February 2022
Active Ownership Report: 2021
Danske Bank Asset Management

2
When customers entrust us with their assets and savings, it is our duty to serve their interests by providing investment 
solutions with the goal to deliver competitive and long-term performance. Our firm commitment to Responsible Investment is 
an integral part of this duty. It is about making better-informed investment decisions – addressing issues of risk, problems, and 
dilemmas, and influencing portfolio companies through active ownership to contribute to a positive outcome.
Active ownership – through direct dialogue, collaborative engagement and voting at the annual general meetings – is an 
important part of our ability to create long-term value to the companies we invest in and to our investors. 
We believe it is more responsible to address material sustainability matters as investors rather than refraining from investing 
when issues of concern arise, leaving the problem to someone else to solve. Our investment teams are the change agents who 
can impact companies to manage risks and opportunities.
The aim of our Active Ownership Report covering three parts ‘Engagements’, ‘Collaborative Engagements’ and ‘Voting’ is to 
provide our customers and stakeholders with regular updates on our progress and results.
Active Ownership Report
The 3 parts of the report
Part 1: 
Engagements
Part 2: 
Voting
Part 3: 
Collaborative 
Engagements

3
Where to get additional information
Responsible Investment Policy
click here
Active Ownership Instruction
click here
Voting Guidelines
click here
Investment Restrictions
click here
Principal Adverse Impact Statement
click here
Proxy Voting Dashboard
click here
Our Responsible Investment Journey
click here
Investment Approach on Climate
click here
Proxy Voting Dashboard
click here

Active Ownership Report, Part 1 
Engagements
This presentation is intended to be used as marketing material as defined by the European Directive 2014/65/EU dated 15 May 2014 (MiFID II) in Austria, Belgium, Denmark, Finland, France, Germany, 
Luxembourg, the Netherlands, Norway, Sweden, Switzerland and the United Kingdom.

5
Engagements introduction
We believe that investment manager-driven dialogue with portfolio 
companies is the most effective as the investment teams are the experts of 
their respective strategies and portfolios, and tasked with the buy/sell 
decision. 
As such, the investment teams engage on a regular basis with investee 
companies on material ESG matters in order to enhance and protect the 
value of the investments. 
In order to ensure a structured engagement process, we log and monitor 
company dialogue and progress.

6
In 2021, we have had the following engagement activities
Interactions
1420
Country domiciles
49
Companies
938
Engagement subjects
104

7
57
56
53
49
45
45
33
28
27
25
Pharmaceuticals (Consumer, Non-cyclical)
Banks (Financial)
Retail (Consumer, Cyclical)
Chemicals (Basic Materials)
Software (Technology)
Food (Consumer, Non-cyclical)
Commercial Services (Consumer, Non-cyclical)
Oil&Gas (Energy)
Healthcare-Products (Consumer, Non-cyclical)
Real Estate (Financial)
Top 10 industries most engaged with 
Number of companies per industry (Sector in bracket)
Note: The Bloomberg Industry Classification Systems (BICS) is used for sector classification
Companies
938

8
Engagement with companies domiciled across the world
Country domiciles
49

9
Split between engagement subjects
Environmental
44%
Social
23%
Governance
33%
E
S
G
Engagement subjects
104

10
Split between engagement themes across regions
Nordics
47%
21%
32%
Eastern Europe
56%
11%
33%
Western & Southern Europe
47%
25%
28%
Rest of the world
35%
27%
38%
E
S
G
Engagement subjects
104

11
Engagements subjects discussed
E
S
G
Accounting
AML Issues & Handling
Anti-Corruption Issues & Handling
Anti-Trust Issues & Competitive Behavior
Board Compensation
Board Composition
Bond redemption
Business Ethics
Capital Structure
Competence
Compliance Procedures
Corporate Behavior
Corporate Disclosure
Corporate Governance
Corporate purpose
Critical Incident Risk Management
Data Privacy
Digitalisation As Sustainability Driver
Dividends
ESG Funding
ESG Integration
Executive Compensation
Executive Composition
Future Fit
Gender Equality
Impact of Tax Regulation
Incentive Programs
M&A
Management of The Legal & Regulatory Environment
Materials Sourcing & Efficiency
Military Sales Process
Overboarding
Ownership Structure
Political Risk
Profit Warning
Quality Management
Regulations
Regulatory Compliance
Research & Development
Restructuring
Share Buybacks
Sustainability Integration & Reporting
Sustainability Strategy
Sustainability Targets
Systemic Risk Management
Tax Issues
Technology Disruption
Access & Affordability
Animal Welfare
Automation
Business Model Resilience
Circular Economy
Customer Education
Customer Privacy
Customer Welfare
Data Security
Decent Work & Economic Growth
Digitalisation
Employee Engagement, Diversity & Inclusion
Employee Health & Safety
Employee Retention
Food Safety
Indigenous Rights
Human Rights & Community Relations
Labor Standards/Practices
Personnel Turnover
Product Design & Lifecycle Management
Product Development
Product Quality & Safety
Resource Efficiency
Responsible Drinking
SDGs
Selling Practices & Product Labeling
Supply Chain Management
Agriculture
Air Quality
Biodiversity
Automation
Chemicals management
Climate Neutrality
Deforestation
Circular Economy
Digitalisation
Ecological Impacts
Energy Consumption
Energy Efficiency
Energy Management
Energy Transformation
Environmental Incidents
Environmental Issues
Environmental Regulation
Environmental Supply Chain
ESG Issues In Fish Farming
EU Taxonomy
GHG Emissions
Green Buildings
Green Financing
Palm Oil Production
Physical Impacts Of Climate Change
Plastic/Recycling Products
SDGs
Sustainability Certificates
Sustainable Products
Sustainable Shipping
Sustainable Transports
Waste & Hazardous Materials Management
Water & Wastewater Management
Engagement subjects
104

12
Top 7 engagement subjects discussed across themes
Rank
Subject
Count 
1
GHG Emissions
283
2
Energy Efficiency
103
3
Energy Transformation
98
4
Circular Economy
96
5
Climate Neutrality
77
6
EU Taxonomy
72
7
Environmental Issues
69
Rank
Subject
Count
1
Employee Health & 
Safety
98
2
Access & Affordability
84
3
Employee Engagement, 
Diversity & Inclusion
71
Business Model 
Resilience
61
Data Security
60
Supply Chain 
Management
42
Digitalisation
35
Rank
Subject
Count
1
M&A
147
2
Board Compensation
135
3
Capital Structure
91
4
ESG Integration
89
5
Dividends
65
6
Corporate Governance
61
7
Board Composition
44
1
4
5
6
7
2
3
1
2
3
1
4
5
6
7
2
3
4
5
6
E
S
G
E
7
1
2
3
4
5
6
S
G
Engagement subjects
104

