Annual Report 2022KLP Group, Sustainability, KLP

Storm Gyda ravaged homes, power plants and cultural centres. Before the storm broke, KLP Skadeforsikring sent out 10,000 text messages with tips to customers on how to prepare for the extreme weather.

KLP excludes Russian companies following Russia’s invasion of Ukraine. KLP has been underinvested in Russia since 2014, when Russia annexed Crimea.

KLP’s local government conference is broadcast from Trondheim. This year’s theme is: What sort of future do you want?

All four regional health authorities in Norway choose KLP Skadeforsikring to provide occupational injury and accident insurance, and two of them also take out group life insurance.

KLP’s owners elect a new general meeting for the period 2022-2024. The general meeting is KLP’s highest authority and consists of 179 representatives elected by and among municipalities and county councils, health enterprises and municipal undertakings with public-sector occupational pension schemes run by KLP.

KLP joins the Partnership for Carbon Accounting Financials (PCAF), which is a global collaboration working to harmonise the measurement and reporting of greenhouse gas emissions in investment and lending portfolios.

KLP makes several multi-billion investments, with NOK 1.6 billion going into onshore wind power in Norway and Sweden, and later in the UK. In the same month, KLP acquires the CBRE Pan-European Core Fund for just over one billion kroner. This is a real estate fund which invests in office buildings, retail properties, hotels, logistics buildings and rental properties in eleven European countries, mainly in northern and western Europe.

KLP launches the employment report, which shows, among other things, that up to 40 per cent of sickness absence in the public sector may be due to emotional strain from people working with people.

KLP and the KLP funds exclude American refugee reception companies for violations of human rights and workers’ rights.

KLP Banken wins a climate competition organised by Ducky and the Future in Our Hands fund.

KLP Banken launches the new ‘Plasseringskonto’ savings product, with the bank’s top savings rate. This offering is the bank’s response to customers’ demands for higher savings rates.

Together with Norfund, KLP enters into an agreement to invest in power lines in India. The investment will help to ensure that half of the country’s energy consumption is renewable by 2030. In partnership with the Indian company ReNew Power, KLP and Norfund are investing NOK 109 million in a 49 per cent stake in a power project in the Koppal district in southern India.