In a bid to help the world reach the 17 UN Global Goals, six pension firms have teamed up with the Investment Fund for Developing Countries (IFU) to establish the Danish SDG Investment Fund.
PKA, PensionDanmark, PFA, ATP, JØP/DIP and PenSam have joined forces to set aside 4.1 billion kroner to realise the lofty UN goals while promoting Danish expertise and technology. It is expected that future investment will reach up to 30 billion kroner.
“The global goal fund is a concrete example of a paradigm shift in Danish development co-operation – we can’t live up to the global goals and lift people out of poverty without private investment,” said the development minister, Ulla Tørnæs.
“The participation of the Danish pension firms shows great leadership and global responsibility. The potential of the private sector in developing countries is enormous and can result in jobs, education and a better life for a lot of people in some of the world’s most impoverished countries.”
More specifically, the Danish SDG Investment Fund will invest share capital in companies in Africa, Asia, Latin America and parts of Europe in co-operation with the Danish business sector, which has strong competencies knowledge and technology across a number of strategic sectors.
The new initiative did not go unnoticed by the international community, particularly in Africa where the lion’s share of the investment is adjudged to take place.
“Ghana wants to praise Denmark for launching a global goal fund. When we invest in one another’s countries, the world becomes a better and wealthier place,” said Shirley Ayorkor Botchwey, the foreign minister of Ghana.
The IFU has invested in over 1,250 companies in more than 100 developing countries and the new agreement was signed at the UN City in Copenhagen.