FI is publishing today three reports on sustainability. The reports show that the work with sustainability is progressing on several fronts and that the industry’s own initiatives, where relevant, are working. But there is still a lot of work left to be done. FI is also publishing a follow-up report for the Government on FI's work with sustainability-related matters in 2018.
The fund industry has developed a standard that fund managers should use to provide consumers with information about how a fund works with sustainability aspects in its fund management. FI has reviewed how the industry's self-regulation has worked in the area. The overall assessment is that there are good conditions in place for continued self-regulation. However, the industry needs to continue to develop the information standard and adapt it more to the needs of consumers. FI intends to continue to monitor and evaluate the industry's work and also expects the industry to regularly evaluate the results of its work itself.
FI has followed up on the banks' internal rules for lending to corporates to see if there were any changes since 2015 in how the banks consider sustainability-related risks. One clear change is that the banks consider these risks in their lending to corporates to a greater extent than they did before. The internal governance documents are more extensive and more detailed in this area as well. FI also sees a need to continue to improve transparency in and comparability of sustainability-related information.
FI has surveyed how 67 firms describe the integration of sustainability into corporate governance in their public sustainability information. The results of the survey indicate that the work to integrate sustainability into firms' corporate governance is progressing, but that more work is required at many of the firms. FI notes that it is often difficult to determine how the sustainability policies are integrated at the operational level and if these policies have an effect. The firms' descriptions of how sustainability-related risks are identified and managed are often unclear, and the results of the survey can be an indication that the firms have progressed to varying degrees in their work with these risks.
FI has conducted a number of supervision activities related to sustainability at the same time as the organisation has been partly restructured and received additional resources. During the year, FI's work has focused on integrating sustainability-related matters into its ongoing supervision, a project that will continue and be intensified. FI has also taken on the role of a driver in the international work on sustainability, which is becoming more intensive. This intensification is necessary for progressing in a number of important matters in the area.