City of Copenhagen sells off all its Maersk shares

The A.P. Moeller-Maersk conglomerate is not climate friendly enough for the capital of Denmark. Copenhagen sells all its Maersk shares and screens it entire equity portfolio to find all oil-related businesses.

Copenhagen Mayor Frank Jensen | Photo: Torben Strøyer

The City of Copenhagen (KK) is offloading all its shares in conglomerate A.P. Moeller-Maersk which apart from being a huge stakeholder in the global transportation and oil industry is one of the most important employers in the Danish capital.

The mayor's office confirms to ShippingWatch that the City of Copenhagen has decided to sell off its shares due to the environmental harm caused by the Maersk Group's oil production. The same applies to shares in other companies operating in the coal, oil and gas industries, which also soon will be history in Copenhagen's stock portfolio.

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