The updated sustainability policy has a clear direction focusing on five themes: the climate, biodiversity, water, human rights and labour rights, and corporate governance.
“One theme is biodiversity, and here the policy clarifies our expectations on the companies that the funds invest in”, says Emma Heikensten, Senior Sustainability Specialist at SEB Investment Management.
SEB Investment Management also introduces new exclusion criteria regarding biodiversity and, for example, will not invest in or companies that have a negative impact on endangered species or particularly sensitive areas. Since before, the fund company has excluded companies with verified violations of international standards for biodiversity and that lack clear goals and action plans to address these problems.
The fund company is also sharpening its requirements for corporate governance and will not invest in companies that have sub-standard corporate governance structures with respect to Article 8 and Article 9 funds. (so-called light green and dark green funds).
The policy also integrates the fund company’s position on the climate issue. SEB Investment Management has adopted a target that the fund company’s total assets under management will have net zero GHG emissions by 2040.
“The benefit of these updates is that we are formalising our monitoring and targets in several areas. We are also increasing transparency surrounding our work and the practical effects of it,” comments Emma Heikensten.
The policy will be implemented during the period April-June.