Nordea Asset Management

Hilde Jenssen, Head of Fundamental Equities at Nordea Asset Management (NAM), discusses the global decarbonisation drive and how activities at portfolio level can make a difference.

Why investors should consider a differentiated approach in the current multi-asset correlation crunch

We have witnessed a significant investor exodus from heavy-emitting companies in recent years. The rise of ESG is a key factor in this flight of capital, as asset managers want to demonstrate sustainability credentials.

Environmental and societal issues increasingly challenge cities. Sustainable infrastructure and real estate are essential in addressing them.

Portfolio manager Claus Vorm believes the most successful companies in 2023 will be those with steady earnings and robust balance sheets, which can be stabilising forces against economic weakness and rising rates.

Social bonds and investments in the “S-pillar” of ESG in particular will play a more significant role for investors overall. In the case of social bonds, the terms of issue specify in which social projects the capital proceeds are invested.

After years of seemingly unstoppable momentum behind ESG, the sustainable investment space witnessed heightened debate in 2022.

Les investisseurs ont connu des périodes de turbulences des marchés depuis la crise financière mondiale. Heureusement, les chutes étaient temporaires à chaque occasion, et la tendance d’achat pour les actions et les obligations s’est reprise.

Investors will look back fondly on the decade following the global financial crisis, as unprecedented monetary stimulus and ultra-low interest rates powered one of the most fruitful periods in history for markets – particularly for growth-related equities.

Our society faces a number of incontrovertible challenges. Economically, the current inflationary shock – accelerated by Russia’s invasion of Ukraine– continues to threaten consumers and industry heading into the northern hemisphere winter. Environmentally, we are continually being reminded of the impact of global warming and climate change with increased frequency and severity of coastal flooding, droughts and wildfires.