Aktivt ägande och engagemang

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Active Ownership Engagements Collaborations Voting Active Ownership

Being active owners

Active ownership is the main way we communicate with the companies we invest in. We believe that ensuring good ESG practices in our funds’ holdings is an important part of safeguarding the long-term interests of shareholders and society. When we want to improve a company’s management of its ESG risks we exercise our right to influence the company. 

We vote at annual general meetings according to our corporate governance principles. In 2019, we voted at around 515 general meetings of companies in which Nordea´s funds are among the largest owners or have invested substantial capital. We also participate in nomination committees, which is a very efficient way to engage with the companies we have large holdings in, and it enables us to drive real change. Our activities at the annual general meetings can be seen on the Voting Portal

We collaborate in different international initiatives and partnerships. We want to take an active role in aligning finance and markets with sustainability. As part of our sustainable finance approach, we follow internationally recognised principles of sustainable investment and stewardship. Read more about our international initiatives here.  

We engage with companies and other stakeholders (including policymakers on different themes, individually or through collaborative initiatives) with a global reach that is supported by a large number of investors. Engagement generally falls into one of three categories:  

1. Norms- and incident-based engagement: engaging with companies breaching the international norms or conventions or companies having ESG related incidents  

2. Risk based engagement: engaging with companies on their material ESG risks  

3. Thematic engagement: engaging on specific themes such as corruption, human rights, water and climate change 

Updates about our engagement activities can be found here

Engagements

Engagement summary 2019

In 2019, we engaged in almost 600 dialogues with companies in the investment portfolio to ensure that material ESG risks were being adequately managed, or ESG opportunities were being fully harnessed. These companies include some of our largest holdings as well as companies identified for our sustainability-enhanced funds.

Collaborations

We collaborate in different international initiatives and partnerships. We want to take an active role in aligning finance and markets with sustainability. As part of our sustainable finance approach, we follow internationally recognised principles of sustainable investment and stewardship. Read more about our international initiatives here.  


Climate Action 100+ 

Nordea is a member of Climate Action 100+ which requires investors to sign on to the Climate Action 100+ Sign-on Statement that sets out the investor signatories’ commitment and expectations of the companies on the initiative’s focus list. To date, it has been signed by 342 investors from across dozens of countries, who collectively manage more than USD $33.6 trillion in assets under management. View the full statement and list of signatories

Corporate Human Rights Benchmark  

Nordea is a funding member and on the Advisory board of the Corporate Human Rights Benchmark (CHRB). The benchmark measures, on an annual basis, the human rights performance of a number of the world’s  largest publicly listed companies in industry sectors with high exposure to human rights risk. The benchmark looks at the policies, processes and practices the companies have in place to address their human rights efforts, and how they respond to serious allegations of human rights violations. 

In 2017 and 2018 the CHRB assesses 101 companies from the Agricultural Products, Apparel, and Extractives industries that were chosen on the basis of their size (market capitalisation) and revenues. We integrate the results of the Corporate Human Rights Benchmark (CHRB) assessments into our ESG analysis and ownership activities. Following the first benchmark assessment in 2017, an engagement with the assessed companies was initiated by the CHRB investors - Nordea, APG Asset Management and Aviva- together with 85 other asset owners and managers with more than USD 5.3tn in AuM supporting the UN Guiding Principles Reporting Framework.  The investor coalition has communicated its expectations on human rights, see below, and is now following-up on the 2018 and 2019 assessment results.  

Companies are expected to: 

Publicly acknowledge their responsibility to respect human rights and formally incorporate this into publicly available statements of policy. 

Use the UN Guiding Principles Reporting Framework as guidance for their reporting on human rights issues. 

Include oversight of human rights-related risk as part of the Board’s responsibility 

Embed human rights policy commitments in management systems, business operations and stakeholder engagements 

Community Impact Benchmark 

Building on our norms-based screening process Nordea has developed its own Community Impact Benchmark to help us identify companies exposed to community impact risks and encourage improved risk management by companies with operations that have high environmental and social impacts on local communities. Companies from the Energy, Utilities and Materials sectors, with four confirmed controversies identified in our norms-based screening process, of which at least one with negative community impact are included in the benchmark. Indicators include human rights and environmental management and impact assessment on company and project level, FPIC process and stakeholder consultation, Severity, Responsiveness to controversies, and Remediation.  

Failure to adequately manage community relationships erodes value, through for example increased financial, operational and regulatory risks. Poor management of community issues also conflict with the long-term, shared interest in promoting responsible and sustainable development in communities where companies operate. Our ownership activities, including engagement, with companies aims at promoting sustained profitability and risk management in portfolio companies in order to protect shareholder value and enhance long-term returns. 

Voting
Nordea-investor

Making ownership count 

Nordea Funds believes that active ownership is paramount in creating returns with responsibility. As we are a major owner in many companies, both in the Nordics and globally, we vote at annual general meetings according to our corporate governance principles. We strive for transparency and this voting portal demonstrates our voting, both at the AGMs we physically attend and our proxy voting. The portal is updated continuously and contains our historical voting since the 2016 season. 

Besides voting, Nordea Funds also demonstrates stewardship and active ownership through representation on nomination committees and through dialogue and engagement activities with companies.

To see how we are voting, visit our Voting Portal.

All question related to voting or this portal can be directed to:
Erik Durhan, Head of Corporate Governance – erik.durhan@nordea.com

Voting Summary 2019