Allocators

Danish Pension Funds Join UNPRI

Stockholm (NordSIP) – JØP, the Danish professional fund which covers lawyers and economists, and DIP, which covers engineers, have both signed up to the UN-backed Principles for Responsible Investment (PRI), citing the desire to continue and strengthen their work on responsible investing.

“JØP has worked on responsibility in our investments for many years, and through our membership of the PRI we look forward to being able to take part in working groups and networks under the auspices of the PRI, as well as having access to information about responsible investments from PRI,” the fund said.

According to their respective websites, as members of PRI, JØP and DIP commit themselves to:

  • Incorporating environmental and social issues into investment analysis and decision making;
  • Being active owners and incorporating environmental and social conditions in their policies and processes relating to investments;
  • Encouraging companies they invest in to be open about their work with environmental and social issues;
  • Promoting acceptance and implementation of the Principles within the investment industry;
  • Cooperation with a view to enhancing effectiveness in implementing the Principles;
  • Reporting on their activities and progress towards implementing the Principles

The developments follow the re-joining to the UNPRI of ATP, PFA, PKA and Sampension last year, following a controversy in 2013 when several pension funds quit the organization. Industriens and PensionDanmark have yet to return, however.

Meanwhile, Investment and Pensions Europe reports that PBU, the Danish fund for education practitioners, said it strengthened its focus on ethics and responsibility in 2016. “As an active owner, Paedagogernes Pension has voted for shareholder resolutions which support positive development for people, society and environment,” the fund said. The fund ruled that its employees would under no circumstances accept gifts from suppliers or external investment firms.

Returns on market-rate pensions rose to 8.4% in 2016, up from 3.7% in 2015 amid a leadership change, the fund disclosed in its annual report.

Picture: (c) KN–shutterstock.com

Kames Capital
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