DNB ASA is a Norway-based financial institution that offers a range of financial services, including loans, savings, advisory services, insurance and pension products for retail and corporate customers. The company operates in Europe, the Americas and Asia.
In an effort to reduce the Environmental, Social, and Governmental (ESG) risks across its commercial lending business, DNB has committed itself to the following voluntary standards: CDP, Extractive Industries Transparency Initiative, UN Principles for Responsible Investment (UN PRI), UNEP Finance Initiative and the UN Global Compact. DNB is also a signatory to the Equator Principles III. In addition to supporting initiatives which promote credit risk analysis and transparent reporting, DNB is increasing its socially responsible product offerings. For more than 20 years, the company has offered its equity fund, DNB Renewable Energy, which invests in companies employing new technology to produce and use cleaner energy sources, increase energy efficiency and promote the renewable energy sector. More recently, DNB issued its first green bond. Beyond the company’s efforts to minimize the impact of its lending operations and develop responsible products, DNB works to ensure equality and diversity in the workplace. Over 50% of its employees and more than 30% of group management are women. Additionally, over 40% of the Board of Directors are women.
In a recent survey, DNB’s Customer Satisfaction Index showed a declining trend year over year. The company has also been criticized for assisting wealthy clients on tax evasion.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 06/30/2017 and may not reflect current opinions or subsequent events.