PFA Joins Net-Zero Asset Owner Alliance

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Stockholm (NordSIP) – PFA, the Danish pension provider, has joined Net-Zero Asset Owner Alliance, an UN-backed initiative of institutional investors committed to the 1.5°C  Paris Climate scenario and to achieving zero net carbon emissions by 2050.

“This is a significant step for PFA, and an extension of our other work relating to responsible investments and, not least, the climate. The strength of this association of major global investors is the very specific and ambitious goals to which we are committing. Together, we are investing a very large amount, and this initiative can, therefore, help to accelerate the development needed to keep the temperature increase within the framework of the Paris Agreement,” says Kasper A. Lorenzen, Group CIO, PFA.

- Promotion -

Following the announcement by PFA on board, the Alliance now has 23 large investors among its members, with US$4.6 trillion in asset under management. Other prominent members include Folksam Group, PensionDanmark, Alecta, AMF, Nordea Life and Pension and Storebrand. This broad membership and their collective experiences with green investments can also contribute to important knowledge sharing.

“In recent years, many reports from WWF have concluded that most pension companies have not pulled their weight when it comes to the green transition. Now, PFA is taking the lead in Denmark and joins the international club of financially strong investors who take responsibility for the planet we share. The world’s nature and wildlife need the help of investors, and therefore I look very much forward to cooperating with PFA,” says Bo Øksnebjerg, Secretary-General of WWF Denmark, one of the partners in this initiative.

Following this decision, PFA will also launch its climate-conscious savings product – PFA Climate Plus – this summer. The product will allow customers to invest all or part of their savings directly in the work towards the green transition.

“In addition to the commitments we require from each other as participants, we can also use the initiative to share our experience. In some areas, climate-friendly investments are a relatively unknown field, and data quality can be a challenge. By joining together as some of the world’s largest investors, we can find better solutions to those problems than if we work separately,” Lorenzen concludes.

Image by JuergenPM from Pixabay

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In the midst of a global pandemic, Apple announced one of the corporate world’s most ambitious environmental blueprints – to reduce the climate impact of every Apple device to net zero by 2030. The plan involves cutting 75 per cent of the company’s existing carbon footprint, not only for its own business but also across the manufacturing supply chain and product life cycle.

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