13
Most frequent engagement subjects discussed
283
147
135
104
103
98
98
91
89
84
77
72
71
GHG Emissions
M&A
Board
Compensation
Circular
Economy
Energy
Efficiency
Energy
Transformation
Employee
Health & Safety
Capital
Structure
ESG Integration
Access &
Affordability
Climate
Neutrality
EU Taxonomy
Employee
Engagement,
Diversity &
Inclusion
E
S
G
Interactions
1420

14
206
235
76
84
Top 10 and interactions distribution across Nordic countries & regions
Rank
Country
Count
Sweden
235
United States
218
Norway
206
Japan
105
Denmark
84
Finland
76
United Kingdom
68
China
54
Germany
45
France
40
1
2
3
4
5
6
7
8
9
10
Region
Count
Nordics
606
Western & Southern Europe
288
Rest of the world
480
Eastern Europe
46
Interactions
1420

15
Most commonly addressed engagement subjects across geography
Board 
Compensation
M&A
GHG Emissions
Dividends
ESG Issues In 
Fish Farming
Capital 
Structure
Climate 
Neutrality
GHG Emissions
Interactions
1420
GHG 
Emissions
Board 
Composition
Access & 
Affordability
GHG Emissions
GHG Emissions
GHG Emissions
Access & 
Affordability
Energy 
Transformation
Green 
Financing
Dividends
GHG 
Emissions
GHG Emissions

16
Company interactions by meeting type and participants
One -to-
one
54%
With other 
investors
46%
Share of meeting types
Share of meetings by participants
Interactions
1420
43,2%
23,7%
15,5%
6,5%
5,1%
2,8%
2,6%
0,6%
CEOO
IR
CFOO
Other
Executive
Vice
President
Corporate
Sustainability
Board of
directors
Treasury

17
Principal Adverse Impacts (PAIs)
We consider the principal adverse impacts on sustainability factors that our investment decisions have. We address principal adverse impacts on sustainability factors 
according to their materiality and type. 
We use external market research providers and other publicly available information, internal dashboards, tools and frameworks and the expertise of our Investment and 
Responsible Investment teams to identify the principal adverse impacts on sustainability factors. While the considerations relevant to principal adverse impacts on 
sustainability factors are different from those relating to sustainability risks, we identify principal adverse impacts in the investment decision-making process via utilization 
of the same framework as the one applied for sustainability risk integration. How sustainability risks are identified is outlined in the Responsible Investment Policy. The 
consideration and prioritization of identified principal adverse impacts are further defined in the underlying instructions to the Policy. 
We address principal adverse impacts through our active ownership and investment restriction activities as described in our Responsible Investment Policy. Active 
ownership is conducted through voting, dialogue and collaborative activities. In addition, we have incorporated the principal adverse impact indicators into our voting 
guidelines. Our screenings can result in exclusions related to principal adverse impacts. We exclude companies based on violations in relation to international standards 
such as the Global Compact and OECD Guidelines for Multinational Enterprises. For example, certain companies that contribute significantly to climate change, damage 
biodiversity, water pollution, violate human rights, have insufficient labor rights or are involved in corruption are excluded.
We have mapped the mandatory and voluntary indicators of principal adverse impacts to our ESG subjects that based on them our investment teams engage with the 
investee companies. The coverage of PAIs indicators  by categories for corporate and for Sovereigns, Supranationals include in the following slides.

18
Adverse sustainability indicators in scope for PAIs
Climate and 
other environmental-related indicators
Activities negatively affecting biodiversity sensitive areas
Carbon emission reduction initiatives
Carbon footprint
Chemical production
Deforestation
Emissions of air pollutants
Emissions of inorganic pollutants
Emissions of ozone depletion substances
Emissions to water
Energy consumption by type of non-renewable sources of energy
Energy consumption intensity per high impact climate sector
Exposure to areas of high water stress
Fossil fuel sector activity
GHG emissions
GHG intensity
Green securities
Hazardous waste ratio
Land degradation, desertification, soil sealing
Natural species and protected areas
Non-recycled waste ratio
Non-renewable energy consumption and production
Sustainable land/agriculture practices
Sustainable oceans/seas practices
Water management policies
Water usage and recycling
Social and employee, respect for human rights, 
anti-corruption and anti-bribery matters
Action taken to address breaches of standards of 
anti-corruption and anti-bribery
Anti-corruption and anti-bribery policies
Board gender diversity
Convictions and fines for violation of anti-corruption and anti-bribery 
laws
Excessive CEO pay ratio
Exposure to controversial weapons
Grievance/complaints handling mechanism related to employee 
matters
Human rights due diligence
Human rights policy
Identified cases of severe human rights issues and incidents
Incidents of discrimination
Number of days lost to injuries, accidents, fatalities or illness
Operations and suppliers at significant risk of incidents of child labor
Operations and suppliers at significant risk of incidents of forced 
or compulsory labor
Processes and compliance mechanisms to monitor compliance with 
UNGC principles and OECD Guidelines
Processes and measures for preventing trafficking in human beings
Rate of accidents
Supplier code of conduct
Unadjusted gender pay gap
Violations of UNGC principles and OECD Guidelines
Whistle-blower protection
Workplace accident prevention policies

19
Top 7 Adverse sustainability indicators in company engagements addressed
298
105
98
77
72
59
37
Carbon footprint
GHG emissions
Fossil fuel sector activity
Carbon emission reduction initiatives
Activities negatively affecting biodiversity
sensitive areas
Green Securities
Energy consumption by type of non-
renewable sources of energy
107
98
71
69
49
32
24
Processes and compliance mechanisms to
monitor compliance with UN Global
Compact principles and OECD Guidelines
Workplace accident prevention policies
Unadjusted gender pay gap
Violations of UN Global Compact principles
and Organisation for Economic Cooperation
and Development (OECD) Guidelines
Board gender diversity
Excessive CEO pay ratio
Incidents of discrimination
Climate and 
other environmental-related indicators*
Social and employee, respect for human rights, 
anti-corruption and anti-bribery matters*
* Adverse sustainability impact indicators may have been engaged within certain broader engagement subjects

20
Sovereigns: In 2021, we have had 30 engagements with 25 governmental entities

21
Sovereigns: In 2021, we have had 24 engagement subjects discussed
Green Financing
Decent Work & 
Economic Growth
SEO 
Governance
Regulations
Green Financing
Fiscal Issues
Green Financing
Green Financing
Fiscal Issues
Pension System
Fiscal Issues
Decent Work & 
Economic Growth
Regulations
SEO 
Governance
Corporate Governance
Monetary Policies
Fiscal Issues
Green Financing
Environmental 
Issues

