“With our participation at COP28, we encourage more investors, companies and governments to join the journey. More capital will speed up the green transition” says Velliv’s CIO, Anders Stensbøl Christiansen.
Velliv advocates for a faster phase out of fossil fuels and will only invest in upstream oil and gas companies and utility companies that have a credible transition plan in place in line with the Paris Agreement. Velliv is also calling on governments to stop approving new oil and gas fields and new coal mines, and for financial institutions to restrict access to capital towards new oil, gas and coal exploration.
Velliv expects to invest a significant amount in impact investments in the coming years. To make that happen more blended finance is needed to fit institutional investors’ risk profile. Today, Velliv have already invested in funds focused solely on impact investments and also in Green and Sustainability Bonds with clear frameworks for driving positive environmental and social impacts. In collaboration with partners such as the World Bank Group, Velliv has helped to pioneer innovative structuring in impact bonds where the investment return is directly linked to a positive outcome in terms of emission reductions.
A challenge the financial industry faces is the lack of high quality ESG data. As a global investor, Velliv sees a need for a global standard for ESG data. We want to contribute to a positive impact across national borders, also in developing countries, through our investments. Climate change knows no borders.
“Velliv wants not only to further accelerate our own climate goals but also advocate for actions that contribute to increasing the pace of the green transition,” explains Anders Stensbøl Christiansen.