Life science investor Novo Holdings has published its Responsible Investment Report 2023.
The report describes the progress Novo Holdings has made against the commitments and objectives that the company set itself to accelerate the green transition. The report outlines the investment strategy, approach to responsible investment, and how it is integrating ESG into the investment process. It also outlines accounting policies on greenhouse gas emissions, including an independent limited assurance report on these data.
Key highlights of the report:
• DKK 81bn (EUR11 bn) invested in healthcare across 121 portfolio companies – 22 of which were new investments during the year
• Commitment to contributing to the acceleration of the green transition, with the aim of allocating 10% of total investment funds to technologies and infrastructure supporting this
• 253 patents granted to its portfolio companies reflecting their continual drive for innovation
• In the process of setting 2030 emission reduction targets that are aligned with the Science Based Targets initiative (SBTi)
• Investment commitments of DKK 1.8bn (EUR 241m) in renewable energy infrastructure and DKK 4bn (EUR 536m) invested in bio-industrial companies
• Objective of instilling and communicating the value of diversity, equity and inclusion throughout the portfolio. As part of this, Novo Holdings have introduced diversity targets requiring that by 2027 the boards of all portfolio companies in the EU, UK and Asia should have at least 40% of members from the underrepresented gender, while US boards need to have at least 40% representation from diverse backgrounds
• The ESG Life Sciences Project – collaborated with 21 of Europe’s leading life sciences venture capital (VC) firms, including Sofinnova and Forbion, to harmonise and simplify ESG data collection by creating a singular coordinated ESG data collection model with a focus on the 500+ early stage, innovative companies we collectively support
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