Nordea Asset Management has obtained a responsible management mandate of 1.25 billion euros from VBL, a supplementary pension institution for retired public service employees in Germany. This portfolio of European stocks will have as its reference index the MSCI Europe Climate Paris-aligned and will be deployed from 1
is
November.
VBL supports the global climate goals of the Paris Agreement. “
Over the past three years, we have already reduced the CO2 intensity of our stocks and corporate bonds. It is now important for us to continue on this path of CO2 reduction
» commented Dr. Michael Leinwand, Head of Investments at VBL.
Emissions from VBL's stock and corporate bond portfolio are currently below the target set for 2025. By the end of 2025, the target is to be below 92 tonnes of CO2 equivalent per million euros of turnover. “
The mandate given to Nordea Asset Management will help us achieve this goal and provides long-term opportunities for further reduction of our carbon footprint
», by Dr. Michael Canvas.
From the outset, the portfolio will have a positive impact on the overall carbon footprint of VBL's investments. By managing the portfolio against the benchmark index aligned with the Paris Agreement, VBL is on an ambitious CO2 emissions reduction trajectory in order to reduce greenhouse gas emissions by 7% per year .
Nordea Asset Management was chosen following a selection process. The company benefited from its experience acquired with the Nordea European Stars Equity Strategy.
