Case Study: Gjensidige applies basic economics to net zero portfolio

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Insights & News / Case Study / Climate Risks / Impact

Case Study: Gjensidige applies basic economics to net zero portfolio

November 1, 2023

Joff Hamilton-Dick

Media & Communications

Norwegian insurer Gjensidige has been running an experimental net zero portfolio attempting to reach carbon price neutrality. Their former CIO, now chairman of Gjensidige Pensjonsforsikring, and one of their investment analysts discuss the initial findings.

Interview by Vincent Huck, Editor at Insurance Asset Risk. Excerpt used with permission of the author.

"In the second half of last year, Norwegian insurer Gjensidige started running an experimental equity net zero portfolio with the objective of keeping it carbon price neutral by holding an amount of emission allowances in the EU ETS equal to the estimated net carbon price risk of each security holdings and the portfolio.

[Using SparkChange data] the objective is to reduce the financial climate transition risk of the portfolio and achieve a capital allocation through price signals where carbon is priced into the capital cost of companies.

Nearly four months into the net zero portfolio experiment previous chief investment officer now advisor and chairman of the board of Gjensidige Pensjonsforsikring, Erik Ranberg, and investment analyst Stian Fjellstad at the Norwegian insurer discuss with Insurance Asset Risk the 'why, how and what next' of the project."

Access the full article at:

https://www.insuranceassetrisk.com/content/analysis/case-study-gjensidige-applies-basic-economics-to-net-zero.html

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