Nordic Swan Ecolabel
The Nordic Swan Ecolabel analyzes 60 product groups including financial products and gives consumers an 'indication of how many have a focus on environmental impact and sustainable development.
Summary data :
| label | ID | Topic | Description | Mode | Enabled | Order |
|---|---|---|---|---|---|---|
| Nordic Swan | 1 | Label | Nordic Swan Ecolabel | t | 1 | 1 |
| Nordic Swan | 1 | Nationality | The label is the shared ownership of the 5 Nordic countries (Sweden, Norway, Iceland, Finland and Denmark) and available in English | t | 1 | 3 |
| Nordic Swan | 1 | Management | The awarding of the Nordic Swan Ecolabel to all financial products is managed by Sweden's national EcoLabel agency | t | 1 | 4 |
| Nordic Swan | 1 | Label Type | Focused on environmental impacts | t | 1 | 5 |
| Nordic Swan | 1 | Website | https://www.svanen.se/en/funds/ | t | 1 | 7 |
| Nordic Swan | 1 | Market | The label is focused on the Nordic Market (Sweden, Norway, Iceland, Finland and Denmark). | t | 1 | 8 |
| Nordic Swan | 1 | Products | 65 financial products as of September 2024 (as well as 41 000 non-financial products) | t | 1 | 9 |
| Nordic Swan | 1 | Links to funds | https://www.svanen.se/siteassets/fonder/alla-svanenmarkta-fonder.pdf | t | 1 | 10 |
| Nordic Swan | 1 | Criteria | https://www.svanen.se/contentassets/653430c81fae41418c2b544a2205abf6/criteria-document_101_investment-funds-101_english2.pdf | t | 1 | 15 |
| Nordic Swan | 1 | Periodicity | Criteria are monitored annually and requirements updated every 3-5 years | t | 1 | 21 |
Analytical data :
| label | ID | Topic | Description | Mode | Enabled | Order |
|---|---|---|---|---|---|---|
| Nordic Swan | 1 | Description | The Nordic Swan Ecolabel is an eco-label that follows the ISO 14024 type I standard : it analyzes 60 product groups including financial products and provides consumers with an 'indication of products that have a focus on environmental impact and sustainable development. | d | 1 | 6 |
| Nordic Swan | 1 | Genesis and development | In 1989, the Nordic Council of Ministers decided to introduce a common and official environmental label in the Nordic countries to help consumers choose products that were environmentally friendly. Thus the Nordic Swan Ecolabel was born with Sweden, Norway, Finland and Iceland joining the project, which were later joined by Denmark | d | 1 | 11 |
| Nordic Swan | 1 | Goals | The Nordic Swan Ecolabel renews its eligibility criteria, included in a framework document (now "Gen 1"), every three to five years, with a view to reducing the environmental impact of goods and services and the circular economy. For consumers, it is a signal that the goods and services they buy meet high and rising environmental standards. In 2022, we will move to the new Gen 2 version, which will receive the European environmental taxonomy and strengthen requirements regarding fossil energy and impacts to biodiversity. | d | 1 | 12 |
| Nordic Swan | 1 | Promoters and administrators | Each participating country funds a local structure that manages applications, assesses compliance with requirements, and monitors eligibility conditions over time. The Swedish Ecolabel Agency is in charge of managing and monitoring all labelled financial products. | d | 1 | 13 |
| Nordic Swan | 1 | SRI Approach | The label is based on four areas of ESG / Sustainable Development that funds must strictly control: exclusion of harmful activities, ESG integration, transparency and engagement. To obtain the label, the fund must meet 25 mandatory requirements and collect a minimum of 6 out of 16 points from optional requirements according to a scoring logic. | d | 1 | 14 |
| Nordic Swan | 1 | Mandatory Criteria | The criteria, currently in "Gen 2," require applying funds to be categorized as Article 8/9 SFDR and include 26 mandatory requirements to obtain the label divided into Exclusion criteria (The fund must refrain from investing in industries and companies that do not consider the concept of sustainability) Inclusion (requirements necessary to be part of the labeling process), Regulatory Screening (The fund cannot invest in Society or states that risk contributing to the violation of international treaties, fundamental rights, human rights, or risk causing serious damage to the environment and fueling corruption) | d | 1 | 16 |
| Nordic Swan | 1 | Additional criteria | It will be necessary to collect a minimum of 6 out of 16 points from various scoring requirements that include Engagement (Involvement of one's holdings in ESG issues through voting at annual general meetings and dialogue and engagement with Society in Portfolio), Thematic Approach (Investments in Society operating in the renewable energy, energy efficiency, water cleanliness, pollution control, waste reuse, sustainable food or green bonds are encouraged), and additional reports that make the fund more transparent. | d | 1 | 17 |
| Nordic Swan | 1 | Allocation process | Society applicants who want to obtain the label for their products must contact the label in the market where the funds are distributed, follow the admission procedure and accept the required bonds (fee, annual reporting, Letter of Commitment, external inspection). | d | 1 | 20 |
| Nordic Swan | 1 | External certification | Each fund receives the label with reference to a list of requirements (Gen1) and must self-report instances of non-compliance that arise over time. With each change in eligibility criteria, a new verification of compliance with the conditions is performed by Nordic Swan Ecolabel. | d | 1 | 22 |
| Nordic Swan | 1 | Focus on transparency | The fund must report its holdings in Portfolio every 4 months and publish an annual report on its ESG activities and performance on its website, as well as perform an internal audit procedure to verify that the holdings meet the criteria required by Nordic Swan Ecolabel | d | 1 | 23 |
| Nordic Swan | 1 | Focus on periodic checks | Compliance with the criteria is monitored every 12 months by Nordic Swan Ecolabel or upon express declaration by the fund if it no longer meets the conditions. When an aspect is no longer met, the fund must implement and communicate a remediation strategy. | d | 1 | 24 |
| Nordic Swan | 1 | Related parties | Nordic Swan Ecolabel is a founding member of the "Global Ecolabelling network" (GEN), an international nonprofit association that establishes environmental performance criteria and certification protocols to encourage sustainable development and circular economy (ISO 14024). | d | 1 | 25 |
Nordic Swan Ecolabel2022-08-102022-08-10https://www.positivefinance.com/wp-content/uploads/2021/11/positive-finance-logo-rgb.svgPositive Financehttps://www.positivefinance.com/wp-content/uploads/2021/11/nordic-swan-ecolabel-300.jpg200px200px
