Climate and Nature Focus at Danske Bank AM

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    Stockholm (NordSIP) – Scientific evidence underscores the interconnectedness of climate change and biodiversity, calling for a unified approach to address both crises. Danske Bank Asset Management is among the asset managers recognising this dual imperative. They are now in the process of establishing an independent team to assist the investment organisation in making decisions that account for the risks and opportunities associated with both domains.

    Leading this initiative is Mads Steinmüller, who has recently taken on the role of Head of Climate and Nature. “As an asset manager, we need to understand how climate change and the loss of nature impacts investments and how we can best assist companies in transitioning to sustainable business models,” he comments. “Our goal is to gain insight into companies’ approach to both climate and biodiversity so that we can steer investments in the right direction. Danske Bank is already in a strong position today, but there is a need for us to strengthen further our efforts in selecting our investments and supporting the companies in our portfolios,” adds Steinmüller.

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    So far, the newly established team consists of two members only. However, they have strong backing from the twenty experts in Danske’s broader Responsible Investments group. “The team is not complete yet,” says Steinmüller. “We are still to decide on what competencies we will be bringing in and how many.”

    Steinmüller, who has a background as a credit analyst and investment advisor, joined Danske in 2019 as Chief ESG Specialist, supporting Danica Pension and Danske Bank’s work on responsible investments. In August 2022, he stepped up to shoulder the important role of Interim Head of Active Ownership within the Responsible Investment team at Danske Bank while Oshni Arachchi was on parental leave. “I especially look forward to getting started on the Net Zero and biodiversity commitments of both Danske Bank and Danica Pension – great things ahead!” he shared at that point. Now that Arachchi is back at the helm of Danske’s Active Ownership team, Steinmüller has found the perfect platform to advance this agenda further.

    “It is a true privilege to be part of Danske Bank, an organisation that dares to lead the way,” says Steinmüller. “By establishing this new Climate and Nature team, Danske Bank sets an example for the financial industry. We are embarking on a mission to reach Net Zero and combat biodiversity loss, all while safeguarding our clients’ assets.”

    Image courtesy of Danica Pension
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