KLP and Society 2007 KLP and Society PAGE 3

KLP and Society 2007 KLP and Society PAGE 3

KLP OG SAMFUNNET SIDE 1 Billions of opportunities to change the world: KLP and Society 2007 KLP AND SOCIETY PAGE 3 The report This is the third year running that KLP has published a social responsibility report. The report is issued annually. This edition contains report data for the calendar year 2007, in addition to a plan of action for 2008. The publication date is How? May 2008. All the money we invest on behalf of our customers KLP and Society is a tool to present good results, and to unveil areas which require further development. The first and our own company provides us with an opportunity Table of contents section of the report provides examples of successful coop- 4 Introduction by the CEO to display our principles and our ambitions. We make eration and projects which have been executed in 2007. In 6 Values and foundations the section approved by the Board of Directors (pages 18 to full use of these opportunities. Our customers have 10 Ethical exclusion 27), KLP has chosen to report according to the principle of a 12 HSE with a sense of humour triple bottom line. The aim of this section is to describe how transferred almost 200 billion kroner (40 billion USD) 14 Partners in climate in 2007 the group has contributed towards improvements, to us, which we manage to the best of our abilities. 16 Environmental profile required or possibly deterioration, of economical, environmental and 18 Social responsibility report social factors, on a local, national and global scale. The plan of For us, however, it is equally important to invest in a Economy action on pages 28 and 29 displays how the group intends 20 Environment way which benefits society and the environment, to prioritise its future activities related to social responsibility. 22 25 Society as it is to secure high returns. The two factors are KLP has a target to standardise its reports according to the 28 Plan of action intrinsically interlinked. international reporting standard, GRI (Global Reporting Initia- 30 GRI table tive). This year’s report contains a number of new reporting variables, particularly in terms of economy and the environ- ment, and comprises a so-called GRI matrix, displaying the different GRI indicators described in the report. In principle, the report deals with the group as a whole, but for certain variables it has been impossible to come up with numbers that include the whole group. If not otherwise specified, the report describes the entire group. It has also proved difficult to identify relevant comparisons on a national and global scale, which can help describe KLP’s situation in relation to other actors in the branch. Likewise, we do not have suffi- cient data for certain material factors. However, KLP is of the opinion that the report satisfies GRI level C. The report is KLP’s “Communication on Progress” (COP) to Global Compact. It is intended to present how KLP complies with the 10 principles laid down by Global Compact, detailed on page 6. For more detailed information on our work related to social responsibility, go to www.klp.no/Om KLP/samfunnsansvar Contact persons: CSR Manager Cornelia Moseid. Email: cmo@klp.no Head of Responsible Investments Jeanett Bergan. Email: jeb@klp.no PAGE 4 KLP AND SOCIETY KLP AND SOCIETY PAGE 5 2007 will go down in history as the An excellent “ turning point for climate awareness. activities. 2007 also saw KLP signing the This report describes KLP’s position from the UN’s Principles for Responsible Investment perspective of social responsibility. However, climate for social (PRI). These are six principles which signalise this position is far from static. Society is a stronger commitment to the integration of constantly changing, along with global environmental, social and governance issues requirements and expectations of a financial in the management of pension and insurance corporation such as KLP. Our goal is to take funds. A new policy for Corporate Governance these challenges seriously so that we can help was also adopted, providing a solid basis upon create the very best premises for us all – for responsibility which the Group can influence the companies the days to come. in which it has shareholdings – for example, by voting at Annual General Meetings. For I hope you will find this report of interest, and the very first time in 2007, KLP executed that it will be a source of joy and its voting rights at international General inspiration. At KLP, we are preparing for the days to come. By assuming social and Meetings. The company’s ethical guidelines were reviewed in the summer of 2007, and environmental responsibility, the KLP Group aims to contribute towards the Group is currently working on pilots for dilemma training. sustainable development on a local, national and global level. 