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Pension funds managed by the Swedbank financial group are investing 200 million euros, or a sixth of their managed assets, into sustainable business. Swedbank Investiciju Valdymas (Swedbank Investment Management) says all of the funds' investments will have to match sustainability criteria in the future.
„Swedbank“
„Swedbank“
© Reuters / Scanpix

It's the first such large investment in the market into exceptionally sustainable enterprises, Swedbank says.

"So far, we have sought to ensure that fund managers act responsibly and meet the United Nations' sustainable development goals. Now we are taking another step and directing 200 million euros towards specialized funds with the highest sustainability criteria, managed by managers meeting such standards. In the pension fund market, an investment of such size into sustainable enterprises is a new phenomenon," Tada Gudaitis, director Swedbank Investiciju Valdymas, said in a statement.

In his words, the investment will go to businesses limiting environmental pollution, using renewable energy resources, promoting responsible consumption and applying good business management practices.

Gudaitis told BNS that Swedbank has invested in seven exchange-traded funds (ETFs), including three BlackRock funds, one Amundi and two DWS funds. The funds contain securities by Microsoft, Total, Intel, Procter&Gamble and Unilever.

Swedbank's II-pillar life-cycle pension funds are managing assets worth around 1.2 billion euros, with over 525,000 people saving for pension in these funds.

BNS
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