Danica Pension, Copenhagen, launched a new investment option for plan participants in an effort to grow the size of its sustainable allocations to 100 billion Danish kroner ($15.7 billion) by 2030.
The 450 billion Danish kroner defined contribution workplace plan provider said in a news release Monday that all 800,000 participants enrolled in Danica's plans can invest part of their retirement savings with a specific focus on sustainability through the new Danica Balance Sustainable Choice strategy. The option will invest actively in sectors that improve the environment, health care and food production and contribute toward supporting the United Nation's sustainable development goals.
"Together with our customers, we have spent a long time and many resources on developing this new investment solution, because we wanted to be absolutely certain that our customers can make a real, substantial difference in creating a more sustainable world if they want to," Ole Krogh Petersen, CEO of Danica, said in the release.
"It is important to state that it is not a question of either or. Our customers are free to choose what percentage of their savings they want to invest in Danica Balance Sustainable Choice," he added.