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    The Chips are Down

    This week, Länsförsäkringar announced it would start excluding all gaming companies that generate revenue from gambling. The decision resulted in the removal of 28 companies on top of another 20 companies excluded following an initial decision taken during the first quarter of 2020 to exclude online gambling companies.

    Kommuninvest officially launched its Loans for Social Sustainability this week. Björn Bergstrand, head of sustainability at Kommuninvest, says the first such loans were provided to Botkyrkabyggen and AB Eidar, the real estate company of the city of Trollhättan in Västra Götaland County. Also in the world of Swedish fixed income, Swedish real estate company Klövern issued a SEK2 billion 3.5 years green bond.

    Stockholm-based placement agent Worthwhile Capital Partners announced the expansion of its sales force and expertise to extend its business coverage to the rest of Europe. The firm has hired Christian Broberg and Martin Sonesson to its fundraising team. The firm has also hired Sony Kapoor and Niclas Sundstrom as senior advisers to the business.

    Elsewhere, the Sustainability Accounting Standards Board (SASB) has published a new report, explains how investors can use SASB Standards to build an ESG strategy for private equity.

    Meanwhile, according to a recent report by UK consultant Redington, asset managers need to redouble their efforts to address climate change and diversity instead of merely paying lip service to the theme. Also on the more pessimistic side, a recent report published by the OECD titled “ESG Investing: Practices, Progress and Challenges”, found “little difference shown in the performance of high [ESG] scoring and low scoring funds, showing for both a wide range of performance.”

    The Net-Zero Asset Owner Alliance, an UN-convened network of asset owners, has published its “Draft 2025 Target Setting Protocol”, which is now open for public consultation until November 13th, 2020. Feedback can be provided online until the deadline.

     

    Image by 10741031 from Pixabay

    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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