2. Investment strategies make a difference
Eva Axelsson, Head of Sustainability KPA Pension

3. To develop sustainable
Development that meets the needs of present without compromising the ability of future generations to meet their own needs - "Our Common Future (the Brundtland Report)," UN 1987
Three dimensions: social sustainability economic sustainability ecological sustainability

4. Money on my mind..
Is it just about maximizing profits, or are there other values ​​or yields values ​​of profit maximization?

5. Our brand A Secure Pension Ethical Investments A Secure Pension
- This is KPA Pensions main mission
- A logical perspective
Ethical Investments
Requirement from our clients and owners

6. Why are we doing this?
KPA Pension invests all capital safely and ethically. We do this because our customers want it, and we believe this to be the best investment strategy. Therefore, I would like to tell you more about life as part of the company's pension business - why it is important for the industry, "Consumers are becoming increasingly aware of corporate sustainability and responsibility. The pension sector is KPA Pension best in class. But what does it mean for the industry, the challenges we have and how we can make our customers more aware of what we are doing in terms of sustainability in the industry
Vilka investeringsstrategier gör skillnad? Hur ser kunderna på etiska placeringar?
- Hur tänker branschen och hur arbetar KPA Pension?

7. Why are we doing this? 80% of the KPA Pension's customers are women
All members of the target group years: 77% "Very important with sustainable investment criteria" Women years: 90% " Very important with sustainable pension "
KPA Pension invests all capital safely and ethically. We do this because our customers want it, and we believe this to be the best investment strategy. Therefore, I would like to tell you more about life as part of the company's pension business - why it is important for the industry, "Consumers are becoming increasingly aware of corporate sustainability and responsibility. The pension sector is KPA Pension best in class. But what does it mean for the industry, the challenges we have and how we can make our customers more aware of what we are doing in terms of sustainability in the industry
In regard to investing pension funds, customers think it is important to support children’s rights, human rights and the environment. And we know many of our clients like the company to take active responsibility. Among other things they want our corporate governance to see to that more women are seated on company boards and that bonus programs become more reasonable.
Vilka investeringsstrategier gör skillnad? Hur ser kunderna på etiska placeringar?
- Hur tänker branschen och hur arbetar KPA Pension?
Why we started Customer survey, Agenda 21, the Rio de Janerio SKL

8. 8 of 10 municipal and county employees think it is very worthwhile to save for retirement ethically

9. 8 of 10 municipal and county employees want
8 of 10 municipal and county employees want? Employer and influence to occupational pension invested ethically
"How important is it that the employer and influence so that your pension invested ethically?" Sifo: 1058 interviews with municipal and county employees
Opportunity to make a difference for the municipality and county employees! For the entire industry - reviewing investment policy and procurement

10. What do you mean sustainable?
Sustainability is important to your business, your brand. There are no shortcuts! One area that concerns Many think is important 70% higher in the public (check the PR survey) branding Clear and transparent Practicing what we preach, the organization supports, will be examined as Stora Enso, interest is increasing, media scrutiny, there will be consequences, debate damage in the long term
Power is responsibility. KPA Pension manages safely and ethically. 100 billion. Money is power, and power gives responsibility. The pension capital has the power to influence! Challenging the industry, the power to influence, endless opportunities to make a difference If we all would have the same ethical investment criteria energy companies 80% women, 1.2 million 9 in 10 that we invest with

11. Human rights
zpName zcCompany

12. Global compact The Universal Declaration of Human Rights
The International Labour Organization's Declaration on Fundamental Principles and Rights at Work
The Rio Declaration on Environment and Development
The United Nations Convention Against Corruption
zpName zcCompany

13. Natural capital will be critical for companies profits
Källa: Carbon Tracker

14. We engage and we exclude Cooperation based on values
Walk the talk
Bakgrund till beslutet
Environmental certification first in Europe in 1998, according to ISO 14001
We engage and we exclude
Cooperation based on values

