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newsletter 06/2017

Our topics:

1. Customers

- oekom research provides SPO for Nordea Green Bond Asset Portfolio

- oekom research provides Second Party Opinion to Natixis Real Estate Capital LLC

2. oekom Services

- oekom Facts&Figures: corporate climate risk management

3. Market

- FNG market figures 2017: further growth

- SBI market figures

- Stiftungsfondsstudie 2017 distinguishes sustainability funds based on oekom research data

4. Studies/Publications

- BNP Paribas Investment Partners: Sustainable Investment Study

5. Initiatives

- Finance for Tomorrow – Paris financial centre launches sustainability initiative

- Sweden passes Climate Act

- International environment prize awarded to climate researcher from Potsdam

6. Books

- Dina Ionesco, Daria Mokhnacheva, Francois Gemenne: 
The Atlas of Environmental Migration

7. Events

- SustEcon Conference – The contribution of a sustainable economy to achieving the Sustainable Development Goals

- PRI in Person 2017

8. Jobs

- Senior Manager Client Relations Switzerland (m/f) 



1. Customers

oekom research provides SPO for Nordea Green Bond Asset Portfolio

Nordea, the largest universal bank, asset manager and life and pensions provider in the Nordics, commissioned oekom research to provide a Second Party Opinion for the issuance of its inaugural Green Bond in order to evaluate the sustainable added value of Nordea´s Green Bond Asset Portfolio, from which assets for the Green Bond issuance will be chosen. The assessment and confirmation of the Green Bond Asset Portfolio was conducted using the criteria and indicators of oekom research´s Green Bond Analysis Framework. With the Green Bond Nordea wants to create transparency around funds targeted to climate change mitigation and other environmentally beneficial uses, which in turn create a positive benchmark to all investments.

Aila Aho, Head of Sustainable Financing, Wholesale Banking at Nordea, comments: "The selection of oekom research as SPO provider is based on the company’s high expertise and reputation in this field. We also find the transparency that oekom provides with its category specific criteria very helpful and appriciate the agency´s flexibility in terms of reviewing a large number of categories and assets.“

Contact: Aila Aho, Head of Sustainable Financing Wholesale Banking, Nordea. Email Aila.Aho@nordea.com


oekom research provides Second Party Opinion to Natixis Real Estate Capital LLC

oekom research assisted Natixis Real Estate Capital LLC with the issuance of the first “Green” commercial mortgage-backed securitization (CMBS) with A Rake Tranche Backed by 85 Broad Street Property in Downtown Manhattan, New York, by confirming the sustainable added value and sustainability quality of the underlying asset financed by the 85 Broad Street Whole Loan. 


oekom research’s mandate included the definition of a Green Bond Analysis Framework, the description of the structure of the Green Use of Proceeds Securitized Bonds, an analysis of the alignment of the structure of the Green Use of Proceeds Securitized Bonds against the ICMA’s Green Bond Principles, an evaluation of compliance of the project with the oekom Green Bond Analysis Framework criteria as well as the review and classification of Natixis Real Estate Capital LLC’s sustainability performance on the basis of the oekom Corporate Rating. 

Orith Azoulay, Head of SRI Research Natixis: „The professional support and the high competence of oekom research in regards to validating our project helped us a lot in successfully issuing the 85 Broad Street Loan-Specific Certificates.“

Contact: Orith Azoulay, Head of SRI Research Natixis. Email orith.azoulay@natixis.com


2. oekom Services

oekom Facts&Figures: corporate climate risk management

Position Paper GMOJust how companies are positioned with respect to their climate footprints can be determined by examining their respective risk management efforts based on the oekom Carbon Risk Rating. The underlying analysed Universe comprising the circa 1,600 largest listed companies from industrialised countries has an average Carbon Risk Rating of 28.06 (on a scale from 0 to 100). By comparison, only nine per cent, or 142 companies, achieved an oekom Carbon Risk Rating on the upper half of the scale, i.e. > 50 points.

The comparison value for the Utilities sector, which includes electricity generators, gas utilities, network operators, and water and waste-management companies, is, at 36.5, well above the overall average. In addition, 24.5 percent, or 22 companies, achieved a rating of > 50. Conversely, utilities companies are conspicuously under-represented in the low performer categories of 0-20 points. 

Overall, the findings of the oekom Carbon Risk Rating show that considerable efforts are still needed if the global climate goals are to be met. 

