Danish pension company, Velliv, has published its climate report for the year 2021, noting that it is currently not on target to meet its climate targets.

Velliv has set targets of reducing its portfolio’s CO2 emissions by 60 per cent by 2030 and to be net zero by 2050.

However, the pension company said it was “not at all on target” and that it is working hard to ensure that it lives up to the targets it has set.

The report details how the CO2 emissions from Velliv’s portfolio of listed shares and corporate bonds have developed over recent years.

Velliv noted that is believes active ownership and cooperation with other investors will play a “decisive role” in reaching its targets.

It therefore participates, among other things, in CDP’s Science-based Targets Campaign, a collaboration of more than 200 global investors that aim to encourage more than 1,200 companies to set carbon reduction targets.

“We believe that together with other investors we have a greater opportunity to influence companies and push them to develop in a direction that supports the objectives of the Paris Agreement,” Velliv stated.

The pension company added that it “succeeds” by documenting and reporting on its climate progress, and urged companies to publicly report on their climate impact.

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