Pension companies will squeeze oil giants

Oil and gas companies have invested billions in oil which cannot be sold if the world meets climate reduction targets set out in the Paris deal.
Photo: /ritzau/Charlotte de la Fuente
Photo: /ritzau/Charlotte de la Fuente

Some of the world's largest oil and gas companies have vast sums located in oil reserves, which will offer few financial returns if the climate reduction targets in the Paris climate deal are upheld. This is the conclusion of a comprehensive report published Wednesday by Danish pension fund PKA together with four other European pension funds, reports Danish newspaper Politiken.

Already a subscriber?Log in here

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.

With your free trial you get:

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
Must contain at least 6 characters
Must contain at least 2 characters
Must contain at least 2 characters

Get full access for you and your coworkers

Start a free company trial today

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Further reading

Recent years have mauled global turbine industry, and German Nordex also notes growing deficits. | Foto: Nordex

Nordex deficit doubles in 2022

For subscribers