Fine Lines and Careful Words
This week came the deadline to comment on the European Commission‘s legislation proposal adopted in May, entitled Institutional investors’ and asset managers’ duties regarding sustainability. We take a closer look at the comments, and particularly those from Nordic-based organisations which have stayed oddly quiet, since we only counted three. Most of the critics warned against a rigid taxonomy and rules that could actually prevent sustainable investment initiatives, instead of encouraging expansion into ESG.
As we know, sustainabiliyt is all about fine lines, and we explore an interesting case with Jamie Jenkins, Head of Responsible Global Equities at BMO Global Asset Management. He explains why Amazon makes it into his portfolio, while an ESG-darling for many other funds doesn’t.
Meanwhile, we also catch up with Lars Mac Key from Danske Bank. He shares numbers on the growing SEK Green Bond market and tells us why the Nordics have become so attractive for international organisations seeking green financing.
Heard on E-Street
In Sweden, AP2 reported that it has shrunk its carbon footprint by a third since January. The European Commission managed to irritate the German pension body over another proposal to introduce new rules regarding pension funds’ integration of ESG criteria in investment decision-making. Elsewhere, APG, CalSTRS and ADIA back Capital Dynamics‘ Renewables Fund (IPE).