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Ohman Fonder

PRI reporting framework 2020

Export Public Responses

You are in Direct - Fixed Income » Outputs and outcomes


FI 17. Financial/ESG performance

17.1. 債券におけるESG分析の組み入れが投資結果やESG実績に与えている影響を組織が測定するのかどうかを明示してください。


17.2. 債券におけるESG分析の組み入れが投資結果やESG実績に与えている影響を、組織がどのように測定するのか説明してください。 [任意]

We measure the ESG profile of the portfolios in our Risk Monitor tool, which is then discussed at regular meetings.

17.3. 補足情報 [任意]

FI 18. Examples - ESG incorporation or engagement

18.1. ESG分析の組み入れや発行体のエンゲージメントが、報告年度中に組織の債券投資結果に与えている影響例を示してください。


We came to the conclusion that certain consumer banks to be particularly exposed to high ESG risk. Partly due to the fact that household debt has been growing to a larger extent than the disposable income for the last couple of years, which is not sustainable in the long-term. But also due to the regulatory risks related to predatory lending, lack of robust product governance practices and aggressive marketing. We identified the issuers in our universe that were not as well prepared to manage these regulatory and reputational risks. This was the conclusion from a discussion between the ESG team and portfolio manager.


Based on the above identified ESG risk factors, we made an assessment of the different consumer banks in our universe and decided to divest certain issuers. We did decide to stay invested in those issuers we percieved as more well-managed and prepared to handle these risks, or with lower exposure to consumer loans in particular.

Read more about this decision here (in Swedish): 


We have continued to increase our investment in green bonds. 


Examples of green bond investments are Wallenstam and Heimstaden (identified as green and rising stars from a sustainability standpoint), Vacse (robust green bond framework and clear targets), Electrolux and Stora Enso (science-based targets, clear targets on emission reductions and the green bond framework connected to the overall sustainability strategy). In total we have approx. 3bn in green bond investments. 


One of the largest airport operators announced a green bond issuance. After having evaluated the green bond framework, we (ESG team + PM), came to the conclusion that the issuance would enable an investment in the expansion of the airports, hence also an increased flight capacity and net-negative climate impact.


We decided that we would not participate in the transaction, given that it was not suitable for green financing and also because the green bond framework could have been further connected to the the issuer's overarching sustainability targets.


We have had an engagement dialogue with a real estate company. The engagement was initiated over a year ago due to the fact that they did not have as pronounced sustainability focus as many of their peers n the real estate industry. However, we saw that there was potential for improvement. 


In April 2019, the company adopted science-based targets, which is in line with what we have encouraged and something we consider positive.

18.2. 補足情報 [任意]