The Danish pensions industry has invested a further DKK 68bn in the green transition over the past year, according to Forsikring & Pension (F&P).

This increase in investment in the green transition brought the total amount of green investment by pension companies to DKK 240bn over the year, down slightly from DKK 248bn last year.

The slight fall was primarily attributed to the losses in the exchange rate, but other factors have also played a part.

Among other things. a clarification of the accounting guidelines has expectedly contributed to a decline in green investment, as well as the fact that several companies have already switched to the EU's new environmental taxonomy, which has affected the framework for what can be calculated as green.

F&P noted that the calculation method of green investments was full of issues and is improving year on year.

“With the fresh DKK 68bn, the Danish pension companies show that our savings are still driving the green transition,” commented F&P CEO, Kent Damsgaard.

“It really is a strong development in the industry's green investments. The Danish companies contribute massively with investments to climate solutions both at home in Denmark and in the rest of the world.”

Damsgaard noted that he was therefore pleased that the industry’s overall green investments have largely been maintained from last year, despite a sharp decline in the markets and economic crisis.

“The green objectives have been exposed to a stress test here in 2022, when the markets have declined so massively,” he continued.

“But it is clear to see that the focus remains on investing in green solutions and energy independence. Despite the slight decrease in the industry's total green investments, the industry is still on track, and it is realistic to reach the target of a further DKK 350bn in 2030.”

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