Denmark’s Pension Fund P+ Divests Oil and Gas Firms
- Fund’s decision targets companies expanding production
- Move follows wave of divestments and exclusions targeting oil
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The Danish pension fund P+, which manages about $23 billion in asset, said it will no longer invest in oil and gas companies that are expanding production, joining a growing list of institutional investors tightening their climate policies.
Katrine Ehnhuus, a board member of the Copenhagen-based fund, said in a post on LinkedIn that directors voted overwhelmingly to adopt the new investment criteria. The measure was proposed by members and had the support of the board. P+ hasn’t provided details of divestments related to the decision.