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>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 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 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >