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    SFDR: the Nordic Supervisory Response

    In the aftermath of last week’s SFDR deadline, NordSIP reached out to the FSAs of the three Nordic EU countries to compare their approaches. It appears that Denmark’s Finanstilsynet is following its own unique path for now, compared to Sweden’s Finansinspektionen and to Finland’s Finanssivalvonta.

    According to a recent report from the UN EP, Nordic countries were leaders in the green recovery. However, Sweden stands out as a regional outlier with Green recovery spending amounting to less than 30% of total recovery spending.

    In the local green bond market, Kommuninvest captures the limelight this week with a successful new three-year US$1 billion issue and another SEK 7-year bond for the near future.

    On the people side, we caught up with Åsa Knudsen Sterte, formerly Deputy Director and sustainability coordinator at Sweden’s Ministry of Finance as she joined SEB as a Senior Advisor at SEB Climate & Sustainable Finance in February. We also noticed another exciting position on Arabesque Head of Nordics, Ulrika Hasselgren‘s busy agenda. Meanwhile, Arabesque announced a partnership to provide Accenture full access to its Arabesque S-Ray solutions.

    This week, UBS AM also announced the launch of a UCITS ETF tracking the Elite version of the S&P 500, which focuses on a portfolio of companies with best-in-class ESG scores representing around 25% of the market capitalization of the broader index.

    Don’t mention the war: this week’s column raises questions about diversity in the Nordics.

    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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