Norway's largest pensions company KLP announces it is investing EUR 282m in the four of the new Nordic Swan eco-labelled funds it has launched.

The company now has a family of five Swan-labelled funds with a theme of 'more corporate social responsibility'. Three of the five funds are mutual and two invest in fixed income. KLP manages assets worth approximately EUR 70bn.

The new funds continue to follow the KLP's investment policy of excluding companies involved in coal and tar sand oil, tobacco, alcohol, gambling and pornography. The same goes for companies that cause or contribute to causing severe environmental damage, maintain unacceptable working conditions, violate human rights or engage in corruption.

In addition to the requirements set for the Swan label, KLP has placed additional requirements for the fund regarding ownership matters, dialog with companies, transparency, reporting and quality of management, KLP statement says.

KLP launched the first Swan eco-labelled fund in Norway in June 2018. The four new funds now mean the company today offers a full savings profile of Swan labeled funds.

"We hope the family of funds will become attractive pension and savings products that help move the capital from fossil to more corporate social responsibility,” says Håvard Gulbrandsen, CEO of KLP Kapitalforvaltning.

Gulbrandsen said KLP offers all its Nordic Swan-labelled funds at the same price as the corresponding index fund. "Taking social responsibility into account should not cost more," he noted.