Nordea Life & Pensions Sweden is taking up the Climb for Climate challenge in its own way. We’re reallocating SEK 7 billion to sustainable assets in 100 days.
Climb for Climate is an initiative to raise awareness about the impact of climate change on our alpine environments. Founder Peter Sandahl from Nordea and his mountaineering companion Danny Uhlmann will attempt to climb all 82 summits over 4,000 metres in the European Alps in 100 days.
Together with Sustainable Finance, Nordea Life & Pensions Sweden is sponsoring the initiative. We’ve already begun reallocating the SEK 7 billion of our global equities in the traditional pension portfolios to sustainable investments and the goal is to be finished before the last summit is reached.
“We thought this was a perfect opportunity to visualize what we can all do to make a difference. We will now make sure that pension savings for more than 300,000 customers become more climate friendly,” says Johan Nystedt, Managing Director at Nordea Life & Pensions Sweden.
Nordea Life & Pensions aims to continuously improve the environmental profile of all its pension products. We know from surveys that most of our customers want to have their pension savings invested in environmentally friendly assets. We also expect that companies that are leaders in sustainability will outperform laggards.
“I can only imagine how hard it must be to climb 82 peaks in 100 days, so I will not compare our effort to that of Peter and Danny. But what we are doing is a huge task as well as a huge responsibility. We are doing this because we believe it will give our customers better returns in the long run,” continues Johan.
Regardless of how many summits the Climb for Climate team reaches during their expedition, we will push on with our task of reallocating the SEK 7 billion as fast as we can. It is still too early to calculate the actual environmental gain. “We will get back on that when we have come a bit further, but it will be substantial,” says Johan.
Learn more about the Climb for Climate initiative.
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