ESG Services

Permian offers services such as risk management, compliance training and legal advice. We deliver sustainability as a dedicated service area integrated with other deliveries to our clients. Complex regulations affecting investment companies and fund managers, requires attention to detail, interest and experience.

When considering and ranking business risks with our clients, breaches of licence requirements, and otherwise laws and regulations, area among the key risks. Permian assists our clients with the implementation of policies subject to new legislation.

New Regulation

ESG Services

New regulations lay down harmonised rules for financial market participants and financial advisers, on transparency of the integration of sustainability risks and the consideration of adverse sustainability impacts in their processes and the provisions of sustainability-related information, with respect to financial products.

Regulation on sustainable finance
New legislations have been adopted in the EU with regards to Sustainable Finance:
- Disclosure Regulation (SFDR) with EU effective date March 10, 2021
- Taxonomy Regulation with EU Effective date January 1, 2022, and
- Amendments to the AIFMR (the regulation supplementing the directive on alternative investment fund managers) with EU effective date August 1, 2022.
In Norway, the proposed law on Sustainable Finance based on EU regulations is expected to become effective during 2023.
The Transparency Act
The Norwegian act relating to enterprises’ transparency and work on fundamental human rights and decent working conditions (Transparency Act) will enter into force from July 1, 2022.

The Transparency Act requires companies’ openness and work with basic human rights and decent working conditions, and shall ensure the public’s access to information on how the company handles negative consequences for basic human rights and decent working conditions.

The Transparency Act applies to larger enterprises that are registered in Norway and that offer goods and services in or outside Norway. The Act also applies to larger foreign enterprises that offer goods and services in Norway, and that are liable to tax to Norway pursuant to internal Norwegian legislation.

For the purpose of this act larger enterprises are those that separately or on consolidated level meet two of the three criterias below:
1. sales revenue: NOK 70 million,
2. balance sheet total: NOK 35 million
3. average no. of employees during the financial year: 50 man-labour years.
Permian can assist in implementing policies to ensure compliance.
Update on sustainable finance

We regularly post updates on sustainable finance - see NEWS

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Expert Knowledge on the SFDR Implementation

ESG Services

Permian is a leading Nordic fund administrator which offers a complete set of business support services designed for funds, fund managers, investment firms, family offices, trusts and associations. Our clients may focus on green finance, impact investment and sustainable finance and some of our clients does not actively promote sustainable finance.

The EU SFDR is effective for our Swedish clients. It is also applicable to those of our Norwegian clients that market a fund in the EU. We have gained experience with assisting our clients with understanding the new legislation, discussing policies, procedures and frameworks.

First step to implement SFDR and the taxonomy is choice of sustainability profile, investment process and fundraising. It is required to divide the products into categories based on the integration and weighting of ESG and sustainability in the investment business.

Permian can also support your work with the SFDR Statement, which is to be published on web.

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Regulatory Disclosures and Periodic ESG Reporting

ESG Services

Permian can help you understand the complex regulations and also work together with you through a practical approach for implementation. To meet the requirements, the manager must categorise its funds from a sustainable perspective and prepare disclosures based on such categorisation. Disclosures should be made on website, in pre-contractual information and in periodic reporting. This also means that managers who marked funds with a sustainable focus mus obtain information from the portfolio companies during the ownership period.

Compliance with the rules must be included in the compliance- and internal control systems, including plans and control measures that are appropriate.

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ESG Compliance Services

ESG Services

To stay up to date on the regulations affecting investment companies and fund managers is difficult and requires attention to detail, interest and experience. With new legislation on ESG, the complexity is increased. When considering and ranking business risks, breaches of licence requirements, law and regulation will be among the important ones. It is not an option not to follow the SDFR and the Taxonomy Regulation, as this may impact financing and business.

Permian facilitates transparency and accountability of ESG disclosures and implementation of Taxonomy Regualtion.

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