Happy Holidays in Green!

Before we retire temporarily during the holidays, we would like to leave you with this week’s highlights. We will take a break until we come back in force on January 8.

Is shorting an unethical investment practice? Long/short hedge fund managers Stefan Gavelin (Adrigo), James Clunie (Jupiter AM), Alex Tselentis (Finex) and Jarle Birkeland (Alchemy) give varying responses and philosophies in the brand new report on Equity Hedge Fund Strategies from NordSIP sister publication HedgeNordic. Finland is to invest €114 million in a new joint fund with the International Finance Corporation to support climate, renewable and clean energy projects in developing countries. Swedish construction and development company Skanska has sold its investment in the Mullberg wind farm to Persson Invest. A new PRI report has found that investment consultants are failing to sufficiently consider ESG issues in investment practices, while a Global Green Finance Index is to launch in 2018 (NordSIP).

Heard on E-Street

A conference on sustainable finance, ‘Hållbara Finanser’, will be held in Stockholm on January 31st 2018. The conference will feature Storebrand CEO Jan Erik Saugestad, Alecta CEO Magnus Billing, and ISS chief of RI strategies Ulrika Hasselgren, among other notables. The World Bank has made a historic pledge to stop financing oil and gas exploration, announcing that it will stop financing upstream oil and gas operations from 2019 to boost its contribution to implementing the Paris Accord. The investment world has changed, UBS CIO Mark Haefele told Management Today: investors must consider social responsibility when making investments. An unremarkable statement, as author Arun Kakar suggests, other than the fact that Haefele is a disciple of Milton Friedman’s creed of shareholder value (Management Today).

Quote of the Week

“A plus-4C world is not insurable”AXA CEO Thomas Buberl, announcing a quadrupling of the insurance giant’s green investment target fro $3.53 billion to $14.13 billion, an acceleration twice as high as the recommendation made by former UNFCC executive secretary Christiana Figures (Greenbiz).

Question of the Week

Which Swedish insurance and pension company attracted over SEK 10 billion in under a year to its fossil-free fund range offering?

Famous Last Words

The famous last words this week, dear reader, are yours. At the end of our first year, NordSIP would like to hear your opinions in this survey. In the spirit of Christmas we hope that you will lend us just a couple of minutes of your precious time in return for improved and more relevant content next year!

Wishing you a wonderful Christmas and every success in the New Year,

Your NordSIP team

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