LV participates in co-operation between Nordic and British pension funds on investments in clean energy production

3 November 2021

Lífeyrissjóður verzlunarmanna (LV) has set itself the goal of investing ISK 150 billion in clean energy production and climate-related projects by 2030, under the auspices of CIC, the “Climate Investment Coalition”. These new goals are in addition to the ISK 30 billion that LV has already invested in such projects.

LV is one of thirteen Icelandic pension funds that aim to invest a total of ISK 580 billion in sustainable energy production and related projects by the end of this decade. In total, the liabilities of the Nordic and British pension funds responsible for CIC amount to USD 130 billion.

LV’s participation is part of the pension fund’s increased emphasis on responsible and sustainable investments. It is in line with the Pension Fund’s newly published policy on responsible investment as well as a policy on exclusion in LV’s portfolios, which includes the exclusion of investment options based on the production of specified types of fossil fuels.

With LV’s participation in the CIC, LV wants to support the goals of the Paris Agreement from 2015 on reducing greenhouse gas emissions.

Source: LV