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Danish pension funds back 'green transition' with $50 billion

Danish private pension funds on Monday pledged to invest more than $50 billion in green assets over the next decade to fight climate change, as part of Denmark’s ambition to reduce greenhouse gas emissions by 70% in 2030. The funds will invest 350 billion Danish crowns in energy infrastructure, green stocks and bonds and energy efficient construction up to 2030, Danish pensions industry association Insurance and Pension Denmark said. The funds will bring the total green investments to 511 billion crowns. Danish private pension funds, which doesn’t include public pension fund ATP, currently hold assets worth 3,100 billion crowns. Denmark’s biggest private pension provider, PFA Pension, which manages more than 600 billion Danish crowns, will focus investments in offshore wind farms and photovoltaic energy as well as climate-friendly properties and energy storage.

- Reuters -

 

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