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Danish Pension Fund Dumps Shares in 10 Colossal Fossils, Citing Failure to Meet Paris Goals

September 3, 2019
Reading time: 1 minute

Gina Dittmer/PublicDomainPictures

Gina Dittmer/PublicDomainPictures

Denmark’s $20-billion MP Pension fund is selling off its shares in 10 of the world’s most colossal fossils, after concluding they aren’t serious enough about meeting their responsibilities under the 2015 Paris Agreement.

“The divestment, which represents a total of DKK 644 million (US$95 million), means MP will no longer hold shares in ExxonMobil, BP, Chevron, PetroChina, Rosneft, Royal Dutch Shell, Sinopec, Total, Petrobras, or Equinor,” Bloomberg reports.

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“The companies are still working against more demanding climate regulation—despite the companies’ public support for the Paris Agreement,” MP said in a statement released yesterday. While four of the big European fossils on the list—BP, Shell, Total, and Equinor—were “showing signs of transitioning,” they stood in contrast to the other six, and none of the 10 had business models that were compatible with the Paris targets.

“The divestments announced on Tuesday represent about two-thirds of MP’s stock holdings in oil,” Bloomberg writes, citing the fund’s head of investments, Anders Schelde. “MP, which is based outside Copenhagen, said it will assess over 1,000 oil companies before the end of 2020 as part of its goal of revamping its portfolio to be more focused on the climate.”







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The End of the World vs. the End of the Week: Carney’s Pushback on Trump’s Bullying Could Point to the Next Energy Transition Moment

by Mitchell Beer
August 23, 2026

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Danish Pension Fund Dumps Shares in 10 Colossal Fossils, Citing Failure to Meet Paris Goals

September 3, 2019
Reading time: 1 minute

Gina Dittmer/PublicDomainPictures

Gina Dittmer/PublicDomainPictures

Denmark’s $20-billion MP Pension fund is selling off its shares in 10 of the world’s most colossal fossils, after concluding they aren’t serious enough about meeting their responsibilities under the 2015 Paris Agreement.

“The divestment, which represents a total of DKK 644 million (US$95 million), means MP will no longer hold shares in ExxonMobil, BP, Chevron, PetroChina, Rosneft, Royal Dutch Shell, Sinopec, Total, Petrobras, or Equinor,” Bloomberg reports.

Get the latest climate news and analysis, direct to your inbox.

Subscribe Today

View our latest digests

“The companies are still working against more demanding climate regulation—despite the companies’ public support for the Paris Agreement,” MP said in a statement released yesterday. While four of the big European fossils on the list—BP, Shell, Total, and Equinor—were “showing signs of transitioning,” they stood in contrast to the other six, and none of the 10 had business models that were compatible with the Paris targets.

“The divestments announced on Tuesday represent about two-thirds of MP’s stock holdings in oil,” Bloomberg writes, citing the fund’s head of investments, Anders Schelde. “MP, which is based outside Copenhagen, said it will assess over 1,000 oil companies before the end of 2020 as part of its goal of revamping its portfolio to be more focused on the climate.”







in Community Climate Finance, Oil & Gas, UK & Europe

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Trending Stories

Facebook

540+ Dead, Hundreds Missing as Towering Flash Flood in Nepal Points to Extreme Heat, Heavy Rainfalls

August 28, 2026
1000
Sarah Yurchevich

Alberta Woman Maps Out the Facts About Power-Hungry Data Centres

August 25, 2026
756
picryl

Trump Trade War Could Be a Catalyst to Speed Canada’s Energy Transition, Experts Say

August 25, 2026
720

The End of the World vs. the End of the Week: Carney’s Pushback on Trump’s Bullying Could Point to the Next Energy Transition Moment

by Mitchell Beer
August 23, 2026

…

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