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 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.”[ii]
The exclusion policy applies to all asset management activities. External asset managers are instructed to comply with the policy.[iii]
Over the past years, Storebrand Group has significantly increased the number of companies it excludes for involvement with controversial weapons, from 13 companies in 2012 to 25 in 2014. The list is limited to companies included in the MSCI All Country Indexes, the Oslo Stock Exchange and the Stockholm Stock Exchange, which make up Storebrand Group’s investment universe. The exclusion list, based on information from data provider Sustainalytics, is not made public.[iv]
Congratulations Storebrand Group!Read 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 15 May 2015.
[ii] 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 11 May 2015.
[iii] Storebrand Group, written response to Profundo dated 23 May 2014.
[iv] Storebrand Group, written response to Profundo dated 23 May 2014.