15. Carbon footprint Antal analyerade företag Värde innehav s (SEKm)
Total Koldioxidutsläpp Carbon emissions apportioned (tCO2e)
Total Koldioxidfotavtryck (tCO2e/SEKm)
KPA – Aggregerad Global portfolio
763
34,134
775,129
35.93
MSCI ACWI Index
2,380
1,367,283
50.43

16. EU Directive on disclosure of non-financial and diversity information
Into law 29th September 2014
EU based companies with 500+ employees required to report environmental and other information in mainstream reports within two years;
Details of what is to be reported in each country are at the discretion of Member States, the Commission will produce non-binding guidance within two years.
Scope of the legislation
The text states that, “the scope of the non-financial disclosure requirements should be defined by reference to the average number of employees, balance-sheet total and net turnover.” At this stage, no figures have been placed on balance sheet total or net turnover. The average number of employees must however exceed 500. In the case of consolidated groups this is a consolidated employee total across subsidiaries.
The legislation applies to all large companies which are listed on EU stock exchanges (‘public-interest entities’ in EU speak), as well as those companies which are parent companies of subsidiaries.
Who does the legislation apply to?
Companies are required to produce a non-financial statement.
How should a company report?
However, in a win for Member States which wanted ‘flexibility’ in the reporting burden on companies, a number of exemptions to the legislation mean that companies do not have to produce a non-financial statement and include it in the management report.
In the instance of consolidated groups, a consolidated non-financial statement should be included in the consolidated management report.
The non-financial statement should be included in the company’s management report.
Rather than including a non-financial statement in the management report, if the same information is included in a separate report, this is also deemed acceptable. In more detail:
Exemptions
1. A company can be exempted from providing a non-financial statement if it provides the information required for the same financial year, covering the same content, in a separate report. The ability to provide a separate report also applies to consolidated groups. The company can be exempted from preparing a non-financial statement if the separate report:
is made publicly available within a reasonable period of time, not exceeding six months after the balance-sheet date, on the company’s website, to which reference shall be made in the management report.
is published together with the management report; or,
It appears therefore that companies are not necessarily obligated to include non-financial information in the management report, which may reduce the usefulness of the information for investors and other interested stakeholders. We need to see how this is transposed into national law.
2. A company can receive exemption to report on business particularities if they are due to “impending developments or matters in the course of negotiation”. This is at the discretion of Member States, if reporting is deemed to seriously prejudice a company’s commercial position. However, such an exemption would only be permissable in the instance that such omission would still allow “a fair and balanced understanding of the company’s development, performance and position and of the impact of its activity”.
3. Member States may exempt companies which have only issued securities other than shares admitted to trading on a regulated market, unless such companies have issued shares which are traded in a multilateral trading facility.
1. A subsidiary company does not have to provide its own non-financial statement: It is exempted if the company and its subsidiaries are included in the consolidated management report or the separate report of another company (i.e. its parent company) A parent company which is also a subsidiary company shall be exempted from preparing a report if the exempted parent company and its subsidiaries are included in the consolidated management report or the separate report of another company.
Exemptions if consolidated group
Companies should prepare a non-financial statement containing information relating to at least environmental matters, social and employee-related matters, respect for human rights, anti-corruption and bribery matters.
What has to be reported?
Regarding environmental matters, this means the statement should contain details of the current and foreseeable impacts of the company’s operations on the environment, and, as appropriate, health and safety, the use of renewable and/or non-renewable energy, greenhouse gas emissions, water use and air pollution.
The severity of such impacts should be judged by the company on their scale and gravity. The risks of adverse impact may stem from the company’s own activities or may be linked to its operations. This means that, “where relevant and proportionate”, the company should report on how its products, services business relationships, including its supply and subcontracting chains, impact on the environment.
Information should be provided in relation to matters that stand out as being most likely to bring about the materialisation of principal risks of severe impacts, along with those that have already materialised.
a brief description of the company’s business model
Companies will have to report in their non-financial statement:
the principal risks linked to the company’s operations including, where relevant and proportionate, its business relationships, products or services which are likely to cause adverse impacts in those areas, and how the company manages those risks;
the outcome of those policy(ies);
a description of their policy(ies) in relation to the (e.g. environmental) matters above, including any due diligence policies;
where appropriate references to, and additional explanations of, amounts reported in the annual financial statements.
non-financial key performance indicators relevant to the particular business;
Where the company does not pursue policies in relation to one of the areas on which it is required to report, the non-financial statement shall provide a clear and reasoned explanation for not doing so (“comply or explain”).
What frameworks should companies use?
- National frameworks,
If they chose to use a framework to report, companies have choice as to which they use. They are however required to specify which framework(s) they have used. This can be:
The Directive states that companies may rely on frameworks, although this appears not to be an absolute requirement.
- International frameworks e.g. UNGC, the Guiding Principles on Business and Human Rights implementing the UN ‘Protect, Respect and Remedy’ Framework, OECD Guidelines for Multinational Enterprises, ISO 26000, ILO Tripartite Declaration of principles concerning multinational enterprises and social policy, GRI, or other recognised international frameworks. That last part is where CDP and CDSB come in. We unfortunately did not manage to get included in the final text of the Directive. As a next step, we are working to get referenced in the guidance document accompanying the regulation, which the European Commission is producing. It is likely that Member States are going to produce their own guidance documents for transposition at the national level, and we will try and engage respective ministries to get referenced in these documents.
- EU frameworks e.g. Eco-Management and Audit Scheme (EMAS),
Verification Statutory auditors and audit firms should only check that the non-financial statement or the separate report has been provided.
At this stage, it looks likely that whether or not there will be a requirement for the information itself to be audited will depend upon the Member State in question: “It should be possible for Member States to require that the information included in the non-financial statement or in the separate report be verified by an independent assurance services provider.” So verification of the information is a possibility, but not an absolute requirement.

