First Danish pension fund blacklists China

A Chinese protester is arrested during a demonstration in Hong Kong in May 2020. The regime’s harsh intervention against democracy protests has helped convince AkademikerPension that the company will no longer be associated with the Chinese state. Photo: Vincent Yu / Ritzau Scanpix

The Danish pension fund AkademikerPension, formerly known as MP Pension, announced in the third quarter of 2020 that the fund would no longer invest in the Chinese state after the country’s human rights abuses in Hong Kong and Xinjiang. AkademikerPension is the first Danish pension fund to blacklist China.

AkademikerPension has 140,000 members. 

Jens Munch Holst, director of AkademikerPension, told the Danish media Politiken that the company does not want to be in a place where human rights are violated continuously.

AkademikerPension will now sell all Chinese government bonds and shares in state-owned Chinese companies. They have a value equivalent to approximately DKK 400 million. Jens Munch Holst explains that the decision has been difficult, as the Chinese market has been characterized by great growth, and the investments have therefore been rewarding for Danish pension customers.

He adds that the fund always tries to keep a balance between responsibility and return. Jens Munch Holst hopes that with the decision he can inspire others, as he is well aware that DKK 400 million does not mean much to the Chinese state.

 

About Mette Larsen

ScandAsia Journalist • Scandinavian Publishing Co., Ltd. • Thailand

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