Nordic Pension Funds Join Finance for Biodiversity Pledge

Pension funds Andra AP-fonden and Velliv Pension & Livsforsikring are among 13 new signatories which have joined the Finance for Biodiversity Pledge. Andra AP-fonden, a Swedish fund with SEK440 billion (c. US$39.6 billion) in AUM, and Denmark’s Velliv Pension & Livsforsikring take the total of pension funds signed up to the pledge to six. It now has 111 signatories, representing €16.3 trillion in AUM. By signing up to the pledge, financial institutions commit to five steps: collaborating and sharing knowledge, engaging with companies, assessing impact, setting targets and reporting publicly on the above before 2025. The new signatories were welcomed by Lidwin van Velden, CEO of NWB Bank and President of the European Association of Public Banks, at the European Business and Nature Summit. Steen Michael Erichsen, Velliv Pension & Livsforsikring’s CEO, said: “By joining the pledge, we take the first step in taking responsibility for the impact our investments have on the world’s ecosystems. We recognize that without solving the climate change challenge we cannot solve the biodiversity crisis and vice versa”. There will be a further round of signatories in December 2022 at Montreal’s COP 15.  

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