Environmental Finance awards Nordea Asset Management “ESG Engagement Initiative of the year”

LUXEMBOURG, LU — Nordea Asset Management (NAM) is honoured to receive recognition from Environmental Finance at its Sustainable Investment Awards 2020. NAM won the ESG Engagement Initiative of the Year for its work to reduce pharmaceutical pollution.

Environmental Finance, a pan European news outlet reporting on sustainable investment, announced its decision to recognize Nordea Asset Management with the ESG Initiative of the Year Award for its work to reduce pharmaceutical water pollution in India, where 163 million people lack access to clean water.

“This represents a long-term commitment to engage with pharma companies that we are invested in.” said Eric Pedersen, Head of Responsible Investment at Nordea Asset Management. “It is also a prime example of how engagement can address the ‘double materiality’ of ESG factors: Reducing investors’ risk from owning the companies involved, while at the same time limiting the negative externalities of those companies on the world around us.”

In 2015, Nordea’s Responsible Investments Team initiated its engagement with a field trip to Hyderabad, where they witnessed fierce industrial pollution surrounding pharma manufacturing sites. “We have commissioned two independent on-the-ground investigations over the past five years to understand the environmental and health impacts of pharmaceutical manufacturing,” says Magdalena Kettis, Active Ownership Director at Nordea Asset Management. “We shared our findings and expectations with pharma companies and the industry-led Pharmaceutical Supply Chain Initiative (PSCI). In response, the industry developed an action plan taking an industry approach to address pharma water pollution in India, which included capability training of Indian suppliers through training conferences and webinars.”

As the only investor member of PSCI’s Advisory Board, NAM continues to meet regularly with pharma industry leaders to discuss progress and most of NAM’s expectations have been met; the pharma industry has taken important steps to engage with suppliers and address water pollution.

“As the ongoing Coronavirus crisis emphasizes the importance of responsible action by the pharma sector and the continued need for Antimicrobial Resistance stewardship, Nordea is continuing engagement through the AMR Benchmark, World Water Week events and company dialogues,” says Eric Pedersen.

Since being considered for the award, Nordea has taken part in an investor engagement targeting the pharmaceutical sector on Covid-19. A statement signed by over 100 investors managing more than USD14 tn has been sent to the largest pharma companies across the globe. This statement includes expectations that pharmaceutical companies prioritize delivering affordable worldwide access to health products in these times rather than sole profit-seeking behaviour, focus on international cooperation to ensure supply chains are functional, and invest in R&D programmes to help better contain future pandemics.

 

 

About Nordea Asset Management
Nordea Asset Management (NAM, AuM 204bn EUR*), is part of the Nordea Group, the largest financial services group in the Nordic region (AuM 280bn EUR*). NAM offers European and global investors’ exposure to a broad set of investment funds. We serve a wide range of clients and distributors which include banks, asset managers, independent financial advisors and insurance companies.

Nordea Asset Management has a presence in Bonn, Brussels, Copenhagen, Frankfurt, Helsinki, London, Luxembourg, Madrid, Milan, New York, Oslo, Paris, Santiago de Chile, Singapore, Stockholm, Vienna and Zurich. Nordea’s local presence goes hand in hand with the objective of being accessible and offering the best service to clients.

Nordea’s success is based on a sustainable and unique multi-boutique approach that combines the expertise of specialised internal boutiques with exclusive external competences allowing us to deliver alpha in a stable way for the benefit of our clients. NAM solutions cover all asset classes from fixed income and equity to multi asset solutions, and manage local and European as well as US, global and emerging market products.

*Source: Nordea Investment Funds, S.A., 31.03.2020

 

 

Nordea Asset Management is the functional name of the asset management business conducted by the legal entities Nordea Investment Funds S.A. and Nordea Investment Management AB (“the Legal Entities”) and their branches, subsidiaries and representative offices. This document is intended to provide the reader with information on Nordea’s specific capabilities. This document (or any views or opinions expressed in this document) does not amount to an investment advice nor does it constitute a recommendation to invest in any financial product, investment structure or instrument, to enter into or unwind any transaction or to participate in any particular trading strategy. This document is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or instruments or to participate to any such trading strategy. Any such offering may be made only by an Offering Memorandum, or any similar contractual arrangement. Consequently, the information contained herein will be superseded in its entirety by such Offering Memorandum or contractual arrangement in its final form. Any investment decision should therefore only be based on the final legal documentation, without limitation and if applicable, Offering Memorandum, contractual arrangement, any relevant prospectus and the latest key investor information document (where applicable) relating to the investment. The appropriateness of an investment or strategy will depend on an investor’s full circumstances and objectives. Nordea Investment Management AB recommends that investors independently evaluate particular investments and strategies as well as encourages investors to seek the advice of independent financial advisors when deemed relevant by the investor. Any products, securities, instruments or strategies discussed in this document may not be suitable for all investors. This document contains information which has been taken from a number of sources. While the information herein is considered to be correct, no representation or warranty can be given on the ultimate accuracy or completeness of such information and investors may use further sources to form a well-informed investment decision. Prospective investors or counterparties should discuss with their professional tax, legal, accounting and other adviser(s) with regards to the potential effect of any investment that they may enter into, including the possible risks and benefits of such investment. Prospective investors or counterparties should also fully understand the potential investment and ascertain that they have made an independent assessment of the appropriateness of such potential investment, based solely on their own intentions and ambitions. Investments in derivative and foreign exchange related transactions may be subject to significant fluctuations which may affect the value of an investment. Investments in Emerging Markets involve a higher element of risk. The value of the investment can greatly fluctuate and cannot be ensured. Investments in equity and debt instruments issued by banks could bear the risk of being subject to the bail-in mechanism (meaning that equity and debt instruments could be written down in order to ensure that most unsecured creditors of an institution bear appropriate losses) as foreseen in EU Directive 2014/59/EU. Nordea Asset Management has decided to bear the cost for research, i.e. such cost is covered by existing fee arrangements (Management-/Administration-Fee). Published and created by the Legal Entities adherent to Nordea Asset Management. The Legal Entities are licensed and supervised by the Financial Supervisory Authority in Sweden and Luxembourg respectively. The Legal Entities’ branches, subsidiaries and representative offices are licensed as well as regulated by their local financial supervisory authority in their respective country of domiciliation. Source (unless otherwise stated): Nordea Investment Funds, S.A. Unless otherwise stated, all views expressed are those of the Legal Entities adherent to Nordea Asset Management and any of the Legal Entities’ branches, subsidiaries and representative offices. This document may not be reproduced or circulated without prior permission. Reference to companies or other investments mentioned within this document should not be construed as a recommendation to the investor to buy or sell the same but is included for the purpose of illustration. The level of tax benefits and liabilities will depend on individual circumstances and may be subject to change in the future. © The Legal Entities adherent to Nordea Asset Management and any of the Legal Entities’ branches, subsidiaries and/or representative offices.