December 22, 2008
Three pension companies from Finland, Norway and Sweden have joined together as the Nordic Engagement Cooperation (NEC) to coordinate engagement activities with companies on environmental, social and governance (ESG) issues.
Ilmarinen from Finland, Folksam from Sweden and Kommunal Landspensjonskasse (KLP) from Norway, have formed the group, which will be based on a systematic screening of around 4,500 companies.
The screening and analysis will be performed by GES Investment Services, where it will identify and examine possible violations of international conventions and guidelines on ESG issues, which in turn will lead to around 20 companies being selected for further analysis.
By Nyree Stewart