As a responsible investor, Örebro Municipality should enable good long-term returns by investing assets in sustainable companies, as well as identifying and encouraging managers and companies that work to meet the UN Sustainable Development Goals.
Furthermore, the municipality's climate strategy determines that the climate load, in overall asset management, should be lower than comparable indices and gradually reduced, with the ambition to be climate neutral in 2030. The municipality does not invest in companies engaged in exploration, exploitation, extraction or production of coal, oil, gas, oil sands and other unconventional fossil oils.
Furthermore, investments should not be made in companies whose revenue is mainly derived from tobacco production, alcohol, drugs, commercial games, military equipment and pornography. On a long term perspective, the municipality will endeavor not to place any funds in companies whose activities include any production and distribution of tobacco, alcohol, drugs, commercial games, military equipment and pornography. We also include UN Global Compact and UN Principles for Responsible Investments inour policy.
Asset managers shall comply with the UN Principles for Responsible Investments (PRI), and we encourage funds to report their climate impact. When selecting a location, and as part of the evaluation, consideration is given to how the asset managers actively works to invest in companies whose strategy and governance promote the UN Sustainable Development Goals, as well as the UN Global Compact.
The municipality strains to clearly communicating its policy, its investment decisions and the results of the dialogue with companies and managers in order to contribute to increased transparency and development in sustainable and responsible investments.
In evaluating comparable funds, together with factors such as financial risk and return, account should be taken of the fund's climate impact and the asset managers strategies to achieve a reduced climate impact over time.