Danish Pension Fund Wraps Up $520 Million Oil and Gas Exit
- Eni exit marks AkademikerPension’s total exclusion of oil, gas
- AkademikerPension says it gave up on trying to engage
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Danish pension fund AkademikerPension has completed a multi-year divestment program designed to purge its portfolio of oil and gas stocks.
The fund, which oversees $20 billion in client assets, said on Thursday it has sold its stake in Eni SpA, which means it has now divested fossil fuel holdings worth a combined 3.7 billion kroner ($520 million), with the divestments spread out over half a decade.