A $23 Billion Fund Is Dumping Oil Bonds
- AkademikerPension sees growing pricing risks for fossil fuels
- The fund has already blacklisted oil stocks including Exxon
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A Danish pension fund that manages the wealth of the nation’s academics will spend this year purging its portfolio of oil and gas bonds, after concluding that the assets pose a growing risk to returns.
AkademikerPension, which is based north of Copenhagen, says it will dump more than $300 million in fossil-fuel bonds through December. Issuers affected by the decision include Occidental Petroleum Corp., Gazprom PJSC and Petroleos Mexicanos, the $23 billion fund said in an email on Thursday.