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Industry associations develop CO2 model for mutual funds, pension products

Insurance & Pension Denmark and Finance Denmark have developed a new model for calculating the CO2 footprints in portfolios belonging to banks, insurance companies and pension firms.

Photo: Finans Danmark/PR

Finance Denmark and Insurance & Pension have collaborated on a model for calculating the C02 footprint involved when taking loans or making investments, according to Børsen.

"The calculator can measure the footprints of anything from mortgages to business loans. It was made as a way of following up on a recommendation to find a joint method through which the banks could announce their goals for their CO2 reductions and plans for how to reach these goals," Finance Denmark's head of investments and savings Birgitte Søgaard Holm says.

The model can also be used for calculating CO2 footprints for Danish private investments, for example mutual funds and pension savings, Finance Denmark writes in a press statement.

Insurance and Pension Denmark has, for example, helped ensure an even measurement of the Danes’ CO2 footprint across pension and investment products.

"It's highly valuable that the same model can be applied across the whole financial sector. For this reason, we’re pleased to participate in the work process. Our members have amassed a lot of experience in for example climate change mitigation and other sustainability issues in their investment setups

The pension industry is already actively working towards bringing down the CO2 footprint and investing in the green transition, which is evident in the industry’s 2019 commitment to increase sustainable investments by DKK 350m (EUR 47m) leading up to 2030," Kent Damsgaard, head of Insurance & Pension Denmark, says in the statement.

English Translation: Nielsine Nielsen

(This article was provided by our sister media, FinansWatch Denmark)

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