pfa’s cr strategy 2017-2020
TRANSCRIPT
PFA’s CR strategy 2017-2020
For PFA, assuming co-responsibility for the developments in society is a fundamental part
of its business model. PFA was founded by labour market parties in 1917 in order to ensure
mobility on the Danish labour market and create a financial safety net for its customers.
” Accountability” is one of PFA’s three core values, and PFA’s most important job is to
ensure that the individual customer has the freedom to live a fulfilling life – also after the
customer’s working days are over or if he/she suffers a serious illness.
We believe that our size places an obligation on us. As the largest commercial pension company in
Denmark, we must live up to our corporate responsibility and contribute to identifying long-term
sustainable solutions to the fundamental challenges of society.
The objective of the strategy
The strategy ‘Investing in a sustainable society 2017-2020’ gives a clear direction for PFA’s future work
with corporate responsibility and for how PFA will contribute to societal developments in selected areas.
‘ Investing in a sustainable society 2017-2020’ collects PFA’s work with responsibility into three focus areas:
• Responsible investments, respect for human rights and sustainable business models
• Health, well-being and the third age
• Partnerships and knowledge sharing
Thus, the purpose of the strategy is to set ambitions and targets for the work with responsibility as
well as to illustrate how PFA contributes to creating a sustainable society.
Key elements of PFA’s corporate responsibility
The strategy gives priority to those areas where PFA as a business can have the greatest effect and
where we can best put our knowledge and competencies into play. It builds on PFA’s existing work with
and policy for corporate responsibility, and it has been developed based on input from those who every
day work to see PFA contribute to the development of society: Our employees.
PFA’s corporate responsibility policy is based on four key elements: Responsible value creation, Society,
Customers and Employees.
Responsible value creation
Responsibility is an important value for PFA. PFA is a responsible investor that creates a high and
long-term investment return, where the customers can trust that their savings are invested with
respect for human beings, the environment and internationally recognised conventions.
Society
PFA contributes to the development of society by bringing knowledge and expertise from PFA’s core
activities into play and by ensuring that we live up to PFA’s values: Professional, Fair and Accountable.
PFA’s role in Danish society means that PFA is in dialogue with relevant stakeholders and contributes to
qualifying new legislation and regulations, just as PFA communicates openly about activities and results.
Investing in a sustainable society
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Customers
PFA focuses on the individual pension customer and the different needs each customer has. In its dialogue with the
customers, PFA wishes to communicate and facilitate in an easily accessible and understandable manner and be
present on the digital platforms that the customers use. Customer feedback, satisfaction and expectations are very
important to us. Among other things, this is reflected in the fact that PFA has a customer representative, who func-
tions as the customers’ ambassador in PFA.
Employees
PFA’s employees are vital for PFA’s ability to act in a professional, fair and accountable manner. Therefore, PFA
creates a framework for an attractive, efficient and healthy workplace which encourages learning, competence
development, employee involvement and compliance with PFA's values.
Focus areas of the strategy
The strategy is based on three overall focus areas, which are based on our corporate responsibility policy with
its four key elements and PFA’s core business. These are areas where PFA can contribute with its knowledge
and experience to make a difference:
• Responsible investments, respect for human rights and sustainable business models
• Health, well-being and the third age
• Partnerships and knowledge sharing
PFA has rated the focus areas against the UN’s 17 global goals for sustainable development and has, on this
basis, prioritised the 5 goals for sustainable development most relevant to our initiatives. In these goals, we
have also integrated our focus on working with respect for human rights throughout the investment process:
• Climate action
• Affordable and clean energy
• Good health and well-being
• Responsible consumption and production
• Partnerships for the goals
The model below illustrates how the focus areas and the goals for sustainable development interplay:
PFA’s focus areas UN goal
Responsible investments, respect for human rights and
sustainable business models
Climate action
Affordable and clean energy
Health, well-being and the third age Good health and well-being
Partnerships and knowledge sharing
Responsible consumption and production
Partnerships for the goals
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1. Responsible investments, respect for human rights and sus-tainable business models
As a global investor, we have a significant responsibility for managing our customers’ money with care and skill,
but also for placing the money in a way that supports positive societal developments. A high long-term return
and responsible, sustainable business models are not opposites - rather the reverse. Our size makes it possible
to place expectations on the companies, properties and projects we invest in. That places an obligation on us.
We expect the companies that we invest in to have responsible management systems. As a responsible inve-
stor, we focus on promoting transparency and we are in ongoing dialogue with companies about the challen-
ges they face and the results they achieve in their work with responsibility.
We integrate respect for human rights into the investment process and in the dialogue with the companies. At
the same time, we expect the companies to be able to account for their risk assessment – also in relation to
the human rights risks that the company’s activities may entail.
