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Background

Heimdal Nordic ApS take our social responsibility seriously and we strive to do our utmost to incorporate relevant aspects of ESG in our work and behavior on a daily basis. 

ESG is basically the company’s and its employees’ commitment to responsible behavior on all matters both big and small and on micro and macro level. This is done, among other things, by taking into account employee rights, social conditions, environment and work environment.

ESG is an integrated part of the company’s DNA which is manifested by adopting the UN 17 Sustainable Development Goals as well as the 10 Principles of the UN Global Compact. However, our services and core business are focused on financing and debt related business in the Nordics. This basically means that not all the goals and principles easily find practical application in our daily work.

Therefore, this policy is generally adopted to ensure awareness by everybody in the company of the overall approach which must reflect in everything we do.

This also means that we must focus on i) the things we can impact on a daily basis and ii) areas we can impact via investments made under a mandate or via advisory or portfolios we service on behalf of other investors. 

What does ESG mean at Heimdal Nordic?

The employees are Heimdal Nordic’s most valuable assets. We strive to have a varied workforce both in terms of age, gender and cultural background. 

We will support education of both permanent staff but also hire interns working with topics and assignments relevant for their studies. 

We do allocate time and resources to help business schools via input to education and teaching. We also attend conferences and seminars etc. offering our professional input on any relevant issue. 

Heimdal Nordic is a part of society and we do strive to act socially responsible. We are aware that our employees from time to time might find themselves in stressed situations, unrelated to work, which we, however, need to embrace in order to support a loyal employee. 

We do also support our employees in any kind of voluntary work by offering the flexibility to plan working hours as to best possible accommodate such contribution to society. 

We can and will not accept any of our employees ending up sick due to stress. We, as company but also co-workers, have an obligation to address and act on any concerns in due time to avoid such situations. 

Heimdal Nordic wish to be an attractive workplace for all employees and our ambition is that employees feel proud to work for a company of high moral and ethical standards. 

By being best in class Heimdal Nordic believe that we create better relations to our employees, clients and stakeholders.

How does it impact our clients?

As member of UN PRI we focus on ESG when performing our services. Both when managing assets for investors and when investing under mandates. 

It’s an integrated part of our underwriting of new loans and investing that borrowers and transactions live up to the Principles for Responsible Investments as defined by UN PRI. 

As a part of underwriting and investment decisions we check and track that this ESG-policy has been complied with. Performance of these checks and confirmation of compliance will be done under a foureye-principle and the Compliance Officer will furthermore make random checks on transaction level and report any contraventions to the supervisory board. 

We make our own assessment of potential clients and borrowers to confirm that they basically: 
• respect the basic human rights; 
• comply with the principles set out in a range of international conventions on environment and working conditions; 
• do not contribute to serious violations to the rights of individuals in war/conflict situations. 

In addition, we undertake that no investments will be made in companies: 
• that participate in the production or development of cluster bombs, nuclear weapons or subcomponents, which can be utilized to produce such types of weapons; 
• that produce tobacco; 
• in which more than 30 per cent of the turnover can be linked to coal through e.g. mining or burning; 
• with involvement in tar sands. 

Whenever possible we will include ESG related (particularly social) clauses in any loan documentation or other documents to be agreed with partners and relevant subcontractors. 

On an annual basis senior management alongside the compliance officer/the person responsible for compliance in Heimdal Nordic will evaluate this policy but also conclude on the results and efforts of the previous year and will include the result in the management review as a part of the annual report. 

This policy is approved by the supervisory board of Heimdal Nordic ApS and will be updated on an annual basis, or whenever relevant.