Ministry of Finance Sweden Government Offices of Sweden State-Owned Enterprises as Vehicles for Corporate Responsibility and Sustainability United Nations.

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Presentation transcript:

Ministry of Finance Sweden Government Offices of Sweden State-Owned Enterprises as Vehicles for Corporate Responsibility and Sustainability United Nations Global Compact Leaders Summit 2013: Architects of a Better World Erik Thedéen Ministry of Finance 19 September 2013

Ministry of Finance Sweden Government Offices of Sweden The Government is one of Sweden’s Largest Business Owners 53 companies –42 fully-owned –11 partly-owned –Three publicly listed Estimated value SEK 570 bn (almost 70 bn euro) One of Sweden’s largest employers

Ministry of Finance Sweden Government Offices of Sweden

Ministry of Finance Sweden Government Offices of Sweden ”The Government’s overall objective is for the companies to generate value and, where applicable, ensure that specially commissioned public service assignments are carried out.” Overall Objective Government owner policy

Ministry of Finance Sweden Government Offices of Sweden

Ministry of Finance Sweden Government Offices of Sweden 2007: Sustainability Reporting New guidelines requiring state-owned companies to provide sustainability reports in accordance with GRI Sustainability reports to be published in connection with the regular annual reports and to be audited by a third party

Ministry of Finance Sweden Government Offices of Sweden Next step: Integrate sustainability in corporate governance Owner Policy Dialogue between the owner and the company Nominations to company boards Clear goals that are monitored

Ministry of Finance Sweden Government Offices of Sweden The Board of Directors & Sustainability Targets LKAB –The proportion of women in the company will be at least 25% by 2020 –Ensure new ore reserve for at least 20 years to 2020 –Carbon dioxide emission per ton of finished products will be reduced from 27 kg in 2011 to 17 kg by 2020 –New generation of climate-smart pellets produced by 2017 SEK –Percentage of our clients that believe SEK sets sustainability requirements for lending Target: > 80% by 2015 –Percentage of clients and suppliers that have undertaken to comply with SEK’s anti- corruption guidelines Target: 100% by 2015 –Gender distribution in management positions Target: 40/60% by 2015 –Employees with a foreign background Target: >25% by 2015

Ministry of Finance Sweden Government Offices of Sweden Sustainable Business Environment Human rights Working conditions Anti- corruption Business ethics Gender equality Diversity Analysis of Business and Risks Potential Business Model Sustainable Business Model

Ministry of Finance Sweden Government Offices of Sweden Dialogue with the Boards of Directors

Ministry of Finance Sweden Government Offices of Sweden Tack! Erik Thedéen State Secretary Ministry of Finance Government of Sweden