Storebrand AM's new sustainability analyst: The rapid uptake in ESG makes role exciting and versatile

Career Path: Victoria Lidén plans to use her past experience analyzing green data to help the Norwegian pension insurer achieve net zero-emissions in its portfolio.
Victoria Lidén started as sustainability analyst at Storebrand Asset Management in June 2021. | Photo: PR / Storebrand Asset Management
Victoria Lidén started as sustainability analyst at Storebrand Asset Management in June 2021. | Photo: PR / Storebrand Asset Management
BY MARIA R. HOFFMANN

Which career path did you imagine for yourself when you were younger?

"I've always been interested in societal issues. When I was younger, I thought I wanted to work with foreign affairs and international development and those kinds of issues. I've always been very value-driven, so early on I knew that I wanted to work with something that actually created value for society at large.

But later I also realized that I wanted to do this within a context of a for-profit business, so I discovered a field called CSR [Corporate Social Responsibility, ed.] and I began exploring that further."

When did you realize that you wanted to work with your interest in a more corporate context?

"I think it was quite early on. I was inspired by different prominent sustainability leaders at that time, such as Anna Ryott and Parul Sharma, that were talking about CSR issues. I also took a course where I had an assignment about microfinance; it was a project focusing on whether we would grant a microfinance loan to a farmer in Bangladesh, and we had to evaluate the loan from both an environmental and social perspective.

I think that was something that really stuck with me. I realized that you could work with these things in a different context than pure foreign affairs or international development."

When did you decide on the career path you have now?

"It really kicked off when I moved to Stockholm to start my university studies. I decided to also apply to different evening courses to deepen my understanding of CSR and sustainability issues. At that time, which was just a couple of years ago, sustainability was not a part of the business studies curriculum, so I decided to also participate in evening classes at both CSR Sweden and Stockholm Resilience Center.

Those classes really confirmed my interest in CSR. I was able to sit in a classroom with directors and managers from large corporations discussing human rights, supply chain risks, due diligence and all those things – it was really fascinating.

During my studies in business and economics I also found the finance courses very interesting. Understanding how the capital markets operate, and that investors could be a force for good, was an eye-opener.

So, the idea of directing capital flows in a more sustainable direction was an appealing insight to me. When I finished my studies, I saw ESG as this great opportunity – to be able to combine the best of both worlds with sustainability and finance, and that is the reason I've been working with it for the past six years."

Which part of your education have you used the most in your career so far?

"I would say it is probably those evening classes that I took in addition to my education in business and economics. The framework and issues we discussed on those courses are still very present in my everyday work, so I get a lot of use out of those. I also spent a semester at National University of Singapore which was very rewarding in many ways.

In particular, I took one class where we learned about the stakeholder-theory framework, which is key to understanding what drives sustainability in the market today, I would say. Taking an exchange semester was also rewarding in general, being able to learn about different aspects of culture and business and such – that was very valuable.

When were you in Singapore?

"That was back in 2014."

Which part of your CV represents the biggest change in your career so far?

"I wouldn't say a part of my CV, but something that represents a big change for me and my career in general is the year 2015 – a "super-sustainability year". Because that year we saw the adaptation of the Sustainable Development Goals as well as the Paris agreement.

I remember sitting at my desk at that time watching as it happened and thinking ‘this is really happening!’. The sustainability movement has really accelerated since then. So, the global agreements we saw that year have also influenced what I work with today: how we look at and evaluate companies as an integral part of investment decision-making, through a Paris alignment and SDG lens.

 I think that year truly represents a big change on a larger scale for the world, but also for my career on a more personal level."

What is the best part of the professional position you have now?

"I've been working with the issues I have mentioned for some years now, and I think that Storebrand has a very strong position within the field. I am looking forward to accelerating work that is already being done. Specifically, I will be focusing on the Swedish and the Nordic companies. I spend a lot of time engaging with them as active owners, and I think that is the best part of my professional position.

I enjoy being able to support companies in the transition they are making. And of course, we have also witnessed a rapid uptake of ESG in just the last couple of years. A lot is happening right now, which makes this work very versatile and exciting. Being at the forefront of the changes that are happening right now is really fun."

Which leader in the business has inspired you the most?

"There are so many leaders within the sustainability field that inspire me. But there is person that comes to mind, when you ask that question, and that is Hans Rosling. I attended one of his classes at Stockholm Resilience Center, when I was participating in the evening courses on sustainability.

On a dark December day, two months before he sadly passed away, he held a very warm and personal lecture, and that stayed with me for a long time. He was very human-centric and fact-based and he was also quite optimistic. That is something I keep going back to when things look gloomy in the world."

What preoccupies you at this moment in time?

"There is a lot on my mind right now. Starting in my new position at Storebrand preoccupies me of course, and it is very exciting. There are many thrilling things happening now in general; like the EU sustainable finance regulations, which will play an influential role going forward. So that's on top of the agenda, and I always try to have an eye out for the new regulations coming into force. Also, the climate strategy that we have adopted at Storebrand, and how we can achieve net zero-emissions in our portfolios – that is something I’m looking at.

I'm also preoccupied right now with exploring the interconnections between the different ESG issues. For example: it’s significant to me to highlight the importance of not only confronting climate change but confronting the loss of biodiversity, and how they are interconnected. It's important to have a holistic mindset."

Is that a focus in your professional position, or is it also on your mind in general?

"I think it overlaps. But it is something that I will focus more on in my professional career going forward. Understanding the systemic risks and financial risks connected to sustainability issues, and the interconnection between those issues, is important in understanding how we can address the issues as investors."

When you work with these large-scale issues, can you leave those worries and insights at the office at the end of the day? 

"Of course, there is also an overlap there, but I live just outside the city center in Stockholm, and it is quite close to nature.

"We are close to the forest, so I like to go for a walk in the woods to clear my mind, when I am not working. I think that is very helpful. Especially now where we have been working from home for around a year, I believe it is important to find those moments where you can separate your work life from your home, and nature does that well."

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