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16/04/2018at 13:31

Pension fund divests 35 oil firms for Paris pact failures

Following an investigation into a large number of oil and gas companies, Danish pension fund PKA has decided to cease investing in 35 of oil firms. The businesses have not done what is needed to comply with the Paris Agreement on climate change, it explains.
by THOMAS BO CHRISTENSEN

Denmark's PKA -- a pensions company running several labour-market pension funds -- had already divested from several coal companies. On top of that, it has now decided to exit a group of oil companies that have not done enough to comply the 2015 Paris Agreement on climate change. A central goal of the Paris treaty is to limit global temperature increases to two degrees Celsius by the end of the century.

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Pension firms can play a significant role in steering companies into a more sustainable direction, says SPP and Storebrand Head of Sustainability, Johanna Lundgren Gestlöf. | Foto: Jonas Eng
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