Eighty percent of Nordic institutional investors expect their firm to introduce climate risk profiling within the next two years, according to a survey conducted by Northern Trust in Stockholm.
A third of the respondents cited "having the right data" as a key challenge to implementing a sustainable investment strategy.
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The survey, in which more than 30 Nordic institutional investors participated, found that three greatest technical challenges to monitoring and oversight were cost and internal resources (30%), data aggregation (27%) and investment transparency (27%).
According to the report, overwhelming 90% of the respondents said they expect internal resourcing and the amount of capital allocated to governance and compliance to rise.
Northern Trust Institutional Investor Group head across Europe, Middle East and Africa Penelope Biggs said: "Sustainability is the single most significant universal trend we see across our client base. Linked to this is a requirement to deliver frequent, high quality information – whether on sustainability, or governance in general to support more informed decision making."
"Northern Trust has been working closely with our clients to develop solutions to deliver increasingly intelligent data to address all these needs. We have become experts in collating information from multiple sources, normalizing and standardizing the data – regardless of asset type – and then aggregating that information, and delivering it intraday," Biggs added.
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