Responsible Corporate Tax has become one of the high ESG priorities among institutional investors in the Nordic countries. Pension funds, municipalities alongside politicians have made it clear that tax havens and aggressive tax planning without sound operational reasons are controversial and unacceptable. Further pressure on public finances in the wake of the COVID-19 pandemic has accentuated this stance. But how do investors analyze and evaluate if specific companies meet not only hard tax law but also widely accepted principles for responsible corporate tax payment as laid out by OECD, EU etc., and how do they most prudently conduct the responsible tax dialogue with the investee companies?

Responsible tax due diligence regarding private equity investments is a.o. covered by the Danish “Tax Code of Conduct” adopted by a range of large Danish pension funds, foundations and associations. But equally, listed and liquid investments present analytical and engagement challenges.

Solid methodologies must underpin qualified decisions regarding specific potential investments as well as maintaining an investee company in a portfolio. We have invited two tax consultants from EY, Hans From and Lars Andersen, to present their model for quantitative analysis of tax issues related to reputational risk. They will present a systematic methodology to shed light on the tax-related challenges and potential reputational risk of an investment. David Frazer, Manager of Engagement Services, Sustainalytics, will share insights on analysing and rating companies on taxation. Finally, CEO Erik Alhoej will present the methodology developed and engagement conducted at Engagement International including challenges and results.

Agenda

14.00 Welcome: Troels Børrild, Head of Responsible Investments, AkademikerPension

14.05 Analysis of Reputational Tax Risk: Hans From, Tax Director, EY, and Lars Andersen, Tax Director, EY

14.25 Tax Controversies – Oversight Mechanisms and Analysis: David Frazer, Manager of Engagement Services, Sustainalytics

14.50 Responsible Corporate Tax Engagement – Methodology and Results: Erik Alhoej, CEO, Engagement International

15.15 Q&A: Moderator: Troels Børrild, Head of Responsible Investments, AkademikerPension

Please register here

The webinar is held by Dansif and is open to members of Dansif, the Danish Finance Society (Finansforeningen), Norsif, Swesif, Finsif and IcelandSIF.

The presentations will be in English and the webinar will be held via Microsoft Teams.