Four Nordic Pension Plans Commit $700 Million to Renewable Energy
Three Danish pension funds and one Norwegian plan have invested $700 million in a renewable energy infrastructure fund.
The four Nordic funds, $35.2 billion PensionDanmark, ATP ($125 billion), Laegernes Pension ($134 billion), and Norway’s Kommunal Landspensionkasse ($700 million), will focus their environmental, social, and governance (ESG) efforts on mostly Asian and Latin American infrastructure projects. They are pooling their ESG investments in a new vehicle to manage the money, the Copenhagen Infrastructure New Markets Fund I portfolio.
The infra-fund will also target select countries in Eastern Europe and Africa, its parent, Copenhagen Infrastructure Partners, said in a statement. Targeted projects will include wind, solar, and biomass and transmission grid systems over a 10-year period.
Copenhagen Infrastructure also expects the new markets fund to grow to at least $1 billion before it closes in February.
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