CSR in-sourcing and investments
In 2011, Tryg introduced a new programme for CSR in sourcing for suppliers. Together with our suppliers, we now engage in reducing CO2 emissions and prevent human rights violations.
In our procurement provision and in contracts and co-operative agreements a proviso is included on Tryg’s social responsibility performance. The suppliers are expected to comply with international standards on social responsibility and may be required to report yearly on how they contribute to preservation of the environment and climate, how many complaint cases on discrimination they have and on their efforts on ensuring equal treatment.
Furthermore, they have to communicate on how theiy make sure their subcontractors do not contribute to infringements on human rights, as well as their initiatives on prevention of corruption.
The obligation to report is rolled out on the automobile area and in relation to suppliers offering consultancy within IT and marketing. The reporting is made by each individual supplier in a database with four indicators within the respective areas included in the Global Compact.
The indicators are based on the Global Reporting Initiative (GRI).
CSR in investments
Tryg uses external portfolio managers and observes rules not to invest in controversial activities. Together with our external managers, we constantly seek to comply with international regulations. In 2015, we have screened for new UN and EU regulation on certain financial sanctions against countries and individuals.
This is done in order to avoid investments in companies who are complicit in child labor, other violations of human rights, serious damage on environment, corruption, production of cluster bombs, etc.
If an investment is made in a company that breaches international conventions, a dialogue is initiated with the company with the purpose of changing their practice; otherwise the investment will be sold.
In addition, Tryg has engaged in the establishment of the DI Frontier Market Energy and Carbon Fund in collaboration with a group of Danish and interantional investors. The Fund will set up, operate and sell plants for production of renewable energy, including solar, water, wind and biomass in Sub Saharan African countries.
The building up of an infrastructure for distribution of energy in these countries is expected to have an impact on their growth and development, and on the overall global transition to CO2 reducing energy production.