In 2024, OP Asset Management updated its climate targets for investments and published its Climate and Nature Report which, for the first time, brought together climate and nature considerations in investment analysis. In the past year, a particular focus was on integrating climate and nature perspectives into investments.
"Our targets emphasise supporting the low-carbon transition rather than just focusing on emissions reductions. We also understand that achieving climate targets isn't possible without safeguarding biodiversity," says Annika Esono Manninen, Head of ESG at OP Asset Management.
As in previous years, active ownership remained a core element of OP Asset Management's operations.
"Active ownership enables us to communicate our expectations to the companies we invest in. In 2024, we represented our fund investors at 1,101 general meetings of listed companies in Finland and abroad," states Esono Manninen.
At the end of 2024, a total of 53 engagement dialogues on suspected or actual norm violations were ongoing with 47 companies. Of companies' norm violations identified by OP Asset Management and affecting OP funds, 67% related to social responsibility.
Considering sustainability perspectives may shape long-term investment performance
At OP Asset Management, considering ESG perspectives in investment decisions reflects long-term financial and business thinking.
"There is currently lively debate around responsible investing, and views on its significance vary. Amid this noise, it’s important to stay focused on what we’ve been doing for a long time: analysing investments from sustainability perspectives, understanding risks and opportunities beyond traditional financial metrics, and building sustainable portfolios for our clients," says Esono Manninen.
Although responsible investing continues to evolve, its fundamental principles remain unchanged.
"We believe that the companies that succeed in the long term are those that can adapt to the changing operating environment and build sustainable businesses. However, it's important to remember that responsible investing is not only about selecting investments that are currently sustainable, but also about understanding and supporting the transition," notes Annika Esono Manninen.
Read the Responsible Investment Annual Review 2024 (in Finnish)