Over the past 12 to 18 months, we have seen a seismic shift, not just in financial products but also for capital flows. Purpose now sits firmly alongside profit in the corporate hierarchy, and sometimes above it. This is good. And the fact that much of the impetus for this comes from the coming generation Z is better still. Scandinavian leadership in this area is something to be proud of.
Putting purpose alongside profit
The purpose of SKAGEN is to help clients to meet their investment objectives and thereby achieve financial security, and to do this in a sustainable and responsible way. Sustainability is not a new fad; it is a necessary way of acting and investing to secure the best long-term financial outcomes. Fund managers are legally required to exercise corporate and fiduciary responsibility. What is now changing is the extent to which this responsibility is governed, and the means available to support it. New regulation will accelerate the move towards more sustainable finance. The UN Sustainable Development Goals (SDGs) are the blueprint to achieve this; however, it is plain common sense that the finance industry should be able to meet the demands of the next generation of savers and pensioners.
For SKAGEN, it is largely through our investment activity that we can make tangible impact towards the SDGs. We are committed to actively engaging with companies to ensure they act responsibly towards shareholders, employees, and the environment. We are also committed towards sustainable business activities ourselves. These are especially valued by our employees and reflect the principles that govern the way we think and act.
Society expects more from its finance industry. This renewed version of 21st century stakeholder capitalism is best placed to create value for the economy, for society, and for the environment. It is a future we can all believe in and we in SKAGEN are glad to commit to it.
We hope you will enjoy reading our Sustainability Report for 2019 and will join us on our common journey towards a more sustainable future.