|Storebrand’s Administrative Director Staffan Hansen. Photo credit: Storebrand.|
By Anders Lorenzen
The Scandinavian investment company Storebrand made headline news last year when it divested fossil fuel stocks from coal and tar sands. This year they followed up their sustainability ambition by first excluding coal companies from their investor portfolio and thereafter a list of palm oil companies on the grounds that their sourcing of palm oil caused deforestation. Now they’re at it again, but this time they’re investing in green solutions. The company announced they’re investing 325 million Swedish Kroner (SEK) in green investments primarily renewable energy and energy efficiency.
Storebrand’s daughter company SPP are investing the sum in the Swedish paper company Svenska Cellulose Aktieobolagets (SCA) green bond. Storebrand is one of the main investors in the green bond of which the total investment is 1.5 billion SEK.
Staffan Hansen, Administrative Director in Storebrand Asset Management says that the interest in green bonds has increased and he thinks we will soon see the uptake accelerate. “Green bonds are a fantastic opportunity for us investors so that we can secure our customer’s returns and at the same time contributes to sustainable development. But it’s also a good opportunity for the companies who borrow the money, to show action and the road to a green transition’’, Hansen commented.
It’s not the first time Storebrand has invested in green bonds, in total, the investment company have invested 2.5 billion SEK in green bonds.
Hansen expressed surprise that not more companies to date have chosen to place their money in green investments, he says more companies should have the capacity to do so.