Return to ‘dark green’ status for Handelsbanken’s Paris-Aligned funds
The European Commission has recently presented a set of clarifications regarding sustainable investments, and has provided additional details on funds that track Paris-Aligned Benchmarks.
In the wake of this news, Handelsbanken Fonder has made the decision to again report its Paris-Aligned Benchmark funds in accordance with Article 9.3, also called ‘dark green’.
“This is an important step on the journey towards the goal of net zero emissions from our portfolios by 2040, and that assets are to be managed in accordance with the goals of the Paris Agreement”, says Emma Viotti, Head of Products at Handelsbanken Fonder.
As early as 2020, Handelsbanken Fonder began the work to adapt its index funds to indices aligned with the climate target of the Paris Agreement, and in 2021 seven of the fund management company’s index funds were moved over to Paris-Aligned Benchmarks.
In this context, given that a certain level of uncertainty prevailed as to how Paris-Aligned Benchmarks should be reported according to the EU’s Sustainable Finance Disclosure Regulation (SFDR), Handelsbanken Fonder decided to err on the side of caution and in December 2022 reported the funds in accordance with Article 8.
To Handelsbanken Fonder’s understanding, the European Commission has now made clear that funds tracking Paris-Aligned Benchmarks fulfil the requirements to be classed as sustainable investments, and can thus be reported in accordance with Article 9.3. In other words, funds with the objective of a reduction in carbon emissions and other greenhouse gas emissions.
“I’m very pleased that we finally have the clarification we have been waiting for, and that we can again report our Paris-Aligned Benchmark funds as dark green”, says Emma Viotti.
The European Commission’s announcement means that Handelsbanken Fonder, as of 12 May 2023, will report the following seven funds, with total assets under management of SEK 200 billion per end of April 2023, as dark green Article 9.3 funds:
Handelsbanken Global Index Criteria
Handelsbanken USA Index Criteria
Handelsbanken Europa Index Criteria
Handelsbanken Emerging Markets Index
Handelsbanken Global Småbolag Index Criteria
Handelsbanken Norden Index Criteria
Handelsbanken Norge Index Criteria
For more information, please contact:
Handelsbanken press office, +46 8 701 80 18
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