Nykredit Asset Management
Nykredit Asset Management is the Denmark-based asset management arm of the Nykredit group with 41 offices across the country. It joined the Net Zero Asset Managers Initiative on 29 March 2021 and its initial target disclosure was published on 1 November 2021.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
100% of total AUM (USD $78.7 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Portfolio coverage baseline
CO2e: N/A. We are currently in the process of setting up a data warehouse that supports emissions data across holdings, funds and asset classes, but for now not available. Net zero pathway alignment: ~70%
Portfolio coverage target
100% of AUM aligned with a pathway to net zero by 2050 at the latest, based on NZIF methodology
Portfolio decarbonisation reference target
60% emissions reductions (intensity-based)
GHG scopes included:
Current target is set for Scope 1 & 2 emissions, but we aim to integrate Scope 3 emissions in the target, while maintaining the ambition of the target.
Net Zero Investment Framework
IEA Net Zero 2050 Scenario
Policy on coal and other fossil fuel investments:
https://www.nykredit.com/ siteassets/samfundsansvar/filer/politik-for-baeredygtige-investeringer_2021_uk.pdf Nykredit’s Sustainable Investment Policy stipulates that extreme climate laggards (including activities linked to thermal coal) are engaged or excluded. Likewise, Nykredit engages material emitters in the portfolio on climate-related matters. Our voting policy reflects our support of the goals of the Paris Agreement. Nykredit is in the process of implementing a revised fossil fuel policy, based on the IEA 1,5-degree scenario, due to be finalized before 2022.
Target Setting: Nykredit is a global investor (IPCC 50% reduction target), with our primary investment activities in Europe (EU 55% reduction target) and Denmark (70% reduction target). Following these targets and taking into account our aim to contribute to global sustainable development, while maintaining our commitment to clients who prefer a broad investment universe, our target for 2030 is 60% emissions reduction.