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Pension firms include fossil fuel companies in green government partnership investments

Several pension companies in Denmark have counted in companies like BP, Shell and Halliburton when calculating the EUR 33bn in "green investments" they have committed to through the country's climate partnership scheme, in a move critics are calling "insane."

Photo: BP PR
BY SIMON LUND CHRISTIANSEN AND MICHAEL TRIER DUELUND, TRANSLATED BY CATHERINE BRETT

According to industry association Insurance & Pension Denmark (IPD), Danish pension companies have invested a total of DKK 248bn (EUR 33bn) in green assets -- a total they have reported to the government's climate partnership scheme for the financial sector.

However, an examination of the reported green investments at several companies show that investments in oil companies like BP, Halliburton and Total are lurking beneath the surface.

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