Municipalities invest hundreds of millions in blacklisted firms

Danish municipalities and regions have invested hundreds of millions of kroner in securities blacklisted as problematic by Danish pension companies or the UN, reports Danwatch. A new database documents the investments of Denmark’s 98 municipalities and five regions. Out of 66.7 billion kroner invested in over 140,000 securities, 414 million kroner are in 5133 dubious securities. 75 local authorities have invested 25.5 million kroner in controversial weapons while 62 have put 17 million kroner into firms on the UN’s blacklist due to their West Bank activities. Investments in major oil firms like TotalEnergies, Shell, Chevron, and Aramco are also significant. Kalundborg Municipality, differed with investments in over 70 excluded companies, against Copenhagen’s 11. Kalundborg stated that such investments are divested when found non-compliant. 23 municipalities and one region reported having no problematic investments.