Frjálsi participates in co-operation between Nordic and British pension funds on environmentally friendly investments

4 November 2021

Frjálsi lífeyrissjóðurinn is one of thirteen Icelandic pension funds that intend to dispose of a total of USD 4.5 billion (about ISK 580 billion) in investments related to clean energy and other environmentally friendly solutions until the year 2030.

The funds have signed a memorandum of understanding in collaboration with the international organization Climate Investment Coalition, which was formally presented this morning at the United Nations Climate Change Conference, COP26, which takes place in Glasgow, Scotland. In addition to the Icelandic funds, numerous other Nordic funds have issued similar statements over the past two years. By signing the letter of intent, the Icelandic pension funds confirm their willingness to be active participants in increasing the share of green investments and to work towards the goal of reducing greenhouse gas emissions in accordance with the provisions of the Paris Agreement.

The funds will, among other things, look at investment options that utilize geothermal energy, but the policy is also to support the increased use of other sustainable energy sources with the aim of promoting increased use of clean energy in transport and business activities. The funds participating in the project are, in addition to Frjálsi, Almenni lífeyrissjóðurinn, Birta lífeyrissjóður, Brú lífeyrissjóður, Festa lífeyrissjóður, Gildi-lífeyrissjóður, Lífeyrissjóður bankamanna, Lífeyrissjóður verzlunarmanna, Lífsverk, LSR, Lífeyrissjóður Stafanni lípanna Reykjavíkur.

Source: Frjálsi
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