Sustainability policy
Sustainability and corporate responsibility
For us at the Benify Group, of which Lifeplan is a part, sustainability and corporate responsibility mean not only complying with laws and regulations, but also taking social and environmental responsibility. We also want to be an ethical role model in all aspects of our work.
Our mission statement
As a benefits service provider, the Group has a major responsibility to help our customers provide sustainable benefits for their employees, which in turn has a positive impact on their lives and well-being. We also have a responsibility to our internal and external stakeholders to be environmentally, socially and economically responsible in our daily operations.
To clarify our focus on sustainability and make it a natural part of our processes and strategies, Benify has established a Sustainability Officer to ensure that the group has an active environmental and sustainability programme. Our position on sustainability is clarified in our Code of Conduct, which is available on Benify’s website. In addition, we have specific policies in a wide range of areas, such as Anti-Corruption Policy, Environmental Policy and Travel Policy.
Our commitment
The Group’s Code of Conduct and Environmental Policy describe the concrete actions we take to reduce our own carbon footprint as well as that of our customers and suppliers. For example, we always include an annex in our cooperation agreements on Ethical and Environmental Requirements. Through the advisory service offered by Lifeplan, users can, if they wish, receive investment advice for their pension savings that takes sustainability into account. In this way, we contribute to more sustainable pension savings in the Swedish market. pensionssparande på den svenska marknaden.
Common Rules
The EU has agreed on an action plan for financial market participants to contribute to the transition to a more sustainable economy. A comprehensive regulatory framework has been developed with requirements for transparency regarding the sustainability work of financial players. Among other things, they must report how sustainability risk is integrated in connection with investment advice.
Sustainability risk is defined as an environmental, social or governance-related event or circumstance that, if it were to occur, would have an actual or potential material adverse effect on the value of the investment.
Fund and insurance companies should disclose in a standardised way how the products they offer to the market either contribute to environmental and social sustainability objectives or whether the funds’ investments do not cause significant harm to environmental or social sustainability. Based on this information, investment advisors must in turn describe how the advice provided takes into account clients’ sustainability preferences.
In addition to the transparency requirements under the Disclosure Regulation, EU regulations also include requirements on how product governance and suitability assessments related to advice should take sustainability aspects into account.
Lifeplan investment counselling
In the independent advisory service, Lifeplan gives the user the opportunity to have preferences regarding sustainability and adapts the advice based on these preferences, while ensuring that the user receives fully personalised advice with optimal risk diversification and low fees. The user is informed about the implications of the sustainability choice and its impact on the return of the advice as a whole. The design of the sustainability solution in the advisory service is based on the common EU regulatory framework and the sustainability parameters reported by the fund and insurance companies, which are also available through a comprehensive automatic reporting. The advice only covers funds and other financial products offered on the Swedish market and which are therefore subject to requirements to integrate sustainability risk into management. In the evaluation of which products are considered suitable to recommend to the client, sustainability aspects such as the extent to which the product takes into account the main negative consequences of sustainability factors are taken into account, in addition to a number of other parameters, such as exposure to different asset classes, active risk, costs and expected future returns/performance against indices.
Remuneration policy
Lifeplan is an algorithm-based independent advisory service. The company does not accept remuneration from third parties (such as kick-backs or commissions) and employees’ remuneration is not incentivised at all to take individual risks related to the sustainability risks associated with the advice.
Lifeplan has also ensured that its remuneration policy is consistent with the company’s business and risk strategy, including environmental, social and governance objectives, corporate culture and values. The remuneration policy is also designed to take into account the long-term interests of the company and the measures used to avoid conflicts of interest and to encourage responsible risk-taking and corporate behaviour in line with the Group’s policies in this area.
