Banks, Financial Services, Investments, Lithuania, Pensioners

It's the first such large investment in the market into exceptionally sustainable enterprises, Swedbank says.

"So far, we have sought to ensure that fund managers act responsibly and meet the United Nations' sustainable development goals. Now we are taking another step and directing 200 million euros towards specialized funds with the highest sustainability criteria, managed by managers meeting such standards. In the pension fund market, an investment of such size into sustainable enterprises is a new phenomenon," Tada Gudaitis, director Swedbank Investiciju Valdymas, said in a statement.

In his words, the investment will go to businesses limiting environmental pollution, using renewable energy resources, promoting responsible consumption and applying good business management practices.

Swedbank's II-pillar life-cycle pension funds are managing assets worth around 1.2 bn euros, with over 525,000 people saving for pension in these funds.