- Nordea Asset Management’s Sustainable Thematic Team oversees more than €18 billion ($19.6 billion) across climate and impact strategies, positioning the firm among Europe’s largest dedicated climate investors.
- Kasper From Larsen brings more than 11 years of climate-relevant portfolio management experience from Danske Bank Asset Management, with sector depth across energy, utilities, infrastructure, and materials.
- The appointment reinforces Nordea’s climate transition capabilities at a time of rising institutional demand for credible, sector-driven transition strategies aligned with global climate frameworks.
Nordea Asset Management (NAM) has appointed Kasper From Larsen as Portfolio Manager within its Sustainable Thematic Team, strengthening its climate investment bench as asset owners increase scrutiny on transition credibility, sector exposure, and long-term climate alignment.
From Larsen joins a team that manages more than €18 billion ($19.6 billion) across a suite of climate and impact strategies spanning climate solutions, transition portfolios, and broader impact mandates. The Sustainable Thematic Team sits at the core of Nordea’s climate investing platform and operates across Copenhagen, London, and Singapore, reflecting the firm’s global approach to climate capital deployment.
The appointment comes as climate-focused asset managers face intensifying expectations from pension funds, insurers, and sovereign investors to demonstrate both real-economy impact and disciplined financial performance amid volatile energy markets and evolving policy frameworks.
Deep Sector Expertise Anchored in the Energy Transition
From Larsen arrives at Nordea following more than 11 years at Danske Bank Asset Management, where he most recently served as Senior Portfolio Manager. Over that period, his work concentrated on sectors that sit at the heart of the energy transition, including energy, utilities, infrastructure, and materials.
These sectors remain central to Europe’s decarbonisation agenda, particularly as governments accelerate grid expansion, electrification, and industrial transition while balancing energy security concerns. For climate investors, exposure to these industries demands granular sector knowledge and an ability to assess transition pathways, capital expenditure cycles, and regulatory risk.
At Nordea, From Larsen will support both existing and potential new climate investment strategies, applying his sector experience to portfolios designed to capture long-term structural shifts linked to decarbonisation, clean energy deployment, and climate resilience.
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Scaling Climate Capital With Governance Discipline
Nordea Asset Management is widely regarded as an early mover in climate investing, having launched its first climate fund in 2008. Since then, the firm has expanded its climate and impact offering alongside growing institutional demand for strategies aligned with global climate goals and sustainable finance regulation.
The Sustainable Thematic Team operates as part of NAM’s Fundamental Equities platform and draws on a global sector research framework that supports both its thematic strategies and the firm’s broader Sustainable STARS range. This structure is intended to embed climate analysis within traditional equity research rather than treating sustainability as a parallel overlay.
From Larsen will report to Thomas Sørensen and Henning Padberg, co-heads of the Sustainable Thematic Team, who oversee strategy development, portfolio construction, and engagement priorities across the platform.
Commenting on the appointment, Sørensen said:
“Kasper and Rachel bring complementary skill sets and a shared commitment to high-quality sustainable investing. Their extensive experience and strong analytical capabilities will reinforce the team’s ability to deliver long-term, impact-driven results for our clients.”
While the team has expanded to 15 investment professionals, including eight portfolio managers, governance remains tightly structured, with portfolio accountability and engagement responsibilities clearly defined across strategies.
What Investors Should Take Away
For asset owners and allocators, the appointment signals Nordea’s continued investment in specialist climate talent at a time when climate strategies are under pressure to demonstrate both financial resilience and real-world outcomes.
From Larsen’s background in capital-intensive transition sectors is particularly relevant as climate portfolios increasingly tilt toward infrastructure-linked equities, utilities undergoing regulatory transformation, and industrial players navigating decarbonisation pathways.
More broadly, the move reflects a wider trend among European asset managers to deepen in-house transition expertise rather than rely solely on external data or exclusion-based approaches. As climate regulation, disclosure requirements, and transition finance frameworks mature, portfolio managers with sector fluency and engagement experience are becoming critical to maintaining investor confidence.
Nordea’s decision to strengthen its climate leadership bench underscores the growing convergence between governance, financial performance, and climate strategy in institutional asset management, with implications extending well beyond the Nordic market.
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