PFA is entrusted with the pension and health insurance plans of more than 1 million people in Denmark. Therefore, we have a responsibility as a company, investor and employer and we strive to contribute to the wider society. PFA’s corporate responsibility policy sets the framework for our priorities and work within this area, and PFA has drawn up a three-year Corporate Responsibility (CR) strategy, which unifies this work.
Policy for corporate responsibility
The policy is based on the internationally recognised UN principles and conventions that focus on respecting human rights, employee rights, the environment and anti-corruption. This includes the UN Global Compact’s 10 principles, which PFA signed in 2009, as well as the UN-backed principles for responsible investments, PRI and the Paris Agreement, which was concluded during COP21.
CR strategy: Investing in a sustainable society 2017-2020
The CR strategy ‘Investing in a sustainable society 2017-2020’ builds on PFA’s policy and current work with corporate responsibility. The strategy gives a clear indication of our work in future, collects new and existing efforts and identifies ambitions and goals for how we can contribute to creating a sustainable society. The strategy gives priority to those areas where PFA as a business has the greatest effect, and thus the greatest influence, on society. In addition, the strategy gives priority to those of the UN’s Global Goals that are the focus of our attention. In 2017, our work on corporate responsibility has been based on the realisation of the strategy’s 15 specific activities.
The international principles
UN Global Compact
PFA is obligated to include UN Global Compact’s ten principles in the company’s business activities and to prepare an annual report about its efforts to Global Compact’s secretariat.
UN Global Compact’s ten principles
1. Businesses should support and respect the protection of internationally proclaimed human rights
2. Businesses should make sure that they are not complicit in human rights abuses
3. Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining
4. Businesses should support the elimination of all forms of forced and compulsory labour
5. Businesses should support the effective abolition of child labour
6. Businesses should eliminate discrimination in respect of employment and occupation
7. Businesses should support a precautionary approach to environmental challenges
8. Businesses should undertake initiatives to promote greater environmental responsibility
9. Businesses should encourage the development and diffusion of environmentally friendly technologies
10. Businesses should work against corruption in all its forms, including extortion and bribery.
Principles for Responsible Investment (PRI):
The six UN-backed PRI principles are:
1. We will incorporate ESG issues into investment analysis and decision-making processes
2. We will be active owners and incorporate ESG issues into our ownership policies and practices
3. We will seek appropriate disclosure on ESG issues by the entities in which we invest
4. We will promote acceptance and implementation of the Principles within the investment industry
5. We will work together to enhance our effectiveness in implementing the Principles
6. We will each report on our activities and progress towards implementing the Principles.