The Établissement de Retraite additionnelle de la Fonction publique (ERAFP), the first French public pension fund, will be divesting from companies whose turnover from thermal coal-related activities exceeds 10% of the turnover.
Two large Dutch pension funds – PFZW and ABP – revealed that pension reductions are inevitable by 2020, with low interest rates increasing liabilities.
The Swiss group plans to apply a negative rate of -0.75% for wealthy clients with deposits over CHF 2m.
Oslo’s municipal pension fund (with €10bn of assets) has stepped up its climate objectives, as prompted by the city council. Its Chief Executive Officer explained the details at Agefi’s Global Invest Forum.
Robeco will advise Pensioenfonds ING, the Dutch corporate pension fund with an invested capital of €28bn, on ESG issues.
PKA now tallies 70 oil and gas firms and 71 coal companies on its negative list.
A majority of Swedes (64%) want to be able to choose funds themselves as part of their premium pension plans.
KLP, Norway’s largest pension fund with more than $81bn assets under management, divests from companies that derive more than five percent of their revenue from oil sands-based operations.
The report follows a request from the European Commission.
Norway’s $1trn sovereign fund has announced that it will gradually phase out oil and gas companies engaging in upstream activities such as exploration and production, while retaining refiners and other downstream operators.
The European insurance sector is the largest institutional investor in the EU with more than €10.3trn of assets under management invested in the economy in 2018, according to data by Insurance Europe.