Political involvement and lobbying

The Sampo Group Code of Conduct sets the overall guiding principles on political involvement and lobbying within Sampo Group. The Code of Conduct is reviewed annually and approved by Sampo’s Board of Directors.

Sampo Group employees have the right to participate in political activities and may volunteer their own time and resources to support the candidates and political parties of their choice. However, these activities must in no way suggest that the Group is supporting or financing the political candidate or party in question.

Sampo Group supports the transparency and integrity of lobbying practices. The aim is to openly declare the company’s business interests and to prevent any conflict of such practices with Sampo Group’s principles, public international conventions that the company supports (e.g. ILO, OECD, Paris Agreement) or Sampo Group’s commitments (e.g. UN Global Compact, UN PRI). This is ensured, for example, with policies (e.g. Code of Conduct), internal guidelines, and training.

Sampo Group may engage either directly or indirectly with policymakers on relevant topics. All activities influencing policy must also be aligned with the Group’s principles and public commitments. Contributions on political involvement and lobbying are reported internally annually as well as according to local legislative requirements.

Sampo Group is a member of industry associations such as Finance Finland, the Confederation of Finnish Industries, Insurance Sweden, Finance Norway, Insurance and Pension Denmark, and the Association of British Insurers. The Group seeks to influence policy and legislation, for example, the EU Sustainable Finance Action Plan, Solvency II, and national legislation, primarily through active participation in the work of industry association committees and working groups. In addition, the committees and working groups provide a possibility to share knowledge and experiences regarding topics, such as climate change adaptation, loss prevention, risk management, health, and safety. The activities of industry associations are ultimately managed by their governing bodies and committees where Sampo Group ensures sufficient representation and, thus, monitoring of the lobbying activities. Each Group company has its own processes and management systems to ensure that engagement through trade associations is aligned with the Sampo Group Code of Conduct and its underlying principles such as the UN Global Compact and the Paris Agreement.