​Two CDP Europe Awards to Storebrand Asset Management

Two of Storebrand Asset Managements funds are recognized as top climate performers at the CDP Europe Awards in Paris. Storebrand/SPP Global Solutions amongst the winners in the global equity category and SPP Emerging Markets Plus amongst the winners in the emerging markets category.

The ranking of funds is based on new data from the climate rating for funds, Climetrics, launched by non-profit CDP and ISS-ESG in 2017.

Climetrics independently rates around 17,000 global funds and issues ratings on a scale of ‘1-leaf’ to ‘5-leaf’ using a best-in-universe approach.

The top five actively managed funds for each category were selected based on their underlying Climetrics score, chosen from hundreds issued with a ‘5-leaf’ Climetrics rating in the European equity and global equity categories. The top five funds in the emerging markets equity class were also awarded.

- Our Emerging market Plus fund receives this prize as a broadly diversified, core-holding style fund. This is a nice proof that it's possible to take climate considerations into the core of institutional portfolios, and we're happy to have received this recognition of our work, says Henrik Wold Nilsen, Portfolio Manager of SPP Emerging Markets Plus.

- It is also a recognition of many years of hard work of the organization as a whole. The importance of investing in a line with the UN Sustainability Development Goals is clear, portfolio manager of Storebrand Global Solution, Philip Ripman concludes.

About the ranking:The ranking is based on Climetrics’ new underlying methodology, which is public. It measures the performance of a fund’s holdings, its asset manager’s governance of climate issues, and its investment policy, to help investors find funds well-positioned in the transition to a low carbon economy.

The rating is most affected by a fund’s holdings, so is heavily influenced by the active investment decisions taken by fund managers. Using data from CDP, ISS-ESG and other sources[1], Climetrics calculates how well companies in a fund’s portfolio disclose and manage material risks and opportunities related to climate change, water security and deforestation, which are key climate-related concerns for financial markets.

The methodology now uses a new materiality factor to calculate scores at a portfolio level. This gives higher scores to stocks which have highly material climate, water or forests risks but disclose and manage them well, for example by setting science-based targets to reduce emissions in line with the level needed to limit global warming to 1.5°C.