Nordea AM joins leading asset managers in commitment to Net Zero Emissions Goal

Nordea AM joins leading asset managers in commitment to Net Zero Emissions Goal

December 11, 2020

ESG
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Nordea joins leading asset managers in commitment to Net Zero Emissions Goal

Nordea Asset Management has joined a group of leading asset managers in launching the Net Zero Asset Managers initiative. This represents a collective commitment to:

  • Supporting the broader goal of achieving net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit global warming to 1.5°C.
  • Making investments which are aligned with achieving net zero emissions by 2050 or sooner.
  • Prioritising the achievement of real economy emissions reductions within the companies and sectors in which the asset managers invest.

As part of the initiative, asset manager signatories have committed to:

  • Work in partnership with asset owner clients on decarbonisation goals, consistent with an ambition to reach net zero emissions by 2050 or sooner across all assets under management;
  • Set an interim target for the proportion of assets to be managed in line with the attainment of net zero emissions by 2050 or sooner; and
  • Review their interim target at least every five years, with a view to ratcheting up the proportion of AUM covered until 100% of assets are included.

The commitment in turn recognises an urgent need to accelerate the transition towards global net zero emissions and for asset managers to play a part in helping to deliver the goals of the Paris Agreement.

Nils Bolmstrand, CEO, Nordea Asset Management:

“Nordea Asset Management is very happy to be a founding member of this important group, as it supports the asset management industry in its necessary efforts towards achieving the goals set by the Paris agreement. The targets of the Net Zero Asset Owner’s align fully with our internal climate targets, and we expect to see further development along these lines in the coming years.”

The Net Zero Asset Managers initiative will be managed globally by six Founding Partner investor networks, namely: Asia Investor Group on Climate Change (AIGCC), CDP, Ceres, Investor Group on Climate Change (IGCC), Institutional Investors Group on Climate Change (IIGCC) and Principles for Responsible Investment (PRI). In turn, the initiative is endorsed by The Investor Agenda, of which the investor networks are all founding partners, along with UNEP FI.

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