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  • Overall approach
    10/16
    • Overarching commitment on deforestation
      8/14
      Deforestation commitment
      Reduce deforestation
      8/14
      "Companies engaged in activities with a direct or indirect impact on tropical forests should assess their life cycle impacts and have a strategy for reducing deforestation from their own activities and/or supply chains. Companies should adopt, where appropriate, “no deforestation, no peat, no exploitation” policies."
    • Company must have anti-corruption policy
      2/2
      Anti-corruption
      Anti-corruption policy; Policy prohibiting abusive tax arrangements
      2/2
      "We expect companies to identify and manage corruption risk, including the risk of laundering money derived from corrupt activity, and to report publicly on their anti-corruption efforts. [...] Boards should ensure that companies establish anti-corruption policies and procedures to prevent, identify and address corruption in the organisation. Anti-corruption policies should be informed by a comprehensive risk assessment relating to the potential for corruption in all aspects of business operations." "Our expectations on tax and transparency rest on three main principles. The first is that taxes should be paid where economic value is generated. The second is that company tax arrangements are a board responsibility. The third is that public country-by-country reporting is a core element of transparent corporate tax disclosure."
  • Commodity score
    28/64
    • Beef & Leather
      19/64
      • Commitment Strength
        17/42
        • Commodity-specific financing policy
          0/9.6
          • Commitment details
            No
            0/8
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
        • Companies must be legally operated
          3.6/5.6
          • Commitment details
            Own operations - Require
            2/4
            Commitment details
            Own operations - Require
            2/4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
        • Companies must protect priority forests or globally important landscapes
          7.6/9.6
          • Commitment details
            Primary/Intact/Natural/HCV/HCS - Required
            6/8
            Commitment details
            Primary/Intact/Natural/HCV/HCS - Required
            6/8
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes."
        • Assurance mechanism to ensure compliance
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
        • Companies must have a grievance mechanism
          5.6/5.6
          • Commitment details
            Yes - Require
            4/4
            Commitment details
            Yes - Require
            4/4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
        • Commitments must be timebound
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
      • Social Considerations
        3/22
        • Company must ensure Free, Prior and Informed Consent
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
        • Company must respect labour rights
          2.6/5.6
          • Commitment details
            Own operations - Encourage
            1/4
            Commitment details
            Own operations - Encourage
            1/4
            Type of policy: ILO
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
    • Palm oil
      32/64
      • Commitment Strength
        30/42
        • Commodity-specific financing policy
          9.3/9.6
          • Commitment details
            Yes
            8/8
            Commitment details
            Yes
            8/8
            Type of policy: Deforestation-free
            "We contacted several of the companies to obtaininformation on how they managed the risk ofdeforestation. We also enquired whether theyhad joined the Roundtable on Sustainable PalmOil, which provided an international certificationscheme for sustainable palm oil production. Thefund then exited a number of minor investmentswith elevated risk and unwanted exposure. Thisled to our first systematic divestmentprogramme. We decided to reduce the fund’sexposure to small companies in the farming andfishing sectors with plantations in Malaysia orIndonesia that derived 20 percent or more oftheir revenue from the production of palm oiland had no clear plan to achieve 100 percentsustainable palm oil certification within a year.Based on these criteria, we divested from 28companies between 2010 and 2014." