The pension fund has tightened the requirements for the world’s largest banks and CO2 emitters. This is done by consistently voting against board candidates if the board’s climate ambitions are not high enough.
The pension fund has tightened the requirements for the world’s largest banks and CO2 emitters. This is done by consistently voting against board candidates if the board’s climate ambitions are not high enough.
Lægernes Pension’s new climate policy came into effect in 2024 and supports the Paris Agreement’s goal of limiting global warming to 1.5 degrees.
The policy, which was adopted at the general meeting in 2023, includes 165 large CO2 emitters and 26 banks. In the first eight months of 2024, Lægernes Pension has voted against 870 board candidates. The goal is to send a clear signal about the necessity of concrete and ambitious climate action.
Lægernes Pension is among the first investors with such a targeted voting policy. Peter Rasmussen, head of sustainability at Lægernes Pension expects that more investors will copy the approach in the future:
– We are still a minority among the shareholders. So in the short term, the effect is that we send an important signal to the companies that they must tighten their course, says Peter Rasmussen.
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