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1 •

Skog og Tre: Hvorfor investere i bioøkonomi? Thina Margrethe Saltvedt (Ph. D.), Chief Analyst, 23 Mai 2019

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2 NORDEA ENABLES TRANSITION TOWARDS A SUSTAINABLE FUTURE

Kapital er et viktig verktøy for å skape

ENDRING

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3Source: NBIM, Financial Times, Dagens Næringsliv

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4

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Energietterspørsel fordelt på energibærer i 1,5 graders scenarioet The IPCC 1.5 P2 scenario

5

Fossile Fuel demand Renewable Energy

Natural gas

Oil

Coal

Wind

Biomass

Solar

Nuclear

Hydro

Geothermal

Source: IIASA

Transition Risk moving from fossil to renewable and green energy:Changes in laws, regulations, markets, investors’ & consumers’ preferences

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Vi trenger en riktig PRIS PÅ BÆREKRAFT OG KLIMARISIKO for

å unngå feilallokering av kapital

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7

Forsikringsselskapene er "første linje" forsvaret mot klimaendringer i finanssektoren

Source: NRK

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8

Prising av klimarisiko (eller risiko knyttet til bærekraft) vil påvirke den retningen kapitalen beveger seg i.

I fremtiden kan en stor miljø- eller sosialt fotavtrykk gi:

TOGETHER WITH CUSTOMERS AND PARTNERS NORDEA ENABLES THE TRANSITION TOWARDS A SUSTAINABLE FUTURE

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9

Markedet for finansielle grønne og bærekraft obligasjoner og lån øker raskt

NORDEA ENABLES TRANSITION TOWARDS A SUSTAINABLE FUTURE

0%

2%

4%

6%

8%

10%

12%

14%

16%

0

20

40

60

80

100

120

140

160

180

200

2015 2016 2017 2018 2019

USD

bnEq

v

Social Sustainable Green Social of total Sustainable of total

Green, Social and Sustainable bond supply by year, including relative share

Source: Bloomberg, Nordea

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10

Source: TU.no, Borregaard.no, IEA, Norges Skogeierforbund

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11

Fra lineære til sirkulære forretningsmodeller

Kilde: TU.no

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12 NORDEA ENABLES TRANSITION TOWARDS A SUSTAINABLE FUTURE

Hva er en sirkulær bygning?

Et depot av materialer som er satt sammen som en bygning

Source: Innovasjon Norge

Thank you!

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The information provided herein is not intended to constitute and does not constitute investment advice nor is the information intended as an offer or solicitation for the purchase or sale of any financial instrument. The information contained herein has no regard to the specific investment objectives, the financial situation or particular needs of any particular recipient. Relevant and specific professional advice should always be obtained before making any investment or credit decision. It is important to note that past performance is not indicative of future results.

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Chief AnalystThina Margrethe Saltvedt (Ph. D.)

thina.margrethe.saltvedt@nordea.comMobile : +4790634075Twitter: @ThinaSaltvedt