09 Jun 2020 13:40

SEB’s fund company part of appeal to EU for a sustainable recovery

SEB Investment Management is part of a group of international investors that in an open letter has urged EU leaders to ensure a sustainable economic recovery from COVID-19. Accordingly, the EU should ensure that at least 25 per cent of its long-term budget shall contribute to achieving the climate goals.

“Massive investments will be needed to emerge from the economic crisis, but it may not entail that we lock ourselves into high carbon pathways,” says Elisabet Jamal Bergström, head of sustainability and corporate governance at Investment Management.

“By accelerating the pace in the transition to a climate-neutral economy, we can create jobs and economic growth,” she says.

The letter was coordinated by IIGC (The Institutional Investors Group on Climate Change) and has been signed by more than 100 investors which together represent more than 12 trillion euros in assets.

The letter addresses the importance that the economic recovery measures may not be carried out at the expense of climate action programmes.

Among other things, the letter states: “Beyond the immediate need of relaunching the economy, recovery plans should also include sustainability and accelerate the transition to a net zero emissions economy. The path we choose in the coming months will have significant ramifications for our global economy and generations to come. It is critical that Europe develops just and sustainable recovery plans. As leading investors, we stand ready to help policymakers to invest in a better, more resilient future.”

Read the open letter here: