Nordea Asset Management (NAM) is planning to open an ESG hub in Singapore, which is the group’s first operation of this kind outside of its Nordic headquarters.

The hub will allow NAM to be closer to its clients in Asia Pacific and better understand how the region’s companies are embracing sustainability.

It will be constructed around a group of ESG analysts, recruited locally and integrated within NAM’s team based in the Nordics.

Nils Bolmstrand, chief executive of Nordea Asset Management, said: “NAM is pleased to establish an ESG hub in Singapore, which will enable us to enhance our local servicing, ESG capabilities, investment platform and distribution reach in the region.

“Sustainability issues have gained significant interest in Asia in recent years, and investors are increasingly asking for ESG solutions. The time is right to meet that demand.”

NAM’s ESG hub will supplement its local Singapore distribution office, established in 2013. Implementation is set to begin in the latter part of 2021.