Nordea Asset Management (NAM) has announced this week its plans to open an ESG hub in Singapore by the end of the year in response to its “growth and successes” in the region. In a press release, the asset manager has revealed that this is a strategic decision to establish its first ESG hub outside of its Nordic headquarters.
In this sense, they believe that the hub will allow them to be closer to clients in Asia-Pacific and better understand how companies are embracing sustainability in the region. “NAM is pleased to establish an ESG hub in Singapore, which will enable us to enhance our local servicing, ESG capabilities, investment platform and distribution reach in the region. Sustainability issues have gained significant interest in Asia in recent years, and investors are increasingly asking for ESG solutions. The time is right to meet that demand,” says Nils Bolmstrand, CEO of Nordea Asset Management.
The asset manager has explained that Singapore is an attractive choice for its first overseas ESG hub due to its stable investment environment and the government’s commitment to tackle the problems of carbon emissions and embrace the doctrines of sustainable finance. In its view, Singapore’s Green Finance Action Plan, launched in 2019, marks “a significant step in the country’s transition towards a sustainable future”.
NAM’s new ESG hub will supplement its local Singapore distribution office, established in 2013, and will be fully integrated with NAM’s ESG-focused internal investment boutiques as well as NAM’s award-winning Responsible Investments team. The plan is to start implementing the hub in the latter part of 2021.