The Week in Green (August 3rd edition)

    Beach Readings

    As we continue to melt under the unprecedented heat, Nordic SRI news dries out, but people move and it is a good time to catch up on research and insights from last quarter’s NordSIP interviews if you missed them. Man Group announced the appointment of Jason Mitchell as co-head of Responsible Investments to support the work of Steven Desmyter. This promotion will allow the firm to expand its offerings in impact, thematic and other ESG-focused products (NordSIP). Mercer’s Global Chair of Responsible Investment, Jane Ambachtsheer has recently joined BNP Paribas as Global Head of Sustainability (IPE).

    In a newly published report, MSCI looks at whether share buybacks hurt shareholder value and find that (spoiler alert) they don’t. Meanwhile, bfinance finds out if all the noise about Japan’s ESG adoption goes beyond governance.

    Elsewhere, we find that Legal & General Investment Management (LGIM) is accused by some of its employees for having a “toxic culture” (Investment Week) while supporting efforts to halt deforestation in Brazil (IPE).

    Last but not least, catch up on the insight delivered by asset owners and asset managers to NordSIP in a collection of interviews published in the last quarter.

    In a first interview, Danish pension PKA’s Pelle Pedersen walks us through what steps he took to improve the integration of sustainability in the pension’s investment process, and a couple of months later, he gives us the reasons why he needs to set off on his own, as he wants to achieve greater impact. Coincidentally, Martin Källström of the Swedish state pension fund AP1, shared how his team engages with managers on ESG, a couple of months before leaving his post for another (HedgeNordic). At the Swedish occupational pension Alecta, Head of Responsible Investment Peter Lööw commented on a recent allocation to a new impact fund as well as a green bonds. Lars Erik Mangset of Norwegian pension manager KLP tells us how he longs for better data.

    On the asset managers side, UBP’s Karine Jesiolowski shows how ESG can open the door to invest emerging market corporate debt. UBS’s Dinah A. Koehler talks about her career, and about the importance of measuring impact scientifically. Rosenberg’s Kathryn McDonald examines how public markets can power up SDGs when using a quantitative approach. Amundi’s Frédéric Hoogveld walks us through his firm’s decarbonisation journey together with AP4, and how it has evolved since then. La Française’s Laurent Jacquier-Laforge reveals the secret sauce to achieve a Zero Carbon strategy. Alfred Berg’s Anita Lindberg looks at SRI with a different pair of glasses. DWS’s Gerold Koch explains the financials of climate risk. Clearbridge’s Mary Jane McQuillen shares how her sustainability-focused team has survived successive M&A activities, thanks to its success. SEB’s Anette Andersson summarises her banks green efforts.

    Have a lovely break, offset your carbon footprint, and don’t forget to send us a post card!

    Warmly yours,

    the NordSIP team


    Picture © NosorogUA – Shutterstock

    Aline Reichenberg Gustafsson, CFA
    Aline Reichenberg Gustafsson, CFA
    Aline Reichenberg Gustafsson, CFA is Editor-in-Chief for NordSIP and Managing Director for Big Green Tree Media. She has 18 years of experience in the asset management industry in Stockholm, London and Geneva, including as a long/short equity hedge fund portfolio manager, and buy-side analyst, but also as CFO and COO in several asset management firms. Aline holds an MBA from Harvard Business School and a License in Economic Sciences from the University of Geneva.

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