Page 22 - SKR-annual-report-2022-EN
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22 THE CULTURAL FOUNDATION’S YEAR

  Sustainability at the Finnish
        Cultural Foundation

                   Sustainable investment

EARLY 2000s        •	 The Foundation manages its assets responsibly                2022
     Exclusion         and for the long term. Its investment activities            Annual
     practices         are well planned and monitored.                       comprehensive
                                                                           ESG assessment of
  (e.g. tobacco)​  •	 The Foundation takes into account                          portfolio
                       environmental, social and corporate governance
       2011            (ESG) criteria in choosing and monitoring its               2020
      Annual           investments in all asset classes.                   ESG/Sustainable
 sustainability                                                            investment policy​
 assessment of     •	 The Foundation applies diverse sustainable
domestic equity        investment approaches, including exclusion,
  investments          ESG integration, active ownership and impact
                       investing.

                   •	 The sustainability of the portfolio is assessed
                       monthly, based on ESG data from MSCI. This
                       data covers over 60% of the portfolio. It does
                       not cover alternative investments or direct real
                       estate investments.

                   •	 Sustainability reports are also obtained on
                       alternative investments (private equity and
                       private debt investments, as well as forest
                       investments).

                   •	 According to sustainability analyses conducted
                       on invested assets in 2022, the Foundation’s
                       equity portfolio is in line with the Paris Climate
                       Agreement.

                   •	 The carbon intensity of the foundation’s current
                       equity portfolio has been going down by
                       approximately 15% per year since 2019, while
                       the portfolio’s carbon footprint is 5% lower than
                       that of the specified benchmark.

     2011                 2018                                                  2019​
                   Ownership policy                                            Monthly
   Partners                                                                ESG reporting
committed to

   UNPRI or
  equivalent
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