- Data not available for performance measurement in 2018.
- Scopes 2 and 3 data (C2, C7 and C15) for all five years are reported under changed accounting policies. For more information and definitions, please see accounting policies for key ESG data in our CSR report.
- Energy consumption and renewable energy share are calculated based on scope 2 market-based.
- Data not available for performance measurement in 2018-2019.
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
| Miljødata - Virksomhedens egne udledninger | Unit | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|
| CO2e emissions from company | ||||||
| CO2, scope 11 | Tonnes | 74 | 45 | 42 | 79 | - |
| CO2e, scope 2 (market-based)2 | Tonnes | 33 | 71 | 56 | 66 | 448 |
| CO2e, scope 2 (location-based)2 | Tonnes | 174 | 455 | 386 | 412 | 448 |
| Energy consumption (scope 1 + scope 2)3 | GJ | 7,930 | 9,154 | 7,247 | 8,458 | 7,634 |
| Renewable energy share (scope 2)3 | % | 81 | 82.2 | 78.2 | 73.3 | 42.7 |
| CO2e, scope 3 estimated | ||||||
| C1: Purchased goods and services1 | Tonnes | 6,103 | 6,674 | 6,229 | 5,420 | - |
| C2: Capital goods2,4 | Tonnes |
1,145 |
2,524 | 2,870 | - | - |
| C5: Waste1 | Tonnes | 1.2 | 1.2 | 1.1 | 1.2 | - |
| C6: Business travel1 | Tonnes | 93.3 | 15.4 |
44.2 |
117.6 | - |
| C7: Employee commuting2,4 | Tonnes | 126.8 | 132.7 | 121.2 | - | - |
| C15: Investments2 | Tonnes of CO2e | 1,499,314 | 1,558,168 | 1,099,284 | 966,996 | 540,980 |
| CO2e, scope 3, total2 | Tonnes | 1,506,783 | 1,564,992 | 1,105,680 | 972,535 | 540,980 |
| Other company-related environmental data: | ||||||
| Water consumption | m3 | 2,809 | 2,769 | 2,552 | 3,150 | 3,040 |
Environmental data - Investments
| Environmental data – carbon footprint of investments: | Unit | Target 2030 | Target 2025 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|
| CO2 emissions from listed equity portfolio: | |||||||
| Total emissions | Tonnes of CO2e | 528,084 | 727,640 | 529,224 | 536,994 | ||
| CO2 footprint | Tonnes/DKKm | < 4.4 | < 6.3 | 6.2 | 6.9 | 6.3 | 8.4 |
| CO2 intensity | Tonnes/DKKm | 14.3 | 19.9 | 18.9 | 20.6 | ||
| Weighted average carbon intensity | Tonnes/DKKm | 15.6 | 18.5 | 19.4 | 18.4 | ||
| CO2 emissions from corporate bond portfolio: | |||||||
| Total emissions | Tonnes of CO2e | 527,770 | 551,281 | 428,185 | 372,108 | ||
| CO2 footprint | Tonnes/DKKm | < 14.5 | < 20.7 | 22.8 | 22.6 | 24.1 | 23.9 |
| CO2 footprint, excl. green bonds | Tonnes/DKKm | < 12.6 | < 18.0 | 19.6 | 20.9 | 22.2 | 22.9 |
| CO2 emissions from private equity portfolio: | |||||||
| Total emissions | Tonnes of CO2e | 72,969 | 57,096 | 40,896 | 47,863 | ||
| CO2 footprint | Tonnes/DKKm | < 2.9 | < 4.1 | 3.3 | 3.7 | 4.1 | 5.9 |
| CO2 emissions from private debt portfolio2: | |||||||
| Total emissions | Tonnes of CO2e | 77,542 | 92,263 | 90,827 | - | ||
| CO2 footprint | Tonnes/DKKm | < 5.5 | < 6.4 | 5.5 | 7.3 | 9.2 | - |
| CO2 emissions from infrastructure portfolio2: | |||||||
| Total emissions | Tonnes of CO2e | 177,485 | 121,968 | - | - | ||
| CO2 footprint | Tonnes/DKKm | < 7.5 | < 9.0 | 10.3 | 10.5 | - | - |
| Danish mortgage bond portfolio2: | |||||||
| Total emissions | Tonnes of CO2e | 107,104 | 123,724 | - | - | ||
| CO2 footprint | Tonnes/DKKm | < 1.8 | < 2.3 | 2.6 | 2.7 | - | - |
| CO2 emissions from real estate portfolio: | |||||||
| Total emissions | Tonnes of CO2e | 6,360 | 7,920 | 10,152 | 10,031 | ||
| CO2 footprint | Tonnes/DKKm | < 0.3 | < 0.35 | 0.3 | 0.3 | 0.5 | 0.5 |
| CO2 intensity | kg/sqm | < 6.9 | < 8.0 | 7.7 | 8.9 | 11.6 | 11.8 |
| Total CO2 footprint of equities and corporate bonds | Tonnes/DKKm | < 6.4 | < 9.13 | 9.8 | 9.8 | 9.4 | 11.4 |
| Total CO2 footprint of equities and corporate bonds, excl. emissions from green bonds | Tonnes/DKKm | < 6,.2 | < 8.93 | 9.1 | 9.5 | 9.1 | 11.2 |
| Total CO2 footprint of investment portfolio | Tonnes/DKKm | 6.6 | 6.9 | 7.7 | 8.8 | ||
| Ownership of green infrastructure, capacity4 | MW | 1,300 | 952 | 893 | 1,108 | 961 | |
| Avoided CO2 emissions from ownership of green infrastructure, estimated4 | Tonnes of CO2 | >2.000.000 | 1.309.478 | 1.511.358 | 1.902.220 | 2.297.000 | |
| Cumulative renewable energy capacity expansion since 2021 | MW | 800 | 254 |
- Data not available for the computation in 2019.
