Have you ever managed to pack a snowball and push it down a sufficiently steep hill for it to gather pace and grow bigger and bigger? Observing the way that it consumes snowflakes and smaller snowballs along the way, becoming unstoppable.
This analogy could be used to describe the momentum we are now witnessing with people's fast-growing understanding of the seriousness of climate change, the lack of equal opportunities for all and the fundamental need to incorporate these aspects into companies' value proposition.
SKAGEN is one of many 'snowflakes' joining the race to improve sustainable business practices across our portfolio holdings. Our goal is modest from a global perspective – our funds own only a fraction of the companies around the world. But rest assured, we commit to raising our voice on key issues that we believe can move the needle in a material way.
Along with the United Nations, consumer advocacy groups, investor alliances, climate action initiatives, global sustainable reporting standards, technology developments and regulations, SKAGEN is determined to play our part. We focus on engaging on material business opportunities and business practices.
Our quarterly ESG report highlights some of our recent engagements, ranging across the spectrum of environment, social and governance issues. We continue to develop our engagements, picking the fights that will lead to material improvements and we will continue to report the wins and challenges back to you.