Pension firm keeps oil companies on short leash: "Need a concrete plan for exiting oil"

The business model of oil firms isn't tenable in the long term due to the green energy transition, pension provider Pensam tells ShippingWatch, and the company's current exclusion list features oil outfits like Aker, Equinor and Chevron.

Photo: Russell Cheyne/Reuters/Ritzau Scanpix

Chevron and ExxonMobil were the first oil companies to be excluded from Pensam's investment universe. Then came Aker and Equinor, and the most recent additions to the list of excluded companies have made the pension company's blacklist grow to a total of 324 businesses.

Investors are posing strict requirements for a green agenda in investment portfolios, making it harder for oil and other energy companies to convince them that they can see a way out of their current business area, oil, in the foreseeable future.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs