PenSam keeps oil firms at distance

Increasing energy prices, reflected in oil company earnings, are not enough to make investors reopen their treasure troves for fossil companies, says pension provider PenSam. ”It’s a sector with problems,” states ESG head.

PenSam’s head of ESG, Mikael Bek | Photo: Pensam/PR

Oil firms represent a large part of companies excluded from financial institutions’ portfolios, and there is no outlook for an alteration of this strategy.

Investors have high sustainability demands for the investment portfolio, which for long have made it hard for fossil energy companies to convince that they within a foreseeable future can see their way out of the current business.

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