PRI welcomes back Danish pension funds
December 08, 2016
ATP, PFA, PKA and Sampension confirmed in a joint statement today that they had decided to resume membership of the UN’s Principles for Responsible Investment.
They were among six Danish institutions that announced they would be leaving the PRI in December 2013, citing failures to live up to basic requirements on good corporate governance and member democracy.
The pension schemes said the decision had been made after three years of “critical dialogue” with the PRI, and that during the period they still complied with the PRI’s principles.
The four companies noted that the PRI’s board has listened to the criticism that lead to the pension companies’ exit three years ago…The four companies are satisfied that PRI has listened to the criticism and made important corrective arrangements in order to improve its own management.
The PRI’s chair Martin Skancke, said it had held “constructive informal discussions” with the funds over the last few months. He added: “This overwhelming support for the new governance structure and articles of association clearly demonstrated that signatories were pleased with and h and supportive of these changes.”