Eight Danish pension companies are changing their focus and have divested corporate bonds in fossil fuel companies, Danish business daily Børsen reports. The eight companies are Akademikerpension, PKA, AP Pension, Velliv, Danica, Industriens Pension og PFA, which altogether previously owned corporate bonds in fossil fuel companies worth DKK 9.7bn (EUR 1.3bn).
"Over the past six months, we have sold the majority of our corporate credits in fossil fuel companies, and we now have just one limited exposure to fossil fuel energy companies through an external manager," says Rasmus Bessing, managing director at PFA Asset Management, which currently has DKK 600m (EUR 81m) in energy bonds compared to a previous DKK 1.8bn (EUR 200m).
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