The Week in Green

The Week in Green (August 18th edition)

Stockholm (NordSIP) – As the summer holiday finally wound to a close in Scandinavia, news trickled in that Denmark’s emerging and frontier markets boutique investment manager Global Evolution has been awarded an A+ grade from the UN PRI, one of only 16% of signatories to achieve this distinction (NordSIP).

A little further North, one of the largest mutual fund managers in Scandinavia, Swedbank Robur, has appointed Eva Axelsson as its new head of sustainability analysis, where she is expected to play a key role (NordSIP), while Swedish Insurance and Pension Company SPP joined forces with Fossilfrit Sverige, which has the objective of making Sweden completely free of fossil fuels by 2045 (NordSIP).

Yet still further north, the think tank Re-Define released a deeply critical report suggesting that Norway’s €829bn Sovereign Wealth Fund is falling short of putting policies on sustainability and climate change into action (Investments & Pensions Europe)

And tacking East, Finnish emerging markets specialist FIM Asset Management has decided to change the statutes and investment orientation of its FIM BRIC+ fund, also resulting in an imminent name change to FIM Emerging Markets ESG (FIM News Release).

Heard on E-Street

 The UN Environmental Programme Financial Initiative will be holding a series of regional round tables in Q3 and Q4 to provide the opportunity for local actors in the sustainable finance community to discuss the latest trends and innovations and share good practice. The European event will be held in Geneva, Switzerland from October 16-18 (UNEP FI). A recent report from Morgan Stanley finds that 86% of Millennials in a recent survey described themselves as interested in sustainable investing (NordSIP), and Devex’s Fatima Arkin takes a highly interesting look at the challenges facing China when balancing its own domestic carbon reductions with implementing these in the countries that are recipients of China’s development aid (Devex) (with thanks to Asian Development Bank Climate Change Specialist Michael Rattinger).

Quote of the Week

“There is nothing Washington can do to stop us” – former NYC Mayor and Chair of the global Task Force on Climate-related Disclosures (TFCD) Michael Bloomberg, referencing the acceleration of efforts by U.S. cities, states, business and citizens in part because of U.S. president Donald Trump’s withdrawal from the Paris Climate Accord. The U.S. is already halfway towards its Paris goal of reducing carbon emissions by at least 26% by 2025 (Guardian).

 Question of the Week

Which Nordic financial giant recently launched a €500 million green bond?

 Famous Last Words

Prominent U.S. business- and political figures are suggesting Trump’s withdrawal of the United States from the Paris Climate Accord is likely to run into serious trouble, among them former vice president Al Gore. “The train has left the station,” Mr. Gore said (NordSIP).

Wishing you a happy weekend,

Your NordSIP team

Kames Capital
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