Nordea Climate Engagement Fund to invest in Solvay
May 10 2022 - 2:00AM
Nordea Climate Engagement Fund to invest in Solvay
Nordea Climate
Engagement Fund to invest in Solvay
This recognizes Solvay’s One Planet roadmap and
accelerating energy-transition plan.
Brussels, May 10, 2022
Solvay has been featured in a new fund launched
by Nordea Asset Management (NAM) called the Nordea 1 - Global
Climate Engagement fund. The fund identifies companies that have
the potential to transition their business models towards cleaner
operations, and the opportunity to engage with management teams to
support their sustainability initiatives.
Solvay was identified as having a well-defined
energy transition plan whose focus is on switching energy sources,
including opportunities for process innovations, particularly for
emission-intensive sites, to reduce emissions to improve the
Company’s carbon footprint.
“We are proud that our plans have motivated
Nordea’s new thematic fund to invest in Solvay,” said Ilham Kadri,
CEO of Solvay. “It’s a demonstrable recognition that our ambitious
One Planet sustainability roadmap will contribute positively and
significantly to the climate agenda. Our contribution to the
sustainability journey of our customers is one of the cornerstones
of our strategy. We’ve been working with our customers to produce
more sustainable solutions along the value chain. And we are
planning to deliver the progress on climate whilst also creating
superior shareholder value, proving yet again that responsible
value creation is very much within our reach.”
In the past two years, Solvay has accelerated
the rate at which it is cutting emissions thanks to its Solvay One
Planet plans launched in 2020, having aligned its trajectory with
the “well below 2°C temperature increase” goal outlined in the 2015
Paris Agreement. In mid-2020, Solvay took this a step further by
joining the Science-Based Targets initiative (SBTi) to define and
commit to scope 3 reductions within two years. Furthermore, in
2021, Solvay announced its plan to reach carbon neutrality before
2050, in which all its businesses except Soda Ash & Derivatives
are targeted to achieve carbon neutrality by 2040. As part of this
roadmap, Solvay raised its 2030 greenhouse gas emissions reduction
target to -30% (from -26% initially), building upon the 11%
structural reduction achieved between 2018 and 2021.
- Nordea Climate Engagement Fund to invest in Solvay
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