Swedish occupational pension scheme Alecta has backed Swiss impact investor responsAbility with a $100m allocation. The investment, Alecta’s third with the manager, is aimed at climate solutions in emerging markets.
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In a statement, responsAbility says the transaction reflects growing investor confidence in high-quality, large-scale impact strategies. The investment strategy targets opportunities in themes such as energy efficiency, renewables and climate adaptation.
For Alecta, the investment offers lucrative returns for its 2.9m members. “We are pleased to provide funding to a strategy enabling climate-related investments in emerging markets. This investment delivers an attractive risk-adjusted return for Alecta’s customers”, said Ann-Mari Carlsson, a portfolio manager at Alecta.
“The combination of a disciplined approach to the use of proceeds and measurable impact is well aligned with our long-term investment objectives as a pension fund”, she added.
Alecta’s latest responsible investment policy was approved by the board in December last year. It includes fossil fuel exclusions that apply to companies with over 5% of revenue attributable to thermal coal. The fund also excludes investments in fossil fuel expansion. While a majority of investments are managed in-house, the policy includes expectations for ESG performance by external managers.
It marks Alecta’s third commitment to responsAbility. “The continued engagement from Alecta also reinforces the importance of the Nordic market and the strong momentum we are seeing with institutional investors in the region”, commented responsAbility’s chief client and investment solutions officer Stephanie Bilo.
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