Alecta

The responsibility for sustainability issues within Alecta lies with the Board of Directors. In terms of female representation in leadership positions, the pension fund has a gender-balanced board of directors where 6 out of 13 members are women. It also has gender-balanced representation among its senior leadership roles where 44% are women. Regarding engagement, Alecta has an engagement policy where it describes its approach on sustainability themes and impact topics with investees. The policy includes a clear framework with success criteria and escalation points in the event that engagement with investees is unsuccessful. Furthermore, Alecta publishes case studies describing where it has engaged successfully with investees on sustainability themes and impact topics.

As a member of Glasgow Financial Alliance for Net Zero (GFANZ), Alecta has set a target of net-zero financed emissions by 2050. The pension fund discloses that alignment with the Paris Agreement is one of its engagement topics. As a member of Climate Action 100+, Alecta discloses that it collectively engages with its investees on the topic of climate change. It also requires its investees to have a strategy aligned with the Paris Agreement. The financial institution discloses the aggregate amount and share of finance it devotes to climate solutions while specifying what these solutions are. Moreover, the financial institution discloses absolute financed emissions, the underlying data quality and coverage of its financed emissions.

Alecta discloses the proportion of women in its total direct operations workforce for each employee category, as well as the proportion of its total direct operations workforce covered by collective bargaining agreements. The pension fund discloses the amount of finance it directs towards low-income, developing countries. It also has a policy prohibiting bribery and corruption.

There is no evidence that Alecta links the remuneration of its executive or management teams to sustainability performance criteria. In terms of gender equality, no evidence was found that it discloses the ratio of basic salary and remuneration of women to men in its total direct operations workforce for each employee category, or that it discloses the actions taken to address any pay gaps. Regarding engagement, Alecta has an opportunity to publish case studies describing where it has engaged unsuccessfully with investees on sustainability themes and impact topics.

While Alecta discloses interim emissions reduction targets, this only includes intensity targets and not absolute targets. Furthermore, the pension fund could disclose key sectors or companies identified as priorities to engage with on climate issues, specifically alignment with the Paris Agreement. No evidence was found regarding the financial institution’s approach to fossil fuels that spans across the fossil fuel value chain, such as the amount or share of finance it directs towards fuels, or its stance on financing companies with new fossil fuel projects. Regarding nature and biodiversity, no evidence was found that the financial institution is committed to minimising its negative impacts or financing regenerative solutions.

While Alecta is a signatory to UN Global Compact (UNGC) and supports its ten principles on environment, human rights, labour rights and anti-corruption, there is no evidence that the company has a publicly available policy statement committing it to respect human rights. Furthermore, the financial institution has an opportunity to describe the process for identifying its human rights risks and impacts through its relevant financing activities. The financial institution could also establish a grievance mechanism accessible to all workers, external individuals and communities to raise human rights complaints or concerns. Alecta could disclose the proportion of its total direct operations workforces for each employee category by age group.