Swedbank Robur Adds Oil & Gas Exclusion in New Responsible Investment Policy
Scandinavian asset manager Swedbank Robur announced today the launch of an updated responsible investment policy, expanding its strategy for opting out of fossil fuels to include oil, gas and power production from fossil fuels in addition to coal. The policy has also been supplemented with three new strategies, encompassing ‘exclude, include and engage,’ which will be applied to the company’s funds.
Pia Gisgård, Head of Sustainability at Swedbank Robur, said:
“Sustainability is a complex issue, and we want to work to simplify it. In the three new strategies, we clarify how we work with exclusion, inclusion and engagement to have an impact with our investments. It gives our customers a clearer picture of how the fund company’s investments, working methods and the UN’s global sustainability development goals are connected.”
According to Swedbank Robur, the new policy also encompasses investment exclusions for unconventional fossil fuels such as Arctic oil/gas, shale oil/gas and oil sands. The company stated that exceptions can be made for transition companies that are judged to be able to meet the Paris Agreement’s goal of carbon neutrality by 2050.
Liza Jonson, CEO of Swedbank Robur, said;
“We strive to be a leader in developing the industry by setting standards and ambitious goals for sustainable investments. We want to contribute to a more sustainable development in society, by shifting our investments towards sustainable alternatives and thus influence others to do the same. We are now taking yet another big step by expanding our criteria for exclusion of fossil fuel companies to encompass coal, gas and oil operations. This is a natural and logical next step for us, and something we are very happy to communicate.”