PFA

Financial Institutions, Hall of Fame, Report 2018

PFA Pension is a Danish pension fund. It invests on behalf of more than 1.2 million customers. PFA has more than DKK 500 billion (€67 billion) under management.[1]

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.[2]

PFA Pension’s policy applies to all asset management activities, including those managed by external asset managers.[3] In 2014 PFA introduced index-linked funds managed by PFA  to ensure that customers do not accidentally invest in companies that produce cluster weapons, anti-personnel landmines or nuclear weapons.[4]

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: AECOM Technology; Aerojet Rocketdyne Holdings; Airbus; BAE Systems; Boeing; Fluor; General Dynamics; Honeywell International; Huntington Ingalls; Jacobs Engineering; Leonardo; Lockheed Martin; Northrop Grumman; Orbital ATK; Raytheon; Safran, and Serco Group PLC.[5]

Website: https://english.pfa.dk/individual/

Twitter:  @ PFA_Pension

Facebook:https://www.facebook.com/pfapension 

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[1] PFA, “PFA in brief”, website PFA (https://english.pfa.dk/about-pfa/pfa-overview/pfa-in-brief/), viewed 23 January 2018.

[2] PFA, “Policy for Responsible Investment”, page 3, June 2016, available at https://english.pfa.dk/-/media/pfa-v2/english/documents/about-pfa/csr/policy-for-responsible-investments.pdf?la=en, viewed 23 January 2018.

[3] PFA, written response to PAX dated 2 June 2015.

[4] PFA Pension, “PFA’s policy for responsible investments – read about the scope of the policy”, available at (https://english.pfa.dk/about-pfa/corporate-responsibility/responsible-investments/), viewed 23 January 2018.

[5] PFA, “PFA’s exclusion list”, website PFA (https://english.pfa.dk/about-pfa/corporate-responsibility/responsible-investments/) , viewed 23 January 2018.

Last modified March 2018

About Maaike Beenes

Maaike Beenes works for the humanitarian disarmament program for PAX in the Netherlands. She researches investments by financial institutions in producers of controversial weapons, notably nuclear weapons and cluster munitions, and is co-author of the reports ‘Don’t Bank on the Bomb’ and ‘Worldwide Investments in Cluster Munitions’. As part of the Don’t Bank on the Bomb campaign of PAX and ICAN, she works together with campaigners around the world to hold banks and other investors accountable for their investments in nuclear and other controversial weapons. She was involved in the negotiations for the Treaty on the Prohibition on Nuclear Weapons on behalf of PAX and ICAN.