Last week Norwegian insurance and pensions giant Storebrand and its Swedish subsidiary SPP sent letters to all its external manager with new sustainability-related demands. All external asset managers now have to adopt the Paris Agreement's net-zero emissions goal to manage money for the Nordic firm. They also need to implement clear shorter-term goals for reducing emissions in their portfolio.
Storebrand has SEK 1,000bn (EUR 99.2bn) in assets under management. At the Swedish subsidiary, 60 external partners managing SEK 38bn (EUR 3.77bn) are now expected to follow these demands, SPP Head of Sustainability Johanna Lundgren Gestlöf tells AMWatch.
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