22
Sovereigns: Adverse sustainability indicators in scope for PAIs
Environmental, Social, 
Governance and Human Rights Indicators
Average corruption score
Average freedom of expression score
Average human rights performance
Average income inequality score
Average political stability score
Average rule of law score
GHG intensity
Investee countries subject to social violations
Non-cooperative tax jurisdictions
Adverse Sustainability Indicators* 
in Sovereign Engagements addressed
* Adverse sustainability impact indicators may have been engaged within certain broader engagement subjects
6
5
3
GHG intensity
Average income inequality score
Average political stability score

Active Ownership Report, Part 2 
Voting
This presentation is intended to be used as marketing material as defined by the European Directive 2014/65/EU dated 15 May 2014 (MiFID II) in Austria, Belgium, Denmark, Finland, France, Germany, 
Luxembourg, the Netherlands, Norway, Sweden, Switzerland and the United Kingdom.

24
Voting introduction
The general meetings of companies are an opportunity to voice our opinion, 
vote on issues of key importance, and contribute to the good governance of the 
company. We seek to vote on all shares held, under both passive and active 
strategies, while taking into account preconditions, resources, and the costs of 
exercising voting rights. 
Our Danske Bank Voting Guidelines serve as our default position for all 
proposals, but our investment teams managing our active portfolios can 
deviate based on case specific details. As enshrined in our Active Ownership 
Policy and Instructions, voting must always be carried out for the benefit of 
the investors. 
In order to ensure a structured and transparent process, we log and publish 
records of the vote that we have conducted either by ourselves or through a 
service provider.

25
In 2021, we have had the following voting activities
Country domiciles
67
Companies
3 003
Meetings
3 863
Proposals
39 955

26
Note1: Global Industry Classification Standard (GICS) is used for sector classification
Note2: Eleven companies lack GICS data
259
150
139
132
130
126
125
120
119
109
Banks (Financials)
Software (Information Technology)
Capital Markets (Financials)
Metals & Mining (Materials)
Food Products (Consumer Staples)
Chemicals (Materials)
Insurance (Financials)
Machinery (Industrials)
Real Estate Management & Development (Real Estate)
Oil, Gas & Consumable Fuels (Energy)
Top 10 industries most voted 
Number of companies per industry (Sector in bracket)
Companies
3 003

27
Voting on companies domiciled across the world
Country domiciles
67

28
Split between meeting types
Annual 62,1%
Special 24,9%
Extraordinary Shareholders
9,3%
Annual/Special 2,5%
Ordinary Shareholders 0,7%
Court 0,3%
Proxy Contest 0,2%
Meetings
3 863

29
78
140
54
108
Top 10 and voting distribution across Nordic countries & regions
Rank
Country
Count
USA
915
China
816
Japan
267
India
157
Sweden
140
Cayman Islands
133
United Kingdom
127
Denmark
108
Norway
78
Brazil
75
1
2
3
4
5
6
7
8
9
10
Region
Count
Nordics
384
Western & Southern Europe
722
Rest of the world
2 677
Eastern Europe
80
Meetings
3 863

30
Split between voting instructions and voted proposals
Note 2: Eleven proposals were voted in varying ways for the same meeting agenda item
Note 1: Across all voted proposals, 53 proposals with the type of ‘Advisory Vote on Say on Pay Frequency’ was voted on for one year
For
36 094
Against/Withhold
3 445
Abstain
363
Total
39 902
Voted proposals
Management proposals
Shareholder proposals
For
35 344
Against/Withhold
3 223
Abstain
339
Total
38 906
For
750
Against/Withhold
222
Abstain
24
Total
996
75,3%
22,3%
2,4%
For
Against/Withhold
Abstain
90,4%
8,6%
0,9%
0,1%
For
Against/Withhold
Abstain
One Year
Proposals
39 955
90,7%
8,3%
0,9%
0,1%
For
Against/Withhold
Abstain
One Year

31
Split between voted proposals categories
565
128
92
82
51
49
18
8
Directors
Related
Routine/
Business
Other/
Misc
Health/
Environmental
Compensation
Corporate
Governance
Social
Proposal
Social/
Human Rights
20 574
8 385
4 027
3 980
1 538
281
99
73
2
Directors
Related
Routine/
Business
Capitalization
Non-Salary
Comp.
Reorg. and
Mergers
Antitakeover
Related
Miscellaneous
Other/Misc
Preferred/
Bondholder
Management proposals
Shareholder proposals
Proposals
39 955

32
Top 10 voted proposals against Management recommendations
60
72
77
87
91
102
142
146
283
919
Approve/Amend Regulations on Board of Directors
Authorize Reissuance of Repurchased Shares
Approve Issuance of Equity or Equity-Linked Securities with or without Preemptive Rights
Elect Director (Cumulative Voting or More Nominees Than Board Seats)
Amend Articles/Bylaws/Charter -- Organization-Related
Approve Remuneration Policy
Approve Restricted Stock Plan
Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights
Advisory Vote to Ratify Named Executive Officers'Compensation
Elect Director
Proposals
39 955

33
In 2021, we have voted ‘For’ on Environmental & Social proposals on 184 companies in 
17 domiciles across the world

34
Most common Environmental & Social proposal items voted ’For’
60
39
22
21
21
20
18
12
11
4
Approve Political
Donations
Approve Charitable
Donations
Accept/Approve
Corporate Social
Responsibility Report
Political Lobbying
Disclosure
Report on Climate
Change
Management
Climate-Related
Proposal
Political
Contributions
Disclosure
Report on EEOO
Miscellaneous
Proposal --
Environmental &
Social
Report on Pay
Disparity

35
In 2021, we have voted ‘For’ on the following proposals linked to Adverse Sustainability 
Indicators
11
4
3
2
2
1
1
1
Incidents of discrimination
Excessive CEO pay ratio
Carbon footprint
Lack of due diligence
Unadjusted gender pay gap
Lack of a human rights policy
Non-recycled waste ratio
Deforestation

Active Ownership Report, Part 3 
Collaborative Engagements
This presentation is intended to be used as marketing material as defined by the European Directive 2014/65/EU dated 15 May 2014 (MiFID II) in Austria, Belgium, Denmark, Finland, France, Germany, 
Luxembourg, the Netherlands, Norway, Sweden, Switzerland and the United Kingdom.

