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.
Information on climate target(s)
Baseline(s):
Portfolio decarbonisation reference baseline
Danish asset backed bonds: 5.39tCO2e/DKKmn invested.
Portfolio decarbonisation reference baseline
Equity: 61.7 Scope1+2 tCO2e/$mn EVIC.
Corporate bonds: 155.5 Scope 1+2 tCO2e/$mn EVIC.
Target(s):
Portfolio decarbonisation reference target
Equity:
- 60% lower than 2020 level of MSCI ACWI EVIC intensity in 2030.
- Target level in 2030: 24.7 tCO2e/$mn.
- Achieved: 30% lower than 2020 level of MSCI ACWI EVIC intensity in 2025 / Target level in 2025: 43.2 tCO2e/$mn.
Danish asset backed bonds:
- 40% lower loan-to-value adjusted CO2e intensity in 2030 than the portfolio level in 2019
- Target level in 2030: 3.2 tCO2e/DKKmn
Corporate bonds:
- 60% lower in 2030 than a 30/70 mix of investment grade and high yield benchmark EVIC intensity in 2020
- Target level in 2030: 62.2 tCO2e/$mn
As an example of how we work with the overall decarbonisation objective, we have set specific decarbonisation objectives at the strategy level for many of our investment solutions. This has the effect that portfolio managers will work with a GHG budget as part of their day-to-day operation.
Methodology:
Net Zero Investment Framework
Percentage of assets covered by climate targets
77% of total AUM (USD $22.5 billion)
Additional information
Further information:
For equities and corporate bonds we believe that the target is a stronger commitment than what is required to fulfil the fair share of 50% global reductions. Our approach is to increase investment in transition companies and limit the use of exclusions which means that we are dependent on real economy transformation. This will be achieved through engagement and by shifting investments towards transition ready companies.
For Danish asset backed bonds, there is no readily available methodology to use. We have set a discretionary footprint reduction target of 40% by 2030 and will evaluate how this target is aligned with climate scenarios as data and methodologies are developed.
CRREM 1,5 degree aligned real estate pathways have been evaluated but currently only a fraction of the issuers report in intensity terms per real estate category. We believe that CRREM will be a useful reference once more issuers begin to report in intensity terms.