Storebrand Group is a leading institution in the Nordic market for long-term savings and insurance, serving 1.8 million customers in Norway and Sweden.[i] Storebrand manages more than NOK 560 bn (€60 billion) and is Norway’s largest asset manager.[ii]
Storebrand Group’s sustainable investment principles state that the group “will not invest in companies involved in the development and/or production of controversial weapons; testing of controversial weapons; production of components to be used exclusively for controversial weapons; or stockpiling and/or transfer of controversial weapons. This criterion includes but is not limited to: landmines, cluster munitions, nuclear weapons and biological and chemical weapons.”[iii]
The exclusion policy applies to all asset management activities. External asset managers are instructed to comply with the policy.[iv]
Storebrand bases its exclusions on companies in MSCI AC + companies on the Swedish and Norwegian stock exchanges.[v] The final decisions are made by an investment committee, which is made up of selected representatives from the Storebrand Group.
As of the end of the second quarter 2016, Storebrand Group has excluded 24 companies for involvement with controversial weapons: Airbus; Babcock Intl; BAE Systems; Boeing; Finmeccanica; Fluor; General Dynamics; Hanwha; Harris Corporation; Honeywell International; Jacobs Engineering; Larsen & Toubro; Lockheed Martin; Northrop Grumman; Oceaneering; Raytheon; Rockwell Collins; Rolls-Royce; Safran; Singapore Technologies Engineering; Textron and Thales.[vi]
Storebrand Group actively supports a world without nuclear weapons and supports the International Campaign to Abolish Nuclear Weapons (ICAN) efforts in the Norwegian campaign.
Congratulations Storebrand Group!Read or edit the petition
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I saw on www.dontbankonthebomb.com that you have a comprehensive policy prohibiting investments in nuclear weapons producing companies.
Financial institutions like yours are helping to build the stigma around these inhumane weapons, something that is urgently needed. Nuclear weapons are the only weapon of mass destruction that’s not explicitly outlawed through an international treaty- and thanks to your policy we can show how important and necessary it is that all of society act urgently to prohibit and eliminate nuclear weapons once and for all.
Thank you for your help in creating a nuclear weapons free world.
With kind regards,
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[i] Storebrand Group, “About Storebrand”, website Storebrand Group (http://www.storebrand.no/site/stb.nsf/Pages/hovedsideaboutus.html), viewed 22 September 2016.
[ii] Storebrand Group, “Storebrand ASA: 1st Quarter Result 2016: Storebrand delivers solid results in a turbulent market”, 27 April 2016, available at http://news.cision.com/storebrand-asa/r/storebrand-asa–1st-quarter-result-2016–storebrand-delivers-solid-results-in-a-turbulent-market,c9964693, viewed 22 September 2016.
[iii] Storebrand Group, “Sustainable Investments – Minimum Standard”, August 2014, p.2, available at http://www.storebrand.no/site/stb.nsf/Get/get5773cc2574cf4b034bcceb18c35ca410/$FILE/MinimumStandard-eng.pdf, viewed 22 September 2016.
[iv] Storebrand Group, written response to Profundo dated 23 May 2014.
[v] Storebrand Group, written response to PAX dated 26 May 2016.
[vi] Storebrand Group, “Bærekraftige investeringer i Storebrand Q2 2016”, available at https://www.storebrand.no/om-storebrand/barekraft/rapporter/_attachment/5564?_ts=156554a2811, viewed 22 September 2016.