2007 was also the year when KLP developed its very first environmental policy, laying down guidelines for the company’s long-term CEO environmental goals. This policy was partly Sverre Thornes motivated by KLP Skadeforsikring’s custom- ers, who introduced specific environ mental requirements for participation in tenders. In 2002, the Group implemented its policy for 76% of Norwegians are anxious about the Looking forward, purchasing and property ethical investments, encompassing environ- consequences of climate change, and 82% management will be at the focal point for mental, social and business ethical issues. are worried about the quality of life of future environmental development. One of the The Group also compiled a policy for socially generations (Source: WWF). Climatic impact group’s main efforts towards meeting its responsible conduct in 2006. This highlighted was also a focus area for KLP, and the Group environmental challenges in these areas is the requirement for all parts of the Group’s prepared its very first set of greenhouse gas the construction of the new main office in activities to reflect a high standard in terms accounts. The Group decided to purchase Bjørvika, scheduled for completion in 2010. of human rights, working conditions, the en- CO2 quotas to neutralise emissions from our vironment and business ethics. Pensions and activities. KLP also became the Norwegian KLP not only aims to be the preferred partner insurance are long-term activities. By taking partner for the international initiative, Carbon for customers and suppliers, the Group also a larger perspective of our role, we will be Disclosure Project (CDP). CDP asks companies works hard to attract expert and motivated able to meet all our targets and challenges to to submit reports on their impact on the cli- employees. A new HR strategy was prepared the benefit of our customers, employees and mate, working to increase awareness and the in 2007, providing an efficient tool for ensur- society in general. likelihood of measures being implemented to ing high levels of expertise, good manage- reduce such impact. For more detailed infor- ment and a motivating working environment. 2007 will go down in history as the turning mation about CDP, see a more comprehensive Our cooperation with the Blue Cross took point for climate awareness. The award of presentation on pages 14-15. on a new dimension when KLP employees the Nobel peace prize to Al Gore and the UN participated at the Blue Cross summer camp. climate panel, and the climate summit in Bali, KLP continues its participation in the UN By allowing employees to carry out voluntary were the culmination of a year when both initiative, Global Compact. The principles of work during working hours, KLP hopes to politicians and commerce acknowledged to a Global Compact, detailed on page 6, have encourage employees to get involved and greater extent the reality of climate change. therefore been integrated into all the Group’s make a contribution. PAGE 6 KLP AND SOCIETY KLP AND SOCIETY PAGE 7 KLP and Society is a documentation of how the KLP group works, apply­ ing a long­term and sustainable perspective. The work on corporate social Values and responsibility is based on the same strategies and management tools which define how the group as such is running its business. This is an overview foundations of the most important references for exercising KLP’s social responsibility. 1: 2: 3: 4: 5: 6: 7: 8: Vision and values Global Compact Ethical guidelines Social responsibility Management system Strategy for respons­ Environmental policy The UN’s principles KLP’s vision is to be the best Global Compact is a network KLP reviews its ethical guide- strategy KLP applies balanced score cards ible investment In 2007, KLP developed an for responsible partner for the days to come. initiated by the UN, which lines on an annual basis. The The group management has as an important management tool. Our investment strategy reflects environmental policy. This is a investment (PRI) Our cooperation with customers mobilises businesses and vol- ethical guidelines are intended Social responsibility is an integral document which ratifies the adopted a social responsibility our aim to support and respect The UN’s principles for and other interested parties shall untary organ isations towards a to encourage employees and, element on the CEO’s score card, company’s intention to establish strategy which, together with human rights, workers’ rights, the responsible investment (PRI) be signalised by KLP’s values: sustain able world. KLP has been a where suitable, members of the and all business units share the binding requirements on their the company’s values and ethi- environment and ethical business The UN’s principles for responsi- openness, clarity, responsibility member of Global Compact since boards of the parent company responsibility to fulfil these goals. own environmental performance cal guidelines, substantiates the principles, in accordance with our ble investment are voluntary and and involvement.

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