Danish pension funds are set to benefit from further climate investment opportunities in the US following the unveiling of President Biden’s climate plan, according to Insurance and Pension Denmark (I&P Denmark).

On Saturday 13 August, the US climate bill passed the final stage and part of it plans to motivate new investments in wind and solar power – an aspect that I&P Denmark said can benefit Danish pension savers.

"Overall, it is positive that the United States is now joining the green agenda so strongly. This means that they are facing huge investments in renewable energy solutions, which the Danish business community and the Danish pension industry have helped to develop through billion-dollar investments over many years.

“Danish companies have been pioneers in the field of renewable energy and energy-efficient solutions. And Danish pension companies have been active with investments in the American market for several years. We are facing a huge potential,” Insurance and Pension Denmark CEO, Kent Damsgaard, said.

He added that the Danish pension industry has helped invest in solar and wind and new technologies.

“Our industry and Danish companies are therefore well equipped to help Americans and the world's largest economy become greener. The US faces huge investments in the coming years. [As a result of the bill being passed] Danish pension companies will also experience even more green projects opening up, which they can put the Danes' pension savings into. This is good news for pension savings here in Denmark,” Damsgaard noted.

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