£85bn Swedish pension giant bans non-ESG asset managers

Authorities in Sweden have warned asset managers at home and abroad it will no longer accept any applications and pitches from asset managers that do not adhere to ESG standards in their respective investment vehicles.

The £85bn Swedish Fund Selection Agency, which oversees applications, told investment managers they will be expected to 'systematically and structurally' include sustainability standards and policies into their investment strategies and operations.

The fund stressed it will no longer consider any applications that do not contain detailed ESG proposals or standards.