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Ministry of Finance Sweden Government Offices of Sweden State-Owned Enterprises as Vehicles for Corporate Responsibility and Sustainability United Nations Global Compact Leaders Summit 2013: Architects of a Better World Erik Thedéen Ministry of Finance 19 September 2013

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Ministry of Finance Sweden

Government Offices of Sweden

State-Owned Enterprises asVehicles for Corporate Responsibility and

SustainabilityUnited Nations Global Compact Leaders Summit 2013: Architects of a Better World

Erik Thedéen

Ministry of Finance19 September 2013

Ministry of Finance Sweden

Government Offices of Sweden

The Government is one of Sweden’s Largest Business Owners

• 53 companies– 42 fully-owned– 11 partly-owned– Three publicly listed

• Estimated value SEK 570 bn (almost 70 bn euro)

• One of Sweden’s largest employers

Ministry of Finance Sweden

Government Offices of Sweden

http://www.apoteket.se/privatpersoner/

http://www.mynewsdesk.com/se/pressroom/apoteksgruppen

http://www.abanan.se/default.asp

http://www.svanen.se/

http://www.google.se/url?sa=i&source=images&cd=&cad=rja&docid=W9DnTGzvibhYyM&tbnid=lC7vZ6-JIH31vM:&ved=0CAgQjRwwAA&url=http://www.hyresgastforeningen.se/Formaner/Sidor/default.aspx?kat=Kultur+och+n%C3%B6jen&ei=Gg0rUfDRAeSK4ASam4CoAQ&psig=AFQjCNHZmpf71U65dN71lvcxeKXY30wZMg&ust=1361862298052247

http://www.systembolaget.se/

http://www.saab.com/

Ministry of Finance Sweden

Government Offices of Sweden

”The Government’s overall objective is for the companies to generate value and, where applicable, ensure that specially commissioned public service assignments are carried out.”

Overall Objective

Government owner policy

Ministry of Finance Sweden

Government Offices of Sweden

http://www.nordea.com/sitemod/default/portal.aspx?pid=49092

Ministry of Finance Sweden

Government Offices of Sweden

2007: Sustainability Reporting

• New guidelines requiring state-owned companies to provide sustainability reports in accordance with GRI

• Sustainability reports to be published in connection with the regular annual reports and to be audited by a third party

Ministry of Finance Sweden

Government Offices of Sweden

Next step: Integrate sustainability in corporate governance• Owner Policy• Dialogue between the owner and the

company• Nominations to company boards• Clear goals that are monitored

http://www.google.se/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=Qi7oiTWY_i5gEM&tbnid=PH-wBz7ZgUYy5M:&ved=0CAUQjRw&url=http://www.h-lindmark.se/2011/08/23/snusk-i-brevladan/verktyg/&ei=hqe1UdOLO6Om4gTaloHwCA&bvm=bv.47534661,d.bGE&psig=AFQjCNFJOmcjR6AvFKUQ7_dPzrLc_I2eGg&ust=1370945785053139

Ministry of Finance Sweden

Government Offices of Sweden

The Board of Directors & Sustainability Targets

• LKAB– The proportion of women in the company will be at least 25% by 2020 – Ensure new ore reserve for at least 20 years to 2020– Carbon dioxide emission per ton of finished products will be reduced from

27 kg in 2011 to 17 kg by 2020– New generation of climate-smart pellets produced by 2017

• SEK– Percentage of our clients that believe SEK sets sustainability requirements for lending

• Target: > 80% by 2015

– Percentage of clients and suppliers that have undertaken to comply with SEK’s anti-corruption guidelines• Target: 100% by 2015

– Gender distribution in management positions • Target: 40/60% by 2015

– Employees with a foreign background• Target: >25% by 2015