17. Future opportunities Owner influence Exclude/divest
Green investment bank
Green bonds
men reglering av FI m fl gör att vi inte kan investera i intressant samhällsnyttiga investeringar som vi skulle kunna!
Oavsett vilken politisk styrning som vi kommer att ha i höst, vilka visioner har vi för hur vi kan använda kapitalet, vilka verktyg som finns

18. The impact in practice
DialogReports Project Fossil free future Media Annual meeting of shareholders Meetings
Reports Fossil projects future Media Meetings with companies Stora Enso TeliaSonera Meetings 48 notes in gender, environment, human rights

19. Success factors Commitment from board and top management
A clear direction and ambitious commitments
It is a process - one step at a time
Integrated into existing business processes
What gets measured gets done & in people’s targets
External expertise and support

20. Influence through capital
Yes, especially if the manager chooses to influence company
Without ethically engaged investors are no requirements
Is it possible to get companies to improve themselves by investing in them?
Yes, especially if the manager chooses to influence the company. When the last ethically engaged investor sells, there is no one left who can make demands. Good behavior is often profitable in the longer term as it is appreciated by both employees and customers.
"Good behavior" is often profitable in the long term when it is appreciated by both employees and customers

21. Strong solvency provides long-term security
+172%
Det viktigaste måttet på ekonomisk styrka för ett pensionsbolag är solvensgraden. Solvensgraden visar marknadsvärdet på bolagets tillgångar i förhållande till värdet av de garanterade pensionerna. Vår solvensgrad är hög: 172 procent (31/ ). Det betyder att vi har 72 procent mer tillgångar än vad som behövs för att betala ut de garanterade pensionerna.

22. High return +5,7% Average annual returns 2001-2013
Fram till och med 2013 har KPA Pension levererat en genomsnittlig årsavkastning på 5,7 procent. Avkastningshistoriken visar att vi har en mycket god förmåga att leverera en konkurrenskraftig avkastning och säkerställa en trygg pension för våra kunder – även under tidsperioder som kännetecknas av flera kraftiga fall på de finansiella marknaderna.
Källa: Svensk Försäkrings branschstatistik.

23. Money talks!