Nordic pension funds such as Ilmarinen, Pensam and Varma are examples of institutional investors which in the past 12 months have allocated billions of euros into exchange-traded funds and other index strategies with a bespoke ESG overlay.
Like these three investors, more than half of institutional investors in Europe (55 percent) think the majority of their ESG investments will be held in passive products within the next five years, according to a recent survey by US asset manager Invesco.
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