Pension

Merging pension funds exclude seven companies from investment universe

Companies with a business model based on oil from tar sands are no longer welcome in the investment universe of two Danish merging pension funds. As a direct consequence, the funds have decided to exclude seven companies.
Suncor is one of the tar sands companies that have been excluded by DIP and JØP. | Photo: Todd Korol/Reuters/Ritzau Scanpix
Suncor is one of the tar sands companies that have been excluded by DIP and JØP. | Photo: Todd Korol/Reuters/Ritzau Scanpix
BY MICHAEL DUELUND, FINANSWATCH

Danish pension funds DIP and JØP, currently pending approval by the authorities to complete a merge, consider business models based on oil extracted from tar sands to be incompatible with the goals in the Paris Agreement.

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