Ircantec, one of France's largest public pension plans, has appointed Nordea Asset Management (NAM) to manage an €800mglobal equity mandate focused on decarbonisation.
In partnership with ODDO BHF Asset Management, NAM will oversee a customised active global equity strategy designed to help Ircantec meet its goal of a 7% annual reduction in CO2 emissions.
Ircantec, a French pension scheme for non-permanent government employees, has more than €17bn in assets under management. The new mandate, which was launched in January 2025, is structured within a French-domiciled fund hosted by ODDO BHF AM. NAM will manage the mandate using its BetaPlus Responsible Enhanced Equities Strategies, incorporating proprietary decarbonisation tools to track progress toward net zero.
The mandate will be managed by NAM’s Multi Assets Team, which has over 15 years of experience with BetaPlus strategies and €60bn in assets under management. NAM’s Responsible Investments Team will also play a key role in evaluating companies based on their sustainability contributions.
Just last month, Ircantec also committed €250m to Nomura's sustainable equity strategy, a mandate which is set to be scaled to reach €1.8bn.
Ircantec has pledged to invest 15% of its assets in the transition and divest from fossil fuel assets by 2030.
