High Ethical Standards
The Norwegian Church Endowment fund has high ethical standards for its investments. The fund seeks to align and balance clear financial goals with the values of the Norwegian church. In 2003, the endowment fund adopted ethical guidelines outlining environmental, social and governance (ESG) criteria for the investments.
Implementation of Ethical guidelines
In 2011, the endowment fund turned to DNV GL to operationalize the guidelines and a long term, ongoing partnership was initiated. The responsible investment approach needed to take into account both high ethical standards and clear bottom line requirements. DNV GL developed an approach to implement the guidelines across six asset classes, taking into consideration the special features and environmental, social and governance risks related to each one. The method included assessing ESG risk and the performance of asset managers as well as underlying investments.
Securing Long-Term value
Through a combination of ethical criteria screening and active ownership, the Norwegian Church Endowment fund has reduced the ESG risks in its portfolio and is securing value over the long-term.