Nordea Asset Management Adds Dark-Green ESG Strategy to Offering

(Bloomberg) -- Nordea Asset Management is offering a new dark-green equity-based investment product for investors keen to make a simultaneous impact on the climate and society.

The fund will be managed by the team behind Nordea Bank Abp’s climate fund. Demand for that product has recently swelled to 8.3 billion euros ($9.9 billion), prompting the bank twice this year to try and slow the pace of inflows so that it could continue to manage the product efficiently.

The new Global Climate and Social Impact Strategy seeks “to deliver attractive returns by investing in businesses that provide meaningful solutions to address pressing social and environmental needs,” Nordea said on its website on Tuesday.

“New consumers care not only about what the products are made of, but how they are made,” Thomas Sorensen, co-manager of the fund, said. “That’s why we look for companies that marry purpose and profits.”

The product is classified as an Article 9 investment under the European Union’s Sustainable Finance Disclosure Regulation, or SFDR, Nordea said.

Read More: Nordea Caps Flows Into $10 Billion ESG Fund as Demand Soars

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