RI Annual Report 2023

ESG highlights


New investor initiatives 2023

As a responsible investor, we actively participate in investor initiatives on various ESG topics. We are currently part of 37 initiatives, including 5 new initiatives that we joined during 2023.

New RI Initiatives Canada Climate Engagement (CEC) CDP Green Finance Accelerator (GFA) Diversity Project Europe Investor Initiative on Hazardous Chemicals (IIHC) Nature Action 100 Investor Statements Global Financial Institutions Statement to Governments on Deep Seabed Mining Comment letter to the United States Environmental Protection Authority Letter to the UK Prime Minister from the CEOs of IIGCC, PRI and UKSIF

Canada Climate Engagement (CEC) Climate Engagement Canada (CEC) is a collaborative engage- ment 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. CDP Green Finance Accelerator (GFA) NAM is a signatory for the CDP Green Finance Accelerator, an initiative designed to drive greater climate and environment- related data reporting from companies. The greater transpar- ency that results will assist investors in focusing their invest- ments and meeting the reporting requirements of the EU’s ESG regulations, which are ultimately aimed at directing capital towards greener investment. 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, Diversity Project Europe, which has a larger geographical scope to enable cross-border collaboration and to help pro- mote a diverse and inclusive European asset management industry. The project is a non-profit organisation structured

with a board, advisory council and steering group. Kasper Elmgreen, CIO of Fixed Income & Equities, has taken a seat in the advisory council, the group responsible for defining and setting out the strategy of the project.

Investor Initiative on Hazardous Chemicals (IIHC) In 2023 NAM joined the Investor Initiative on Hazardous Chemicals (IIHC), an investor-led initiative that encourages chemical companies to increase transparency and stop the production of persistent chemicals. The aim of the IIHC is to reduce adverse impacts from hazardous chemicals and there- by exposure to the financial risks to which they are linked. Cecilia Fryklöf, our Active Ownership head, is member of the Steering Committee of the Investor Initiative on Hazardous Chemicals (IIHC – supported by ChemSec). Nature Action 100 In 2023, NAM joined more than 200 institutional investors – representing USD 26.6 trillion in assets under management – in Nature Action 100, a-n investor group focusing on compa- nies “systematically important” to reverse nature and biodiver- sity loss. The initiative has entered its engagement phase, and we participated in the letter that was sent to 100 companies that have been identified as critical for biodiversity protection and restoration.

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