PensionDanmark rejoins PRI
Written by Sunniva Kolostyak
Danish pension fund PensionDanmark has rejoined the UN Principles for Responsible Investment (PRI) as a signatory after leaving in 2013.
According to PRI, PensionDanmark signed the Principles on 10 July 2019, and a PensionDanmark spokesperson confirmed to European Pensions that the pension fund has become a member of PRI again.
“We are looking forward to take an active part in PRI’s actions for responsible investments,” the spokesperson said.
“This particularly regarding the efforts to measure and benchmark investors’ impact on investments that meet the vision of the Sustainable Development Goals (SDGs) and the central aim of the Paris Agreement to pursue efforts to limit the temperature increase to 1.5 degrees Celsius.”
The pension fund decided to leave the organisation in December 2013, together with six other Danish pension providers, due to governance issues.
The group of investors then said it had observed the governance of PRI with concerns that it “does not live up to the basic standards we as investors would expect of the companies in which we invest”.
“Despite numerous attempts to improve the conditions within PRI, we must, unfortunately, acknowledge that these attempts have not been successful.”
The pension funds which left PRI in 2013 were ATP, Industriens Pension, PensionDanmark, PFA, PKA and Sampension. In 2016, ATP, PFA, PKA, and Sampension signed up to the principles again.