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A $20 Billion Fund in Denmark Is Dumping 10 Major Oil Companies

From bnnbloomberg.ca

A $20 billion fund in Denmark, MP Pension, is selling its stakes in the 10 biggest oil companies after deciding they haven’t done enough to live up to climate goals set out in the Paris accord. The divestment, which represents a total of 644 million kroner ($95 million), means MP will no longer hold shares in ExxonMobil, BP, Chevron, PetroChina, Rosneft, Royal Dutch Shell, Sinopec, Total, Petrobras or Equinor, according to an emailed statement on Tuesday. MP said it reached its conclusion on the stakes because “the companies are still working against more demanding climate regulation -- despite the companies’ public ... (full story)

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  • Category: Fundamental Analysis