Page 22 - SKR-annual-report-2022-EN

22 THE CULTURAL FOUNDATION’S YEAR

Sustainability at the Finnish
Cultural Foundation

Sustainable investment

EARLY 2000s • The Foundation manages its assets responsibly 2022
Exclusion and for the long term. Its investment activities Annual
practices are well planned and monitored. comprehensive
ESG assessment of
(e.g. tobacco)​ • The Foundation takes into account portfolio
environmental, social and corporate governance
2011 (ESG) criteria in choosing and monitoring its 2020
Annual investments in all asset classes. ESG/Sustainable
sustainability investment policy​
assessment of • The Foundation applies diverse sustainable
domestic equity investment approaches, including exclusion,
investments ESG integration, active ownership and impact
investing.

• The sustainability of the portfolio is assessed
monthly, based on ESG data from MSCI. This
data covers over 60% of the portfolio. It does
not cover alternative investments or direct real
estate investments.

• Sustainability reports are also obtained on
alternative investments (private equity and
private debt investments, as well as forest
investments).

• According to sustainability analyses conducted
on invested assets in 2022, the Foundation’s
equity portfolio is in line with the Paris Climate
Agreement.

• The carbon intensity of the foundation’s current
equity portfolio has been going down by
approximately 15% per year since 2019, while
the portfolio’s carbon footprint is 5% lower than
that of the specified benchmark.

2011 2018 2019​
Ownership policy Monthly
Partners ESG reporting
committed to

UNPRI or
equivalent