SEB Investment Management has announced a strengthening of its sustainability policy including the exclusion of fossil fuels from all of its funds.
The firms also said that its model for including companies is being refined so that greater consideration for example is given to long-term sustainability based on an updated climate strategy. A new climate strategy means that the company’s total capital should be invested carbon neutral by 2040.
The new sustainability policy means during the first quarter of 2021 the firm will introduce exclusion rules to all funds including fossil fuels, tobacco and commercial gaming. The exclusion criteria regarding fossil fuels is broadened and all funds will exclude the extraction and production of fossil fuels as well as power generation and distribution connected to fossil fuels.
”We now take another leap forward when it comes to future-proofing our funds based on our view of sustainable development and future return possibilities,” says Javiera Ragnartz, Head of SEB Investment Management. “Our ambition is to invest in companies with long-term sustainable business models, while all funds will at the same time exclude fossil fuels.”