Novo Holdings publishes its 2025 Responsible Investment Report 

Novo Holdings today published its 2025 Responsible Investment Report, highlighting how responsible investment remains embedded across its investment strategy and ownership approach. 

The Responsible Investment Report showcases how Novo Holdings’ purpose shapes its investment strategy and supports long-term value creation, while highlighting progress across its healthcare and planetary health investments, as well as its responsible investment priorities. 

“Responsibility has always been an integral part of the purpose and the vision of Novo Holdings,” said Kasim Kutay, Chief Executive Officer of Novo Holdings. “As a long-term investor, we have a responsibility to deploy capital in a manner that generates attractive financial returns while supporting positive outcomes for society.” 

Highlights from 2025 
“Over the past year, we have deepened our engagement with portfolio companies, supporting them in embedding sustainability into their strategy, governance and operations. We made further progress towards our science-based emissions reduction targets through continued collaboration on emissions measurement, target-setting and decarbonisation. This work reflects a long-term commitment to responsible investment that is inseparable from Novo Holdings’ purpose,” said Maja Engholm Pedersen, Executive Director and Head of Sustainability and Impact at Novo Holdings. 

At the end of 2025, 49% of Novo Holdings’ investments were allocated to supporting healthier lives, representing DKK 117 billion invested in healthcare. The healthcare portfolio included 122 companies spanning the life science value chain and supporting innovation across areas of significant unmet medical need, including oncology, immunology, metabolic diseases, neuroscience, infectious diseases and cardiovascular conditions. 

As part of its Strategy 2030 ambitions, Novo Holdings continued to increase its allocation to the green transition, reaching 5.5% of assets under management by year-end 2025. This represented DKK 13 billion invested across 51 investments spanning renewable energy infrastructure and science-driven solutions across food and agriculture, energy, materials and manufacturing, as well as cities and the built environment. 

Novo Holdings’ renewable energy infrastructure investments contributed to an attributable renewable energy capacity of 180 MW, generating 168,000 MWh annually – equivalent to powering approximately 28,000 homes and avoiding 66,000 tonnes of CO₂e emissions per year. 

The Report also highlights continued progress in strengthening Novo Holdings’ engaged ownership approach and integrating responsible investment considerations throughout the investment lifecycle. Examples include ESG due diligence conducted as part of investment assessments, ongoing engagement with portfolio companies on sustainability priorities, and continued monitoring of portfolio-wide sustainability performance. 

The full 2025 Responsible Investment Report is available here.