BankInvest Asset Management Fondsmæglerselskab A/S
BankInvest Asset Management Fondsmæglerselskab A/S is a Danish asset management and investment fund providing services to clients in Denmark. It joined the Net Zero Asset Managers Initiative on 20 April 2021 and its initial target disclosure was published on 1 May 2022.
43% of total AUM
initially committed to be managed in line with net zero
USD $9.3 billion
currently committed to be managed in line with net zero
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Portfolio decarbonisation reference baseline
87tCO2e / USD mn invested
Portfolio decarbonisation reference target
Reduce portfolio emissions by 55% in intensity terms
GHG scopes included:
Scope 1 and 2. Scope 3 will be incorporated once data availability and quality reach sufficient levels.
Net Zero Investment Framework
The IPCC special report on global warming of 1.5°C has guided our target setting. A 55% reduction by 2030 corresponds to approx. 7.5% yearly reduction based on the benchmarks for the committed funds. Combined, the benchmarks associated with the committed strategies are broad-based and global in nature and thus considered applicable for the global reduction requirement as specified by the IPCC special report.
Proportion of AUM committed:
Some strategies have been excluded from our initial commitment due to insufficient data. Data availability and quality will be monitored and expected to improve over time. Our initial commitment represents AUM only in asset classes for which there are well established methodologies with data access from third party data providers.
BankInvest applies PCAF models. For segregated mandates, client approval is required. BankInvest has initiated dialogue with our clients to grant this approval. Lastly, we believe it is critical that our net-zero targets and action plans are well supported by data, tools, and internal systems. Now that our initial commitment is rolled out and tested, we will continue working towards expanding our committed AUM to reach 100% asset coverage by 2040.
Policy on coal and other fossil fuel investments:
BankInvest has a general ban on investing in companies in which more than 5% of the revenue comes from extraction of coal and production of tar sands. The ban applies to all assets under management.
Target setting: Data and methodology on companies’ net zero alignment is deemed immature for target setting purposes. BankInvest intend to set targets for Portfolio Coverage and Engagement Thresholds when data and metrics become more mature. We are continuously looking into data coverage and frameworks that will enable us to set an asset alignment target in the future.
The same applies to metrics and data for climate solutions. Targets for the allocation on these are work in progress and expectedly dependent on the evolution of the EU Taxonomy as the new classification system for investments in climate solutions. We expect the data availability and quality to increase significantly in the coming years as companies become subject to the reporting obligations of the EU Taxonomy and Corporate Sustainability and Reporting Directive (CSRD). BankInvest collaborates with external data providers on the provision of data.