James Gifford’s presentation was on the topic of company engagement. Erik Feldt explained why Nordea recently chose to sign the UNPRI.

The key to effective engagement, according to James Gifford, is to have a strong business-case argument at the company or portfolio level. It is important that the investor picks their targets carefully and persists with the case. As engagement is a time consuming process it is a good idea to collaborate and pool resources with other investors. It is also important that the investor is willing to escalate the engagement process if the company does not improve.

The reason Nordea signed the UNPRI, explained Erik Feldt, is that they want to communicate that they take responsibility as a major Nordic investor. They see signing the Principles as a starting point that will eventually flow through all their work. Nordea will, in partnership with Ethix and Hermes, engage with companies in their portfolio and seek to influence them to be socially responsible.

The UN PRI is an investor initiative in partnership with UNEP Finance Initiative and the UN Global Compact. UN PRI is signed by more than 270 investors representing more than USD 13 trillion. www.unpri.org