The Week in Green (June 1st edition)

on

Impact and Criticism, hand in hand

AP7, the largest pension fund in Sweden, is transferring €290 million from fossil stocks it blacklisted last year to SDG-aligned impact stocks through mandates it has awarded to KBI Global Investors and Impax Asset Management. Storebrand CEO Jan Erik Saugestad is impressed with the growth of Storebrand’s fossil free funds, launched within the last two years, suggesting he has never seen a similar rate of growth.

A white paper from Danske bank & Invesco suggests there is a lack of authenticity in the degree of companies’ claims of ESG integration, which correlates with a report from the Financial Times that 1 in 10 UN PRI signatories don’t take their commitment seriously, pending the publication of an annual audit that will put said signatories on notice.

- Promotion -

In an interview with Mary Jane McQuillen, at Legg Mason‘s US-based asset management affiliate ClearBridge we learned how a sustainability-focused team can survive multiple rounds of M&A thanks to performance. McQuillen shares insights into her firm’s investment process and tells us how sustainability is deeply embedded in her team’s culture

Meanwhile, in Stockholm we also met with Shawn Westcott from Swiss-based BlueOrchard, one of the few funds offering exposure to micro finance. Since a few weeks only, BlueOrchard’s Microfinance fund has been authorised for marketing in Sweden by the Swedish FSA (NordSIP).

Heard on E-Street

26 banks from around the world are developing a Principles for Responsible Banking initiative to align the banking sector with the Paris Agreement and UN SDGs. November is the target date for launch (Sustainabonds). Merrill Lynch is estimating that $600 billion of green bonds from Asian issuers will be available over the next 5 years (IPE). Nao Sustainable Asset Management, the first Spanish manager to manage all funds according to ESG criteria, has been authorized by the Spanish National Securities Market Commission.

Question of the Week

How can America save the world again? It’s simple, really.

Famous Last Words

“I always focus on irresponsible investors and criminals. And I always communicated in their tribal language, so I only showed them self-interest, opportunity and money flows”TBLI chairman Robert Rubinstein, characteristically joking but serious, about dealing with investors who haven’t smelled the coffee yet.

Carrots and sticks. Happy weekend,

Your NordSIP team

Picture © Shutterstock

Partner message

In the midst of a global pandemic, Apple announced one of the corporate world’s most ambitious environmental blueprints – to reduce the climate impact of every Apple device to net zero by 2030. The plan involves cutting 75 per cent of the company’s existing carbon footprint, not only for its own business but also across the manufacturing supply chain and product life cycle.

Learn more

NordSIP Insights

Most read this week

Should SBI Green Bond Investors be Suspicious?

Stockholm (NordSIP) - The State Bank of India is reported to be preparing to loan INR50 billion (US$670 million) to Adani for investment in...