16 INSIDE NORDEA
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No shortcuts to net zero Hilde Jenssen, Head of Fundamental Equities at Nordea Asset Management (NAM), discusses the global decarbonisation drive and how activities at portfolio level can make a difference.
Can you set the scene for us and explain why decarbonisation is so important?
At a glance ` In 2020, NAM joined forces with like-minded investors to launch the Net Zero Asset Managers initiative – a coalition targeting net zero emissions by 2050 ` Net zero is not possible purely by avoidance and exclusion, which is why NAM engages with companies to deliver meaningful carbon emissions reductions ` Adviser allocation choices can be powerful, as evidenced by the Global Stars Equity portfolio, whose carbon emissions are 40% lower than those of its benchmark
I am sure all the readers of this magazine rec- ognise that climate change is a global crisis, one that not only threatens the environment, but also the future of our society and economy. As carbon emissions are a key driver of climate change, achieving net zero carbon emissions would put a stop to the damage we are currently inflicting on the planet. This is why governments and asset owners continue to sign net zero targets and outline steps to decarbonise. Investors also under- stand the gravity of the situation, which is why we joined forces with a number of asset management peers in launching the Net Zero Asset Managers (NZAM) initiative.
Could you tell us more about the initiative and how NAM plans to achieve net zero?
Put simply, all NZAM signatories are setting decar- bonisation goals consistent with net zero emissions by 2050, with interim reviews and targets along the way. As for NAM, the steps we are taking to reduce emissions within our portfolios are quite straightforward. Ultimately, we do not believe we
Certainly. Launched by NAM and 29 other asset managers in 2020, NZAM has since grown to more than 220 signatories, which represent almost USD 60trn of assets under management.
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