The latest Facts&Figures (issue No 9) containing further information can be ordered free of charge from communications@oekom-research.com.


3. Market

FNG market figures 2017: further growth

Position Paper GMOAt 29 per cent growth, the sustainable-investment markets in Germany, Austria and Switzerland enjoyed above-average expansion in 2016. The latest annual statistics of FNG – Forum Nachhaltige Geldanlagen – show that investments which consider not only financial, but also environmental and social, criteria reached almost EUR 420 billion in the three countries. If investments that only incorporate individual sustainability aspects or strategies are also taken into account, the figure burgeons to over EUR 4 trillion.

The largest growth in sustainable investments was recorded in Switzerland (+39%), followed by Austria (+24%) and Germany (+15%). Amongst institutional investors, the public pension and reserve funds take the lead in Germany and Switzerland, with 43 and 47 per cent respectively. In Austria, by contrast, it is the pension funds (59%). But insurance groups, company retirement schemes, and church and welfare institutions also account for a substantial volume in each country.

The market report can be downloaded here: http://www.forum-ng.org/images/stories/Publikationen/fng_marktbericht_2017_online.pdf


SBI market figures

The Sustainable Business Institute (SBI) has also published new market figures. These found that a total of 428 sustainable mutual funds were licensed for sale in Germany, Austria and/or Switzerland at 31 March 2017. They had around EUR 74 billion under management on the cut-off date (total fund assets). The SBI’s corresponding figures for the end of 2016 were 415 funds with a total of around EUR 70 billion under management (total fund assets). 

When taking into account five funds that were closed since the start of the year or amalgamated with other funds, the SBI fund database’s fund universe thus grew by a total of 18 new funds over that period. These were funds that had either been established for the first time, realigned their strategies with “sustainable” principles, or were already licensed for sale in other countries. The newcomers had a total of around EUR 1.9 billion under management at the end of the first quarter of 2017. 

For further information, please visit: http://nachhaltiges-investment.org/News/Marktberichte.aspx


Stiftungsfondsstudie 2017 distinguishes sustainability funds based on oekom research data

The “FOS Rendite und Nachhaltigkeit” fund, which is managed by Deutsche Oppenheim Family Office AG on the basis of sustainability research supplied by oekom research, was awarded – along with three other funds – the top rating and overall evaluation “Very good” by the Fondsconsult foundation-fund study “Stiftungsfondsstudie 2017”. “FOS Rendite und Nachhaltigkeit” convinced Fondsconsult from both a qualitative and quantitative perspective. The Fondsconsult study appraised a total of 17 foundation funds, with the overall “Very good” rating being awarded four times.

For further information, please read: http://www.fondsconsult.de/admin/userupload/file/Stiftungsfondsstudie%202017_kurz.pdf  


4. Studies/Publications

BNP Paribas Investment Partners: Sustainable Investment Study

According to a poll of German retail investors conducted on behalf of BNP Paribas Investment Partners, every third respondent regards social, environmental and ethical criteria as important starting points for choosing investment products aligned with their own personal needs. Additionally, almost one in five (18%) said they has an extremely great or very great interest in sustainable investments.

A large share of those polled attached importance to the general observation of ESG criteria. 43 per cent, for example, regarded ethical investment aspects, such as the exclusion of weaponry, as extremely or very important, while 42 per cent said that observance of social standards, such as work safety or fair pay, was extremely or very important. For 34 per cent of the interviewees, environmental criteria, such as renewable energies or environmental protection, were extremely or very important. 

Over 1,000 retail customers aged between 18 and 65 were polled by an online panel in mid-February 2017 on behalf of BNP Paribas Investment Partners. The study can be read at: http://bit.ly/2uhDKse


5. Initiatives

Finance for Tomorrow – Paris financial centre launches sustainability initiative

Position Paper GMOWith Finance for Tomorrow, the Paris financial centre has launched an initiative to promote and support sustainable investment, both in France as well as in other countries. Its goal is to direct money flows in the direction of a carbon-free, inclusive economy. In doing so, the initiative is guided by the 2015 Paris Global Climate Accord, and the United Nations’ Sustainable Development Goals (UN SDGs).

Other cities have also launched initiatives to promote sustainable investment. These include, besides Frankfurt am Main, London (greenfinanceinitiative.org/) and Luxemburg (luxembourgforfinance.com).

