Norway’s largest investors want to actively influence companies in the country to focus on sustainability. Several of them have initiated a new cooperation project entitled “Sustainable value creation” with this view.
27/08/2008 ::
The project was presented to the Oslo Stock Exchange in August by the Norwegian Minister of Finance, Kristin Halvorsen.
The investors behind the initiative believe that this is an important way of promoting long-term value creation that ensures and balances financial, environmental and social values.
Mapping sustainability
In connection with the launch of the project, a questionnaire is being sent out to all the companies on the benchmark index of the Oslo Stock Exchange to map how sustainable their business operations are. The questionnaire also looks at board responsibility and reporting with regard to this issue.
The questionnaire ensures a common platform for information, and the results will give investors a ready overview of these companies’ standpoints. The idea is that this will have greater influence on companies than individual investors would have been able to exert on their own.
The actors behind the initiative are Alfred Berg, DnB NOR, Folketrygdfondet, Gjensidige, KLP, Nordea, the Ministry of Trade and Industry, Odin, StatoilHydro Kapitalforvaltning, Storebrand and Vital. Altogether, the investors supporting the project represent assets amounting to NOK 2 700 billion, NOK 1 000 billion of which is invested directly in the Norwegian market.
Minister of Finance Kristin Halvorsen rang the bell at the Oslo Stock Exchange. Also present were, from the left: Olaug Svarva, Managing Director, Folketrygdfondet; Bente A. Landsnes, President and CEO, Oslo Stock Exchange; and Arild Orgland, Chairman of the Board, Alfred Berg. Photo: Bjørn Sigurdsøn / SCANPIX.