Responsible Investments

Good risk-adjusted returns, focus on corporate responsibility and climate considerations go hand in hand. And here at PFA, we do not only want to invest responsibly - we also want to use our influence and move the world in a more positive direction.

Returns and responsibility go hand in hand

At PFA, we want to contribute to a good and sustainable societal development by investing responsibly while at the same time generating good returns. Among other things, we do this by backing the Paris Agreement, actively contributing to meeting the UN’s Sustainable Development Goals, entering into important partnerships and investing billions of Danish kroner in the green transition.

At the same time, as active owners, we are doing our part to influence companies to pursue a positive path that benefits both people and the environment. We do this because we believe that responsible business models are the key factor to good long-term returns and because we believe that together with our many customers we can be part of making a difference in the way that we invest.

We have committed ourselves to making our total investments carbon-neutral by no later than 2050. As a sub-target, towards 2025 we will reduce the CO2 emissions of our investments by 29 per cent. 

We also give our customers the choice of investing all or part of their pension savings in PFA Climate Plus, where we are even more ambitious in terms of reducing CO2 emissions. The ambition is for the entire product to be carbon-neutral in 2025. Learn more here



As Denmark’s largest commercial pension company, we are a very large community. Together, we can make a difference and create the frameworks for a good life and a better world, both now and in the future. In this video, you can see specifically how PFA is working with responsibility and what it means for our many customers - private customers as well as corporate and organisational customers.

You can read about our approach to responsible investments under the various areas


Active ownership

We take responsibility for the development of the companies that we invest in.

Learn more


Climate & investments

We contribute to the green transition and a sustainable development.


Learn more  


Tax behaviour

We do not tolerate aggressive tax planning and behaviour that takes advantage of loopholes in the tax codes.

Learn more 


Sustainability and PFA's pension products

We provide sustainability-related information about our products.


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Policy and guidelines

We base our decisions on internationally recognised standards and principles.


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Human rights

We want to contribute to protecting human rights and promoting sustainable development in the companies that we invest in.

Learn more 


Government bonds

We invest in government bonds, but we must do so in a way that respects international convention.

Learn more  


Exclusion of companies and countries

We prioritise entering into a dialogue rather than excluding companies. However, there may be cases where an exclusion is required.

Learn more and view exclusion lists

Latest reports

CR Report 2022

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CR Strategy 2022

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