After the latest sustainability analysis of the Energy sector, SPP has excluded 13 coal and 6 oil sands companies from all investments.
– The aim of these exclusions is to reduce Storebrand's exposure to fossil fuels and to secure long term, stable returns for our clients says, Stina Billinger, Head of Sustainaïlity, SPP/Storebrand
– If global ambitions to limit global warming to less than 2 degrees Celsius become a reality, many fossil fuel resources will become unburnable and their financial value will be dramatically reduced. Exposure to fossil fuels is one of the main sustainability challenges facing business, so for us it is a logical and necessary step to adjust our investments accordingly, continues Billinger.
Storebrand and SPP (Sweden) employs one of Scandinavia's most experienced Sustainability teams, and works systematically to ensure the companies they invest in are well positioned for tomorrow's sustainability challenges.
Secure long term financial returns
– The exclusion of 13 coal and 6 oil sands companies raises our sustainability standards to a new level. We continually seek to improve our existing practices, both in order to stimulate sustainable development, and to systematically reduce risk for our clients says Billinger before adding
– We do not offer 'ethical funds' at Storebrand. The same high sustainability standards apply to each and every company and sector. This offers an unprecedented level of security for our clients. No matter which fund or portfolio their assets are invested in, the same high standards apply.
As a direct result of these higher standards for fossil fuels, all 13 coal producers in the Energy sector (MSCI All Countries index) are excluded. In addition the exclusion covers the 6 oil companies that have the highest exposure to oil sands, measured by both actual production and reserves.
In total Storebrand has excluded 177 companies and 32 countries for breaches of the company's minimum standard for sustainable investments.