Can you see the forest for the trees?

    In this week’s Laundromat Richard takes a look at Global Canopy‘s latest report and is dismayed to observe that a shocking 40% of the 500 largest forest companies have no deforestation policies in place. Meanwhile, in Finland, the timberland-specialised team at United Bankers is raising a new PE fund focusing on Forest Industry innovations. In a world where we are shifting away from plastics while trying to prevent deforestation, supporting the development of new technologies, both up-stream and down-stream is crucial.

    Also in PE, Golding Capital Partners recently launched its first impact private equtiy fund-of-funds focused on renewable energy, resource efficiency, sustainable agricultural technology and inclusive finance. We are also relieved to share that Mellon Investments, the index investment arm of BNY Mellon, is being re-instated as a member of Climate Action 100+ after struggling with an administrative mishap.

    Beyond the trees, in Montreal, the ISSB decided that the initial IFRS Sustainability Disclosure Standards, S1 and S2 will become effective in January next year. Before reporting, sustainable funds might have to review their name soon. The related consultation launched by ESMA closed earlier this week. And to be admitted by the Swedish Fund Selection Agency Fondtorgsnämnden, you’ll need to follow some rules.

    Last but not least, we take a moment to remember that the Ukraine war started a year ago with, unfortunately, no peace in sight yet. This is also a good time to reflect on the sudden change in popularity of defence stocks and reflect yet again on whether exclusions are justified. Swedish State pension AP7‘s ownership of Erdogan-controlled Turkish arms company Aselsan could make for a good conversation over dinner this weekend, or better yet, in the board room. 

    Image courtesy of Casey Horner on Unsplash
    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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