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Response by Handelsbanken

Thank you for the invitation to respond to the Swedwatch report. 

For Handelsbanken, sustainability is deeply rooted in the corporate culture and in our business culture, where long-term business relationships, low risk-taking and cost-awareness are cornerstones. They form the basis of successful banking operations being run in a responsible, sustainable manner. 

Through our business operations, such as asset management and corporate lending, we can contribute to sustainable development. Climate change is a challenge that needs to be addressed in all industries, including the financial industry. It is also something that matters deeply to Handelsbanken's customers. When it comes to asset management, climate action has been part of our investment processes for quite some time. That is why roughly one third of our total AuM is fossile free and why none of our funds invest in coal power and extraction. Already ten years ago, we launched our Sustainable Energy fund, which invests in energy efficiency and green energy solutions. 

In the Swedwatch report, Handelsbanken's funds clearly outperform the 2 degrees pathway, through being invested in renewable power and through the exclusion of fossil fuels from a large part of our funds. Our funds are also outperforming on investment in electric vehicles. We are happy that this scenario analysis confirms the integration of climate action into our business and remain dedicated to necessary and further action that needs to be taken in order to reach the goals of the Paris agreement.

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