During 2024, we continued to develop our responsible investment processes and implement them in practice as part of our investment activities. We conducted our annual ESG survey among our asset managers, allowing us to clarify, for instance, climate-related risks and opportunities as well as the asset managers’ commitment to the climate goals.
Of the asset managers who responded to the 2024 survey, all except one reported having a responsible investment policy in place that outlines the principles of responsible investment and their application in investment activities. It is essential to us that ESG issues are taken into account in investment activities in a way that is appropriate for the asset class in question and the investment strategy of the specific asset manager.
Results of the ESG survey
| 2024 | 2023 | 2022 | 2021 | |
| Number of respondents | 60 | 52 | 42 | 47 |
| Response rate | 91% | 80% | 71% | 94% |
| ESG policy | 98% | 100% | 86% | 89% |
| PRI signatories | 82% | 83% | 83% | 83% |
| Climate policy | 60% | 62% | 62% | 43% |
| Carbon footprint calculation | 72% | 71% | 64% | 47% |
| Carbon neutrality target | 35% | 35% | 36% | - |
The systematic assessment of the responsible investment processes, resources and activities of external asset managers is an integral part of our investment decisions and the continuous monitoring of asset managers. The assessment also serves as a tool and foundation for discussions with asset managers regarding the development of responsible investment activities.
We monitor the actualisation of responsible investment annually by reporting to the PRI. Based on our reporting, the PRI assesses our performance in responsible investment activities and scores our activities. The PRI does not give an overall rating, but different functions and asset classes are assessed separately. Our goal is to be above the median grade in all sub-ratings.
We succeeded excellently in the 2024 assessment. Our responsible investment activities in different asset classes are more advanced than those in international benchmark companies and our goal-oriented work is reflected in the improvement of our ratings compared to the previous year. The assessment also provides us with valuable information on the continued development of our responsible investment activities.
Target 4: We are developing our investment activities towards an increasingly responsible direction
Year 2025: New perspectives and increasing knowledge
Responsible investment is constantly evolving. For example, the defence industry is getting increasing attention from the perspective of responsibility, and as geopolitical tensions increase, the role of the defence industry as an investment will be reassessed. An increasing number of investors view the defence industry as part of social responsibility, because it plays a key role in maintaining the security and stability of society.
The EU Corporate Sustainability Reporting Directive (CSRD) represents a significant change in terms of the availability of information on responsible investment (the situation at the end of 2024). With the new regulations, ever more companies are obliged to report their sustainability data in a standardised format. For investors, this signifies an enormous amount of new sustainability data. Comparability is also improved by companies reporting on key sustainability themes in a uniform manner. Investors have the opportunity to conduct deeper analyses and use data to assess sustainability risks and opportunities. As sustainability data for companies becomes more reliable and consistent, this helps integrate responsibility into investment strategies.
Time will show how the new sustainability reporting standards will change investment market practices. Investors can now make increasingly informed and impactful decisions by utilising new data and assessing responsibility from new perspectives. In this way, responsible investment will develop to be increasingly diverse and to cover a wider range of industries and data-driven solutions.