Stockholm (NordSIP) – Topdanmark, a Danish insurance and pension company, has announced it hired Andreas Stang as ESG investment manager. Stang leaves PFA Asset Management, where he was a Senior Portfolio Manager and the Head of ESG.
Stang will start working at Topdanmark on September 1st where he will be part of the investment team with responsibilities for sustainability and accountability in investments as well as managing ESG portfolios.
Henrik Thornval, director at Topdanmark, praised Stang’s skills and analytical mind as well as his experience working with sustainability and responsible investments, partnering with some of Denmark’s largest asset managers.
“Topdanmark wants to contribute to responsible societies and sustainable development. We have chosen to do this by integrating ESG factors into the investment decision itself and only accepting to invest in companies that are both economically sound and exhibit robust ESG performance,” Thornval said.
Discussing the company’s focus on ESG, Thornval also noted that customers have expressed a significant interest in avoiding companies that destroy the environment, grossly exploit employees and everything else that is ESG analysis uncovers.
As a result of its current focus on responsible investments, Topdanmark has opted-out of companies that do not live up to several exclusion criteria. Exclusions focus on environmental impact, ethics and human rights, as well as conformity with international norms such as laid out in the UN Global Compact and the Paris Agreement.
In February 2020, Topdanmark launched Formålspension, in which no investment is made in fossil fuels or raw material extraction outside industrialised countries. Moreover, 20% of the savings targeted a self-chosen purpose, such as the green transition. Topdanmark aims to be CO2-neutral by 2030. Concomitantly, the firm also aims to make 20% of the investments in Topdanmark Livsforsikring green in the same year.
“If you really want to integrate ESG, then it is important that the function be located where you make your investments, and that you are consistent in choosing the right companies, sectors or countries to invest in. I have been given a unique opportunity to become a part of Topdanmark. Topdanmark has shown that it is ready to think about sustainability and responsibility even more broadly and more systematically in, for example, the investment processes. I am very much looking forward to contributing to this with the competencies I have built up in the area,” says Stang.
Image courtesy of Topdanmark