Danske Bank's Fossil Fuel Policy

Mads Steinmüller

Head of Climate and Nature

The majority of the world’s energy supply continues to be supplied by fossil fuels. Dive into how Danske Bank is addressing investments in fossil fuel companies with Mads Steinmüller, head of climate & nature within Danske Bank’s Responsible Investment team.

Banking Sector

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Danske Bank's Fossil Fuel Policy

3 mins 10 secs

Key learning objectives:

Understand Danske Bank’s fossil fuel policy
Identify how Danske Bank’s policies align with the Paris Agreement and contribute to a net zero future

Overview:

Currently, the majority of the world's energy supply, approximately 80%, is derived from fossil fuels. Danske Bank is fully committed to supporting the Paris Agreement and its aim to limit global warming to no more than 1.5°C and takes a firm stance on investments in fossil fuel companies. These policies ensure that companies adhere to a strict set of criteria before investments in them are considered on behalf of customers.

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Summary

What is Danske Bank’s approach to investing in fossil fuel companies?

In order to align with the Paris Agreement and our customer’s sustainable preferences, Danske Bank has introduced stricter requirements for investments in fossil fuel companies. Our approach aims to support the companies that are transitioning their operations and thereby phasing out investments in fossil fuels.

Danske Bank is focusing investments on companies with feasible transition plans. This means, we are investing less in fossil fuel companies while maintaining exposure in the energy sector through our investments in companies that are well-equipped for the green transition.

How does Danske Bank assess fossil fuel companies?

Danske Bank has developed a comprehensive model for assessing fossil fuel companies based on the Transition Pathway Initiative (TPI) and other global data sources. This model evaluates companies based on greenhouse gas emissions, management’s mitigation of transition risks, fossil fuel expansion activities, and EU taxonomy-aligned investments. Only companies with credible transition plans will be considered for investments.

In which countries will the Danske Bank fossil fuel policy apply to?

The Danske Bank fossil fuel policy will initially apply to investment strategies in Denmark, Sweden, Finland, and Luxembourg, as well as to Danica Balance funds, covering around 85% of all assets under management.

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Mads Steinmüller

Mads Steinmuller currently serves as the Head of Climate and Nature at Danske Bank Asset Management. He is an experienced professional specialising in ESG and responsible investments, with a particular focus on biodiversity and climate-related issues. With a strong background in both analytics and public speaking, Mads is skilled at identifying risks and opportunities within investments and effectively communicating these insights to stakeholders. His credentials include being a Certified ESG Analyst, CFA charterholder, and EFFAS member, alongside a Master’s degree in Economics.

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