Stockholm (NordSIP) – Carnegie Fonder is the first Swedish fund company to join the Science Based Target Initiative (SBTi), the manager reveals in a press release on August 9. Science-based targets provide companies with a clearly defined path to reduce emissions in line with the Paris Agreement goals. More than 1,200 businesses around the world are already working with the initiative.
“By joining the SBTi, Carnegie Fonder vows that our portfolios are part of the climate solution and that the companies we invest in set relevant, ambitious and verified targets for their emission.” comments Anna Strömberg (pictured), Head of Sustainability at Carnegie Fonder. “We have been pushing for our portfolio companies to sign the UN Global Compact and its ten principles, as well as report their climate impact to the CDP for many years. To now also urge our portfolio companies to set a science-based climate goal (SBT) is a natural next step,” she adds.
According to the press release, approximately 25% of Carnegie Fonder’s assets under management are currently aligned with SBTi. The fund manager’s commitment is that by 2040, 100% will have a science-based target. The progress towards this goal will be evaluated every five years. By the end of 2026, holdings corresponding to 46% of Carnegie Fonder’s assets under management must have set a science-based climate target.
Strömberg is proud of the ambition level showed by Carnegie Fonder. “The financial industry has an important role to play in helping the world to meet its climate goals. As a manager of our customers’ capital, we have been entrusted with the mission to ensure that our portfolios are also a part of the solution,” she says.
The SBTi is part of the World Resources Institute’s (WRI) Centre for Sustainable Business and a collaboration between WRI, CDP, WWF and the UN Global Compact. SBTi is the only organisation that requires an external expert verification of climate-related objectives and strategies, ensuring that the signatory’s commitment is at least as significant as its contribution to world emissions.
Picture courtesy of Carnegie Fonder