Pension firm divests coal and tar sands

Neither coal nor oil extracted from tar sands will be be found in Danish pension company Velliv's portfolio now that the company has decided to completely exclude such assets.

Photo: PR/Velliv

Velliv follows a string of other pensions firms by deciding to exclude assets within tar sand oil or coal activities, reports Danish business daily Børsen.

Consequently, Velliv is in the process of divesting assets for over DKK 250m (EUR 33.6m). The exclusion pertains to companies with more than 5 percent of revenue coming from tar sand crude extraction and the like.

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