10 FUND IN FOCUS
world approximately 2.8% of gross domestic prod- uct per year, which equates to about USD 2trn.
four key pillars: challenges, solutions, outcomes and impact. “Firstly, we aim to identify specific ESG challenges and group these into a number of thematic areas,” he explains. “Next, we select companies with impactful solutions to counter the challenges we have pinpointed. We then look to measure the tangible effects of the solution and assess how it affects its users and the broader environment. Finally, we want to achieve impact in two ways: through the positive change created by the solutions we invest in, as well as by improving the ESG parameters of the companies in which we invest, resulting from our engagement efforts.” Four primary themes The Nordea 1 – Global Climate and Social Impact Fund’s investment universe is aligned to four primary themes: health and wellbeing, inclusion and opportunity, sustainable living and the low carbon economy. Each main theme also contains a number of underlying sub-strategies. Within the health and wellbeing theme, Sørensen and Padberg seek companies enabling access to high-quality health services, medicines and technologies, and nutritious foods. Solutions in this space are pivotal, as chronic non-communica- ble diseases are the leading cause of death and disability worldwide. In addition, obesity costs the
The inclusion and opportunity theme aims to ad- dress a number of inequalities across society. For example, 1.6 billion people are still housed inade- quately across the world, while 30% of adults still do not have bank accounts. Here, the team targets companies enabling equal access to education and vocational training, lower-cost housing pro- jects and services, providers of financial services and technologies, and management solutions for small and medium-sized businesses. The challenges of the sustainable living theme are also stark, highlighted by the fact that 2.1 billion people across the world do not have access to safe drinking water. In addition, 45% of global greenhouse gas emissions can be attributed to the production of goods. To improve the chances of a sustainable future, Sørensen and Padberg look for companies producing or delivering products and services in the areas of basic sanitation, safe and fresh water, waste management, and food manu- facturing and distribution. Lastly, the team seeks innovators assisting the transition to a low carbon economy. It invests in companies contributing to low carbon and
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