AMWatch

PFA ramps up oil exposure despite criticism

Denmark's largest commercial pension fund is maintaing its billion-kroner investments in fossil fuel companies despite uncertain market conditions and criticism from environmental organizations. "I understand the dilemma, but I don't understand why people are so certain about what the right thing to do is," says PFA's group CIO Kasper Ahrndt Lorenzen.

PFA also invests in renewable energy sources including off-shore wind, says Kasper Ahrndt Lorenzen. | Photo: PR

PFA, sees no reason to sell its oil equities. The corona-related oil crisis, and critics who say that PFA should be more socially responsible and invest in green energy, have made no difference.

"We do not disagree that we need to back up the Paris Agreement. We do not disagree about the goal - we disagree about the methods. We also fundamentally believe that if companies don't fall in line with the Paris agreement, they will be badly-positioned and lose money," emphasizes Kasper Ahrnt Lorenzen, group investment director at PFA.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from AMWatch

Why do Nordic funds have so few female portfolio managers?

Only 16 percent of fund managers in Sweden are women. The figure is 11 percent in Finland, while just 6 percent of fund managers in Denmark and Norway are female. AMWatch has talked to four Nordic women in finance in search of answers regarding this imbalance and to hear about their career experiences. 

Further reading

Related articles

Trial banner

Latest news

Jobs

Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch