Jyske Capital
Jyske Capital is the asset management division of Jyske Bank and functions as investment manager for all Jyske Invest funds and Jyske SICAV funds. Jyske Capital joined the Net Zero Asset Managers Initiative in July 2021 and made its Initial Target Disclosure in November 2022.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
50% of total AUM (USD $10.6 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
Portfolio decarbonisation reference baseline
31 December 2019 for covered bonds and 31 December 2020 for equity.
Equity: 61.7 Scope1+2 tCO2e/mUSD EVIC for MSCI ACWI . Danish asset backed bonds: 0.825 tCO2e/mUSD
Target(s):
Portfolio decarbonisation reference target
Equity: 60% lower than baseline EVIC scope 1+2 intensity in 2030 compared to 2020 and 30% lower in 2025. Danish asset backed bonds: 40% lower Loan-to-value adjusted GHG intensity in 2030 than in 2019.
Equity:
Target level in 2025=43.2 tCO2e/mUSD
Target level in 2030=24.7 tCO2e/mUSD
Danish asset backed bonds:
Target level in 2030 = 0.495 tCO2e/mUSD
GHG scopes included:
For equities: top-down targets include Scope 1+2. Bottom-up targets for a number of equity funds also include total estimated scope 3 for energy and mining sectors. Further phase-in of scope 3 will take place when estimation technology is further developed by data providers. For Danish asset backed bonds: housing real estate exposure is estimated as scope 1+2 from total direct energy use. For commercial/industry property exposure the coverage also include estimates of scope 1+2 from the business activity taking place in the property.
Methodology:
Net Zero Investment Framework
Scenario(s):
We use the IPCC special report on global warming of 1.5°C P2
Additional information
Proportion of AUM committed:
The focus initially has been on listed equity and Danish asset backed bonds which is a significant part of total AUM. The asset backed bonds are primarily used to finance private and commercial real estate, and we believe that we are in a unique position to influence this EUR 290 bn market as an investor. Government bonds were not included initially due to unclarity around methodology. We will work from a bottom-up perspective on the USD 2.5 bn exposure to corporate bonds and expect to add these assets before 2025. The remaining 2.5% of assets is invested in asset types and cash which are not covered by the chosen net zero framework.
Policy on coal and other fossil fuel investments:
No, we do not currently adopt a science-based policy on coal and other fossil fuel investment. We are working on a company-wide climate policy which will include a policy section on coal and other fossil fuels.