Our contribution to the global green transition entails that we expect the companies that we invest in to
comply with the obligation stated in the Paris Agreement to reduce greenhouse gases. In addition, we will map
out the CO2 emissions from our share and property portfolio.
In relation to PFA’s in-house initiatives, we will continue to focus on reducing energy, waste and resource con-
sumption as well as reporting on the annual energy consumption and CO2 emissions. We communicate about
our work with human rights risks and work with responsible management systems and Code of Conduct in the
procurement process in order to ensure responsible use of resources.
2. Health, well-being and the third age
With 100 years of experience as a supplier of pension and health insurance, we have accumulated substan-
tial knowledge of health, well-being and pension. We have more than 1.2 million customers and more than
500,000 of them have an insurance plan with us that covers in case of illness or reduced occupational capaci-
ty. This way, we contribute to mobility and safety on the Danish labour market.
We also cooperate with our corporate and organisational customers on programmes designed to prevent ill-
nesses and offer quick help if necessary. As part of our further initiatives, we will identify whether there are
any concrete projects where our business partners may benefit from our knowledge and experience so that we
together can create solutions that help the employees return to work.
In future, we will focus on changes in living conditions caused by the increase in life expectancy for the indivi-
dual and society. We will do so through a number of initiatives in 2017 with the purpose of contributing to the
public debate and setting up solution scenarios of how to improve the settings for the transition into the third
age, including the transition from being part of the labour market to a life in retirement.
With regard to health and well-being for PFA’s employees, PFA will also focus on a range of initiatives to pro-
mote both health and working environment within PFA.
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3. Partnerships and knowledge sharingWe regularly make our knowledge about pension and health available to society. In future, we will pro-
ceed in a more structured manner in order to ensure that our contribution to the societal developments
lives up to the co-responsibility we wish to take. Therefore, we will identify and carry out initiatives
where PFA, with its knowledge, competencies and resources, can cooperate with external partners in
order to contribute to solving the challenges that society faces with regard to pension and health.
At the same time, PFA is in dialogue with a wide range of stakeholders to learn more, put new
knowledge into practise and through that develop a cooperation based on common challenges and
solutions. This covers dialogue with customers, NGOs as well as trade organisations. This knowledge
sharing will also be structured to a greater extent in order to ensure that we cooperate with the
relevant partners on solving specific challenges.
One of our focus areas will be to involve our employees in specific CR activities, such as after-work
meetings, but also in the work with targeting information about pension to provide special target
groups with relevant and easily understandable information about pension matters and insurance
cover. For example, we want to provide knowledge about pension and its role in the economy to
students and newly educated persons and thus give them a good chance of creating the life they want
– also in the long run.
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Investing in a sustainable society 2017-2020Specific focus areas for 2017
Below is an overview of the current and projected activities prioritised according to how PFA in the best
way possible lives up to its corporate responsibility and contributes to sustainable societal developments.
The overview is based on the key elements defined in PFA’s policy for corporate responsibility.
Responsible value creation
1. Implementing investment processes that focus on ensuring that the CO2 emission complies with the
Paris Agreement. Including preparing a method to identify companies which work against the Paris
Agreement, and initiating a dialogue with selected CO2 intensive sectors.
2. Publishing a strategy and method of application of the UN Guiding Principles on Business and
Human Rights in the investment process, beginning the implementation in selected sectors and
communicating about the progress of the work.
3. Integrating policy and principles of responsible investments in property investments and alternative
investments and ensuring that ‘responsible tax’ is integrated into screening of and active ownership
dialogue with companies in our company portfolio.
4. The planning of the renovation of Marina Park will in particular concentrate on ensuring a healthy
working environment for the employees and reuse of the existing building stock.
Society
5. Creation of a think tank focused on the third age in order to contribute to the public debate with
potential solutions to increased life expectancy.
6. Mapping out potential use of properties and material in a more energy and resource efficient way.
7. Defining targets and fixing KPIs for PFA’s contribution to society in relation to the five global goals
that PFA has given priority to.
Customers
8. Increasing knowledge about pension, targeting communication to specific groups and revitalising
the Pension Estimator.
9. Mapping out the options of cooperation with external experts and suppliers to ensure better
expertise and more options when it comes to helping the individual in a safe and secure manner to
return to work after an illness or accident.
Employees
10. Involving employees in specific projects through after-work meetings, mentor systems etc.
11. Revitalising PFA Health Strategy.
Continuation of existing initiatives
12. Responsible investments: Minimum 10 Responsible Investment Board meetings per year with focus
on screening of investments, active ownership dialogue with companies and communication about
the progress of the work.
13. Working on Code of Conduct during the closing of contract process as part of responsible
procurement.
14. Supporting and cooperating with associations and projects which are elected by PFA Brug Livet Fonden.
15. Organised NGO and customer dialogue about prioritised efforts within corporate responsibility.
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