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LD Pensions continues to invest in tar sand companies

One Danish NGO calls it "very problematic" that the pension fund still invests in companies that extract oil from tar sands. However, LD Pension's head of equities says that it if they divested, a new owner would simply take over.

Head of Equities at LD Pensions Kristoffer Fabricius Birch | Photo: PR/LD Fonde

Although tar sand companies have been excluded from the investment universe at Denmark's largest pension companies, LD Pensions has retained its exposure to some of the world's biggest tar sand companies, financial media Børsen Pro Finans reports.

The media has conducted an investigation into LD Pensions, which manages The Holiday Allowance Fund which contains frozen holiday pay earned by workers in Denmark, and found that it has invested around DKK 2.2m (EUR 295,827) in Suncor Energy and DKK 2.3m (EUR 309,274) in Canadian Resources Ltd, two of the largest tar sand oil companies.

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