37
Collaborative Engagements introduction
In addition to our investment teams’ direct engagement with companies and 
our voting activities, we are part of numerous investor initiatives and alliances 
where we together with other investors influence companies to take action on 
sustainability issues and contribute to sustainable development. 
Through alliances and initiatives, we encourage companies to increase 
transparency and disclosure of e.g. climate impact and to move towards more 
sustainable business practices.
Collaborating with others supports and strengthens our ability to influence 
companies, as it can increase the power of our voice as an investor.

38
Danske Bank Group membership of Investor initiatives and alliances
Carbon Disclosure Project
The organisation encourages companies and cities to disclose 
their climate impact and aims to reduce companies’ greenhouse 
gas emissions and mitigate climate change risk. The organisation 
collects and shares information on greenhouse gas emissions 
and climate strategies in order to provide data and tools that 
enable investors to mitigate climate-related risks in investment 
decisions.
Task Force on Climate-related Financial Disclosures
TCFD develops voluntary, consistent, climate-related financial 
risk disclosures for use by companies when providing information 
to investors, lenders, insurers or other stakeholders. Danske 
Bank use TCFD recommendations to help structure our 
engagements with companies as part of our goal of being a 
change agent supporting companies in the transition to low-
carbon business models and creating real world positive 
outcomes.
The Institutional Investors Group on Climate Change
The European investor alliance focuses on mitigating climate 
change. The group has more than 250 members and its mission 
is to mobilise capital for the low-carbon transition and to ensure 
resilience to the effects of a changing climate by collaborating 
with companies, policymakers and fellow investors. The group 
works to support and help define the public policies, investment 
practices and corporate behaviours that address the long-term 
risks and opportunities associated with climate change.
Sustainability Accounting Standards Board
We have partnered with the Sustainability Accounting Standards 
Board to leverage their research and approach to which 
sustainability issues are business-critical and important for 
companies to address and manage, including climate related 
issues. In our engagements, we urge companies to adopt this 
approach as a way of enhancing their disclosure of which climate 
issues are critical for their business.

39
Danske Bank Group membership of Investor initiatives and alliances
Net Zero Asset Management Initiative
The Net Zero Asset Managers initiative is a group of international 
asset managers committed to supporting the goal of net zero 
greenhouse gas emissions by 2050 or sooner, in line with global 
efforts to limit warming to 1.5 degrees Celsius; and to supporting 
investing aligned with net zero emissions by 2050 or sooner. It is 
an initiative designed to mobilise action by the asset 
management industry that demonstrates leading practice in 
driving the transition to net zero and delivers the ambitious action 
and investment strategies that will be necessary to achieve the 
goal of net zero emissions. It also provides a forum to share best 
practice and overcome barriers to aligning investments to that 
net zero goal. 
Montreal Carbon Pledge
We are a signatory to the Montreal Carbon Pledge and we 
publicly disclose the carbon footprint of our equity and bond 
investment funds. Going forward, we will continue to increase the 
number of funds where we disclose their carbon footprint.
Partnerships for Carbon Accounting Financials
A global partnership of financial institutions that work together to 
develop and implement a harmonized approach to assessing and 
disclosing the greenhouse gas emissions associated with their 
loans and investments.
Climate Action 100+
It is one of the world’s largest investor led engagement initiatives. 
Together with more than 500 global investors we engage with 
the world’s largest corporate greenhouse gas emitters to curb 
CO2 emissions in line with the Paris Agreement’s climate targets 
and improve carbon emission disclosures. The initiative targets 
companies in the oil and gas, utilities, mining and metals, 
transportation, industrials and consumer products sectors.

40
Focus on climate change through Climate Action 100+
Targeted engagement with Caterpillar Inc.
We are currently engaging directly with the US construction equipment manufacturer 
Caterpillar Inc. together with other members of Climate Action 100+ and other large 
shareholders. Main priority is to build trust and a long-term relationship with the company 
and to be able to help and support them in their climate efforts. One tangible climate 
objective is to have Caterpillar Inc. commit to setting carbon emission reduction targets 
aimed at achieving carbon-neutrality by 2050.
Voting for increased climate transparency
We use our voting rights at companies’ annual general meetings to influence companies 
on climate matters. In H1 2021, we voted at general meetings on 113 companies. From 
our perspective it is important that companies are transparent about their climate 
lobbying activities and that they do not influence lawmakers to drop new regulations 
aimed at curbing carbon missions and supporting the transition to a cleaner society. 
Therefore, we have an ambition to vote at the general meetings of all Climate Action 100+ 
companies where we are owners.
12
9
4
3
3
3
3
2
2
1
1
Report on Climate
Change
Management
Climate-Related
Proposal
Approve Political
Donations
Accept/Approve
Corporate Social
Responsibility
Report
GHG Emissions
Political
Contributions
Disclosure
Political Lobbying
Disclosure
Approve Charitable
Donations
Report on EEOO
Link Executive Pay
to Social Criteria
Labor Issues -
Discrimination and
Miscellaneous
Note: In the chart above, supported Environmental and Social related proposals are presented

41
This publication has been prepared by Wealth Management — a division of Danske Bank A/S (“Danske Bank”). Danske Bank is under supervision by the Danish Financial Supervisory Authority (Finanstilsynet).
This publication has been prepared for information purposes only and it is not to be relied upon as investment, legal, tax, or financial advice. The Reader must consult with his or her professional advisors as to the legal, tax, financial 
or other matters relevant to the suitability and appropriateness of an investment. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its 
contents are fair and true, and not misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance on it. We accept no responsibility for the accuracy and/or 
completeness of any third party information obtained from sources we believe to be reliable but which have not been independently verified.
Any reference herein to any financial instrument and/or a particular issuer shall not constitute a recommendation to buy or sell, offer to buy, offer to sell, or a solicitation of an offer to buy or sell any such financial instruments 
issued by such issuer.
Danske Bank (acting on its own behalf or on behalf of other clients), its affiliates or staff, may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including 
derivatives), of any issuer mentioned herein. 
Neither this document nor any copy of it may be taken or transmitted into the United States of America, its territories or possessions (the ‘United States’) or distributed directly or indirectly in the United States or to any U.S. person 
(as defined in Regulation S under the U.S Securities Act of 1933, as amended), including any national or resident of the United States, or any corporation, partnership or other entity organised under the laws of the United States.
Copyright © Danske Bank A/S. All rights reserved. This publication is protected by copyright and may not be reproduced in whole or in part without permission.
Danske Bank Asset Management — a division of Danske Bank A/S
Holmens Kanal 2-12
DK-1092 Copenhagen, Denmark
Company reg. no.: 61 12 62 28 
Tel.  +45 45 13 96 00
Fax  +45 45 14 98 03
https://danskebank.dk/asset-management
Disclaimer & contact information

