Danish pension fund PKA ditches 35 oil and gas companies

Peter Damgaard Jensen (Image courtesy of PKA)

Danish pension fund PKA, that manages about $46 billion worth of assets, said it has excluded 35 oil and gas companies from its investment portfolio.

PKS, which actively invests into technologies such as offshore wind power and has previously excluded 70 coal companies, said on Thursday that the reason behind the decision was that the oil and gas companies “did not take the necessary initiatives to comply with the Paris agreement.”

The fund plans now to target carbon emissions in the automotive industry.

The excluded oil and gas companies include US-based companies Anadarko and Marathon Oil, Russian Gazprom and Rosneft, Japan’s Inpex and Sinopec of China, PKA said.

Chief Executive Peter Damgaard Jensen said in the statement that PKA had reviewed 62 oil and gas companies to investigate if they had the “right managerial focus on the Paris agreement in their investments.”

Of those, 15 will be added to an observation list with the aim to push them in a more climate-friendly direction, while 12 companies will stay in PKA’s portfolio.

 

 

Share this article

Follow LNG World News

Events>

<< Jan 2019 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >

Gas to Power APAC Congress 2019

The Gas to Power APAC Congress will bring together regional government officials and senior representatives from regulators…

read more >

2nd CWC Japan LNG & Gas Summit

The highly successful CWC Japan LNG & Gas Summit returns for a second year from 19-20 February 2019 in Tokyo, Japan…

read more >

Global LNG Forum 2019

Global LNG Forum is your opportunity to see what the future of LNG will be like…

read more >