AMWatch

Danske Bank includes oil companies in climate products

Danske Bank markets a number of its investment funds as sustainable, despite the fact that they include some of the world's largest oil companies - some of which are working against the green transition. The Danish consumer protection office concludes this borders on misleading marketing.

Photo: Rob Carr/AP/Ritzau Scanpix/REUTERS / X07091

Enron, Chevron, Halliburton, Devon. Not the names you would expect to find in a sustainable fund – but nevertheless, they are what you get at Danske Bank's Restricted funds, which, according to the bank, "aim to solve some of the planet's challenges and contribute to a more sustainable society."

The funds invest in some of the biggest CO2 emitters in the world, including oil extractors, oil refineries, oil researchers, natural gas producers, mining companies, palm oil producers, coal production and trading companies, and many more.

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