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Storebrand Asset Management welcomes more industrial scrutiny: "Asset managers, who don't deliver what they've promised, will eventually be found out" – AMWatch

It will eventually become much easier for stakeholders to identify which asset managers contribute to the mitigation of climate change and who do not, according to Storebrand Asset Management CEO.

Published 30.08.2019 by Søren Rathlou Top

To asset managers, trust is hard to gain and very easy to lose, says Storebrand Asset Management CEO Jan Erik Saugestad. "In terms of sustainable investing, the difference between what some asset managers say and what they do is concerning," he says to AMWatch.

Saugestad refers to research by UK-based think tank InfluenceMap according to which, the world's 15 largest asset management groups have increased their holdings in companies with business models associated with thermal coal by more than 20 percent between 2016 and 2018.

Thermal coal is a leading contributor to global warming. "These issues are too important to be greenwashed or disguised as SDG-compliant (Sustainable Development Goals)," Saugestad notes.

He welcomes the idea of increased stakeholder scrutiny of the asset management industry because, he argues, companies that do not walk the talk on sustainable investing and the promise of a more climate-friendly direction will ultimately lose their stakeholders' trust.

Read the full story at AMWatch

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