Collaboration, Partnerships and Commitments

We take many actions within our own operations, but it is through collaboration and partnerships that we can be a stronger driver of transition and change. Across our value chain, we set expectations for responsible business conduct and sustainability, and we help shape the regulatory and structural conditions for sustainability in the industry by engaging with authorities and participating in networks. We therefore endorse recognised international principles and standards.

In line with the Paris Agreement, we are committed to reducing our own greenhouse gas emissions and to achieving climate neutrality by 2050. This entails changes in our internal operations and targeted engagement with key nodes in our value chain. Lower consumption through circular solutions supports both the Paris Agreement and the Nature Agreement by making better use of existing resources and reducing emissions. We aim to act as a catalyst for the wider transition in step with society. In our transformation plan described in the annual report, we show how we have started the work towards goals and measures going forward to reach climate neutrality.

We base our sustainability work on the following guiding principles, standards and frameworks:

• UN Sustainable Development Goals (SDGs)
• UN Global Compact — Ten Principles
• UNsupported Principles for Responsible Investment (PRI)
• UN Universal Declaration of Human Rights
• OECD Guidelines for Multinational Enterprises
• ILO Declaration on Fundamental Principles and Rights at Work (the eight Core Conventions)
• Insight from publicly available information from Science Based Targets initiative (SBTi)
• Partnership for Carbon Accounting Financials (PCAF) methodology

Fremtind participates in a range of sustainability networks through our membership of Finance Norway, including the Expert Committee on Sustainable Finance. Through Finance Norway we engage with Norwegian and international authorities to secure an enabling framework that delivers positive sustainability outcomes for the insurance sector. We also help develop appropriate market standards and practices for effective and comparable sustainability measurement and reporting across the industry.

Fremtind is a member of Skift – Business Climate Leaders, which works for a businessled green transition to a lowemission society. We lead Klimatilpasningsskiftet (the Climate Adaptation initiative) within the Skift network, aiming to reduce climate risk by sharing expertise and acting as a dialogue partner to public authorities.

Fremtind is a member and supporter of Oslo Municipality’s Business for Climate network. The purpose is to provide an arena for dialogue and cooperation between the municipality and businesses to achieve the city’s climate targets, and to mobilise companies and other organisations to contribute actively towards Oslo’s 2030 climate goals in line with the city’s climate strategy.

Fremtind is a member of Norsif (the Norwegian Forum for Responsible and Sustainable Investment), a membership network that promotes the development of responsible investment as a professional field in Norway.

Fremtind has signed the Women in Finance Charter (Norway) and follows up the related commitments. Through this, we also contribute to increasing the share of women in leadership positions across Norway’s financial sector.

Through a collaboration with the Terravera Foundation we quantify CO₂ savings from using reclaimed car parts in repairs. Terravera has developed a tool for Fremtind that assesses emissions for different car parts and models over their life cycle, providing input to our carbon accounting for the claims supply chain.