The FSÍ’s operations will emphasise compliance with guidelines on sound corporate governance. In deciding on investments in limited liability companies, the Fund will consider the OECD Principles of Corporate Governance, as well as the Guidelines on Corporate Governance issued by the Iceland Chamber of Commerce, the Iceland Stock Exchange (OMX Nordic Exchange in Iceland), and the Confederation of Icelandic Employers (SA). It will also give consideration to the newly issued Guidelines on Governance of Public Entities, published by the Iceland Chamber of Commerce, the Nasdaq OMX Nordic Exchange in Iceland, and the Confederation of Icelandic Employers (SA). Furthermore, the Fund will consider the Icelandic Federation of Labour rules on socially responsible investing.
The FSÍ will actively carry out its ownership duties and will communicate suggestions and comments on the operation, policy, and governance of the companies in which it invests through its shareholder policy, via shareholder agreements, at board meetings and shareholders’ meetings, and through direct interactions with the management of the companies concerned.
The provisions of the Administrative Procedures Act pertaining to eligibility of board members will apply to the treatment of individual matters and to decision-making within the Board of the FSÍ. This implies that, at meetings of the FSÍ Board, members will not participate in discussions or decisions concerning companies in which they have interests at stake. As appropriate, the FSÍ will emphasise using the same policy is followed by the boards of companies in which it invests.
The FSÍ is a primary investor that, in addition to achieving excellent returns on its holdings, aims to promote the growth and success of the firms in which it invests. The FSÍ intends to place strong emphasis on carrying out its tasks as an investor in a responsible manner and basing its activities on important social values and sound governance practice, so as to protect the interests of the Fund as an investor to the maximum extent possible. It will take into account the United Nations Principles for Responsible Investment. The FSÍ will also adopt general guidelines regarding environmental issues, social responsibility, and human rights. It is important that the Fund keep its investors well informed of its investments and activities. <?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office”>