Danske Bank Asset Management announced the launch of a new team climate and nature team, advising and supporting the firm’s investment teams in making decisions based on the risks and opportunities related to nature and biodiversity.
The team will be led by the firm’s chief ESG specialist, Mads Steinmüller, who has been appointed to the new position of Head of Climate and Nature.
According to Danske Bank, the formation of the new unit was driven by increased investor focus on nature and biodiversity. The firm said that it recently conducted an analysis that revealed that nearly one-third of the companies in the manager’s investment portfolio is heavily dependent on nature. At the same time, 60% of the companies pose a risk of harming nature.
The company said the findings created an initial understanding of the drivers and sectors in its lending and investment portfolios that potentially negatively impact nature and biodiversity. Danske has committed to engage with 30 large, global investee companies that all have a significant impact on nature and biodiversity before the end of 2025.
Steinmüller previously served as Chief ESG Specialist for Danske Bank, and before that worked for the company as Head of Active Ownership.
“Nature constitutes half of the foundation of the global economy. At the same time, we see how this is an agenda that is increasingly important to our investors. However, historically, it has not received as much attention as, for example, climate change. This is why the entire financial sector needs to step up its efforts in this area. In general, it’s an agenda that, in my opinion, will undergo a similar development as the one we have seen in relation to climate.”