The Week in Green

    May 24th Edition

    Liquid Additionality & Analytical Ingredients

    Stockholm (NordSIP) – Following up on our thoughts about additionality, this week we wrote about our conversation with Rupert Welchman from Geneva-headquartered private bank and asset manager Union Bancaire Privée (UBP). Together with Victoria Leggett, he manages the UBP Positive Impact Equity strateg and as he explains, additionality in the context of selecting stocks can be seen in a slightly different way. He also makes a point about the significant effect public markets can have on the cost of capital.

    Meanwhile, NordSIP came back from London where we attended Schroders‘ European ESG Media Conference and learned more about the firm’s proprietary sustainable data and analytic tools: CONTEXT, SustainEX and a Carbon Value-at-Risk (VaR) model.

    Also in the UK, the local CFA Society launched a long- awaited ESG Certificate, to help managers and analysts catch up on ESG integration education. Nasdaq launched an upated ESG reporting guide to help public and private companies navigate the evolving standards on ESG data disclosure, regardless of geography or market capitalization. This new guide expands the scope of an earlier report published in 2017, which focused mostly on the Nordics and the Baltics.

    Back in Stockholm, we found out that Kerim Kaskal, who just left his position of acting CIO at AP3 (to be replaced by Pablo Bendango), is joining Worthwhile Capital Partners, a firm recently founded by Christian Andersson, which is dedicated to helping sustainable managers raise capital in the Nordics.

    Last but not least, Nordea was behind the launch of the first ever hybrid sustainability bond in the Nordics. Shortly thereafter, together with Nordea jointly ran the book for a SEK callable senior unsecured green floating rate bond issued by Millicom, together with DNB. We took a closer look at these two issues with Nordea‘s Anna Reuterskiöld to understand how these more complex structures pave the way for an expansion of the labelled bond market to a larger number of issuers.

    Who will march for climat today? Would you rather find out how to offset your carbon footprint?

    Happy weekend!

    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?