News in English

Danish companies fail to prioritize climate when choosing a pension plan for their employees

A new survey from ResponsibleFuture (AnsvarligFremtid) shows that Danish companies are hesitant to prioritize the climate when choosing a pension scheme for their employees. The survey thus shows that companies prefer to leave it up to the individual employee to opt for more climate-friendly investments instead of the company demanding climate-responsible investments for all employees. Thus, there are no companies that set specific documentation requirements for the offered pension products to support the Paris climate agreement....

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Paris-aligned investment standard for pension funds

AnsvarligFremtid (Responsible Future) current proposal for a definition of Paris compatibility for investments and transparency The following 8 criteria summarize AnsvarligFremtid´s proposal for defining Paris-compatible pension fund products as of April 2022. The criteria will undergo continuous adaptation as new knowledge emerges about the scientific basis for climate change, as well as new technical information on investments and company specific data become available. 1) The carbon footprint of the pension product can serve as...

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Pension fund members made important progress for the climate at this year’s general meetings

With as many as 21 climate resolutions - filed by members - at 10 general meetings, the climate was once again in focus at this year's general meetings of Danish pension funds. Among these member filed resolutions: ● 8 resolutions were adopted with the support of the pension fund board ● 4 resolutions were voted through without the board's backing. ● 9 resolutions were not adopted, but 2 of these are expected to be partially implemented. Among the most important adopted member filed resolutions in 2022 are the following adoptions:...

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Danish Pension industry in support of government proposal for ambitious carbon tax reform

The lobby organization for the Danish insurance and pensions industry “Insurance and Pension Denmark” has recently voiced their support for the Danish government’s proposal for an ambitious carbon-tax reform. This is very positive, since most Institutional Investors tend to shy away from supporting critically important climate political initiatives, but now the Insurance and Pension Denmark takes the lead in the support of an increased carbon taxation. ”We have a common task in Denmark to ensure that a Danish carbon tax leads to...

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Net-Zero Asset Owner Alliance (NZAOA) Climate Voting Transparency and Benchmarking Report

Bloomberg has recently released a news story, suggesting that Climate Voting by NZAOA members is far from sufficient if we are to achieve the goals of the Paris Agreement. The story is based on a report released by Critical Climate Votes, analyzing the climate related proxy votes of members of the Net Zero Asset Owner Alliance (NZAOA) revealing a lack of transparency that casts doubt on the effectiveness of the alliance itself. The report is authored by researchers from Queen’s University Belfast, University of Edinburgh and...

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Danish pension funds failing to engage fossil fuel companies over climate policy

Danish pension funds are failing to support independent climate resolutions at fossil fuel companies, according to a new report by AnsvarligFremtid entitled: THEIR VOTES, OUR FUTURE. HOW DANISH PENSION FUNDS VOTED ON CLIMATE IN 2021. Conducting a survey into how 16 Danish funds voted at annual general meetings this year, we found mixed results: a growing number are divesting, while those who still hold their shares aren’t voting in line with the Paris Agreement. AnsvarligFremtid conducted a survey, asking 16 Danish Pension funds how...

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Pension fund members made important progress for the climate at the 2021 annual general meetings

With as many as 19 climate proposals discussed at 10 general meetings, the climate was again in focus at this year's general meetings of Danish pension funds. Among these proposals, 9 proposals on climate were adopted with the support of the Board. One proposal was voted through without the support of the board, and a total of 9 climate proposals were not adopted. In addition, 2 proposals were submitted, but subsequently withdrawn because the proposals had already been implemented before the...

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Climate concerns take center stage at democratic board election in Danish pension fund P+

April 30, 2021 Candidates with green credentials now constitute a large part of the board in the Danish pension fund P+. This is clear after the members have cast their vote at the board election. The P+ pension fund invests 140 mia. DKK. (~20 bill. Euro) on behalf of 101.000 Engineers, Lawyers and Economists. Two of the candidates with green credentials even achieved the most votes, signaling that the members support the P+ pension fund in its effort to Paris-align the investment portfolio. The newly elected board will represent...

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Clean gas is a dirty lie: Paris-aligned pension funds need to divest from fossil gas companies

Fossil gas is not a “transition fuel” in a 1.5°C world, even though the gas industry claims differently. Today, activists across Europe are calling for recognition of the dangers of fossil gas. Gas Free Pensions, a network of European environmental organizations including Danish AnsvarligFremtid, Fossil Free Sweden, Fossil Free Berlin, and Italian Re:Common, calls on pension funds to recognise the dangers of continuing investment in fossil gas companies. Today, citizen activists under the collective Gastivists in more than 12+...

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German Utilities Hammered in Market Favoring Renewables

http://www.bloomberg.com/news/2013-08-11/german-utilities-hammered-in-market-favoring-renewables.html Across Europe and some of the U.S., utilities that a decade ago dominated markets now struggle to cope with lower prices exacerbated by subsidized renewables that don’t pay fuel costs. The pain is most acute in Germany, which led the world installing solar farms and has the largest offshore wind plans.

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Divesting From Fossil Fuels Means A Cleaner, Safer And More Resilient Future

http://www.forbes.com/sites/ashoka/2013/07/29/divesting-from-fossil-fuels-means-a-cleaner-safer-and-more-resilient-future/ There are still ample reserves to continue building our economy based on fossil fuels, but if we want to stabilize the climate and avoid the most catastrophic effects of climate change, we have to stop investing in extracting, refining and burning them.

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World Bank to limit financing of coal-fired plants

http://uk.reuters.com/article/2013/07/16/us-worldbank-climate-coal-idUKBRE96F19U20130716 (Reuters) - The World Bank's board on Tuesday agreed to a new energy strategy that will limit financing of coal-fired power plants to "rare circumstances," as the Washington-based global development powerhouse seeks to address the impact of climate change.

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