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@Folksam
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Söderberg & Partners
56 w
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Folksam is a Swedish insurance company that provides unit-linked insurance to its customers. In our latest analysis, they rise up as one of the best thanks to their work with selecting funds with a high level of sustainability and helping their customers make better investment decisions. Folksam is one of the top insurance companies in our 2023 report “Sustainable unit-linked insurances”. Every year, Söderberg & Partners evaluate Sweden’s 13 biggest providers of unit-linked insurance — insurance that allows long-time investment of your occupational pension, with a range of different funds to choose from — to determine how well they integrate sustainability into their offerings. The companies are given a green, yellow, red, or grey score, where green is the best and red is the worst. A grey score means that the company’s model differs too much from the other companies in the analysis, meaning that it can’t be evaluated in all four criteria and therefore get a grey total score. This year, we had 4 companies reach a green score when considering all criteria (up from 3 in 2022). Our analysis to determine the top companies offering unit-linked insurance looks at four areas: Sustainability in the selection of funds, engagement work, communication and transparency, and supply of funds. Folksam decides on which funds to include in their supply based on internal and external sustainability analyses. They aim to include funds that either promote environmental or social characteristics, or have sustainable investment as their objective. As a result, a lot of their selected funds get a green score in our sustainability analysis, and they communicate it well to their customers by providing them with filter tools and with plentiful sustainability information about each of the funds on their platform. In terms of engagement work, Folksam regularly contacts funds that are flagged in their regular screenings to ask how they are working with it. If they notice a lack of will to change, the fund will be removed from their supply to make sure that they work with funds that want to be a part of the transition. Read the full report (in Swedish): https://online.flippingbook.com/view/418617392/
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As the battery producer @Northvolt takes in 1.1 billion Euros in new finance round, Folksam will invest 85 million Euros. Folksam sees this investment as important in enabling a sustainable car industry through electrification, and it is also considered a very good investment. Already in 2019, Folksam made a 20 million Euro investment in Northvolt. https://www.di.se/digital/northvolt-tar-in-11-miljarder-kronor/
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94 w
Great news!
Haga Initiative
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Folksam’s total expenses for building repairs amounted to over SEK 1 billion in 2019, while expenses for car repairs were SEK 2.3 billion. This gives them financial strength and opportunities to place stringent demands on their suppliers. Folksam's suppliers buy and recycle used spare parts for cars. There is an established second-hand market for car parts and Folksam requires that car mechanics repair and use reused parts wherever possible and appropriate. This way of working helped them avoid a mountain of waste of around 2,000 tonnes and saved approximately SEK 290 (270) million in repair costs of damaged cars. In total, reuse in connection with car repairs has brought a saving of just over SEK 2.3 billion since the beginning of the millennium. If you want to read other good examples of circular economy, go to https://www.hagainitiativet.se/en/100-examples-for-circular-economy Have a great day! ************************************************* **** This is part of the Haga Initiative's campaign 100 Good Examples of Circular Economy. We want sustainable examples of circular economy from large and small companies. Email your suggestions and a picture to info@hagainitiativet.se
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88 w
By using spare parts not only can you save on the cost of buying new ones, but also reduce the amount of waste that is created. When something breaks down in a car, it is likely that the owner will do something about it. However when there is no spare part available for the broken part, they may be forced to buy a new one. By using used spare parts instead of new ones, you are reducing waste and also saving money. https://quordle.onl/
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112 w
Well done Folksam! A wonderful example of how to work with circularity.
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56 w
Folksam is going in the right direction!