Nordea Liv & Pension Sweden has swapped out €2.1bn of traditional investments and into low-carbon footprint investments in a major shift of investment strategy.

The changes will reduce the carbon footprint of Nordea’s portfolio by 50 per cent, and the assets moved over the first six months of 2019, will give its 420 000 members more sustainable pension savings. The move follows a €20.7bn move of assets in 2018.

Commenting on the shift, Nordea Liv & Pension head of sustainability Peter Sandahl said: “As a capital owner, in addition to generating a long-term good return for our pension savers, we have a responsibility to contribute to the transition towards a climate-smart and sustainable future.

“It, therefore, feels very good that we have moved almost SEK 30bn over the past year. This is an important part of our climate strategy together with continued active ownership and advocacy.”

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