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Pension majors warn against green investment race

Denmark's biggest pension company, ATP, sees a great potential for both the climate and the coffers by investing in black companies with a vision of becoming green. Other pension companies voice their support, while NGO calls it absurd.

According to ATP chief executive Bo Foged, there are both yields and climate gains to reap from investing in black companies that transition into greener ones over the years, as was the case with, for example, Ørsted. | Photo: PR/ATP

By Jakob Martini

It would hurt both yields and the green transition if Danish pension companies shut the door on the dirtier companies in the race to become as green as possible, concludes Denmark's biggest pension company, ATP, which to a large extent is backed by pension executives from PFA, PKA and Akademikerpension.

In an exclusive interview about a new 2023 strategy, CEO Bo Foged explains that ATP doesn't mind utilities operating within coal, oil and gas – that's if they clearly demonstrate a willingness to move towards a greener profile.

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