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Company Response

22 Jul 2019


Storebrand response

...Sustainability has for many years been an integral part of our asset management services.  We recognize the vital role forests play in climate change mitigation, biodiversity protection and in supporting livelihoods. Our work on deforestation started already in 2013 when we divested our shares in eleven of the twelve palm oil companies in which we were invested. Since then, we have expanded our work on deforestation to also focus on other forest-risk commodities such as soy, timber and cattle products and are active participants of the PRI working groups on palm oil, cattle/soy and ASEAN banks. We expect companies to commit to eliminate deforestation from their supply chain to help end global deforestation and that  company’s production, sourcing, and financial investments do not cause or contribute to the loss of natural forests. Companies should commit to eliminating the conversion of other natural ecosystems from their supply chains and that its activities do not cause or contribute to the loss of natural ecosystems. We furthermore expect companies to commit to respect human rights, including the rights of indigenous peoples and local communities. Internationally recognized rights of workers should be respected in all production and trade activities in their operations and supply chains and to conduct business consistent with the Universal Declaration on Human Rights and ILO Core Conventions...