Abrdn has set up a sustainability group led by Amanda Young, who has been promoted to the newly created role of chief sustainability officer, having previously served as global head of responsible investment.
The new group forms part of Abrdn’s sustainable investing evolution, the firm said, which also involves the conversion of 24 Sicav funds to Article 8 under the Sustainable Finance Disclosure Regulation (SFDR).
By converting the 18 equity and six fixed income funds, Abrdn said it will more than double its current responsible investing-related Sicav AUM to roughly €1.6bn (£1.34bn).
It said this is the first phase of several planned conversions that will take place during 2022.
Under SFDR, which came into effect on 10 March 2021, Article 8 relates to funds that promote environmental or social characteristics.
Central component to Abrdn’s investment process
The new sustainability group will provide subject matter expertise to Abrdn’s investment processes and support its sustainable investing value chain. This will be done through:
- – Generating insights,
- – Setting frameworks and standards,
- – Ensuring active ownership
- – Supporting product design and commerciality,
- – Client reporting and outcomes.
Young said: “As client expectations continue to focus increasingly on material ESG matters, we must continue to evolve as an active asset manager to provide solutions which meet these expectations. As part of our on-going commitment to achieve this, and to invest sustainably, we have created the sustainability group which is a central component to our investment process.
“The sustainability group will continue to coordinate and set the Abrdn house view and standards on sustainability matters including climate change, corporate governance, voting and active ownership to support the investment teams in delivering a coherent ESG integration and engagement strategy. More broadly, our strong leadership team will help drive Abrdn’s sustainable investment approach forward, working to influence external bodies on governance, sustainability, engagement and regulatory matters.”
Four more promotions
To support Young, a number of key appointments have been made to the sustainability group, with effect from 1 April:
Danielle Welsh-Rose – head of sustainability Apac and head of sustainability specialists
In addition to taking on the newly created role of head of sustainability Apac, Welsh-Rose will lead the group responsible for ensuring that Abrdn’s client proposition continues to evolve to meet current and future demand. She will also lead the development of Abrdn’s sustainability training academy ‘Grow Sustainably’. Her previous role was ESG investment director (Apac).
Mike Everett – head of active ownership
Everett will continue to lead Abrdn’s active ownership team, which works with others across the investment vector to ensure that active ownership, including engagement and voting activities, remain at the heart of its investment process. His previous role was head of stewardship.
Eva Cairns – head of sustainability insights and climate strategy
Cairn’s team will lead the sustainability research, climate strategy and thought leadership for investments. They will ensure that its research is core to sustainability standards, innovation and the client proposition. The team will continue to work with the Abrdn Research Institute and across the research functions within each of the investment teams to ensure they capitalise on the firm’s research capabilities. Cairn’s previous role was head of climate change strategy.
Dan Grandage – head of sustainable investing
Grandage will lead efforts in building Abrdn’s common approach to sustainable investing across the business. This will include setting the sustainability standards and building investment frameworks for the house and Abrdn’s sustainability funds, with ESG integration remaining a core part of the investment process within asset classes. His previous role was head of ESG, real assets in which he will still retain involvement and oversight.
