Arbejdsmarkedets Tillaegspension (ATP)

In terms of its approach towards impact management, Arbejdsmarkedets Tillægspension acknowledges that its financing activities have both positive and negative impacts. Regarding gender equality, the pension fund has gender-balanced representation among its senior leadership roles where 48% of those in senior management positions are women. It also discloses that it has no pay gap between men and women. Arbejdsmarkedets Tillægspension has an engagement policy where it describes its approach on sustainability themes and impact topics with investees, as well as includes a clear framework with success criteria and escalation points in the event that engagement with investees is unsuccessful. Furthermore, it publishes case studies describing where it has engaged successfully with investees on sustainability themes and impact topics.

Arbejdsmarkedets Tillægspension discloses absolute financed emissions, in addition to the underlying data quality and coverage of its financed emissions. It has also set a target to decarbonise its investments by 2050. Arbejdsmarkedets Tillægspension discloses that it aims to finance DKK 200 billion in climate solutions by 2030 as well as progress against this target. It also discloses the amount of finance directed towards all fossil fuels through all its financing activities. Furthermore, the pension fund is committed to minimising its negative impacts on nature and biodiversity and discloses nature- and biodiversity-related impacts as one of its engagement priorities with companies to which it provides financial services.

Arbejdsmarkedets Tillægspension discloses the proportion of women in its total direct operations workforce for each employee category. It also has a grievance mechanism accessible to all workers, external individuals and communities to raise human rights complaints or concerns.

In terms of its approach to senior leadership accountability, there is no evidence that Arbejdsmarkedets Tillægspension assigns responsibility for sustainability to the group’s supervisory board. While it states that performance related pay may be applicable in certain roles based on targets, it does not specify these targets. No evidence was found that the pension fund is committed to gender equality and women’s empowerment. It has an opportunity to disclose the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps. Furthermore, Arbejdsmarkedets Tillægspension could publish case studies describing where it has engaged unsuccessfully with clients/investees on sustainability themes and impact topics.

Arbejdsmarkedets Tillægspension discloses interim reduction targets for its equity and corporate bonds portfolios and its real estate portfolio; however, it is unclear if these targets cover all of the group’s business activities. The pension fund has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. While Arbejdsmarkedets Tillægspension discloses that it is shifting investments away from fossil fuels, it does not disclose that it will not provide any form of finance to new fossil fuel projects. Furthermore, there is no evidence that it discloses a strategy to phase out the provision of financial services to existing projects and companies across the fossil fuel value chain.

There is no evidence that Arbejdsmarkedets Tillægspension has a publicly available policy statement committing it to respect human rights laid out in the UNGPs and the ILO declaration on fundamental rights at work. The pension fund has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its financing activities. It also could disclose a policy on bribery and corruption and its processes for identifying and addressing bribery and corruption. To provide transparency on financial inclusivity, the financial institution has an opportunity to disclose the amount of investment directed towards, for example low-income developing countries.