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Ohman Fonder

PRI reporting framework 2020

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - HF 01]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Innovation [SG 18] Communication [SG 19]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (C) Implementation: Integration of ESG factors [LEI 08 - 10] ESG incorporation in passively managed listed equities [LEI 11] Outputs and outcomes [LEI 12 - 13]
Direct - Listed Equity Active Ownership
Overview [LEA 01] Engagement [LEA 02 - 08] Outputs and outcomes [LEA 09 - 11] (Proxy) voting and shareholder resolutions [LEA 12 - 21]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 12] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 06] (B) Implementation: Thematic [FI 07 - 09] (C) Implementation: Integration [FI 10 - 12] ESG incorporation in passively managed fixed income [FI 13] Fixed income - Engagement [FI 14 - 16] Outputs and outcomes [FI 17 - 18]
Confidence building measures
Confidence building measures [CM1 01 - 07]
Export Public Responses
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You are in Strategy and Governance » ESG issues in asset allocation

ESG issues in asset allocation

SG 13. ESG issues in strategic asset allocation

13.1. Indicate whether the organisation carries out scenario analysis and/or modelling, and if it does, provide a description of the scenario analysis (by asset class, sector, strategic asset allocation, etc.).

Describe Öhmans strategy to implement the TCFD recommendations includes conducting climate-related scenario analysis consistent with the recommendations. This will enable us to better anticipate and manage climate risks, as well as identify climate-related opportunities. Öhman is using PACTA to conduct scenario.

13.2. Indicate if your organisation considers ESG issues in strategic asset allocation and/or allocation of assets between sectors or geographic markets.

We do the following

13.3. Additional information. [OPTIONAL]

Öhman is excluding certain sector for our investable universe, since it is our beliefe that they are not aligned with a sustainable development. 

SG 13 CC.

13.4 CC. Describe how your organisation is using scenario analysis to manage climate-related risks and opportunities, including how the analysis has been interpreted, its results, and any future plans.

Describe

Our assessment after interpreting the scenario analysis results is that the portfolio's exposure to fossil fuel extraction and electricity production is in line with SDS (Sustainable Development Scenario), that is, a restriction of the temperature increase in accordance with the Paris Agreement. We have an exclusion criterion on extraction of fossil fuels; hence this reduces our exposure to these climate-related risks in the scenario analysis.

One conclusion is that the automotive industry in general has a major transformation ahead and that current investments in the production of electric and hybrid cars do not meet what would be required to achieve the Paris Agreement. In general, we have a rather limited exposure to the automotive sector, but the exposure we have is not in line with SDS.

However, measuring this with the help of a scenario analysis also comes with certain limitations. For example, earnings are based on estimates of future investments and production. It is also based on a limited number of sectors and hence it does not give a comprehensive view.

We intend to evaluate and develop the method for calculating climate risks in the future. To date, PACTA is a good first step for estimating and assessing the risks and opportunities in our portfolio.

13.5 CC. Indicate who uses this analysis.

13.6 CC. Indicate whether your organisation has evaluated the potential impact of climate-related risks, beyond the investment time horizon, on its investment strategy.

Please explain the rationale

We have a long-term investment horizon and our goal is to evaluate all potential and relevant impacts and climate-related risks.

13.7 CC. Indicate whether a range of climate scenarios is used.

13.8 CC. Indicate the climate scenarios your organisation uses.

Provider
Scenario used
IEA
IEA
IEA
IEA
IEA
IRENA
Greenpeace
Institute for Sustainable Development
Bloomberg
IPCC
IPCC
IPCC
IPCC
Other
Other
Other

SG 14. Long term investment risks and opportunity

14.1. Some investment risks and opportunities arise as a result of long term trends. Indicate which of the following are considered.

other description (1) 

          Just transition

14.2. Indicate which of the following activities you have undertaken to respond to climate change risk and opportunity

Specify the AUM invested in low carbon and climate resilient portfolios, funds, strategies or asset classes.

Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

Specify the framework or taxonomy used.

Öhman has invested 3,5 billion SEK into green bonds.

14.3. Indicate which of the following tools the organisation uses to manage climate-related risks and opportunities.

14.4. If you selected disclosure on emissions risks, list any specific climate related disclosure tools or frameworks that you used.

Carbon footprint according to standard developed by Swedish Fund association (in line with TCFD)

14.5. Additional information [Optional]

SG 14 CC.

14.6 CC. Provide further details on the key metric(s) used to assess climate-related risks and opportunities.

Metric Type
Coverage
Purpose
Metric Unit
Metric Methodology
Climate-related targets 
          Assess whether companies climate targets are in line with Paris agreement and below 2 degrees.
        
          Science-based target
        
          Science-based targets, as defined by the SBT Initiative
Carbon footprint (scope 1 and 2)
Portfolio carbon footprint 
          Portfolio’s exposure to carbon-intensive companies, expressed in tonnes CO2e / $M revenue
        
          tCO2e/$M revenue
        
          Measured for all equity portfolios, with more than 75% reported or estimated CO2 data
Total carbon emissions 
          The absolute greenhouse gas emissions associated with a portfolio, expressed in tonnes CO2e.
        
          tCO2e
        
          Reported and estimated CO2 emissions associated with the equity portfolio holdings
Carbon intensity 
          Volume of carbon emissions per million dollars of revenue (carbon efficiency of a portfolio), expressed in tonnes CO2e / $M revenue.
        
          tCO2e/$M revenue
        
          Measured for all equity portfolios, with more than 75% reported or estimated CO2 data
Exposure to carbon-related assets

14.7 CC. Describe in further detail the key targets.

Target type
Baseline year
Target year
Description
Attachments

14.8 CC. Indicate whether climate-related risks are integrated into overall risk management and explain the risk management processes used for identifying, assessing and managing climate-related risks.

Please describe

Not integrated into overall risk management, this has yet to be more formally integrated. We are working to increase the overall competence and understanding of climate-related risks within the organisation.

14.9 CC. Indicate whether your organisation, and/or external investment manager or service providers acting on your behalf, undertake active ownership activities to encourage TCFD adoption.

Please describe

We undertake active ownership to encourage TCFD adoptation, for example as lead investors for some of the engagement dialogues within Climate Action 100+.

SG 15. Allocation of assets to environmental and social themed areas

15.1. Indicate if your organisation allocates assets to, or manages, funds based on specific environmental and social themed areas.

15.2. Indicate the percentage of your total AUM invested in environmental and social themed areas.

3.5 %

15.3. Specify which thematic area(s) you invest in, indicate the percentage of your AUM in the particular asset class and provide a brief description.

Area 

          Green bonds

Asset class invested

1 Percentage of AUM (+/-5%) per asset class invested in the area
10 Percentage of AUM (+/-5%) per asset class invested in the area

Brief description and measures of investment

Öhman fixed income team invest in green bonds. Öhman also has a green bond fund investing in corporate green bonds

15.4. Please attach any supporting information you wish to include. [OPTIONAL]


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