SPP, the Swedish business that is part of the Norwegian Storebrand group, has achieved highest marks across all categories considered in Nordic consultant Max Matthiessen’s latest report on “Responsible Ownership” – the only group surveyed to achieve this.
It is the sixth year in a row that SPP has done well in the report, which looks at both traditional insurance based pension providers, as well as unit linked business. For traditional insurance the focus has been on how pensions providers take account of responsible investments in portfolios. In the area of unit linked, the funds are rated but also according to which criteria pension providers engage in when buying funds.
In traditional insurance, SPP scored ‘well approved’, meeting requirements for: sustinability to be integrated and prioritised from the start; having a focus on selecting investments that are considered more ‘sustainable’ for several parts of the portfolio; and for demonstrating an ability to avoid wrong steps by having a lower exposure to asset classes, management forms or products with higher ESG risk.
Max Matthiessen said its latest annual report had found clear improvements versus the first report published six years ago, with “no company not making some sort of reference to ESG”, although there are still difference in the degree to which ESG is implemented by the largest providers of long term savings solutions in the Swedish market.
Johanna Landberg, head of Sustainability at SPP, said: “The company’s investment philosophy starts with the idea that sustainable business development is the biggest investment opportunity of our time, something more and more customers need and are beginning to understand.”
Provider firms were graded to three levels across the categories considered: well approved, approved, not approved.
To read the report, click here: Ansvarsfullt ägande 2018-19