Halved carbon emissions for Swedbank Robur on managed capital* - sets new milestones for its climate work
Within the global initiative Net Zero Asset Managers, Swedbank Robur and other asset managers have worked actively to address and achieve the Paris Agreements’ net zero target 2050. In connection with COP26, Net Zero Asset Managers will present a joint report with the goals and methods of the signatories to achieve the Paris Agreement's goals based on a common framework.
Swedbank Robur's report shows that it is well in line with its target that all managed capital should be aligned with the Paris Agreement's goal of limiting warming to 1.5 degrees, and that carbon dioxide emissions in equities and corporate bonds have decreased by 50% between 2017-2020. The report, which will also be published by the IIGCC (The Institutional Investors on Climate Change), proves that many asset managers are far ahead in their ambitions to shift capital in a more sustainable direction.
“The climate is the greatest challenge of our time and is being debated extensively. As it should be. However, the debate must not be at the expense of action, and here initiatives such as Net Zero Asset Managers are an important key in driving development forward. The climate issue must stand alone above short financial objectives, corporate and national borders”, says Liza Jonson, CEO of Swedbank Robur.
After less than a year of work, Net Zero Asset Managers has now set a common framework and consensus on how asset managers within the initiative report goals and milestones going forward in order for their managed capital to be in line with the Paris Agreement's net-zero target.
"Our analysis shows that Swedbank Robur has done a major shift since 2017, and that we are well in phase to achieve our first climate target of our managed capital being in line with the Paris Agreement as early as 2025. But that is not enough, and we want to continue to challenge the industry and ourselves to move faster. Our focus will now be on investments in climate solutions and influencing our portfolio companies to set targets in line with the Paris Agreement," says Liza Jonson.
Going forward, Liza Jonson sees that the challenges will require coordinated action at all levels of society – business, academia, the public sector and politics. She also believes that in the next step it is all about daring to invest in, support and drive companies that have the potential to transition to a more sustainable business, or produce products that can contribute to the net-zero goal.
Swedbank Robur’s new climate goals
Continue to increase the reduction of CO2e emissions - halve our emissions by 2030 to ensure net-zero emissions by 2040, compared to baseline year 2019. This will be achieved partly by increased investments in companies that have set net-zero targets themselves, with the goal that the share of our AUM that set net-zero targets will be 60 percent by 2030 and 100 percent by 2040.
Climate solutions - Increase our investments in climate solutions, with an initial focus on renewable energy. 1.4 percent of our portfolio's aggregated AUM by 2030 will be invested in renewable energy and then increased to 3.8 percent by 2040, compared to baseline year 2019.
Engagement - Identify and prioritize dialogues with companies within the TCFD* (Task force on Climate-related Financial Disclosures) sectors that account for 70% of Swedbank Robur's owned emissions. Active engagement through dialogues creates the prerequisite for support in the companies' journey to set their own net-zero goals and work to achieve these goals.
Swedbank Robur's report and setting of new climate goals can primarily be linked to the UN Global Development Goals 13 (Climate action) and 17 (Partnerships for the goals).
Further information
The race to Net Zero – Swedbank Robur’s roadmap to net zero emissions (English)
Net Zero Asset Managers
Contact:
Carina Sesser Nylund, Press manager, Swedbank Robur ph. +46 72 230 52 64
* Based on the measurable data available for shares and corporate bonds.
Swedbank Robur is a wholly owned subsidiary to Swedbank and active in Swedbank´s four home markets. Swedbank Robur was founded in 1967 and offers more than 80 mutual funds, institutional and discretionary asset management and management of pension funds. The number of customers is 3 million in Sweden and 1 million in the Baltic countries. Assets under management are approximately SEK 1678 billion (2020). Swedbank Robur’s vision is to become a world leader in sustainable value creation.