- Data not available for the computation in 2019-2020.
- Asset Owner Alliance goals relating to 2024.
- PensionDanmark has not set any targets for performance beyond 2025, but has instead set targets for the development of new renewable energy capacity.
Social data
| Social data | Unit | Target 2025 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|
| Full-time staff | FTE | 336 | 321 | 291 | 261 | 246 | |
| Gender diversity | % | 50.0 | 43.3 | 43.8 | 43.7 | 44.0 | 43.3 |
| Gender diversity, other management tiers | % | 50.0 | 43.5 | 43.9 | 44.3 | 45.2 | 41.6 |
| Gender pay gap | Times | 1.2 | 1.3 | 1.3 | 1.3 | 1.4 | |
| Staff turnover | % | 18.7 | 18.1 | 12.0 | 15.7 | 17.9 | |
| Sickness absence | Days/FTE | 4.5 | 7.1 | 6.8 | 4.7 | 6.6 | 7.0 |
| Taxes paid | DKKm | 5,829 | 2,362 | 3,565 | 298 | 2,826 |
Governance data
| Governance data | Unit | Target 2025 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|
| Gender diversity, Board of Directors (17 members) | % | 30.0 | 22.2 | 27.8 | 23.5 | 23.5 | 18.8 |
| Board meeting attendance | % | 95.0 | 91.0 | 95.0 | 85.0 | 82.0 | 88.0 |
| Salary gap between CEO and employees | Times | 8.9 | 8.9 | 8.7 | 8.6 | 8.5 |
Climate reporting
| Active commitment to climate action | Unit | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|
| Active ownership1 | ||||||
| Climate change dialogues | Number | 263 | 240 | 190 | 134 | 108 |
| of which own dialogues | Number | 10 | - | - | - | - |
| of which dialogues via ESG rating agency or the like | Number | 253 | - | - | - | - |
| Properties aligned with EU sustainability criteria2,6 | ||||||
| Existing buildings | % | 35.2 | 32.2 | - | - | - |
| New buildings (until commencement of use) | % | 100.0 | 100.0 | - | - | - |
| Total real estate portfolio | % | 43.7 | 38.6 | - | - | - |
| Sustainability certified properties | ||||||
| Existing buildings | % |
26.4 |
20.0 | 17.8 | 19.6 | 18.4 |
| New buildings (until commencement of use)3 | % | 97.4 | 97.1 | 89.4 | 100.0 | 87.5 |
| Sustainability of business models2 | ||||||
| Investments aligned with EU sustainability criteria | ||||||
| Equity portfolio4 | % | 5.2 | 5.6 | - | - | - |
| Corporate bonds5 | % | 8.8 | 7.9 | - | - | - |
| Real estate portfolio6 | % | 43.7 | 38.6 | - | - | - |
| Infrastructure7 | % | 57.0 | 54.0 | - | - | - |
- A response must have been received to the company’s inquiry to qualify as dialogue.
- Data not available for performance measurement in 2018-2020.
- The assessment of whether PensionDanmark’s new buildings are certified sustainable is based on pre-certifications.
- Proportion of PensionDanmark’s equity portfolio aligned with EU sustainability criteria, in terms of revenue, based on MSCI estimates.
- The proportion of PensionDanmark’s corporate bond portfolio aligned with EU sustainability criteria is an estimate based on whether a bond complies with ICMA’s green bond principles.
- Proportion of PensionDanmark’s real estate portfolio aligned with EU sustainability criteria based on data concerning the property’s energy efficiency.The assessment does not consider the ‘do no significant harm’ or ‘minimum social safeguards’ criteria due to unavailability of relevant data.
- The proportion of PensionDanmark’s infrastructure portfolio aligned with EU sustainability criteria is stated as ownership of green energy infrastructure deemed to do no significant harm to other environmental objectives and to comply with minimum social safeguards.