Danish pension firm divests fossil assets

Pension company PFA has offloaded more fossil energy assets after having taken a sharper look at its portfolio.

Kasper Lorenzen, CIO at PFA. | Photo: PR/PFA

Danmark's largest commercial pension provider, PFA, has reduced its investments in the oil and gas sector during this year, writes domestic business media Børsen.

The media reports that the firm's carbon emissions per invested USD 1 million is now roughly 20 percent under world index MSCI ACWI. At the beginning of the year, the figure was 16 percent less than the index.

PFA Chief Investment Officer Kasper Lorenzen, tells the media that an ongoing dialog is taking place with potential divestment candidates, which are then sold off if the pension firm finds the companies' will to pursue change to be inadequate.

"A prerequisite for oil and gas companies being fine investments in the long term is that they can manage to transform themselves. It must, for instance, be a part of their strategy to allocate a part of their balance sheet over to renewables, but we must also be able to see that they execute the targets they set for themselves. 

PFA declines to reveal the divestment's size. 

English Edit: Daniel Frank Christensen

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

AP1 and Tobam partner to adopt fossil-free investment strategies 

ATP establishes ESG database for illiquid portfolio  

Sampension achieves green bond milestone

Pension fund's new head of RI has seen sustainability's many shades 

More from AMWatch

Akademikerpension divests utility companies

More than 200 utility companies have been excluded from Akademikerpension's investment universe. The pension fund is now divesting equities and bonds equivalent to 0.5 percent of assets under management.

Qblue aims to reach a wider audience

Bjarne Graven Larsen's QBlue Balanced wants to reach more international investors, he tells AMWatch. He also discusses why he thinks the quant winter has made way for a quant spring.

Evli records AUM growth exceeding 24 pct

New client wins, additional investments from existing clients and the positive market impact increased the assets under management by private and institutional mandates to a new record, writes Evli Group CEO Maunu Lehtimäki.

Further reading

Related articles

Latest news


Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch