RI Annual Report 2023



RI Initiatives

NAM is a member and signatory in several RI initiatives and forums.

Investor statements and letters

Comment letter to the United States Environmental Pro- tection Authority: The letter supported the Environmental Protection Agency’s (EPA’s) updated methane regulation for the oil and gas industry, the largest source of industrial methane emissions in the United States. The letter called for expanded leak monitoring, a phase out of polluting pneumatic devices, and additional restrictions on routine flaring. The final, strengthened regulation was published in December 2023. Global Financial Institutions Statement to Governments on Deep Seabed Mining: This letter, signed by 36 signatories of the Finance for Biodiversity Pledge, representing over EUR 3.3 trillion of combined assets, urges governments to halt negotiations underway at the International Seabed Authority, which could lead to a potential start of deep seabed mining (DSM) in international waters.

Letter to the UK Prime Minister from the CEOs of IIGCC, PRI and UKSIF: CEOs of IIGCC, Principles for Responsible Invest- ment, and UK Sustainable Investment and Finance Associa- tion, have sent a letter to UK Prime Minister, Rishi Sunak, fol- lowing his announcement that the British government would water down key net zero policies. The letter signals deep concern with the recent proposals to ‘backtrack on vital policy measures that support the UK’s transition to net zero’. The let- ter was supported by 32 investors and financial institutions.

Investor initiatives

Climate Action 100+ We are a signatory of the Climate Action 100+, a collaborative global initiative led by investors to engage with the world’s largest corporate greenhouse gas emitters to improve governance on climate change, curb emissions and strengthen climate- related financial disclosures. In 2023 we were lead investor, or collaborative investor, in several CA100+ corporate engagements. Collaborative Sovereign Engagement on Climate Change This engagement initiative is a pilot PRI-coordinated investor initiative to support governments to act on climate change. We are part of the Advisory Committee. Diversity Project Europe Since 2021 NAM has been a part of Diversity Project UK which is a cross-company initiative championing a truly diverse, equitable and inclusive UK investment and savings industry. In 2023, NAM has committed to a new chapter of the project called Diversity Project Europe covering a larger geographical scope which will enable cross-border collaboration to help promote a diverse and inclusive European asset management industry. The project is a non-profit organisation structured with a board, advisory coun- cil and steering group. Kasper Elmgreen, CIO of Fixed Income & Equities, has taken a seat in the advisory council which is a group responsible for defining and setting out the strategy of the project. Emerging Markets Investor Alliance We are a member of the Emerging Markets Investors Alliance. It enables institutional emerging market investors to support good governance, promote sustainable development, and improve investment performance in the governments and companies in which they invest.

Access to Medicine Index The index analyses the top 20 research-based pharmaceutical companies on how they make medicines, vaccines, and diagnostics more accessible in low- and middle-income countries. It highlights best and innovative practices, and areas where progress has been made and where action is still required. Antimicrobial Resistance (AMR) Benchmark The AMR Benchmark tracks how pharmaceutical companies are responding to heightened drug resistance. We were a member of expert committee between 2017 and 2019. Canada Climate Engagement (CEC) Climate Engagement Canada (CEC) is a collaborative engagement initiative targeting the country's heaviest emitters. It is co-ordinated by Canada's Responsible Investment Association, the Shareholder Association for Research and Education (Share) and Ceres. Nordea Asset Management joined CEC in 2023 as the first international supporter. Carbon Disclosure Project (CDP) We are a signatory to the CDP, a project that aims to collect and share information on greenhouse gas emissions and climate change strategies. We are also part of the CDP Water Advisory Council. CDP Green Finance Accelerator (GFA) NAM is a signatory for the CDP Green Finance Accelerator, which is an initiative designed to drive greater climate and environment- related data reporting from companies. The greater transparency that results will assist investors in focusing their investments and meeting the reporting requirements of the EU’s ESG regulations, which are ultimately aimed at directing capital towards greener investment.

Made with FlippingBook interactive PDF creator