AP7, Stockholm, is searching for providers of environmental, social and governance screening, analysis and advisory services.
The 268.8 billion Swedish kronor ($31.9 billion) pension fund has split its search into two separate contracts. The first is to hire a provider of norm-based analysis and engagement services, said a notice filed with European procurement website Tenders Electronic Daily. The pension fund's website said AP7's norm-based model for responsible investment is focused on the fundamental principle that it does not invest in companies that “commit serious violations of international conventions signed by Sweden.”
The successful provider will screen and analyze AP7's holdings for companies that are involved in breaches of AP7's fundamental principles based on the pension fund's policy. It will also provide pooled engagement services with companies regarding its principles.
AP7 is also looking to hire a provider to support the pension fund in developing its thematic approach to ESG investment. The themes will run over a three-year period, and when each one-year theme concludes, a new theme will be introduced.
The successful provider will support AP7 in implementing its thematic work. Before the beginning of the first year of implementation, the hired firm will provide intelligence and research for identifying themes, as well as active ownership projects specific to AP7, such as engagement with companies and voting activities.
During the first and second year of the three-year thematic project, the provider will advise on implementation. In the final year of implementation, the provider will support AP7 in evaluating the effects of the thematic work. This will help to decide next steps and possible future development of AP7's internal ownership processes. It will also provide data and information for AP7's annual reporting requirements.
The notice is available on TED. Proposals are due Sept. 28.
Spokesmen for AP7 could not be reached by press time. An executive at AffarsConcept, a procurement consultant listed as a contact for the search, could not be reached for comment by press time.