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "We contacted several of the companies to obtaininformation on how they managed the risk ofdeforestation. We also enquired whether theyhad joined the Roundtable on Sustainable PalmOil, which provided an international certificationscheme for sustainable palm oil production. Thefund then exited a number of minor investmentswith elevated risk and unwanted exposure. Thisled to our first systematic divestmentprogramme. We decided to reduce the fund’sexposure to small companies in the farming andfishing sectors with plantations in Malaysia orIndonesia that derived 20 percent or more oftheir revenue from the production of palm oiland had no clear plan to achieve 100 percentsustainable palm oil certification within a year.Based on these criteria, we divested from 28companies between 2010 and 2014." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "We contacted several of the companies to obtaininformation on how they managed the risk ofdeforestation. We also enquired whether theyhad joined the Roundtable on Sustainable PalmOil, which provided an international certificationscheme for sustainable palm oil production. Thefund then exited a number of minor investmentswith elevated risk and unwanted exposure. Thisled to our first systematic divestmentprogramme. We decided to reduce the fund’sexposure to small companies in the farming andfishing sectors with plantations in Malaysia orIndonesia that derived 20 percent or more oftheir revenue from the production of palm oiland had no clear plan to achieve 100 percentsustainable palm oil certification within a year.Based on these criteria, we divested from 28companies between 2010 and 2014." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "We contacted several of the companies to obtaininformation on how they managed the risk ofdeforestation. We also enquired whether theyhad joined the Roundtable on Sustainable PalmOil, which provided an international certificationscheme for sustainable palm oil production. Thefund then exited a number of minor investmentswith elevated risk and unwanted exposure. Thisled to our first systematic divestmentprogramme. We decided to reduce the fund’sexposure to small companies in the farming andfishing sectors with plantations in Malaysia orIndonesia that derived 20 percent or more oftheir revenue from the production of palm oiland had no clear plan to achieve 100 percentsustainable palm oil certification within a year.Based on these criteria, we divested from 28companies between 2010 and 2014." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions." 
          • Policy applies to all stages of the supply chain
            Producers
            0.1/0.4
            Policy applies to all stages of the supply chain
            Producers
            0.1/0.4
            "We contacted several of the companies to obtaininformation on how they managed the risk ofdeforestation. We also enquired whether theyhad joined the Roundtable on Sustainable PalmOil, which provided an international certificationscheme for sustainable palm oil production. Thefund then exited a number of minor investmentswith elevated risk and unwanted exposure. Thisled to our first systematic divestmentprogramme. We decided to reduce the fund’sexposure to small companies in the farming andfishing sectors with plantations in Malaysia orIndonesia that derived 20 percent or more oftheir revenue from the production of palm oiland had no clear plan to achieve 100 percentsustainable palm oil certification within a year.Based on these criteria, we divested from 28companies between 2010 and 2014." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
        • Companies must be legally operated
          3.6/5.6
          • Commitment details
            Own operations - Require
            2/4
            Commitment details
            Own operations - Require
            2/4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
        • Companies must protect priority forests or globally important landscapes
          5.6/9.6
          • Commitment details
            Primary/Intact/Natural/HCV/HCS - Encouraged
            4/8
            Commitment details
            Primary/Intact/Natural/HCV/HCS - Encouraged
            4/8
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
        • Assurance mechanism to ensure compliance
          2.9/5.6
          • Commitment details
            Encourage
            2/4
            Commitment details
            Encourage
            2/4
            Verification method: Certification Scheme

