Stockholm (NordSIP) – SPP, the Swedish Insurance and Pension Company, has joined forces with Fossilfrit Sverige (“Fossil Free Sweden”), a Swedish government initiative launched prior to the 2015 Paris climate summit with the objective of making Sweden completely free of fossil fuels by 2045.
The initiative currently counts over 200 companies, municipalities and organizations working towards accelerating change across all social sectors.
“SPP has long worked to reduced fossil dependence, both in our own business and through investments,” said Johanna Landberg, Sustainability Manager at SPP, in a press release. “Taking the step of joining forces with Fossilfrit Sverige therefore feels completely natural and par for the course for us.”
Fossilfrit Sverige also functions as a platform intended to promote national efforts to make Sweden one of the world’s first fossil-free welfare countries.
“We think this is an important investment and we are happy to contribute with our expertise in the financial sector. In addition, if we manage to enlighten consumers as to the difference they can make by, for example, choosing a portfolio with lower fossil exposure, we are coming a long way,” Ms Landberg said.
SPP has attracted over SEK 10 billion since the launch of its PLUS concept last year, which is comprised of fossil-free funds.
The PLUS concept includes the SPP Growth Market Plus, SPP Global Plus and SPP Sverige Plus funds. The funds, which are suitable for investors wanting fossil-free, index-based equity funds with low fees, are index-intensive while integrating sustainability variables and declining investments in companies that extract or distribute fossil fuels, or in companies with large fossil reserves. The funds also negatively screen those companies with the highest fossil footprints and invest more in companies with low fossil footprints and high sustainability, in what SPP calls “sustainability optimization.”
Read more about SPP’s funds here.
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