In the first half of 2026, LD Pensions strengthened its active ownership through targeted voting and close follow-up on dialogues with companies.
We have strengthened our active ownership by focusing on companies with the greatest financial or ESG significance.
At the same time, the switch to a new ESG partner has given us a better opportunity to monitor companies’ progress and work systematically with dialogue, follow-up and documentation over time. This provides us with a stronger basis for targeting our active ownership where it is most relevant.
Fewer votes, greater focus
By 2026, in LD Pensions the approach to voting at general meetings of the companies in which we invest will have changed. Voting is prioritised in those companies where LD Pensions has significant financial or ESG exposure, and where the votes can best support our other active ownership work.
In the first half of the year, LD Pensions voted at general meetings in 462 companies and cast votes on 6,939 agenda items. Although we vote in fewer companies, our voting activity covers a larger proportion of the equity portfolio’s total market value. This activity covered 85 per cent in the first half of 2026, compared with 82 per cent in 2025.
Efforts are focused on those companies and sectors where voting is considered to be of greatest relevance.
Dialogue with 326 companies
From 2026, LD Pensions has entered into a partnership with Federated Hermes EOS. This has strengthened our dialogue with companies, as we can now track their progress through specific milestones and thus follow up more systematically.
In the first half of the year, our engagement work comprised 933 engagements across 326 companies. This means that we have engaged with approximately one in five companies in our equity portfolio. The majority of these dialogues have centred on climate and the environment, as well as social issues such as workers’ rights and human rights.
Progress was recorded in 164 dialogue processes, representing 18 per cent. The aim is for companies to improve their practices to such an extent that there is no longer any need for dialogue.
The carbon footprint remains below target
LD Pensions is committed to reducing the carbon footprint of our investments. We remain below the climate target for both equities and corporate bonds. Since 2019, the carbon footprint has been reduced by around 41 per cent for the equity portfolio and around 50 per cent for corporate bonds.
