Kommunal Landspensjonkasse (KLP) is Norway’s largest pension insurance company. It delivers pension, financial and insurance services to the public sector, businesses associated with the public sector and their employees. As of September 2019, KLP has total assets of NOK 650 billion (€67 billion).[1]
The KLP Guidelines for Responsible Investment state that KLP will exclude investments in “companies that produce weapons that violate fundamental humanitarian principles through their normal use”.[2] KLP guidelines are aligned with the ethical guidelines for the Norwegian Government Pension Fund and KLP generally follows the recommendations made by the Council on Ethics of the Norwegian Government.[3]
The policy applies to all assets managed by internal and external asset managers.[4]
KLP uses an exclusion list based on research by Global Engagement Services (GES) and the recommendations on the Council on Ethics of the Norgwegian Government Pension Fund to implement the policy. As of May 2019, the list contains the following companies for activities related to weapons: AECOM; Aerojet Rocketdyne Holdings; Airbus; Airbus Group Finance; BAE Systems; Boeing; BWX Technologies; Fluor; General Dynamics; Hanwha; Honeywell International; Huntington Ingalls Industries; Jacobs Engineering; Lockheed Martin; Northrop Grumman; Northrop Grumman Innovation Systems; Poongsan Holdings; Poongsan; Raytheon; Safran; Serco and Textron.[5]
Website: https://www.klp.no/
Facebook: https://www.facebook.com/klp.no
Linked-In: https://www.linkedin.com/company/klp/
[1] KLP, “About KLP”, website KLP (http://english.klp.no/about-klp/facts), viewed 29 January 2019.
[2] KLP, “Guidelines for KLP as a responsible investor”, 8 December 2017, page 4, available from: http://english.klp.no/polopoly_fs/1.39178.1513197530!/menu/standard/file/Guidelines%20for%20KLP%20as%20a%20responsible%20investor.pdf, viewed 29 January 2019.
[3] KLP, “Guidelines for KLP as a responsible investor”, 8 December 2017, page 4, available from: http://english.klp.no/polopoly_fs/1.39178.1513197530!/menu/standard/file/Guidelines%20for%20KLP%20as%20a%20responsible%20investor.pdf, viewed 29 January 2019; KLP, written response to Profundo dated 30 May 2014.
[4] KLP, written response to Profundo dated 30 May 2014.
[5] KLP, “Exclusion and dialogue“, KLP website (https://www.klp.no/en/corporate-responsibility-and-responsible-investments/exclusion-and-dialogue), viewed 25 September 2019; KLP, “Guidelines for KLP as a responsible investor”, 8 December 2017, page 4, available from: http://english.klp.no/polopoly_fs/1.39178.1513197530!/menu/standard/file/Guidelines%20for%20KLP%20as%20a%20responsible%20investor.pdf, viewed 29 January 2019; written response to Profundo dated 30 May 2014.