PFA ramps up oil exposure despite criticism

Denmark's largest commercial pension fund is maintaing its billion-kroner investments in fossil fuel companies despite uncertain market conditions and criticism from environmental organizations. "I understand the dilemma, but I don't understand why people are so certain about what the right thing to do is," says PFA's group CIO Kasper Ahrndt Lorenzen.

PFA also invests in renewable energy sources including off-shore wind, says Kasper Ahrndt Lorenzen. | Photo: PR

PFA, sees no reason to sell its oil equities. The corona-related oil crisis, and critics who say that PFA should be more socially responsible and invest in green energy, have made no difference.

"We do not disagree that we need to back up the Paris Agreement. We do not disagree about the goal - we disagree about the methods. We also fundamentally believe that if companies don't fall in line with the Paris agreement, they will be badly-positioned and lose money," emphasizes Kasper Ahrnt Lorenzen, group investment director at PFA.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from AMWatch

Further reading

Related articles

Latest news

AMWatch job

See all jobs

See all jobs

Watch job

See all jobs

See all jobs

Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch