Unsustainable Faux Pas

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    On September 1, just a few days after welcoming a new Managing Director, Victor van Hoorn, at the helm, Eurosif stirred the European sustainable investment community by publishing a response to the consultation on ESG disclosures (SFDR) which heavily criticises the proposal of the ESAs.

    On September 2, following a lengthy design and marketing process, which culminated with last week’s publication of the investor presentation by the debt management office, Sweden’s much-awaited sovereign green bond reached the market. The demand for the SEK20 billion 0.125% coupon ten-year sovereign bond issue was strong with 70 different investors (61.5% of which were domestic) bidding SEK47 billion.

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    Taking a closer look at plastic recycling, guest interviewer Christina Ameln, Sustainability Strategist at Stockholm-based consultancy Purple IVY, talked to Rob Kaplan, Founder and CEO of Circulate Capital, which aims to invest in the circular economy through the utilisation of plastic waste.

    After weeks of discussions over the hiring of Nicolai Tangen as the next CEO of Norges Bank Investment Management, the executive and Norway’s authorities seem to have reached a new settlement acceptable to all parties. “I have taken […] actions to remove any doubt about which hat I am now wearing. I want to be CEO of the oil fund, and have only one objective: Creating wealth for future generations,” Tangen said.

    “Nordic clients are among the most sophisticated investors. Sustainability is a hygiene factor rather than a competitive advantage these days. There is, of course, much more to be done, but I am certain that the world is moving in the right direction. Investors don’t want to compromise,” said Sofie Zetterlund as she joined Schroders‘s office in Stockholm as Marketing Manager for the Nordics this week. We also noted that former Governor of the Bank of England, Mark Carney, a strong proponent of sustainable investment practice, joined Brookfield Asset Management.

    Last but not least, Nordea Asset Management announced its two European Fixed Income Stars Strategies were awarded the “Towards Sustainability” label by the Belgian Central Labelling Agency (CLA).


    @JaiPics via Twenty20

    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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