RI Annual Report 2023

ESG highlights


Active in the global RI community

Contributing actively to industry-wide responsible investment discussions and promoting best practices across the investment community are key components of our ESG work.

Collaborative engagements We believe that joining forces with other investors in engag- ing with companies is an effective way to achieve successful engagement outcomes. While we also engage individually, we see collaborative engagements as an important part of our active ownership work. Engaging in this way allows us to share views with other industry players, and to scale up the impact of our engagements. In 2023, we participated in 588 collab- orative engagements, leading 88 of those. The most common collaborations were related to Climate Action 100+, Corporate Human Rights Benchmark, and Oil & Gas Methane Partner- ship 2.0 (OGMP). 2023 was a good year for our collaborative engagements. We continued our Methane Engagement campaign, which we launched in 2022 and have been leading since then, have joined the steering committee of the Investor Initiative on Haz- ardous Chemicals (IIHC), and are leading three engagements related to PFAS use13.

Participating in investor initiatives is a way for us to exchange knowledge, shape the sustainable finance industry and to benchmark and develop our own ESG approach and frame- work. During 2023, we were active in 35 investor initiatives across a broad range of ESG topics. We were also active in several Sustainable Investment Forums (SIFs) around Europe, and participated in numerous engagements in collaboration with other investors. While these initiatives and collaborative actions are an extremely important part of our work, we see that our role and responsibility in the RI community extends beyond these initia- tives. We wish to engage with our stakeholders, to educate and to learn. We do this by participating in events and discussions, contributing to publications, engaging with our clients, and through academic collaboration. Academic Collaboration During 2023, the RI team has collaborated with Copenhagen Business School. Together with students of sustainability, our ESG experts worked on research within sustainable aviation fuel, CCUS technologies as well as debt-for-nature swaps. The work is part of an ongoing partnership with the university and includes guest lectures hosted held by selected RI team members. Policy support ESG regulations were a hot topic in 2023 and Nordea Asset Management contributed to several consultations. At the European level, we participated in the EU Commission’s dis- cussion on the ban of Per- and Polyfluorinated Substances (PFAS) and the discussions surrounding the latest develop- ments of the Taskforce on Nature-related Financial Disclo- sures (TNFD).

13) For more information on our Methane and PFAS engagements, please see our section on Engagements.

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