AMWatch

Danish pension providers may be about to exclude oil giants

The largest Danish pension providers own stock worth more than USD 2.4 billion in the world's largest oil companies, according to survey by Danish newspaper.

Photo: Ritzau Scanpix/AP/Chuck Bennett

Several Danish pension providers have already excluded a range of companies with large activities in coal and tar sand, referring to the large-scale CO emissions not agreeing with the goals of the Paris Agreement. And now, there are indications that the oil giants may be next, writes Danish newspaper Information.

"Last year, the pension fund PKA blacklisted 35 oil companies for not taking the necessary steps to live up to the Paris Agreement. And this week, P+, which manages pension on behalf of engineers, lawyers and economists, decided to exclude eight big CO2 emitters, including oil giants ExxonMobil, Chevron and PetroChina," writes the newspaper.

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