On 25 September 2014 we signed the Montréal Carbon Pledge that is supported by the Principles for Responsible Investment (PRI) and the United Nations Environment Programme Finance Initiative (UNEP FI).
The Pledge allows asset owners and investment managers to formalise their commitment to the goals of the Portfolio Decarbonization Coalition, which mobilises investors to measure, disclose and reduce their portfolio carbon footprints.
A step towards a low-carbon economy is to be transparent about our own carbon footprint. By signing the Montréal Carbon Pledge we commit to measuring and publicly disclosing the carbon footprint of our investment portfolios on an annual basis.
In December 2015 we disclosed the carbon footprint as part of the ESG scorecards for our STARS funds.
The Paris Pledge for Action
After four years of negotiations, the COP21 conference in Paris in 2015 presented the first universal agreement on climate change.
Ahead of the COP21 we showed our commitment by signing the Paris Pledge for Action. This is a global initiative for non-state players to pledge support to the COP 21 agreement. By joining this pledge, Nordea along with the other signatories committed to ensuring that the ambition set out by the Paris agreement to limit the global temperature rise to less than 2°C is met or exceeded.
A common carbon footprint standard
Insurance companies in Sweden are already seeing the effects of climate change as the number and extent of climate-related damages increase. Therefore, Insurance Sweden, the industry organisation for insurance companies, has launched a common industry standard for reporting carbon footprint in the insurance companies’ investment portfolios.
By measuring and publishing these numbers the insurance companies aim at increasing the pressure on the companies they invest in to reduce their greenhouse gas emissions.
Insurance Sweden has been part of the working group for this initiative.