Last year, Keva reached almost all the goals in its Responsibility Programme. Responsibility work emphasised engagement both at home and globally.
Keva updated its Ownership steering principles in 2019 and started to vote in the annual general meetings of those investees in which it has a direct holding. During the year, Keva attended, either itself or through external asset managers, almost 8,000 annual general meetings of investees in Keva’s equity portfolio. A total of around 110,000 proposals were voted on at these meetings.
In addition to attendance at annual general meetings, external asset managers of Keva’s investments have more than 1,500 engagement processes ongoing and involving around 1,200 companies. A typical engagement process involves the asset manager being in direct contact with the company for 1-3 years. Last year, the most common theme concerned governance, but environment and social themes are clearly gaining traction.
We updated the environmental strategy of our internal investment properties. We commit to halving emissions by 2025 and to be carbon neutral by 2030. We are progressing to schedule towards this goal: last year the comparable carbon dioxide emissions attributable to energy use in investment properties were 18% lower than in the reference year 2018.
”Our responsibility approach and programme are based on the fact that all Keva’s responsibility work and actions are planned and implemented as part of normal planning and our way of doing things. We don’t disengage from other work just to campaign or advertise,” says Reija Hyvärinen, Communications Director.
”A reputation survey conducted last year by Pohjoisranta BWC showed that our stakeholders think in the same way and expect us, as a pension insurer, to have long-term and sustainable responsibility. The survey also showed a rally pleasing strengthening in our stakeholders’ image of our responsibility,” Hyvärinen adds.
Keva’s key social influence issues and ways of engagement have also been published in Keva’s Responsibility KPIs 2020. Keva raised its views and thoughts related to i.a. the development of domestic ownership, the funding of major infrastructure projects, changes in disclosure law, the employment of persons with partial work ability and matters related to the rehabilitation system. During 2020, Keva approached social decision-makers in 17 key issues.
Keva, the public sector earnings-related pension provider, has published its responsibility report, Keva’s Responsibility KPIs 2020. The report has been compiled from all four key responsibility areas: customer work, investments, personnel and way of working.
Keva's Responsibility KPIs 2020 (pdf)