42
AAK AB
Air Liquide SA
Antero Resources Corp
Atlantic Sapphire ASA
BASF SE
Aars AS
Airthings ASA
Antofagasta PLC
Atlas Copco AB
Bath & Body Works Inc
ABB Ltd
Aisin Corp
AP Moller - Maersk A/S
Atrium Ljungberg AB
Bausch Health Cos Inc
Abbott Labs
Aker ASA
AQ Group AB
Aurora Eiendom AS
BAWAG Group AG
AbbVie Inc
Aker BioMarine ASA
Aquaporin A/S
Aurubis AG
Bayer AG
Absolent AB
Aker BP ASA
Arab Petroleum Investments Corp
Australia & New Zealand Banking 
Group Ltd
Becton Dickinson and Co
ACCIONA Energia Internacional SA
Aker Carbon Capture ASA
Archrock Partners LP / Archrock
Partners Finance Corp
Autoliv Inc
Beijer Ref
Accton Technology Corp
Aker Clean Hydrogen AS
Arctic Bioscience AS
AutoNation Inc
Belden Inc
Active Brands AS
Aker Horizons Holding AS
Ardagh Packaging Holdings Ltd
AutoStore
Belfius Bank SA
Activision Blizzard Inc
Aker Solutions ASA
Ares Capital Corp
Avangrid Inc
Beluga Group PJSC
Acuity Brands Inc
Akzo Nobel NV
Argenx SE
Avantor Inc
Bergman & Beving AB
Adderacare AB
Alain Afflelou SA
Arion Banki HF
Avanza Bank Holding AB
Berlin Hyp AG
AddLife AB
Albertsons Cos Inc
Arjo AB
Avenir LNG Ltd
Berry Global Group Inc
AddNode Group AB
Alibaba Group Holding Ltd
Arla Foods Finance A/S
AVEVA Group PLC
Betolar Oy
AddTech AB
Alliant Energy Corp
Arla Plast AB
AVI Ltd
BEWi ASA
Adecoagro SA
Allied Irish Banks PLC
Arrow Electronics Inc
Aviva PLC
BHG Group AB
ADEKA Corp
Alligo AB
Arrowhead Pharmaceuticals Inc
Avnet Inc
BHP Group Ltd
Adevinta ASA
Alm Brand A/S
Asahi Co Ltd
Awardit AB
BICO Group AB
Adler Pelzer Holding GmbH
Almaviva-The Italian Innovation Co SpA Asbury Automotive Group Inc
AXA SA
Bilibili Inc
Admicom Oyj
Alnylam Pharmaceuticals Inc
ASDA Group Ltd
Axalta Coating Systems Dutch Holding 
B BV
BioGaia AB
Advanz Pharma Corp Ltd
Alrosa PJSC
Ashland Services BV
Axis Bank Ltd
Biogen Inc
Aegis Logistics Ltd
Altera Shuttle Tankers LLC
Asian Paints Ltd
Ayala Land Inc
Biotage Sweden AB
Aethon United BR LP / Aethon United 
Finance Corp
Altice Finco SA
ASM International NV
Bakkafrost P/F
Bio-Techne Corp
AFRY AB
Amazon.com Inc
ASPEED Technology Inc
Ball Corp
Biotest AG
Afya Ltd
Ambu A/S
Assa Abloy AB
Baloise Holding AG
Black Knight Inc
AGCO Corp
Amdocs Ltd
Assemblin Financing AB
Banco Santander SA
Blue Racer Midstream LLC / Blue 
Racer Finance Corp
Agilent Technologies Inc
AmerisourceBergen Corp
Assicurazioni Generali SpA
Bank Norwegian ASA
BlueScope Steel Ltd
Agilyx AS
Amplifon SpA
Astellas Pharma Inc
Bank OZK
Boku Inc
AIA Group Ltd
Anheuser-Busch InBev SA/NV
AstraZeneca PLC
Bank Pembangunan Daerah Jawa
Barat Dan Banten Tbk PT
BoneSupport Holding AB
Aica Kogyo Co Ltd
Antero Midstream Partners LP / Antero 
Midstream Finance Corp
Atea ASA
Barclays PLC
Booking Holdings Inc
Engagement by company

43
Boreal Holding AS
Carlsberg AS
Cie Financiere Richemont SA
Crown European Holdings SA
DiscoverIE Group PLC
Boston Scientific Corp
Carnival Corp
Cie Generale des Etablissements 
Michelin SCA
CSAM Health AS
DNB ASA
Bouvet ASA
Carrefour SA
Cikarang Listrindo Tbk PT
CTT Systems AB
Dometic Group AB
BP PLC
Carriage Services Inc
Cint Group AB
CVS Health Corp
Douglas Finance BV
BPCE SA
Carvana Co
Citigroup Inc
Cyfrowy Polsat SA
Douglas GmbH
Bravida Holding AB
Cary Group AB
CK Hutchison Holdings Ltd
Dai-ichi Life Holdings Inc
Douzone Bizon Co Ltd
Bredband2 AB
Casino Guichard Perrachon SA
Clearway Energy Inc
Daiichi Sankyo Co Ltd
doValue SpA
Bristol-Myers Squibb Co
Castellum AB
Cloudberry Clean Energy ASA
Daimler AG
Drax Group PLC
British American Tobacco PLC
Catalent Pharma Solutions Inc
CMS Energy Corp
Daiwa House Industry Co Ltd
DSV A/S
Brother Industries Ltd
Caterpillar Inc
CNX Midstream Partners LP / CNX 
Midstream Finance Corp
Danfoss A/S
Duell Yhtiot Oy
Buckeye Partners LP
CBR Fashion Finance BV
Codemill AB
Danone SA
Dufry One BV
Budweiser Brewing Co APAC Ltd
CD Projekt SA
Colgate-Palmolive Co
Danske Bank A/S
Ebbainvest AS
Bufab AB
Centene Corp
Coloplast A/S
Daqo New Energy Corp
Ecit AS
Burger King France SAS
Central Automotive Products Ltd
Commercial Metals Co
DaVita Inc
ECO Animal Health Ltd
Buzzi Unicem SpA
Cerner Corp
Compusoft AS
Deere & Co
Ecoclime Group AB
BW Energy Ltd
CF Industries Holdings Inc
Comstock Resources Inc
Delta Electronics Inc
EDP - Energias de Portugal SA
BWAY Corp
Cheerwin Group Ltd
Concentric AB
Demant A/S
Edwards Lifesciences Corp
C&S Group Enterprises LLC
Chemometec A/S
Container Corp Of India Ltd
DeNA Co Ltd
Eidsiva Energi AS
Cable One Inc
Chemours Co/The
ContourGlobal PLC
Dermapharm AG
El Corte Ingles SA
Cadeler A/S
Cheniere Energy Partners LP
Core Laboratories NV
Desenio Group AB
Electrocomponents PLC
Caisse Federale de Credit Mutuel
Cheplapharm Arzneimittel GmbH
Corem Property Group AB
Detsky Mir PJSC
Electrolux AB
Caixa Geral de Depositos SA
China Conch Venture Holdings Ltd
Coty Inc
Deutsche Pfandbriefbank AG
Eli Lilly & Co
Cajamar Caja Rural SCC
China Merchants Bank Co Ltd
Country Garden Services Holdings Co 
Ltd
Dexcom Inc
Elior Group SA
Cambia Holding AS
China Resources Gas Group Ltd
Coventry Building Society
Dfds A/S
Elkem ASA
Canopy Holdings AS
China State Construction International 
Co Ltd
C-RAD AB
Diageo PLC
Elliptic Laboratories AS
CAN-PACK SA
China Tourism Group Duty Free Corp 
Ltd
Crayon Group Holding ASA
Dick's Sporting Goods Inc
ELM BV
Carasent ASA
Chr Hansen Holding A/S
Credit Mutuel Arkea SA
Digital Workforce Services Oy
Elopak ASA
Cardinal Health Inc
Chroma ATE Inc
CRH PLC
Dino Polska SA
Embracer Group AB
Cargotec Oyj
CHS/Community Health Systems Inc
Croda International PLC
Dios Fastigheter AB
Emils Karhus AB
Carlisle Cos Inc
Cie de Saint-Gobain
Crompton Greaves Consumer 
Electricals Ltd
Direct Line Group Ltd
EnBW Energie Baden-Wuerttemberg 
AG
Engagement by company

