PFA Pension is a Danish pension fund. It invests on behalf of more than one million customers.[i]
PFA Pension’s Policy for Responsible Investment states that the pension fund does not wish to invest in companies that produce controversial weapons, including nuclear weapons.[ii]
PFA Pension’s policy applies to all asset management activities, including those managed by external asset managers.[iii] Until 2014, individual clients were allowed to invest in an externally managed fund that was not covered by the pension fund’s responsible investment policy. PFA Pension closed this loophole in its policy in 2014 when it introduced index-linked funds managed by PFA Pension that do not invest in nuclear weapons producers.[iv]
PFA uses an exclusion list based on the research of GES and other sources. The exclusion list is available online and currently contains the following companies for involvement with nuclear weapons: Airbus; BAE Systems; Boeing; Finmeccanica; GenCorp[v]; General Dynamics; Honeywell International; Jacobs Engineering; Lockheed Martin; Northrop Grumman; Orbital ATK; Raytheon; Safran and Serco.
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I saw on www.dontbankonthebomb.com that you have a comprehensive policy prohibiting investments in nuclear weapons producing companies.
Financial institutions like yours are helping to build the stigma around these inhumane weapons, something that is urgently needed. Nuclear weapons are the only weapon of mass destruction that’s not explicitly outlawed through an international treaty- and thanks to your policy we can show how important and necessary it is that all of society act urgently to prohibit and eliminate nuclear weapons once and for all.
Thank you for your help in creating a nuclear weapons free world.
With kind regards,
[i] PFA, “PFA’s Facts and Figures”, website PFA (http://english.pfa.dk/about%20pfa/who%20are%20we/pfa%20in%20numbers%20and%20figures/), viewed 10 June 2015.
[ii] PFA, “Policy for Responsible Investment”, page 2, May 2014, available at http://english.pfa.dk/-/media/dokumenter%20English/CSR/Policy%20for%20responsible%20investments.pdf, viewed 10 June 2015.
[iii] PFA, written respons to PAX dated 2 June 2015.
[iv] PFA Pension, “PFA’s policy for responsible investments – scope”, website PFA (english.pfa.dk/about%20pfa/who%20are%20we/csr/responsible%20investments/the%20scope%20of%20the%20policy/), viewed 10 June 2015; PFA Pension, written response to Profundo dated 29 July 2014; PFA Pension, written response to PAX dated 2 October 2014.
[v] GenCorp renamed itself in 2015 and is now called Aerojet Rocketdyne.