Latest Denmark News
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Annual Danish embassy climate race
It is divided into two parts, among which the first part took place in downtown Beijing starting from the Danish Embassy; followed by a second part together with bike clubs and association in a park of Yanqing County on the northwestern outskirts of Beijing. The Danish Embassy provided bikes and biking equipment for all participants, as well as transportation to and from ...
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Denmarks Tear Drops wins Eurovision
Bookies favourite Emmelie de Forest has won Eurovision for Denmark, beating the 25 other finalists in a glittering ceremony in Sweden.Denmark, widely tipped to win the annual music competition, took the honours on Sunday ahead of the 25 other finalists in a glittering ceremony watched by millions across Europe. The Scandinavian country last won the contest in 2000 with Fly on the wings of Love ...
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Danish pension fund faces ‘extremely unsatisfactory’ 2008 returns
Bankpension, a pension fund for employees in the Danish financial sector, has reported ';extremely unsatisfactory'; 2008 results, with yields after tax standing at -19.7 per cent. In its annual report of results, Bankpension says that its gross yield including interest cover before tax for 2008 was -23.1 per cent, and reveals that the return on investment before currency and ...
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Swedish AP Funds’ Ethical Council releases 2008 report
The Ethical Council of Sweden’s First to Fourth AP Funds has reported on 2008’s progress in its engagement with companies suspected of violating the ethical guidelines which preside over the four Funds’ investments, with success in several cases. When the Ethical Council identifies a breach of convention, it often indicates that a company has failed to acknowledge ...
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More woe for Norwegian pension funds
Norway's Government Pension Fund lost NOK 29.6bn (€2.95bn) in 2008, a massive drop attributed to the equities, according to figures from Folketrygdfondet. The asset manager is a state-owned company, and is solely responsible for the domestic pension fund which invests only in Nordic countries. It has confirmed in its annual report for 2008 that the scheme had dropped by NOK ...
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Second Swedish Pension Fund takes huge tumble
The Second Swedish National Pension Fund/AP2 has recorded a sharp fall in its market worth for 2008, amounting to a return of -24 per cent on net assets. The return value, SEK -55.1bn, meant the Fund’s capital assets totalled SEK 173.3bn at the end of December 2008, and had a net inflow of SEK 0.9bn. The capital asset value was SEK 54.2bn lower than in 2007. The drop has been ...
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Norwegian Government Fund makes further exclusions towards more ethical investments
Following a recommendation from the Council on Ethics for the Government Pension Fund – Global, Norway’s Ministry of Finance has excluded American company Textron Inc. Corporation from the fund. Keeping in line with Norway’s pledge towards ethical investment, the country has excluded nine producers of cluster weapons from the investment branch of the Fund on the basis ...
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Norwegian pension fund reconsiders Israel investments
Norway’s Ministry of Finance is referring to its Ethical Guidelines for the Norwegian Government Pension Fund – Global following the situation in Gaza. According to the current Guidelines, the Council on Ethics shall recommend exclusion of companies from the fund’s investment universe where they see a considerable risk of contributing to serious or systematic human ...
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Norway Global fund suffers 7.7 drop
Norway’s Government Pension Fund – Global recorded all-time low returns of -7.7 per cent in quarter three of 2008 (Q3 2008), 1.8 per cent lower than that on the benchmark portfolio defined by the Ministry of Finance, according to the latest quarterly report by Norges Bank Investment Management (NBIM). NOK 128bn of transfers were made to the fund in the quarter, and at the end ...
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Norway’s Government Pension Fund not addressing climate change
Norway’s Government Pension Fund has neglected to apply best practice in sustainable investments and is not yet fully addressing the impacts of global warming, according to the World Wildlife Fund, Norway (WWF-Norway). The fund, which is based on petroleum revenues, is currently estimated at $381bn, and is the world’s second largest sovereign wealth fund. More than one per ...
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Swedish pension funds sell cluster-bomb holdings
Holdings in companies that market cluster weapons are to be sold by the Second Swedish National Pension Fund (AP2) and Forsta AP-fonden (AP1). The decisions have been made on the recommendation by the Ethical Council of the Swedish National Pension Funds, a convention endorsed by Sweden in May 2008, and the First to Fourth Swedish National Pension Funds have been advised to exclude ...
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Norway’s Economic Survey shines light on future of pensions
The medium-term outlook for public finances in Norway are in relatively good shape, partly due to increasing pension fund revenues, according to the Organisation for Economic Co-operation and Development’s ...
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ABP breaks into Norway
ABP’s recent investment in the Nordics is down to research showing that ';GDP growth in the Scandinavian countries will be the highest in Europe in the coming years,'; according to ABP investment spokesman, Michel Meijs. ABP Pension fund (ABP), a Dutch organisation, and Klepierre SA (Klepierre), a France-based real estate company, joined forces and entered into an ...
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Finland in need of pension reform says OECD
It will be vital that the Finnish economy keeps a large government surplus in the coming years and to ensure that labour force participation, especially among older workers, continues to rise, if it is to continue to perform well. The Organisation for Economic Co-operation and Development (OECD) has today published ...
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Swedish pension fund pulls out of cluster bombs
Swedish pension fund AP7 will sell all its holdings in companies making cluster bombs and nuclear weapons. The move by AP7, one of seven state-owned pension funds in Sweden, means holdings in Airbus parent EADS and US-based Lockheed Martin Corp. and General Dynamics Corp. will be sold. AP7 manages pension savings worth around 90bn kroner (about $15bn). The move follows news in April ...
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Swedens AP funds update
Sweden’s AP1 – one of the buffer funds assigned by the Swedish Parliament to manage the Swedish people’s pension funds – has posted strong performance figures in both absolute and relative terms for the first half of 2007. The Forsta AP-fonden, which manages assets with a value of SEK 221bn, reported a total return on net assets of 6.3%, which is equal to SEK 1.3 bn ...
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Swedish companies avoid the red
Swedish pension companies were given favourable evaluations by The Swedish Financial Supervisory Authority, Finansinspektionen (FI), in the Q2 2007 traffic light report. No insurance companies received a red light during that period, while pension companies as a whole – including life insurance companies and occupational pension funds – showed a larger margin to the red light ...
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At least 87 killed in twin attacks in Norway first suspect arrested
A gunman wearing police uniforms and police identification landed on a small island about 40 kilometers west of Oslo, shooting people at a youth camp two hours after the deadly bomb explosion rocked the government building quarters in the Norwegian capital city. (Xinhua/AFP Photo) The death toll of the twin attacks Friday in Norway may surpass 87 after more victims were discovered in the ...
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Ambassador Sanders discuss Danish system
Monday May 20, 2013 BRATTLEBORO -- Sen. Bernie Sanders, Vt-I, invited the Danish Ambassador Peter Taksoe-Jensen to speak about what the United States could learn from Taksoe-Jensen’s country, which has universal health care as well as a unique education system. "I believe there’s an enormous amount we can learn from them," said Sanders, who credited Denmark’s ...
A Look at Copenhagen
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Copenhagen leading the eco-charge
Copenhagen has, for many decades, been an extremely influential city in world affairs, most notably in the realm of environmental management and conservation activities. It is in Copenhagen that world leaders meet to agree on eco-friendly policies at the famous Copenhagen Accord, and the city will host mayors from around the world at the Copenhagen Summit. So what is the extent of the city’s leadership on such issues?
Copenhagen has long been considered one of the most environmentally friendly cities in the world. In 1973 Denmark was the first country in the world to implement a national Environmental Law, and this paved the way for a strong combination of national and municipal legislation aimed at limiting the cities carbon footprint. Read more
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