P+ divests 42 fossil fuel companies
Danish pension fund P+ is dropping DKK 458m in investments that it finds to be incompatible with the Paris Agreement.
AMWatch
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Danish pension fund P+ is dropping DKK 458m in investments that it finds to be incompatible with the Paris Agreement.
"Doing all ESG work in-house has prompted us all to really think of all dimensions of ESG also from a very practical point of view," says Esa Saloranta, Director of ESG at eQ Asset Management.
Danske Bank's pension company is investing DKK 1bn (EUR 130m) in an investment offering developed by BlackRock which supports the UN sustainable development goals.
With a new type of project financing, PKA, PenSam and Storebrand's joint investment platform, AIP, will try to find an attractive gap in the force field of tightening competition among lenders and the decreasing availability of subsidies for renewable energy projects.
The Danish infrastructure fund has found a highly experienced group of partners to work with on establishing the upcoming energy isle in the North Sea.
Passively managed funds must be just as sustainable as actively managed funds, says the Danish FSA, after oil was discovered in several index offerings.
Norway's largest asset manager is now launching a tax transparent fossil-free equity strategy in partnership with AMX. The new fund is aimed at European pension fund and Storebrand highlights the fund's importance for its international growth.
Institutional investors CVC Capital Partners, LocalTapiola, Ilmarinen and Varma have been in touch with a Finnish health care chain they own after reports that an autistic child had been mistreated at its facility emerged. AMWatch has spoken to the key investors.
Some Nordic fund managers have so far refrained from declaring any products Article 9. Others have chosen to offer the so-called dark green funds even though the EU Taxonomy is not yet finalized. AMWatch talked to ten of the largest Nordic asset managers about this unresolved issue.
Explaining sustainable investments to private investors is a demanding task, especially as the communication cannot be too general if you want to avoid being accused of greenwashing, says Karin Greve-Isdahl from Storebrand.
The new fund will focus on impact-oriented corporate engagement, active proxy voting and building direct influence with management teams.
Newton Investment Management has appointed the new driver of the firm's global responsible investment plan. She will report directly to CEO Euan Munro.
Nordic banking giant DNB has brought people within investment management, fund selection and portfolio construction together in a new hub to unify its investment offering throughout the organization. "It's all about creating a unit that can develop solutions to clients going forward," the unit's leader Truls Tollefsen tells AMWatch.
As pension companies race to compare the lengths of their exclusion lists, they have forgotten that the only way to make the world a better place is to stay engaged, say professors from Aarhus University, Peter Løchte Jørgensen, and the University of Pennsylvania, Jules van Binbergen.
Allegations have "put DWS squarely in the sights of regulators" and the negative attention hasn't been well received by the firm's top brass.
Danish fund manager Nykredit's sustainable funds are full of companies like Nintendo, Microsoft and Coca-Cola. They might not pollute as much as oil companies – but do they make the world more sustainable?
The Nordics is a very important region in terms of developing sustainable strategies, says the world's largest asset manager. BlackRock's head of Nordics, Elisabeth Sterner, believes that the Nordic perspective can help other regions to invest more sustainably.
Danish pension funds are under fire for their investments – specifically, for offering sustainable pension savings products which are investing in two of the biggest financers of the fossil fuel industry. These two US banks have invested several hundred billion dollars in the fossil fuel industry since the Paris Agreement was signed in 2015.
Danske Bank markets a number of its investment funds as sustainable, despite the fact that they include some of the world's largest oil companies - some of which are working against the green transition. The Danish consumer protection office concludes this borders on misleading marketing.
The Swedish pension fund maintains that it follows the recommendations from the AP-funds' joint Ethical Council but adds that an ongoing analysis of its sustainability work might result in portfolio changes next year.
Over 90 percent of funds in Sweden are Article 8, according to new statistics compiled by EFAMA. The figures also show that five countries house 85 percent of all capital invested in "light green" assets in the EU.
Swedish national pension fund is said to have invested up SEK 1bn (EUR 100m) in 15 blacklisted firms, according to new research by domestic public service media.
Although environmental issues hog most of the spotlight in discussions on ESG, those looking for return potential should also invest in the social component, says eQ Asset Management Portfolio Manager Esa Saloranta. "It's a good idea to stop staring at the ESG score alone," he says.
The founder of Engine No.1, an activist organization, states that simply divesting fossil fuel investments does not help the world's energy consumption become more sustainable. (corrected)
Biennial survey from independent consultancy finds "notable fee reductions" in ESG and impact strategies in particular, with a 14 percent drop in institutional mandates since 2016.
