The Swan ecolabel has been granted to three sustainable investment funds in Finland. Out of the 6,000 funds marketed in the Nordic Countries, Handelsbanken Kestävä Energia, Swedbank Robur Ethica Sverige and Swedbank Robur Ethica Global are the first funds to qualify for the label.
To be eligible, a fund is not allowed to invest in companies that produce fossil fuels, manufacture arms or tobacco, violate human rights or commit serious environmental crimes.
In addition, at least 50 percent of the companies in the fund must have a strong sustainability profile as based on an environmental, social and governance (ESG) analysis. Further sustainability points are awarded if the fund invests in renewable energy, water treatment, energy efficiency or other green technology.
The Swan label is valid for three years.