Nordic pensions ESG network adds Novartis to case list

Four Nordic pension funds with a collective EUR 226 billion asset base have linked up to tackle companies jointly on ESG issues. Having just resolved one case, the collaboration has now added three more to its list of companies in focus. 

NEC added Swiss drug manufacturer Novartis to its focus list in 2017 because of several cases of bribery. | Photo: AP Photo/Petros Giannakouris

A group of Nordic pension funds including Folksam and PFA who have joined forces on ESG engagement has added three more companies to its focus list — for violation of one of the ten Global Compact Principles.

According to its recently published 2017 annual report, Nordic Engagement Cooperation (NEC) has recently included American retailer L-Brands, Swiss drug maker Novartis and Canadian energy company Enbridge to its engagement list.

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