Danica Pension increases target: Investments in green conversion must reach DKK 50 billion by 2023

1 November 2021

Danica Pension is now moving the target for investments in the green transition two years forward, so the ambition now is to have invested at least DKK 50 billion in the green transition already in 2023. If this happens, Danica Pension’s investments in the green transition will increase fivefold in four years.

Danica Pension is now raising its climate ambitions further and advancing the target for investments in the green transition by two years. This is happening in the wake of the fact that the existing 2023 target of DKK 30 billion has already been reached. This means that Danica Pension’s new ambition is to have invested at least DKK 50 billion in the green transition in 2023. Investments in the green transition cover investments in companies, foundations or projects that contribute to achieving the goals of global climate ambitions. It is an important step on the way to achieving the long-term goal of having invested at least DKK 100 billion in the green transition by 2030 and having CO 2 -neutral investments by 2050.

“Action is needed here and now if we are to slow down climate change before it is too late. That is why we are now raising our ambitions in the short term. We have shown that we put action behind the words, because since 2019 we have more than tripled our investments in the green transition to DKK 32.9 billion today. We have done this at the same time as our customers have received one of the best returns on the market in terms of costs, ”says Ole Krogh Petersen, CEO of Danica Pension.

The new goal is based on reconciling climate action and attractive returns, and according to Ole Krogh Petersen, the market for green investment opportunities will mature even more in the coming years and make it possible to achieve the new 2023 ambition.

“There has been good momentum in recent years, where we, among other things. has invested approximately DKK 17 billion in green bonds and more than DKK 800 million in Swedish Northvolt, which supplies batteries for electric cars. Tighter climate regulation and increased demand for green solutions will move more companies towards greener alternatives, and the recent energy crisis also exacerbates the need to expand renewable energy. Those movements are expected to give us attractive investment opportunities, so I am convinced that we can deliver on our new climate goals and at the same time create an attractive return for our customers, ”says Ole Krogh Petersen.

Source: Danica
Multiple reports with cicle diagram and text

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