Big Oil Under Pressure

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Commitments still fall short of the measures needed to achieve net-zero CO2 emissions by 2050 and stop global temperatures from rising to 1.5 °C above pre-industrial levels, the International Energy Agency (IEA) argues. Meanwhile, things are slowly moving. ExxonMobil shareholders elected two board members who pledged to ensure the oil giant takes steps to adapt and mitigate the impact of its activities on the environment. In a groundbreaking decision, the District Court in The Hague ruled against Royal Dutch Shell which will be forced to reduce its global CO2 emissions by 45% from 2019 levels by 2030.

Back in the Nordics, we had a chance to review the translated and updated version of Finnish-based Tiina Laundau and Hanna Silvola Sustainable Investing: Beating the Market with ESG.  

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Also in Finland, residential real estate company Kojamo Plcissued an inaugural green bond while Swedish energy company Vattenfall entered the hybrid green bond marketthis week. In a recent report on green bonds in the Nordic countries and the Netherlands published by NN Investment Partners and Kirstein A/S we find out about the different investment preferences, greenium and greenwashing experiences of the two regions.

“It has been such an eye-opener, the sheer level of sophistication that is possible to reach when it comes to sustainable investments,” Thomas Poulsen, appointed Director of business development for the Nordics at Kempen Capital Management told us as he settles in his new Amsterdam office.

And last, but not least, this week’s Snap column is dedicated to international biodiversity day. “Can we honestly accept that we are exterminating species that have as much right to be on earth as we do?” asks Norwegian professor Anne Sverdrup-Thygeson.

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The coronavirus epidemic has further accelerated the rise of ESG into the investment mainstream. As deficits skyrocket, bond investors have an opportunity to engage with governments on climate change, argues Thomas Dillon, Senior Macro ESG Analyst at Aviva Investors.

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