PFA intensifies engagement with selected oil companies

Whilst Danish pension firm PFA has now divested equities in US oil companies, the investor is now betting on Total and Shell as the "winners of tomorrow" due to green energy engagement. Although it's not just about CO2, says PFA Asset Management COO.

A icon of North Sea oil, Shell's old Brent Alpha platform in in the process of being scrapped. | Photo: LINDSEY PARNABY/AFP / AFP

During the past year, Denmark's largest private pension company, PFA, has taken on numerous investment positions connected to climate. Last May, the firm joined the Net-Zero Asset Owner Alliance, a group targeting climate neutrality in their asset portfolios from 2050.

PFA has revealed the scope of emissions reductions it plans to achieve by 2025. Its newer offering, Climate Plus, already operates with a zero-emissions profile and aims to become carbon negative by 2030.

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