44
Endo International PLC
FLSmidth & Co A/S
Godrej Agrovet Ltd
Heineken NV
IMINT Image Intelligence AB
ENEL RUSSIA PJSC
Flyr AS
Gram Car Carriers Holdings Pte Ltd
Hemnet Group AB
Incap Oyj
ENEOS Holdings Inc
Foodco Bondco SA
Graphic Packaging International Corp
Hexagon AB
Indutrade AB
Energizer Holdings Inc
FormPipe Software AB
Green Minerals AS
Hexion Inc
Ineos Group Holdings Ltd
Enigmo Inc
Fortinova Fastigheter AB
GreenMantra Recycling Technologies 
Ltd
Hindustan Unilever Ltd
Infobric AB
Entra Eiendom AS
Fortum Oyj
Grieg Seafood ASA
HOCHTIEF AG
Infosys Ltd
Epiroc AB
Fractal Design Corp
Grifols SA
Holcim Capital Corp Ltd
Ingles Markets Inc
EQT AB
Fremtind Forsikring AS
Group 1 Automotive Inc
Hologic Inc
Innophos Inc
Equinix Inc
Fresh Market Inc/The
Gruenenthal GmbH
Hon Hai Precision Industry Co Ltd
Instalco AB
Equinor ASA
Fresh Water Norway AS
Grupo Aeroportuario del Centro Norte
SAB de CV
Honda Motor Co Ltd
Intel Corp
Ericsson AB
Froy Asa
GT Capital Holdings Inc
Horizon Therapeutics Plc
Inter RAO UES PJSC
Erste Group Bank AG
F-Secure Oyj
Guala Closures SpA
Hornbach Baumarkt AG
International Consolidated Airlines 
Group SA
Essential Utilities Inc
Fukuoka Financial Group Inc
Gujarat Gas Ltd
Housing Development Finance Corp Ltd International Design Group SPA
Essity AB
Futu Holdings Ltd
H & M Hennes & Mauritz AB
HT Troplast GmbH
International Flavors & Fragrances Inc
Euronav NV
Future Corp
H&R Block Inc
Hua Hong Semiconductor Co Ltd
Interpublic Group of Cos Inc/The
European Energy A/S
Galapagos NV
H+H International A/S
Hufvudstaden AB
Intertek Group PLC
Evotec International GmbH
Gap Inc/The
Hafslund E-Co AS
Huhtamaki Oyj
Intesa Sanpaolo SpA
Evraz PLC
Garmin Ltd
Hamakyorex Co Ltd
Humble Group AB
Intrum A/S
EXACT Therapeutics AS
Gazprom PJSC
Hanesbrands Inc
Hurtigruten AS
Ionis Pharmaceuticals Inc
Exel Composites Oyj
GDS Holdings US Inc
Hangzhou Hikvision Digital Technology 
Co Ltd
Husqvarna AB
Ipsen SA
Experian PLC
Genmab A/S
Hangzhou Tigermed Consulting Co Ltd Iberdrola SA
IQVIA Inc
Exsitec Holding AB
Genovis AB
Hapag-Lloyd AG
ICA Gruppen AB
Isabel Marant Diffusion SAS
Exxon Mobil Corp
Geoquip Marine Holding AG
Harvey Norman Holdings Ltd
Iccrea Banca SpA
ISS A/S
Fair Isaac Corp
Getinge AB
Haugaland Kraft AS
ICE Group AS
I-Tech AB
Fasadgruppen Group AB
GHP Specialty Care AB
Havfram Holding AS
Iceland Bondco PLC
Ivanhoe Mines Ltd
Fastighets AB Balder
GHS Holding ApS
HB Fuller Co
ICICI Bank Ltd
Jaguar Land Rover Automotive PLC
Ferroamp Elektronik AB
Givaudan SA
HCA Healthcare Inc
Iconovo AB
Japan Wool Textile Co Ltd/The
Fidelity National Financial Inc
Gjensidige Forsikring ASA
HeadHunter Group PLC
Idun Industrier AB
Jazz Pharmaceuticals PLC
Finnair Oyj
GlaxoSmithKline PLC
HealthEquity Inc
IGM Biosciences Inc
JFE Holdings Inc
Fjordkraft Holding ASA
GN Store Nord AS
Heimstaden Bostad AB
IMI PLC
Jinyu Bio-Technology Co Ltd
Engagement by company

