PKA Pension is a Danish pension fund with 275.000 members in the public health care sector. At the end of 2015, PKA held more than €33 billion assets under management.[i]
PKA’s responsible investment policy excludes all nuclear weapons producers, including those involved in production, development, trade, maintenance and specifically designed delivery systems.[ii]
The exclusion policy applies to all asset management activities, managed both internally and externally. However, passively managed funds owned by PKA and those managed by external asset managers are not covered by the policy.[iii]
PKA’s exclusion list is available on its website.[iv] The list is based on research by Sustainalytics and Hermes EOS. As of July 2016, the list contains 29 companies for involvement with nuclear weapons: AECOM; Aerojet Rocketdyne; Airbus Group NV; Areva SA; Babcock International Group; BAE Systems Plc; Boeing Co.; BWX Technologies; Constructions Industrielles de la Mediterranee; Dassault Aviation SA; Ducommun Inc.; Fluor Corp.; General Dynamics Corp.; Harris Corp.; Honeywell International Inc.; Huntington Ingalls Industries; Jacobs Engineering Group; Kratos Defense & Security; Leidos; Lockheed Martin Corp.; Moog inc.; Northrop Grumman Corp.; Orbital ATK; Raytheon Co.; SAFRAN S.A.; Serco Group PLC; Technofan SA; Thales SA, and; United Technologies Corp.[v]
We commend PKA for adopting a public policy on nuclear weapons. We recommend PKA apply the policy to all of its financial products including passively managed funds and externally managed assets. We look forward to engaging with PKA, so a strong and comprehensively applied policy may be listed in the Hall of Fame in a future update of this report.
Pension fund PKA’s policy on nuclear weapons is leaky; send them a message and tell them to fix it!
To send PKA a message, please go to this contact form:
Send this email!
You can write your own message, or copy this message into the contact form.
Congratulations PKA. I saw on www.dontbankonthebomb.com that you have a policy limiting investments in nuclear weapons. I think it’s really important that you share my concern about these weapons, and I appreciate that there is a public policy.
However, the policy does have some loopholes and the Don’t Bank on the Bomb report shows how you still might invest in nuclear weapons producers. I am concerned about this, because PKA also invests my money and I don’t want to be associated in any way with the production of these inhumane weapons.
It would be great if PKA made the following change to make the policy airtight:
• Apply the policy to all of its financial products including passively managed funds and externally managed assets.
With kind regards,
[ii] PKA, written response to PAX dated 20 April 2015; “Guidelines for Responsible Investment”, page 2, not available online but can be requested at PKA. A Danish policy summary is available through the PKA website (https://www.pka.dk/om-pka/sadan-investerer-vi/etiske-retningslinjer/), viewed 30 October 2016.
[iii] PKA, “Guidelines for Responsible Investment”, page 5, not available online but can be requested at PKA.. A Danish policy summary is available through the PKA website (https://www.pka.dk/om-pka/sadan-investerer-vi/etiske-retningslinjer/), viewed 30 October 2016; PKA, written response to PAX dated 20 April 2015.
[iv] PKA, written response to PAX dated 20 April 2015.
[v] PKA, “PKA’s negativliste”, July 2016, available at https://pka.dk/globalassets/om-pka/sadan-investerer-vi/dokumenter/negativliste.pdf, viewed 30 October 2016.