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.

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