45
Johnson & Johnson
Komplett ASA
Lintec Corp
Medicover AB
Mowi ASA
Johnson Matthey PLC
Kone Oyj
Lithia Motors Inc
Medistim ASA
Mphasis Ltd
Jotun A/S
Konecranes Oyj
Littelfuse Inc
MEDNAX Inc
MSCI Inc
Judges Scientific PLC
Kongsberg Gruppen ASA
Logo Yazilim Sanayi Ve Ticaret AS
Medtronic PLC
MTG Holding AB
Jyske Bank A/S
Koninklijke Ahold Delhaize NV
London Stock Exchange Group PLC
Meituan
Munich Re America Corp
K+S AG
Koninklijke DSM NV
LONGi Green Energy Technology Co Ltd Mekonomen AB
Musti Group Nordic Oy
Kahoot! ASA
Kotak Mahindra Bank Ltd
Lonza Group AG
Meltwater Holding NV
Mutandis SCA
Kamigumi Co Ltd
KPN Telecom BV
Lowell Financial Services GmbH
Mercell Holding ASA
Mytilineos SA
Kao Corp
Kraton Corp
LUKOIL PJSC
Merck & Co Inc
Nanofilm Technologies International Ltd
KBC Group NV
Kronos International Inc
Lundin Energy AB
Merck KGaA
NARI Technology Co Ltd
KDDI Corp
K's Holdings Corp
Lyko Group AB
Mereo Biopharma Group PLC
National Grid PLC
Kedrion SpA
Kungsleden AB
Mabuchi Motor Co Ltd
Metso Outotec Oyj
NatWest Markets PLC
Kehe Food Distributors Inc
Kutxabank SA
Macy's Retail Holdings LLC
Mettler-Toledo International Inc
Navamedic ASA
Kemira Oyj
Kweichow Moutai Co Ltd
Magnit PJSC
Michaels Cos Inc/The
NCAB Group AB
Kemppi Oy
Kyowa Kirin Co Ltd
Magnitogorsk Iron & Steel Works PJSC Midsona Sverige AB
Neptune Energy Group Ltd
Kernel AS/Norway
Lagercrantz Group AB
Makalot Industrial Co Ltd
Millicom International Cellular SA
Neste Oyj
Kerry Group PLC
Lamor Corp AB
Mallinckrodt PLC
MIPS AB
Nestle SA
Kewpie Corp
Landsbankinn HF
Mamoura Diversified Global Holding 
PJSC
Mitsubishi Corp
Netcompany A/S
K-fast Holding AB
LANXESS AG
Marks & Spencer PLC
Mitsubishi Motors Corp
NetEase Inc
Kid ASA
LEENO Industrial Inc
Marlowe PLC
Mitsubishi UFJ Financial Group Inc
Netel Group Holding AB
Kinden Corp
Lemonsoft Oyj
Marubeni Corp
Mitsui & Co Ltd
Network International LLC
Kindred Group PLC
Leroy Seafood Group ASA
Masoval AS
MMC Norilsk Nickel PJSC
Nexam Chemical Holding AB
Kinsale Capital Group Inc
LG Chem Ltd
MasTec Inc
Mobile World Investment Corp
Nibe Industrier AB
Kjell Midco AB
Lifco AB
Matador Resources Co
MOBLY SA
Nichias Corp
Klaveness Combination Carriers ASA
LifePoint Health Inc
Matalan Finance PLC
Modulight Oy
Nichirei Corp
Kleopatra Holdings 1 SCA
Lincoln Electric Holdings Inc
Maxeda DIY Holding BV
MOL Hungarian Oil & Gas PLC
Nidda Healthcare Holding GmbH
Klockner Pentaplast Ltd
Lindab AB
MBCC Group
Mondelez International Inc
Nihon Unisys Ltd
Koh Young Technology Inc
Linde AG
Mebuki Financial Group Inc
Mondi PLC
Nimbus Boats AB
Kohl's Corp
Link Abstract LP
Medcap AB
Monitchem HoldCo 2 SA
Nippo Corp
Kojamo Oyj
LINK Mobility Group Holding ASA
Media and Games Invest SE
Morningstar Inc
Nippon Light Metal Holdings Co Ltd
Engagement by company

46
Nippon Steel Corp
NP3 Fastigheter AB
Pareto Bank ASA
Puuilo Oyj
Rugvista Group AB
Nippon Suisan Kaisha Ltd
NRC Group ASA
Pattern Energy Group LLC
QleanAir AB
RWE AG
Nippon Telegraph & Telephone Corp
NRG Energy Inc
Penske Automotive Group Inc
QT Group Oyj
Rystad Energy AS
Nixu Oyj
Nyfosa AB
Pexip Holding ASA
QVC Inc
S&P Global Inc
NKT A/S
Nykode Therapeutics AS
Pfleiderer Group SA
Rabobank International/Amsterdam
Salmar ASA
Nobel Bidco BV
Nykredit Realkredit AS
Pharmaceutical Product Development 
LLC
Rana Gruber AS
Salmon Evolution AS
Nokian Renkaat Oyj
Obayashi Corp
Phoenix Pharma SE
Randviken Fastigheter AB
Samhallsbyggnadsbolaget i Norden AB
Nolato AB
OBOS BBL
Physitrack PLC
Range Resources Corp
Sampo Oyj
Nomad Foods Bondco PLC
Ocean Yield ASA
Picard Surgeles SAS
RAO Norilsk Nickel OJSC
Samsung Electronics Co Ltd
Nomura Holdings Inc
OCI Co Ltd
Ping An Insurance Group Co of China 
Ltd
Ratos AB
Samsung Engineering Co Ltd
Nordea Bank Abp
Odfjell SE
Pioneer Natural Resources Co
Reach Subsea ASA
Sandvik AB
Nordhealth AS
OI European Group BV
Piramal Enterprises Ltd
Redsense Medical AB
Sankyo Co Ltd
Nordic Semiconductor ASA
OKEA ASA
PKO Bp Bankowy Powszechne 
Towarzystwo Emerytalne SA
Refresco Group BV
Sankyu Inc
Nordic Waterproofing Holding A/S
Olin Corp
Platzer Fastigheter Holding AB
Renewable Energy Group Inc
Sanofi
Nordstrom Inc
OMA
Plejd AB
ResMed Corp
Sanoma Oyj
NorgesGruppen ASA
Oncoinvent AS
Polski Koncern Naftowy ORLEN SA
Restaurant Brands International LP
Santander Consumer Bank AS
Norse Atlantic ASA
Ono Pharmaceutical Co Ltd
Polygiene AB
Revenio Group Oyj
Sappi Ltd
Norsk Hydro ASA
Organon & Co
Polymetal JSC
Rexel SA
SATS ASA
Norsk Titanium AS
Oriflame Holding AG
Polyus PJSC
Rinnai Corp
Sbanken ASA
Norske Skog ASA
ORIX Corp
Poya International Co Ltd
Rio Tinto PLC
SBB i Norden AB
Northern Oil and Gas Inc
Orkla ASA
Procter & Gamble Co/The
Risk Intelligence A/S
Sberbank of Russia PJSC
Nortura SA
Orsted AS
Profoto AB
Rite Aid Corp
Scatec ASA
Norwegian Property ASA
Orthex Oyj
Pro-Gest SpA
Roche Holding AG
Schoeller Packaging BV
Nouryon Holding BV
Ossur HF
ProGroup AG
Rockwell Automation Inc
Sdiptech AB
Novartis AG
Otis Worldwide Corp
Proximar Seafood AS
ROCKWOOL International A/S
Seafire AB
Novatek PJSC
Outokumpu Oyj
Prudential PLC
Rohto Pharmaceutical Co Ltd
Seaway 7 ASA
Novelda AS
OX2 AB
Public Power Corp SA
Rosneft Oil Co PJSC
Seche Environnement SA
Novelis Inc
Pacific Basin Shipping Ltd
PulteGroup Inc
Rossini Acquisition Sarl
Sectra Sverige AB
Novo Nordisk A/S
Pacific Industrial Co Ltd
Punch Finance PLC
Royal Dutch Shell PLC
Securitas AB
Novozymes A/S
Pandora A/S
Puregold Price Club Inc
Royal Unibrew A/S
Seiren Co Ltd
Engagement by company

