Danish pensions and insurance industry sets common standard for carbon reporting

Danish pension and insurance companies have adopted a common set of measuring principles to help reduce carbon emissions from their investments.

In 2019, the Danish government launched 13 climate partnerships in order to produce recommendations on how Denmark’s business community may contribute towards nationwide targets of reducing greenhouse gas emissions by 70 per cent by 2030.

The partnership for the financial sector, led by PensionDanmark CEO, Torben Möger Pedersen, has now produced concrete measuring points for the sector’s climate commitments.

The standards also include reporting rules on damage prevention, active ownership and use of paper.

“Since we handed our recommendations over to the government, our industry has worked hard to prepare an industry recommendation that can help create transparency with regard to our goals for clients’ climate footprint, client interaction and project delivery, sustainability in our business models, and cutting down our own emissions,” said Pedersen.

Going forward, climate footprint will be measured consistently across the board, while targets focus on reducing clients’ investment carbon footprint.

“It is a demanding task when our companies are calculating total carbon emissions from total investments. But we are committed to our goals of cutting carbon emissions, and that is why it has been so important to get a common standard in place,” said Kent Damsgaard, CEO of Forsikring & Pension.

“We all need to contribute to fight global climate change, and now we’re taking the lead as an industry and creating transparency with regard to our climate footprint. We are the largest investors in this country, and that obviously puts us under an obligation,” he added.

Last month, Forsikring & Pension came out in support of Danish Prime Minister, Mette Frederiksen’s, progress with the government’s climate roadmap.

At the DI Summit, the Prime Minister confirmed that the government was on track with its policy to introduce climate targets set to be in place to meet Denmark’s climate goal for 2030.

    Share Story:

Recent Stories

Podcast: The benefits of private equity in pension fund portfolios
The outbreak of the Covid-19 pandemic, in which stock markets have seen increased volatility, combined with global low interest rates has led to alternative asset classes rising in popularity. Private equity is one of the top runners in this category, and for good reason.

In this podcast, Munich Private Equity Partners Managing Director, Christopher Bär, chats to European Pensions Editor, Natalie Tuck, about the benefits private equity investments can bring to pension fund portfolios and the best approach to take.

Podcast - The power of three: Using Common Contractual Funds to improve tax outcomes for investors
Large asset owners are still investing in equities in a way where they are taxed on their income. The implication is that they get a poorer return. They need to, and can, improve this, but how?

In this podcast, AMX Head of Client and Manager Development, Aaron Overy, and AMX Product Tax Specialist, Kevin Duggan, discuss with European Pensions Editor, Natalie Tuck, about three options to help ensure good withholding tax outcomes for institutional investors.
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.