Danish pension industry ready to support country’s move to electric cars

Insurance and Pension Denmark CEO, Kent Damsgaard, has said the pensions industry is ready to support the country’s move to electric cars with investments in the Danish electricity grid.

The statement follows the proposal by the Danish government to increase the number of electric cars on the roads in Denmark to 500,000 by 2030. It hopes the move will contribute towards achieving the goal of a 70 per cent CO2 reduction by 2030.

Insurance and Pension Denmark said the industry is ready with the capital to invest in the infrastructure if a sensible and stable framework is set.

“It is necessary that we promote far more environmentally friendly cars, and this requires massive investments in energy infrastructure. The Danish pension industry is ready to look at these investments,” Damsgaard stated.

“Massive investments, however, require a stable framework to be established. We believe that public-private partnership (PPP) models can be the way forward, where private investors contribute capital and execution, while the ownership of the critical infrastructure at the same time remains public.”

Better regulation of the electricity grid is one of the recommendations in the report from the Financial Sector's climate partnership.

Intense negotiations are now expected between the government and the parliamentary parties, which may lead to an increased goal in terms of the numbers of electric cars on the roads, up from 500,000.

Damsgaard said it is difficult to predict what the current goal will be, but what is certain is that the “energy infrastructure will need massive investments to be able to support the increase, and those investments are interesting for the Danish pension industry”.

    Share Story:

Recent Stories


Podcast: How can a cross-border approach to pensions benefit multinationals?
In this podcast, Irish Association of Pension Funds CEO, Jerry Moriarty and AMX Head of Client and Manager Development, Aaron Overy, discuss with European Pensions Editor, Natalie Tuck, how a cross-border approach to pensions can benefit multinational companies.

Podcast - How are investors reacting to climate change in the Nordics?
In this podcast, BNP Paribas Asset Management’s Chief Sustainability Strategist, Mark Lewis, and AP7’s Head of ESG and Communications, Johan Florén, discuss with European Pension’s Editor, Natalie Tuck, how investors are reacting to climate change in the Nordics.
Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows

Europe’s pensions challenges
Francesca Fabrizi meets Matti Leppälä, Secretary General and CEO of PensionsEurope, to discuss the key aims and objectives of the association today.