For further information, please read: http://financefortomorrow.com/wp-content/uploads/2017/06/DP_UK.pdf 


Sweden passes Climate Act

Sweden aims to reduce its “net” emissions of environmentally harmful gases to “zero” by 2045. This is the goal of the Climate Act recently passed by the Swedish parliament. Under the Act, Sweden’s emissions are to be cut to just 15 per cent of their 1990 levels by 2045. A 63 per cent reduction is planned by 2030 and 70 per cent by 2040. The Climate Act will take effect at the start of the coming year. In doing so, Sweden becomes the first country to tighten the national climate goals which it set out for itself in the Paris Climate Accord.

For further information, please visit: http://www.climatechangenews.com/2017/06/15/sweden-passes-climate-law-become-carbon-neutral-2045/ 


International environment prize awarded to climate researcher from Potsdam

This year’s prestigious “Blue Planet Prize” was awarded to climate scientist and director of the Potsdam Institute for Climate Research, Hans Joachim Schellnhuber. The JPY 50 million Blue Planet Prize recognises visionaries who have developed landmark approaches to solving global environmental problems. Schellnhuber receives the prize for his groundbreaking contribution towards establishing the 2°C limit for global warning, which the international community agreed to in the Paris Climate Accord.

For further information, please visit: http://www.af-info.or.jp/blog/b-info_en/announcing-the-winners-for-2017-blue-planet-prize.html 


6. Books

Dina Ionesco, Daria Mokhnacheva, Francois Gemenne: 
The Atlas of Environmental Migration

Position Paper GMOThe number of people who are fleeing war, persecution and conflict has never before been as high as it is today. At the end of 2015, 65 million people were on the run worldwide. But what if a further 200 million were to join them in the coming decades? Migrants forced to flee the impact of climate change in the form of rising sea levels, forest fires, drought or lack of drinking water? 

The “Atlas of Environmental Migration” looks at the enormous challenge confronting humankind in the 21st century. In a style similar to that of the Le Monde diplomatique “Atlas of Globalisation”, it informs for the first time on every aspect of the complex topic “environmental migration”. 

For further information, please visit 
https://www.oekom.de/nc/buecher/gesamtprogramm/buch/atlas-der-umweltmigration.html


7. Events

SustEcon Conference – The contribution of a sustainable economy to achieving the Sustainable Development Goals

The focus of the September 25-26 conference in Berlin will be the contribution which a sustainable economy makes to achieving the United Nations’ Sustainable Development Goals (UN SDGs), whereby this contribution can manifest itself at various levels: innovations for achieving the SDGs are to be just as much a topic of the conference as questions on the methodologies used to measure sustainability, various discourses, and concepts and their contributions / differences with respect to sustainable economics. The conference will also address other topics such as the underlying (political) conditions for, and barriers to, a sustainable economy in context, and the contribution which science makes towards achieving the SDGs.

The event is being organised by the project group “Wissenschaftliche Koordination der Fördermaßnahme Nachhaltiges Wirtschaften” (NaWiKo). 

For further details, please visit http://nachhaltigeswirtschaften-soef.de/en/sustecon-conference


PRI in Person 2017

Position Paper GMOoekom research will be participating in the PRI initiative’s annual conference “PRI in Person”to be held in Berlin from 25-27 September 2017. A team of oekom research experts will be introducing the rating agency at its very own information stand. The conference is expecting over 800 delegates from over 25 countries, providing a venue to exchange ideas and information on the latest trends, best practices and fundamental questions about sustainable investments.

For further information, please visit:https://www.unpri.org/Berlin2017  


8. Jobs

Senior Manager Client Relations Switzerland (m/f) 

oekom research AG has already been serving clients in Switzerland for many years, and is now looking to expand its market presence there. We are therefore seeking a Senior Manager Client Relations Switzerland (m/f). Your duties will be, inter alia, to: establish an oekom research representative office in Switzerland; design, implement and monitor the success of the sales measures; and acquire and support new and existing customer in the Swiss region. You should have: several years’ experience in sales; an appropriate network in Switzerland, ideally in the area of financial services; knowledge of the SRI market; and interest in the field of sustainability et al. You work location will be Switzerland. This is a permanent position to be occupied at the earliest possible opportunity.

For further details about the vacancy, please visit: https://short.sg/j/1057726. 


top news

oekom research provides SPO for Nordea Green Bond Asset Portfolio

2017/06/30

Statement on the USA´s termination of the Paris Climate Agreement

2017/06/06

oekom Corporate Responsibility Review 2017

2017/04/05

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