Danica Pension, Copenhagen, committed 1 billion Danish kroner ($152 million) to an impact fund managed by BlackRock, according to its website.
The BlackRock Global Impact Fund invests in companies that promote one or more of the United Nations' Sustainable Development Goals in sectors such as health care, economic and digital development, production of sustainable food, clean water and green energy.
The strategy is classified as an Article 9 fund under the European Union's Sustainable Finance Disclosure Regulation.
"In our collaboration with BlackRock, we can take another big step forward in our work to create a positive development and solve some of the biggest societal problems in the world," said Ole Krogh Petersen, Danica CEO, in a news release Wednesday. "By purposefully investing 1 billion kroner in companies that work to achieve the U.N.'s global goals, we can support social improvements and contribute to the green transition at a global level."
The investment is part of Danica's ambition to reach 100 billion kroner in green assets by 2030. Danica has about 500 billion kroner in retirement assets.
A spokesman could not be reached to provide further details.