47
Sequoia Logistica e Transportes SA
Smarteye Sarl
Storebrand ASA
Tele2 AB
Trane Inc
Service Corp International PLC
Smartoptics Group AS
Storebrand Bank ASA
Teleflex Inc
Transocean Ltd
Seven & i Holdings Co Ltd
Snam SpA
StormGeo Holding AS
Telenor ASA
Traton SE
Severstal Group Holdings
Snap-on Inc
Storskogen Group AB
Telia Co AB
TRE Kronor Property Investment AB
SGL Carbon SE
Societe Generale SA
Straumann Holding AG
Tencent Holdings Ltd
Trelleborg AB
SGL TransGroup International A/S
Sogn og Fjordane Energi AS
Sumitomo Corp
Tenet Healthcare Corp
Trianon Rosengard Centrum AB
SGS SA
Sohgo Security Services Co Ltd
Sumitomo Heavy Industries Ltd
Teollisuuden Voima Oyj
Triodos Bank NV
Shanghai Jinjiang International Hotels 
Co Ltd
Sojitz Corp
Sundrug Co Ltd
Teqnion AB
Trivium Packaging Finance BV
Shenzhen Mindray Bio-Medical 
Electronics Co Ltd
Solaris Midstream Holdings LLC
Sungrow Power Supply Co Ltd
Teradyne Inc
Tronox Holdings PLC
Shenzhou International Group Holdings 
Ltd
Solvay SA
Surgical Science Sweden AB
Tereos EU NV
Tryg A/S
Shimizu Corp
Sonic Automotive Inc
Suzuken Co Ltd/Aichi Japan
Terna - Rete Elettrica Nazionale
Tyler Technologies Inc
Shinnihon Corp
Sony Group Corp
Svenska Handelsbanken AB
Terreno Realty Corp
Ube Industries Ltd
Shionogi & Co Ltd
Sparbanken Skane AB
Swedbank AB
Tesco PLC
UBS AG
Siam Cement PCL/The
SpareBank 1 Nord Norge
Swedbank Robur Fonder AB
Teva Pharmaceutical Finance Co BV
UCB SA
Siemens AG
Sparebank 1 Oestlandet
SwedenCare AB
Texas Instruments Inc
Ultimovacs ASA
Siemens Gamesa Renewable Energy 
SA
SpareBank 1 SMN
Swisscom AG
Thule AB
UltraTech Cement Ltd
Sievi Capital Oyj
SpareBank 1 SR-Bank ASA
Symrise AG
Thunderful AB
UNFI Canada Inc
SIG Combibloc Group AG
Sparebanken Vest
Syneos Health Inc
Tinkoff Bank JSC
Unilever PLC
Sika AG
SPCM SA
Synthomer PLC
T-Mobile US Inc
Uniphar PLC
Sikri Holding AS
Spinnova Oyj
Taisei Corp
Tokio Marine Holdings Inc
United Parcel Service Co
Silicon Valley Bank
Spirax-Sarco Engineering PLC
Taiwan Semiconductor Manufacturing 
Co Ltd
Tokmanni Oy
United States Steel Corp
Sinbon Electronics Co Ltd
Sporton International Inc
Takashimaya Co Ltd
Tokyo Tatemono Co Ltd
Universal Health Services Inc
Sinch AB
SSAB AB
Takeda Pharmaceutical Co Ltd
TOMRA Systems ASA
Upfield BV
Sistema PJSFC
Standard & Poor's Corp
Talenom Oyj
Topdanmark AS
UPM-Kymmene Oyj
Sizzling Platter LLC
Stellantis NV
Tallgrass Energy Partners LP / 
Tallgrass Energy Finance Corp
TOPPAN INC
Uponor Oyj
Skandinaviska Enskilda Banken AB
Stenhus Fastigheter I Norden AB
Tata Consultancy Services Ltd
TotalEnergies SE
Upsales Technology AB
Skanska AB
STERIS PLC
Tatneft PJSC
TOTVS SA
US Foods Inc
SKF AB
Stillfront Group AB
TDK Corp
Toyo Suisan Kaisha Ltd
Valmet Oyj
Skyworks Solutions Inc
Stonegate Pub Co Financing 2019 PLC Techstep ASA
Toyota Boshoku Corp
Vantage Towers AG
SmartCraft ASA
Stora Enso Oyj
TEGNA Inc
Toyota Industries Corp
Varbergs Sparbank AB
Engagement by company

48
Vattenfall AB
Yamada Holdings Co Ltd
Veeva Systems Inc
Yara International ASA
Veidekke ASA
YIT PLC
Venustech Group Inc
Yum China Holdings Inc
VERBIO Vereinigte BioEnergie AG
Yunnan Energy New Material Co Ltd
Verkkokauppa.com Oyj
Zealand Pharma A/S
Vestas Wind Systems A/S
Zurich Insurance Group AG
Vestum AB
Zutec Holding AB
Viatris Inc
Victoria's Secret & Co
Vimian Group AB
Visolit AS
Vitec Software Group AB
VNV Global AB
Volkswagen AG
Volvo Car AB
Vow ASA
Walmart Inc
Wanhua Chemical Group Co Ltd
Washington Federal Inc
WD-40 Co
Weatherford International Holding Bermuda Ltd
Webuild SpA
WEPA Hygieneprodukte GmbH
Western Midstream Operating LP
WH Group Ltd
Wheel Bidco Ltd
Xiabuxiabu Catering Management China Holdings Co Ltd
Xshore AB
Xvivo Perfusion AB
Engagement by company