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PenSam keeps oil companies on short leash: "Need a concrete plan for exiting oil"

The business model of oil firms isn't tenable in the long term due to the green energy transition, according to PenSam CIO Claus Jørgensen and Head of ESG Mikael Bek. The pension fund now excludes a string of oil outfits including Aker, Equinor and Chevron.
Photo: Russell Cheyne/Reuters/Ritzau Scanpix
Photo: Russell Cheyne/Reuters/Ritzau Scanpix
By astrid sturlason, translated by Jonas Sahl Hollænder

Danish pension fund PenSam's blacklist of companies excluded from its investment universe has grown to 324 companies, including oil giants Chevron, ExxonMobil, Aker and Equinor.

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