            Certification scheme (if applicable): RSPO
            "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
          • Policy applies to all stages of the supply chain
            Producers
            0.1/0.4
            Policy applies to all stages of the supply chain
            Producers
            0.1/0.4
            "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
        • Companies must have a grievance mechanism
          3.6/5.6
          • Commitment details
            Yes - Encourage
            2/4
            Commitment details
            Yes - Encourage
            2/4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
        • Commitments must be timebound
          4.9/5.6
          • Commitment details
            Require
            4/4
            Commitment details
            Require
            4/4
            Type of policy: FI allows specific time from onboarding to become compliant
            "We decided to reduce the fund’sexposure to small companies in the farming andfishing sectors with plantations in Malaysia orIndonesia that derived 20 percent or more oftheir revenue from the production of palm oiland had no clear plan to achieve 100 percentsustainable palm oil certification within a year.Based on these criteria, we divested from 28companies between 2010 and 2014." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "We decided to reduce the fund’sexposure to small companies in the farming andfishing sectors with plantations in Malaysia orIndonesia that derived 20 percent or more oftheir revenue from the production of palm oiland had no clear plan to achieve 100 percentsustainable palm oil certification within a year.Based on these criteria, we divested from 28companies between 2010 and 2014." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "We decided to reduce the fund’sexposure to small companies in the farming andfishing sectors with plantations in Malaysia orIndonesia that derived 20 percent or more oftheir revenue from the production of palm oiland had no clear plan to achieve 100 percentsustainable palm oil certification within a year.Based on these criteria, we divested from 28companies between 2010 and 2014." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
          • Policy applies to all stages of the supply chain
            Producers
            0.1/0.4
            Policy applies to all stages of the supply chain
            Producers
            0.1/0.4
            "We decided to reduce the fund’sexposure to small companies in the farming andfishing sectors with plantations in Malaysia orIndonesia that derived 20 percent or more oftheir revenue from the production of palm oiland had no clear plan to achieve 100 percentsustainable palm oil certification within a year.Based on these criteria, we divested from 28companies between 2010 and 2014." "When considering companies for divestment, we focus on those that operate palm oil plantations in Malaysia and Indonesia, and have palm oil production as a significant part of their business. We also look at whether companies have been certified by the Roundtable on Sustainable Palm Oil, or plan to become certified. In 2018, we assessed companies previously divested, as well as companies currently in the portfolio that have direct exposure to palm oil production. This assessment in 2018 lead to two divestment decisions."
      • Social Considerations
        3/22
        • Company must ensure Free, Prior and Informed Consent
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must respect labour rights
          2.6/5.6
          • Commitment details
            Own operations - Encourage
            1/4
            Commitment details
            Own operations - Encourage
            1/4
            Type of policy: ILO
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
    • Soy
      31/64
      • Commitment Strength
        28/42
        • Commodity-specific financing policy
          9.6/9.6
          • Commitment details
            Yes
            8/8
            Commitment details
            Yes
            8/8
            Type of policy: Reduce deforestation
            "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
        • Companies must be legally operated
          3.6/5.6
          • Commitment details
            Own operations - Require
            2/4
            Commitment details
            Own operations - Require
            2/4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "The fund helps develop standards by engaging with regulators and standard setters. We expect companies to comply with applicable laws and regulations in the countries and markets they operate in. Our expectations and principles build on international standards, which place the responsibility for a company’s strategy and operations in the hands of its board and management."
        • Companies must protect priority forests or globally important landscapes
          5.6/9.6
          • Commitment details
            Primary/Intact/Natural/HCV/HCS - Encouraged
            4/8
            Commitment details
            Primary/Intact/Natural/HCV/HCS - Encouraged
            4/8
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
        • Assurance mechanism to ensure compliance
          3.6/5.6
          • Commitment details
            Encourage
            2/4
            Commitment details
            Encourage
            2/4
            Certification scheme (if applicable): RTRS

            Verification method: Certification Scheme
            "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "When assessing companies, we consider the geographical footprint of their operations, the percentage of the business linked to the production of soy and other agricultural commodities, documented land conversion activities and the percentage of their operations certified by the Round Table. Our analysis resulted in the divestment from one company in 2017."
        • Companies must have a grievance mechanism
          5.6/5.6
          • Commitment details
            Yes - Require
            4/4
            Commitment details
            Yes - Require
            4/4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
        • Commitments must be timebound
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
      • Social Considerations
        3/22
        • Company must ensure Free, Prior and Informed Consent
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
        • Company must respect labour rights
          2.6/5.6
          • Commitment details
            Own operations - Encourage
            1/4
            Commitment details
            Own operations - Encourage
            1/4
            Type of policy: ILO
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
    • Timber, Pulp & Paper
      30/64
      • Commitment Strength
        28/42
        • Commodity-specific financing policy
          9.2/9.6
          • Commitment details
            Yes
            8/8
            Commitment details
            Yes
            8/8
            Type of policy: Zero net deforestation
            [Translation] "Another assessment of risk related to deforestation dealt with paper production,with the focus on sustainable forestry practices and certification schemes. When considering companies for divestment we focused on those with activities in high-risk countries. We also considered the FSC certification status of the companies. FSC certification ensures that products come from responsibly managed forests that provide environmental, social and economic benefits.As a result of our assessment of this sector,we divested from another four companies in 2016".
          • Policy applies to all operations and financing
            No
            0/0.4
            Policy applies to all operations and financing
            No
            0/0.4
            [Translation] "When considering companies for divestment we focused on those with activities in high-risk countries. We also considered the FSC certification status of the companies. FSC certification ensures that products come from responsibly managed forests that provide environmental, social and economic benefits.As a result of our assessment of this sector,we divested from another four companies in 2016".
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            [Translation] "Another assessment of risk related to deforestation dealt with paper production,with the focus on sustainable forestry practices and certification schemes. When considering companies for divestment we focused on those with activities in high-risk countries. We also considered the FSC certification status of the companies. FSC certification ensures that products come from responsibly managed forests that provide environmental, social and economic benefits.As a result of our assessment of this sector,we divested from another four companies in 2016".
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            [Translation] "Another assessment of risk related to deforestation dealt with paper production,with the focus on sustainable forestry practices and certification schemes. When considering companies for divestment we focused on those with activities in high-risk countries. We also considered the FSC certification status of the companies. FSC certification ensures that products come from responsibly managed forests that provide environmental, social and economic benefits.As a result of our assessment of this sector,we divested from another four companies in 2016".
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            [Translation] "Another assessment of risk related to deforestation dealt with paper production,with the focus on sustainable forestry practices and certification schemes. When considering companies for divestment we focused on those with activities in high-risk countries. We also considered the FSC certification status of the companies. FSC certification ensures that products come from responsibly managed forests that provide environmental, social and economic benefits.As a result of our assessment of this sector,we divested from another four companies in 2016".
        • Companies must be legally operated
          2.2/5.6
          • Commitment details
            Own operations - Encourage
            1/4
            Commitment details
            Own operations - Encourage
            1/4
            (Translation)"Since work on operations linked to illegal logging and other particularly destructive logging practices began, the Council [on Ethics for the Norwegian Government Pension Fund Global] has made 10 recommendations to exclude, and one recommendation to place companies under observation. The Council will continue to pursue its ongoing dialogues with individual plantation companies in 2017."
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            (Translation)"Since work on operations linked to illegal logging and other particularly destructive logging practices began, the Council [on Ethics for the Norwegian Government Pension Fund Global] has made 10 recommendations to exclude, and one recommendation to place companies under observation. The Council will continue to pursue its ongoing dialogues with individual plantation companies in 2017."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            (Translation)"Since work on operations linked to illegal logging and other particularly destructive logging practices began, the Council [on Ethics for the Norwegian Government Pension Fund Global] has made 10 recommendations to exclude, and one recommendation to place companies under observation. The Council will continue to pursue its ongoing dialogues with individual plantation companies in 2017."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            (Translation)"Since work on operations linked to illegal logging and other particularly destructive logging practices began, the Council [on Ethics for the Norwegian Government Pension Fund Global] has made 10 recommendations to exclude, and one recommendation to place companies under observation. The Council will continue to pursue its ongoing dialogues with individual plantation companies in 2017."
        • Companies must protect priority forests or globally important landscapes
          7.6/9.6
          • Commitment details
            Primary/Intact/Natural/HCV/HCS - Required
            6/8
            Commitment details
            Primary/Intact/Natural/HCV/HCS - Required
            6/8
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." [Translation] "Another assessment of risk related to deforestation dealt with paper production,with the focus on sustainable forestry practices and certification schemes. When considering companies for divestment we focused on those with activities in high-risk countries. We also considered the FSC certification status of the companies. FSC certification ensures that products come from responsibly managed forests that provide environmental, social and economic benefits.As a result of our assessment of this sector,we divested from another four companies in 2016".
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." [Translation] "Another assessment of risk related to deforestation dealt with paper production,with the focus on sustainable forestry practices and certification schemes. When considering companies for divestment we focused on those with activities in high-risk countries. We also considered the FSC certification status of the companies. FSC certification ensures that products come from responsibly managed forests that provide environmental, social and economic benefits.As a result of our assessment of this sector,we divested from another four companies in 2016".
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." [Translation] "Another assessment of risk related to deforestation dealt with paper production,with the focus on sustainable forestry practices and certification schemes. When considering companies for divestment we focused on those with activities in high-risk countries. We also considered the FSC certification status of the companies. FSC certification ensures that products come from responsibly managed forests that provide environmental, social and economic benefits.As a result of our assessment of this sector,we divested from another four companies in 2016".
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes." [Translation] "Another assessment of risk related to deforestation dealt with paper production,with the focus on sustainable forestry practices and certification schemes. When considering companies for divestment we focused on those with activities in high-risk countries. We also considered the FSC certification status of the companies. FSC certification ensures that products come from responsibly managed forests that provide environmental, social and economic benefits.As a result of our assessment of this sector,we divested from another four companies in 2016".
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Companies should identify and consider relevant risk adaptation and mitigation measures; for example, programmes to improve energy and resource efficiency, increased use of less carbon-intensive raw materials and processes and protection of high-carbon-stock landscapes."
        • Assurance mechanism to ensure compliance
          3.2/5.6
          • Commitment details
            Encourage
            2/4
            Commitment details
            Encourage
            2/4
            Verification method: Certification Scheme

