The Week in Green – August 24th Edition

    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).

    At SEB, Chief Strategist Johan Javeus comments on the positive effects on the expansion of online food retail. Meanwhile, Forbes tells us why socially reponsible investing skepticism is healthy.

    Famous Last Words

    “It was always going to be difficult for us – Homo sapiens – to deal with the long-term, slow-burning problems that threaten us today: climate change, population growth, increasing environmental toxicity, and the impact of all these three on the future ability to feed the 11 billion people projected for 2100. Our main disadvantage is that our species has developed over the last few hundred thousand years not to address this kind of long-term, slow-burning issue, but to stay alive and well-fed today and perhaps tomorrow. Beyond that we have a history of responding well only to more immediate and tangible threats like war.” says Jeremy Grantham in a newly published white paper entitled The Race of Our Lives Revisited
    Until next week, farewell, fellow Homo Sapiens!
    Your NordSIP team
    Picture © 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.

    Latest Posts

    NordSIP Insights Handbook

    What else is new?