{"id":46245,"date":"2019-09-24T07:17:47","date_gmt":"2019-09-24T06:17:47","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=46245"},"modified":"2019-09-24T07:17:48","modified_gmt":"2019-09-24T06:17:48","slug":"pensions-can-fund-the-green-new-deal","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/09\/24\/pensions-can-fund-the-green-new-deal\/","title":{"rendered":"Pensions can fund the Green New Deal"},"content":{"rendered":"<p>The FT <a href=\"https:\/\/www.ft.com\/content\/b22326f2-db31-11e9-8f9b-77216ebe1f17?segmentId=31267036-d221-9c5d-02f6-e1b25288af8d\" target=\"_blank\" rel=\"noopener\">reported yesterday<\/a> that:<\/p>\n<blockquote><p>A coalition of Danish pension funds plans to invest $50bn in clean energy projects by 2030 in an effort to galvanise support from other institutional investors to fight climate change.<\/p>\n<p>The Danish initiative, which is supported by Danish prime minister Mette Frederiksen, is led by PKA, a $45bn pension fund representing 320,000 members. Denmark\u2019s pensions sector has invested more than $19bn since 2010 in clean energy projects and measures to reduce the damage from pollution caused by the energy sector.<\/p>\n<p>Peter Damgaard Jensen, PKA chief executive, who co-ordinated the pension coalition, said the fight to prevent a climate catastrophe was \u201cthe greatest challenge\u201d facing the world.<\/p><\/blockquote>\n<p>Last week I wrote about <a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/09\/16\/funding-the-uk-green-new-deal\/\">funding the Green New Deal<\/a> and mentioned the role that pension funds could play in this. The Danish investment, in a country one-tenth the size of the UK, suggests that almost all the funding we need could come from such sources in the UK. I have not been so ambitious. But the point is clearly made by Denmark.<\/p>\n<p>And all pension funds might need to note this:<\/p>\n<p><a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/09\/24\/pensions-can-fund-the-green-new-deal\/screenshot-2019-09-23-at-17-47-27\/\" rel=\"attachment wp-att-46247\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-46247\" src=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2019\/09\/Screenshot-2019-09-23-at-17.47.27-550x304.png\" alt=\"\" width=\"550\" height=\"304\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2019\/09\/Screenshot-2019-09-23-at-17.47.27-550x304.png 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2019\/09\/Screenshot-2019-09-23-at-17.47.27-543x300.png 543w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2019\/09\/Screenshot-2019-09-23-at-17.47.27-768x424.png 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2019\/09\/Screenshot-2019-09-23-at-17.47.27-600x332.png 600w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2019\/09\/Screenshot-2019-09-23-at-17.47.27.png 1520w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The FT reported yesterday that: A coalition of Danish pension funds plans to invest $50bn in clean energy projects by 2030 in an effort to<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/09\/24\/pensions-can-fund-the-green-new-deal\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,74,29],"tags":[],"class_list":["post-46245","post","type-post","status-publish","format-standard","hentry","category-economics","category-green-new-deal","category-pensions"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/46245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=46245"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/46245\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=46245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=46245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=46245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}