The structure of the analysis and the indicators chosen are based on the mission goals adopted for the company by the annual general meeting. The performance indicators are defined in the goals set out in the Ownership instructions which have also constituted the adopted goals for sustainable value creation approved by the board of directors since 2020. In order to further clarify the trends in performance under each pillar, Swedfund reports on the additional performance indicators within the pillars of impact on society and sustainability, which are based on the business strategy approved by the board of directors. The work has also taken into account the State’s ownership policy and principles for state ownership. As in previous years, Swedfund is reporting the results of portfolio companies with a one-year lag, which means that this year’s report is based on the results of the portfolio companies in 2022. The results of the portfolio companies indicate further growth in direct jobs, especially in the funds´ underlying companies.
The results also show an increase in tax payments. The number of indirect jobs created through supply chains, consumption and access to finance and energy is also growing. With regards to gender equality and women’s economic empowerment, the portfolio is close to the adopted targets (54 percent of our investments are estimated to meet at least one of the 2X Challenge criteria; the target is 60 percent), although the results have decreased slightly compared to the previous year due to a stricter interpretation of the criteria. The proportion of female employees has remained stable over the past three years, but the proportion of women in senior management positions has declined. Reported total greenhouse gas emissions from Swedfund’s portfolio have increased due to expansion of the portfolio. At the same time, emissions per krona invested have continued to fall compared to the previous year. A new indicator for reporting emissions avoided has been introduced. The sustainability indicators regarding decent work, management systems for environmental and social issues, and anti-corruption, show that an increasing proportion of the companies that have been part of Swedfund’s portfolio for more than three years are considered to meet the requirements that we have set. Sixty seven percent of direct investments increase both turnover and profitability (EBIT) with the investment year as the base year.
