Danske Bank raises the bar on sustainable investment targets to support green transition

New targets for ESG and sustainable investments funds and a commitment to support the goal of net zero greenhouse gas emissions by 2050 or sooner will strengthen Danske Bank’s ability to create customer value and support the transition to a more sustainable society.

To support society’s sustainability goals and the transition to a low-carbon economy, Danske Bank is launching new sustainability targets for Asset Management, that supplement the Group’s previously communicated target on sustainable investments . The new targets serve as a volume update, whilst aligning definitions with the new EU taxonomy on climate change mitigation and adaptation.

Short term, the goal is that customers will be able to increase their investments in funds promoting environmental or social characteristics to DKK 400bn, up from around 230bn at present. In addition, the goal is to funnel at least DKK 150bn into sustainable investment products by 2030.

The new targets commit us to expand our product offering and help customers invest via products that promote sustainability or have sustainability objectives. Moreover, the new goals are set in accordance with the new Sustainable Financing Disclosure Regulation.

“Setting measureable and ambitious targets for our efforts within responsible investments are cornerstones in delivering on customer expectations looking ahead. We will continue our efforts to strengthen and expand our ESG product shelf, and innovate new sustainable investment products, which we expect to be able to offer in the near future. By doing so, we will advance in our ambition of becoming a facilitator to sustainable change.”

- Christian Heiberg, Global Head of Asset Management

Net zero greenhouse gas emissions
Long term, Danske Bank is stepping up efforts to support society’s ambition of decarbonising the economy. We recently signed the Net Zero Asset Manager Initiative, which represents a group of international asset managers committed to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with the Paris Agreement.

Stephanie Pfeifer, CEO, Institutional Investors Group on Climate Change and Founding Partner of the Net Zero Asset Managers initiative says:

“I am delighted to welcome Danske Bank to the Net Zero Asset Managers initiative. This is a vital decade with urgent action needed to meet the goals of the Paris Agreement and limit global warming to 1.5°C. Asset managers, including Danske Bank, coming together to commit to net zero targets sends a clear signal that the financial firepower of institutional investors will be dedicated to delivering real progress towards a net zero and resilient future.”

Learn more about the Net Zero Asset Manager Initiative here.

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