For OP Asset Management, there were several significant changes in 2023 that affected the sustainability and responsibility of OP's funds.
"Our sustainability-themed set of funds was expanded with the new OP-Sustainable Wellbeing mutual fund focusing on social responsibility, and our index funds are now based on the MSCI ESG Screened indexes. With these changes, our funds are better aligned with our general exclusion policy and climate goals. Furthermore, a large number of our funds are now covered by SFDR Article 8 reporting," says Kristiina Ruuska, OP's Head of ESG.
Furthermore, active ownership has long been integral to OP Asset Management's responsible investment strategy. As an investor committed to responsibility, active ownership allows OP Asset Management to encourage companies to recognise the sustainability and responsibility impacts of their operations. In 2023, OP Asset Management published its updated climate engagement strategy and further expanded its shareholder engagement based on international norms by starting cooperation with a leading service provider in the sector.
Compliance with international norms and standards has long been a key part of OP Asset Management's responsible investing operations. In 2023, OP Financial Group's work for human rights was further strengthened with the publication of OP Financial Group's Human Rights Statement and Policy.
"In the near future, we'll be paying even more attention on problematic sectors. We'll deepen our analysis and increase cooperation with the companies we invest in, particularly to increase awareness and prevent negative impacts," says Ruuska.
Read more in OP’s Responsible Investing Report 2023 (in Finnish)
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