AMWatch

Green pension products invest in banks supporting fossil industry

Danish pension funds are under fire for their investments – specifically, for offering sustainable pension savings products which are investing in two of the biggest financers of the fossil fuel industry. These two US banks have invested several hundred billion dollars in the fossil fuel industry since the Paris Agreement was signed in 2015.

Photo: Rob Carr/AP/Ritzau Scanpix/AFP / GETTY IMAGES NORTH AMERICA

Pension savings placed in funds that are dedicated to green investments are being invested in some of the world's biggest financers of the fossil fuel industry – two large US-based banks.

In Denmark, both Velliv and PFA Pension have invested millions of kroner from their green funds in Bank of America and Citigroup. Danica Pension has also invested resources placed in their sustainable pension product in Bank of America.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
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

Further reading

Related articles

Latest news

Jobs

Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch