Danske Invest adds 90 firms to exclusion list after Paris pledge

Ulrika Hasselgren, Head of Responsible Investing at Danske Bank, has been busy since starting work at Danske Bank a month ago. In her team's first public move, 90 companies in the thermal coal and tar sand businesses are being removed from the bank's investment universe.

Photo: /ritzau/AP/Huang Shi Peng

Only a month after sitting down in her new office for the first time, Danske Bank's head of responsible investment is ready to make changes in the bank's investment universe. Ulrika Hasselgren and her team have decided to add 90 companies to the bank's exclusion list, as a consequence of the group's endorsement of the Paris Pledge for Action to help limit global warming to a maximum of 2 degrees Celsius. 

The companies — which make 30 percent or more of their revenue from thermal coal and/or tar sands or generate power from these energy sources — will not be a part of Danske Bank's investment universe in the future. The decision affects all funds under Danske Invest, all of Danica Pension's products and the strategic portfolios of Danske Bank, but ETFs and external funds are not subject to it.

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