Despite global uncertainty and a more challenging investment environment, Danish pension companies' green investments have increased in the past year. This is shown by a new report from Forsikring & Pension (F&P).
The total portfolio is now DKK 385 billion, which is DKK 42 billion or 12 percent more than last year. The investments are calculated according to the EU's environmental taxonomy and Article 2.17 of the Disclosure Regulation, which defines the framework for sustainable investments.
- Most people have realized that green investments have been facing headwinds and the market is generally under pressure. Inflation, uncertain supply chains and unrest about the political framework conditions for green investments in many places around the world pose many challenges. But nevertheless, we are once again seeing overall progress in the industry's green investments, says Kent Damsgaard, CEO of Forsikring & Pension (F&P). CEO of F&P, in a press release.
The industry aims to reach a total investment target of 450 billion DKK in green investments by 2030. The target was first announced at the UN General Assembly in 2019 and has since been updated in accordance with the EU's new criteria.
However, continued progress requires stable and long-term political frameworks, especially for large projects such as renewable energy plants and infrastructure, says Kent Damsgaard.
- If more capital is to be attracted to the area, then clear and long-term framework conditions for investment are absolutely crucial. Especially in renewable energy, infrastructure and energy supply, where very large amounts must be invested at the start of the projects. It is a major and risky task to set up, for example, an offshore wind farm. If investors cannot sell the electricity or permits are suddenly withdrawn, as we saw the other day in the USA, then it causes investors such as pension companies to hold back, he says.
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