Storebrand AM and KLP weigh in on controversial ESG proposal

A recent article in The Economist has sparked a debate on whether to narrow ESG factors down to carbon emissions.

Arild Skedsmo, senior analyst for responsible investments at Norway’s biggest pension fund KLP. | Photo: KLP

Earlier this week, Trym Riksen, head of portfolio management at investment manager and advisory Gabler, wrote a column in Norwegian business daily Dagens Næringsliv concerning how to measure ESG and sustainable investments.

In the column, he described the inclusion of scope 3 emissions (emissions from the entire value chains of firms, not just their energy use and operations) as an important step towards understanding the whole picture when it comes to emissions, pointing to a study that found that 90% of all emissions caused by firms happen elsewhere in the value chain.

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