additional work has been conducted to
collect data that provides a more comprehensive
basis for the calculation.
In some cases, this has caused a change in the
underlying data compared with previous periods,
thus making comparisons difficult.
The calculation includes activities relating to
IndustriPension
Holding
A/S, Industriens
Pensionsforsikring A/S, Industriens Pension
Service A/S, and to activities at the companies’
addresses.
Carbon footprint from investments
Carbon emissions from investments (calculated in
tonnes) and the carbon footprint from investments
(calculated in tonnes/DKK mill.) are calculated on
the basis of data from Institutional Shareholder
Services (ISS). In 2021, Industriens Pension set up a
solution in which the total portfolio of investment
assets is matched with environmental data from ISS
to the extent that such data is available.
Data is not 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 current
portfolio.
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.
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.
POLICIES FOR CALCULATING ESG METRICS AND KEY FIGURES
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.
Scope 2
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 has entered into an
agreement to purchase green electricity, and
consequently,
emissions
from
power
consumption are not included.
Scope 3
According to the Greenhouse Gas Protocol, scope
3 carbon emissions are divided into 15 categories.
Industriens Pension does not disclose information
for all categories, either because the data is
insufficient, or because the category is irrelevant
in relation to Industriens Pension’s activities.
Scope 3 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) and transport of letters
(C9:
Downstream
Transportation
and
Distribution).
Emissions from paper consumption are calculated
on the basis of the consumption and the emission
factors stated by the suppliers.
Emissions from water are based on data collected
via meter readings and the most recently
published emission factors.
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,
including Radiative Forcing, i.e. the calculation
includes the total atmospheric climate impact, and
not just the carbon impact.
Emissions from transport of letters are based on the
estimated number of letters sent and the carbon
emission factors from the Post Nord environmental
calculator.
Energy consumption
Calculated as the fuel type consumed multiplied by
the relevant energy factors plus electricity
consumed, including the renewable share.
Renewable share
Calculated as the share of energy consumption that
is renewable divided by the 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.
Social data
Full-time equivalents
Calculated as the number of employees converted
to full-time positions.
Gender diversity
Calculated as the number of female full-time
employees in relation to the company’s total
workforce.
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