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ESG key figures

PensionDanmark has decided to publish a list of ESG key figures (Environment, Social and Governance), calculated according to the guidelines published by FSR – Danish Auditors, Nasdaq and the Danish Finance Society in June 2019. In order to give credence to these ESG key figures, we have also included them in our independent auditor’s report as the first pension provider in Denmark.

Environmental data

  Unit 2024 2023 2022 2021 2020
CO2e emissions from company            
CO2, scope 11 Tonnes 53 65 74 45 42
CO2e, scope 2 (market-based) Tonnes 31 38 33 67 58
CO2e, scope 2 (location-based) Tonnes 73 102 174 212 213
Energy consumption (scope 1 + scope 2)1 GJ 7,122 7,307 7,930 9,154 7,247
             
Renewable energy share (scope 2)1 % 83.6 81.4 81 82.2 78.2
             
CO2e, scope 3 estimated            
C1: Purchased goods and services Tonnes 5,941 7,550 6,103 6,674 6,229
C2: Capital goods, Tonnes

736

1,329

1,145

 2,524 2,870
C5: Waste Tonnes 1 1.4 1.2 1.2 1.1
C6: Business travel1 Tonnes 245.9 123.5 93.3 15.4

44.2
C7: Employee commuting Tonnes 185.7 164 126.8 122,5 112,7
C15: Investments2 Tonnes of CO2e 1,664,497 1,816,446 1,499,314 1,681,892 1,099,284
CO2e, scope 3, total Tonnes 1,671,607 1,825,614 1,506,783 1,691,229 1,108,541
             
Other company-related environmental data:            
Water consumption m3 2,960 3,004 2,809 2,769 2,552
  1. Energy consumption and renewable energy share are calculated based on scope 2 location-based.
  2. Excl. government bonds. The emissions are not consolidated due to double counting with other asset classes.

Environmental data - Investments

  Unit Target 2030 Target 2025 2024 2023 2022 2021 2020
CO2 emissions from listed equity portfolio:                
Total emissions Tonnes of CO2e     472,056 539,696 528,084 727,640 529,224
CO2 footprint Tonnes/DKKm < 4.4 < 6.3 4.0 6.0 6.2 6.9 6.3
                 
CO2 emissions from corporate bond portfolio:                
Total emissions Tonnes of CO2e     491,896 564,709 527,770 551,281 428,185
CO2 footprint Tonnes/DKKm < 14.5 < 20.7 16.2 18.7 22.8 22.6 24.1
CO2 footprint, excl. green bonds  Tonnes/DKKm < 12.6 < 18.0  13.9 16.3 19.6 20.9 22.2
                 
CO2 emissions from private equity portfolio:                
Total emissions Tonnes of CO2e     94,279 75,398 74,969 57,096 40,896
CO2 footprint Tonnes/DKKm  < 2.9  < 4.1 3.2 3.2 3.3 3.7 4.1
                 
CO2 emissions from private debt portfolio:                
Total emissions Tonnes of CO2e     45,338 58,103 77,542 92,263 90,827
CO2 footprint Tonnes/DKKm  < 5.5  < 6.4 2.8 3.8 5.5 7.3 9.2
                 
CO2 emissions from infrastructure portfolio1:                
Total emissions Tonnes of CO2e     476,900 469,582 177,485 121,968 -
CO2 footprint Tonnes/DKKm < 17.2 <18.7 17.8 19.6 10.3 10.5 -
                 
Danish mortgage bond portfolio1:                
Total emissions Tonnes of CO2e     80,173 103,811 107,104 123,724 -
CO2 footprint Tonnes/DKKm < 1.8 < 2.3 1.6 2.1 2.6 2.7 -
                 
CO2 emissions from real estate portfolio:                
Total emissions Tonnes of CO2e     3,855 5,147 6,360 7,920 10,152
CO2 footprint Tonnes/DKKm  < 0.3  < 0.35 0.2 0.2 0.3 0.3 0.5
CO2 intensity kg/sqm  < 6.9  < 8.0 4.3 5.8 7.7 8.9 11.6
                 
CO2 emissions from sovereign bonds2,3:                
Total emissions Tonnes of CO2e     432,582 431,415 369,019 - -
CO2 footprint: Tonnes/DKKm     27.9 29.8

29.3

 - -
                 
Total CO2 footprint of equities and corporate bonds  Tonnes/DKKm < 6.4 < 9.1 6.5 9.2 9.8 9.8 9.4
Total CO2 footprint of equities and corporate bonds, excl. emissions from green bonds Tonnes/DKKm < 6.2 < 8.9 6.0 8.6 9.1 9.5 9.1
                 
Total CO2 footprint of investment portfolio4 Tonnes/DKKm     5.7 7.1 6.6 6.9 7.7
                 
Ownership of green infrastructure, capacity5 MW   1,300 996 1,087 952 893 1,108
Avoided CO2 emissions from ownership of green infrastructure, estimated5 Tonnes of CO2   >2,000,000 1,225,405 1,244,357 1,309,478 1,511,358 1,902,220
Cumulative renewable energy capacity expansion since 2021 MW 800   559 338 254 - -

1 Data not available for computation in 2020.
2 Data not available for computation in 2020-2021.
3 Emissions and CO2 footprint for sovereign bonds have been calculated using data from Climate Watch, including LUCF. Excluding LUCF, the figures for 2024 are respectively 381,110 tons and 24.6 tonnes/DKKm. The emissions according to UNFCCC data, including LULUCF, are respectively 145,683 tons and 17.0 tonnes/DKKm. Excluding LULUCF, the figures for 2024 are calculated to be respectively 145,632 tons and 17.0 tonnes/DKKm.
4 Excl. government bonds. The emissions are not consolidated due to double counting with other asset classes.
5 PensionDanmark has not set targets for this after 2025. Instead, targets have been set for the development of new capacity within renewable energy.

Social data

Social data Unit 2024 2023 2022 2021 2020
Full-time staff FTE 382 363 336 321 291
Gender diversity % 41.7 42.8 43.3 43.8 43.7
Gender diversity for managers with personnel responsibility % 37.6 39.9 43.5 43.9 44.3
Gender diversity, other management tiers % 28.6 36.4 39,4 33,3 33,3
Gender pay gap Times 1.2 1.3 1.2 1.3 1.3
Staff turnover % 7.3 12.1 18.7 18.1 12.0
Sickness absence Days/FTE 4.3 7.1 7.1 6.8 4.7
Taxes paid DKKm 932 67 5,829 2,362 3,565

Governance data

Governance data Unit 2024 2023 2022 2021 2020
Gender diversity, Board of Directors % 12.5 22.2 22.2 27.8 23.5
Members of the Board No. 16 18 18 18 17
Board meeting attendance % 90.9 92.3 91.0 95.0 85.3
Salary gap between CEO and employees Times 7.6 7.7 8.9 8.9 8.7