Excessive Pay, Progress Awards and Swedish Sewage
This week, we report how Infracapital, a part of M&G Investments, the European arm of London’s Prudential plc., closed its greenfield infrastructure fund at a considerable sum due in part to the investment from major Swedish institutional investors. Concurrently, AP7, the Swedish national pension fund, is positioning investment and warning of a problem, together with SPP, with Sweden’s water and sewage network, something which could be addressed with private investments despite political opposition. Also in Sweden, Skandia has recruited the current Special Advisor to Sustainable Business at the Swedish Ministry of Finance Helena Hagberg to become its new head of sustainability. Skandia is in the process of recruiting ESG analysts more broadly. PensionDanmark and Alecta won awards at IPE’s (Investment and Pensions Europe) annual awards, with juries rewarding both for forward-looking strategies, while an event was held in Ireland to help spread “Nordic Solutions.” Meanwhile, in Norway, the Sovereign Wealth Fund is making moves to curb excessive management pay (NordSIP).
Heard on E-Street
Robert Soós looks at why adding ESG focus to investing can lead to higher returns, (Born2invest). Following the showcasing of the European Investment Plan for sustainable development at the AU-EU Summit in Cote D’Ivoire this week, Vince Chadwick of Devex has a look at how to engage the plan (Devex). Shell is pledging to cut its carbon footprint in half by 2050, with a reduction goal of 20% by 2035 (Axios).
Quote of the Week
“It will take an estimated $5-7 trillion per year over the next 15 years to solve climate change. Closing the gap is the most important thing an environmental CEO like me can focus on” – Mark Tercek – President, CEO of the Nature Conservancy, and author of “Nature’s Fortune” in an op-ed on how to catalyse private investment in sustainability (Forbes/HuffPo).
Question of the Week
Which Finnish company was named the best environmental performer in the country and among the best in Europe by CDP?
Famous Last Words
“Now they [millennial investors] can align their investment portfolio with their investment values. Young people are making those views felt. They have a different attitude towards money.” – Matthew Koch, executive director of Morgan Stanley Wealth Management, explains how younger people are influencing their parents to get serious (Financial Review).
Indeed. Enjoy the family downtime this weekend.
Your NordSIP team
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