Pension companies scrutinize fossil bond portfolios

Several Danish pension companies are assessing their corporate bonds within the oil and gas industry. Bonds do not offer investors the chance to practice active ownership to the same extent as equities do.

Rasmus Bessing, managing director at PFA Asset Management. | Photo: PR/PFA

Eight Danish pension companies are changing their focus and have divested corporate bonds in fossil fuel companies, Danish business daily Børsen reports. The eight companies are Akademikerpension, PKA, AP Pension, Velliv, Danica, Industriens Pension og PFA, which altogether previously owned corporate bonds in fossil fuel companies worth DKK 9.7bn (EUR 1.3bn).

"Over the past six months, we have sold the majority of our corporate credits in fossil fuel companies, and we now have just one limited exposure to fossil fuel energy companies through an external manager," says Rasmus Bessing, managing director at PFA Asset Management, which currently has DKK 600m (EUR 81m) in energy bonds compared to a previous DKK 1.8bn (EUR 200m).

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Denmark allocates additional PtX funds

Danish parliament's IPCEI agreement doesn't touch Dutch funds previously earmarked by the government for Power-to-X, says energy minister Dan Jørgensen. On the other hand, the allocated DKK 850m will not necessarily go to the common European projects.

Further reading

Related articles

Latest News

See all jobs