First big Danish pension firm blacklists China
AkademikerPension (AP) has become the first big Danish pension firm to exclude China when considering investment.
Running at 140,000 members, the firm cited a dubious human rights record as the reason for divesting its shares in Chinese companies and government bonds.
“We have long been observing China. It is well-documented that the country is systematically violating human rights and we can no longer turn a blind eye,” said Jens Munch Holst, the head of AP.
Uyghurs and Hong Kong
More specifically, AP has scrutinised China’s law changes in Hong Kong as well as its harsh treatment of its Uyghur minority group and political opposition.
AP, which changed its name from MP Pension earlier this month, stated that it expects to secure about 400 million kroner for divesting its Chinese assets.
“Our ambition is to step up our profile in regards to responsibility. Our motto is that dividend and responsibility go hand-in-hand and it is therefore difficult to maintain China in our portfolio,” said Holst.