            Certification scheme (if applicable): FSC
            [Translation] "Another assessment of risk related to deforestation dealt with paper production,with the focus on sustainable forestry practices and certification schemes. When considering companies for divestment we focused on those with activities in high-risk countries. We also considered the FSC certification status of the companies. FSC certification ensures that products come from responsibly managed forests that provide environmental, social and economic benefits.As a result of our assessment of this sector,we divested from another four companies in 2016".
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            [Translation] "Another assessment of risk related to deforestation dealt with paper production,with the focus on sustainable forestry practices and certification schemes. When considering companies for divestment we focused on those with activities in high-risk countries. We also considered the FSC certification status of the companies. FSC certification ensures that products come from responsibly managed forests that provide environmental, social and economic benefits.As a result of our assessment of this sector,we divested from another four companies in 2016".
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            [Translation] "Another assessment of risk related to deforestation dealt with paper production,with the focus on sustainable forestry practices and certification schemes. When considering companies for divestment we focused on those with activities in high-risk countries. We also considered the FSC certification status of the companies. FSC certification ensures that products come from responsibly managed forests that provide environmental, social and economic benefits.As a result of our assessment of this sector,we divested from another four companies in 2016".
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            [Translation] "Another assessment of risk related to deforestation dealt with paper production,with the focus on sustainable forestry practices and certification schemes. When considering companies for divestment we focused on those with activities in high-risk countries. We also considered the FSC certification status of the companies. FSC certification ensures that products come from responsibly managed forests that provide environmental, social and economic benefits.As a result of our assessment of this sector,we divested from another four companies in 2016".
        • Companies must have a grievance mechanism
          5.6/5.6
          • Commitment details
            Yes - Require
            4/4
            Commitment details
            Yes - Require
            4/4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Companies should establish or participate in effective and accessible operational-level grievance mechanisms for individuals and communities that may be adversely impacted by their operations."
        • Commitments must be timebound
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
      • Social Considerations
        3/22
        • Company must ensure Free, Prior and Informed Consent
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
        • Company must respect labour rights
          2.6/5.6
          • Commitment details
            Own operations - Encourage
            1/4
            Commitment details
            Own operations - Encourage
            1/4
            Type of policy: ILO
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Norges Bank Investment Management state that "the responsibility to respect human rights applies to all companies. It is the duty of companies themselves to decide how and to what extent the UN Guiding Principles on Business and Human Rights and other relevant principles and guidelines apply to their operations. In practice, certain human rights will likely be more at risk of being impacted than others, depending on sector, geographical area and other circumstances."
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            0/0.4
          • Policy applies to all deals
            0/0.4
          • Policy applies to all companies
            0/0.4
          • Policy applies to all stages of the supply chain
            0/0.4
  • Reporting & Implementation
    10/20
    • Policy is reviewed and updated
      0/5
    • Companies must disclose subsidiaries in commodity supply chains
      0/5
    • Monitoring and non-compliance process
      5/5
      Monitoring compliance
      Yes - Screening and monitoring process
      5/5
      "The Council on Ethics shall continuously monitor the Fund’s portfolio, cf. section 1(2), with the aim of identifying companies that contribute to or are responsible for production or conduct as mentioned in sections 2 and 3".
    • Reporting on implementation of the policy
      5/5
      Reporting
      Yes - Annually
      5/5
      Numbers: 0
      "In 2019, we considered all previous divestment decisions related to palm oil production as well as current investments in companies associated with palm oil production. No new divestment decisions were made taken based on this analysis in 2019." "In 2018, we made an assessment of companies we have previously divested from, as well as companies in the current portfolio with direct exposure to palm oil production. The analysis resulted in two more divestment decisions in 2018."
  • Commitment strength
    26/42
    Avg. score
  • Social considerations
    3/22
    Avg. score

Profile

The Norwegian Government Pension Fund are a Norwegian state-owned investment fund. They invest in international equity, fixed-income markets and real estate to provide security for Norway's economy against fluctuating oil prices. As of 2017, their total assets amount to more than 8 trillion NOK, with more than 4.8 trillion NOK in equities. The Norwegian Government Pension Fund are among the top 10 shareholders for Forest 500 companies, with approximately 40 billion USD worth of shares across a broad range of forest risk sectors.

HQ
HQ 
Norway
Financial institution type
Financial institution type 
Pension Fund

How we assess the Forest 500

Investors and lenders need to adopt and implement strong deforestation policies that ensure their investments are not funding the destruction of forests.

All assessments use policies published on financial institution websites, some links may have changed or been removed since the time of assessment.

Disclaimer

This assessment has been carried out following the methodology developed for the Forest 500 project, available here. Please see our disclaimer applicable to all information contained within this site and our terms and conditions for use of data presented on this site.

All assessments use policies published on company and financial institution websites, and while we endeavor to keep them updated some links may have changed or been removed since the time of assessment.

Please contact us with any concerns or feedback about this or other assessments included in the Forest 500.