Iceland's second-biggest pension fund blacklists 138 companies

The Pension Fund of Commerce (LV) says it is implementing a new responsible investment policy, but this will take time, so some companies on the exclusion list will have to remain in the Reykjavik-based pension fund's portfolios for the time being.

Reykjavik, Iceland. | Photo: Pexels: Flor Asef.

Iceland's second-biggest pension fund, the Pension Fund of Commerce (LV), is blacklisting 138 firms as the result of its new responsible investment policy, reports

The ISK 1trn (EUR 6.69bn) pension provider has already divested ISK 3bn (EUR 20m) of its investments. It says most of the exclusions were firms producing coal and oil sands, while 22 made "controversial weapons", 15 were considered to be in breach of the UN Global Compact and 13 were tobacco producers.

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


Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch