Danish Pension Funds Sign $52 Billion Green Pledge
Denmark’s private pension fund industry is banding together in a pledge to invest more than 350 billion Danish kroner ($51.7 billion) in green assets by 2030. The goal is to help reduce the country’s carbon dioxide emissions by 70%.
The investments will be in energy infrastructure and other green activities such as green shares, green bonds, and investments in energy efficient construction.
According to Insurance & Pension Denmark (IPD), the country’s pension trade association, the Danish pension industry has already invested 126 billion kroner in green assets, and an additional 35 billion kroner has already been planned.
At the UN Climate Action Summit in New York this week, the Danish pension industry was represented by the pension companies PensionDanmark, PKA, PFA and Pensam. On behalf of the government, Danish Prime Minister Mette Frederiksen was there, along with the country’s climate minister and development minister.
“In Denmark we can do something very special when we set ambitious political goals and collaborate across the public and private sectors,” Frederiksen said at a Climate Summit press conference. “Now we must work to get the international investors involved. It is crucial to achieve the green transition globally.”
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