”Of course we need to invest in oil companies if we want the green transition”

It’s not enough to invest in something that is already green if you want the green transition to happen, BankInvest CEO Lars Bo Bertram tells AMWatch just a few months after the EUR 18.8bn manager took a beating from the Danish media for having its sustainable flagship fund invest in oil services companies.

Lars Bo Bertram, CEO at BankInvest. | Photo: PR/Bankinvest

Earlier this year, BankInvest was criticized by the Danish media for the fact that its sustainable flagship fund, BankInvest Globale Aktier Bæredygtig Udvikling, invests in oil service companies.

The aim was to get exposure to rising oil and gas prices. While the investments were not popular with the Danish Consumer Council, they did result in BankInvest’s Nordic Swan Eco-labelled fund faring better than its MSCI World benchmark and most other sustainable funds.

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