Carbon Capture & a New Green (Bond) Giant

    If you couldn’t join us, here is a chance to catch up with an insightful discussion from the live virtual round table we hosted last week! Together with the AP fund’s Council on Ethics Secretary-General John Howchin, Northern Trust Asset Management‘s Julie Moret and IIGCC Programme Leader Oliver Grayer we talked about how to lead good stewardship, related to important questions from climate change to diversity.

    Iceland witnessed a major milestone in the race to net-zero this week, with the launch of Orca, the world’s largest direct air capture and storage plant, which claims to permanently remove 4,000 tons of CO2 per year from the air. While this amount is not as impressive as it may sound, the proof of concept is definitely a step in the right direction.

    This week, we caught up with ShareAction‘s latest reports that take aim at the chemicals and the banking sectors for their role in the efforts to decarbonise the global economy and shows large disparities between laggards and leaders. We also finished to digest NN IP‘s excellent ‘Summer Course’ and reported on a riveting session focusing on the two main drivers of poverty alleviation in China: government policy and technology.

    The European Commission has finally arrived on the green bond scene. With the adoption of its new Green Bond framework the EC intends to issue €250 billion in green bonds between now and end-2026.

    Meanwhile, “Danske has high ambitions when it comes to sustainability, both for internally and externally managed funds, and I look forward to contributing and driving this even further,” Annika Hagberg told us as she re-joined, in August, Susanne Bolin Gärtner and recently appointed Gustaf Sjöström at Danske Bank‘s manager selection team.

    Also in Sweden, state pension AP1 seeded Federated Hermes‘s Climate Change High Yield Credit Fund, which uses the firm’s proprietary Climate Change Impact (CCI) Score framework. Meanwhile, sister pension fund AP3 purchased Texas timberland for half a billion USD.

    Our Snap column this week reflects on the ins and outs of digital events with a compassionate thought for those of us out there suffering from attention deficit, while attending a conference on ESG data and regulation.


    Image from greefus groinks on Flickr via Wikimedia Commons

    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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