Forsikring & Pension urges Danish govt to establish roadmap for green transition

Forsikring & Pension has called on the Danish government to draft and implement an economic roadmap for the country’s green transition.

Its proposal report, A green direction for Denmark, outlines 13 proposals that the government could adopt to accelerate the transition to a green economy.

It noted that although the process of investing Danish pensions for the benefit of the climate has begun, there is “huge potential to do more” if the framework and direction are established.

“We have two basic tasks in relation to the climate,” commented Forsikring & Pension CEO, Kent Damsgaard. 

“The first is to combat climate change - and the second is to adapt to the drastic changes that are unfortunately already a reality. 

“The insurance and pension companies are deeply committed to both and provide solutions, but there is a huge potential to do more.”

He noted that the green transition needs “massive investments” in new technologies, which the public purse cannot handle on its own.

Therefore, Danish pension companies have signed up and “are ready” with additional green investments.

However, Damsgaard stated that to take advantage of the investment power of pensions, a clear roadmap was needed.

Forsikring & Pension also proposed that Denmark establishes a climate fund within the forthcoming Finance Act and that the government agrees to a national action plan “as soon as possible”.

“Climate change has already had some serious consequences, as we also saw with our neighbours in Germany this summer,” Damsgaard continued. 

“After all, our companies work every day to prevent injuries and help when the injury has occurred. 

“But there is a need for climate adaptation to move completely up the national agenda. With a clear strategy and a focused effort in the areas that are most vulnerable.”

The government was also encouraged to introduce just as ambitious climate requirements for the public sector as the private sector.

Damsgaard concluded: “The high Danish climate ambitions are right, so therefore it is positive to see that the business community has broadly backed so clearly up to 70 per cent of the objective. 

“Especially in societies like Denmark with a large public sector, however, it is also absolutely crucial that we also get the entire public sector restructured, so that, for example, public buildings also get more involved in the climate fight. There we miss some opportunities today.”

    Share Story:

Recent Stories


Podcast: Stepping up to the challenge
In the latest European Pensions podcast, Natalie Tuck talks to PensionsEurope chair, Jerry Moriarty, about his new role and the European pension policy agenda

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.

Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows