Nordea Asset Management has announced the launch of the Nordea 1 Global Climate Engagement Fund.

The fund, an Article 8 vehicle, targets companies in the earlier stages of transitioning towards sustainable business models and aims to curb real CO2 emissions. The fund is managed by Alexandra Christiansen and Robert Madsen, members of NAM’s Sustainable Thematic team, which is headed up by Thomas Sørensen and Henning Padberg, the managers of the Global Climate and Environment Fund.

Alexandra Christiansen, portfolio manager of the Nordea 1 – Global Climate Engagement Fund, comments: “Over the past few years we have witnessed a meaningful flight of capital out of areas of the market deemed ‘not green enough’ and potentially at risk in the transition to a net zero emissions world. Yet we believe many businesses that are carbon intensive today will still be relevant in the future green economy – or even critical to enabling the energy transition. Our goal is to generate alpha by de-risking the fundamentals of these companies through engagement on decarbonisation targets, strategy, and capital commitments.”