Elisabet has worked in the financial industry for 35 years, first at Handelsbanken and now at SEB. She started as a portfolio manager and later moved into business development and communications. In the 2000s, when the topic of sustainable investments first was raised by institutional investors, and the PRI (Principles for Responsible Investment) was launched, Elisabet moved into this interesting area.
“It was institutional investors and asset managers that first began working with sustainable finance, followed by banking in general,” she explains and continues:
“When I started working in the late 1990s, there were ethical funds that screened out companies active in the tobacco, oil, and weapons industries. Understanding climate risks and their implications for investments came later. Awareness today is very high. Banks have long been expected to act as catalysts for change. As investors and financiers, we can engage with companies to drive change and support our customers with sustainable advice and capital.”
Working with sustainable finance – driving the transition through financial means – has worked well, she believes.
“It has been an extra engine in the transition.”
Today, SEB Asset Management works to ensure that sustainability becomes an integrated part of investment decisions and investment processes.
“There is always more that can be done—for example, working with better tools, managing risks and opportunities, deepening the knowledge of portfolio managers, and providing products that customers demand. In recent years, we have worked extensively on regulatory alignment for ourselves and our clients,” she says.
She has followed SFL from a distance in recent years and has had meetings with SFL researchers. She appreciates that both the traditional banking and investment sides are included.
“We invest in thousands of companies worldwide. The question of how we can evaluate companies in a structured way is something we share with other banks.”
Do you have any ideas for how you can apply your experience within SFL? Are there any specific issues you want to focus on?
“I look forward to learning more from the research that SFL has enabled in different areas. One important focus area for SEB Asset Management is alternative investments, in assets such as private equity, infrastructure, and real estate, so I am particularly curious about these areas. “
She is also a member of the Delegation for Circular Economy, a business advisory council that the Swedish government can consult on circularity-related matters.
“Moving towards a more circular economy is crucial for reducing the climate footprint, and the current geopolitical and security situation has really put the spotlight on resource efficiency and resilience, where circularity can play an important part.”
Are you hopeful about the future?
“Yes, despite the fact that global headwinds, the situation in the U.S., and the geopolitical landscape are drawing focus away from the climate crisis. I still feel that the transition is underway within companies,” she concludes.
Elisabet Jamal Bergström is CEO of SEB Asset Management AB and is responsible for Sustainability in SEB’s Wealth and Asset Management division.
