Evli, the Finnish fund and services provider, has announced that responsiblity has become one of its strategic focus areas, above and beyond existing integration of responsibility into its portfolio management.
The move will see it establish a Responsible Investment Executie Group, which, in addition to the CEO will include executives from the legal and risk management, institutional, and private clients departments, and the portfolio management and responsible investment team.
Maunu Lehtimäki, CEO of Evli Bank, said: "Responsibility has become an increasingly important factor for our customers, and we want to highlight the importance of its further development by making it a strategic focus area. In addition, climate change mitigation has always been important to us. We want to create products that will address the challenges of climate change and set concrete goals for our operations."
The business aims in the next few years will include renewing ESG reporting, deepending ESG integration into portfolio management, launching new responsibility funds and setting climate targets.
Evli is excluding tobacco manufacturers from all funds with a 5% revenue limit. Its climate change principles are being tightened, with oil sand extraction being added to excluded sectors with a 30% revenue limit. (https://pankki.evli.com/hubfs/Evli.com/Documents/Responsibility/EN/Evli-Wealth-Management_ClimateChangePrinciples_CarbonFootprintData.pdf )
Controversial weapons makers and thermal coal companies with a revenue limit of 30% and companies producing peat for energy production have already been excluded.