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UN Global Compact

SKAGEN Funds has become a signatory of the world's largest corporate sustainability initiative, the UN Global Compact.

The UN Global Compact is a network of companies, organisations, and academia. The initiative aims to make companies aware of, and takes active responsibility for, ten principles in the areas of human rights, labour law, the environment, and the fight against corruption. Photo: Pixabay

By joining, SKAGEN commits to adapting its operations and strategy to the UN's global framework for sustainable companies. The framework is based on ten principles relating to the environment, human rights, labour law issues and anti-corruption.

Human rights

1. Support and respect international human rights within the company's influence

2. Ensure that one's own organisation is not involved in human rights violations

Labour law

3. Maintain freedom of association and recognise the right to collective bargaining

4. Eliminate all forms of forced labour

5. Abolish child labour

6. Eliminate discrimination in recruitment and work tasks

Environment

7. Support the precautionary principle with regard to environmental risk

8. Strengthen environmental awareness

9. Encourage the development of environmentally friendly technology.

Anti-corruption

10. Counter all forms of corruption, including extortion and bribery

Read also: Report about SKAGENs Global Compact work

It was during the World Economic Forum in 1999 that the then UN Secretary-General Kofi Annan initiated the Global Compact to get the business community involved in UN issues and take global responsibility. The following year, the proposal was officially launched. Today, the UN Global Compact is the world's largest business sustainability initiative, with over 13,000 member companies and organisations from over 170 countries.

As a signatory, SKAGEN commits to actively working with sustainability issues and reporting the work annually to the UN. Membership also includes a responsibility to promote the UN's 17 goals for sustainable development, known as the Global Goals.

Read more about the UN Global Compact.

Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager’s skills, the fund’s risk profile and management fees. The return may become negative as a result of negative price developments. There is risk associated with investing in funds due to market movements, currency developments, interest rate levels, economic, sector and company-specific conditions. The funds are denominated in NOK. Returns may increase or decrease as a result of currency fluctuations. Prior to making a subscription, we encourage you to read the fund's prospectus and key investor information document which contain further details about the fund's characteristics and costs. The information can be found on www.skagenfunds.com. Storebrand Asset Management administers the SKAGEN funds which are by agreement managed by SKAGEN's portfolio managers.

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