Fondita Sustainable Europe meets the Nordic Swan Ecolabel’s new stricter sustainability requirements
Fondita Sustainable Europe obtained the Nordic Swan Ecolabel, which is the leading environmental label in the Nordics, as one of the first Finnish equity funds in October 2020. Earlier this year, the Nordic Swan Ecolabel published new, stricter criteria for fund products. Fondita started the renewal process of the Nordic Ecolabel during the fall and on the 25th of November the renewal with the new stricter sustainability requirements was approved.
The new stricter requirements focus mainly on exclusion, inclusion, active ownership, and transparency. In addition, new requirements have been added for critical emission sectors, biodiversity conservation and the inclusion of the EU taxonomy in the fund’s sustainability analysis, among others. To be approved, the fund must meet all the new requirements.
“For us at Fondita, it was a given to start the renewal process of the Nordic Swan Ecolabel. We work actively with sustainability issues and our aim is to remain at the forefront of this work. The approval of the renewal for our fund Sustainable Europe with the new stricter sustainability requirements is a clear sign of our strong commitment and is a response to the increased interest in sustainable investments among our customers”, says Marcus Björkstén portfolio manager for Fondita Sustainable Europe.
Fondita Sustainable Europe is an article 9* equity fund that invests in European companies with climate and environmentally friendly products or services. In addition to the Nordic Swan Ecolabel, the fund has the Austrian Ecolabel certificate, which the fund also obtained in October 2020.
The Nordic Swan Ecolabel was introduced in 1989 and it is the official environmental label of the Nordic countries. Today, 63 different groups of goods and services can be Nordic Swan Ecolabelled. The first generation of requirements for fund products was launched in 2017 and is in force until March 2023. Earlier this year, new stricter criteria for fund products were published. A Nordic Swan Ecolabelled fund means that the fund meets the Nordic Swan Ecolabel’s ethical, environmental and sustainability requirements. The aim of the label is to give customers guidance in finding sustainable funds, but also to influence companies to prioritize more environmental and ethical approaches when running their business.
*The fund’s objective is to make sustainable investments in accordance with article 9 in EU:s SFDR classification.