For most of us, the impact of our pension savings may be one of the greatest marks we leave on the planet. As a customer, you can help push the world in a better direction with VækstPension Aftryk.
The investments in VækstPension Aftryk take a broad and sustainable perspective, contributing each in their own way with solutions to the challenges facing our planet. At the same time, they also have the potential to deliver attractive financial returns.
Our savings product relies on four investment pillars, all of which play a vital role in achieving a sustainable transition.
VækstPension Aftryk offers a competitive alternative to Velliv’s other investment options with similar long-term return expectations, but potentially more ups and downs in the short run. Risk is automatically reduced as you approach retirement.
The world needs a new direction
At Velliv, we see both a significant investment and societal potential in investing in those who are ready for change and those who are paving the way for us to achieve sustainable development as a society.
The journey to change is a marathon, not a sprint. That is why we are pacing ourselves for the long haul.
By investing with a broad and long-term perspective, and working purposefully with active ownership, we aim to clear the path for new solutions.
Four strong investment categories
VækstPension Aftryk is built on four investment categories that each contribute to pushing the world in a more sustainable direction. This makes room for both new and established champions. Because the world urgently needs companies that combine economic strength with measurable, positive change.
We invest in Leaders (‘Frontløbere’) – their activities help push the world in a more sustainable direction, for example by improving public health, contributing to renewable energy or by delivering innovative technologies. Or, to put it another way, these are investments that take the lead in terms of sustainable development.
We also invest in Transitioners (‘Omstillere’)– companies that are ready for change and operate in industries that society cannot do without. They have set the sail for transformation and chartered a clear course to promote sustainable development.
And because we are committed to change, we are taking it one step further by investing in Enablers (‘Katalysatorer’)– companies that pave the way for us to achieve sustainable development as a society. For example, by providing essential technology, infrastructure, financing or metals. At the end of the day, we rely on batteries made from lithium if we are to store energy from renewable sources, and we need banks to finance wind and solar farms.
Finally, we also invest in ESG best-in-class (‘ESG-ledere')– players who are considered among the best in their field at addressing environmental (E), social (S) and governance (G) considerations. They represent a wide range of sectors, industries and countries and contribute to creating the necessary robustness and risk diversification in VækstPension Aftryk.
All of the investments share a common thread: they play an important role in sustainable development and offer the potential for attractive long-term returns – and every single one is essential, none can be overlooked.
Leaders 
Transitioners 
Enablers 
ESG best-in-class Leaders
Investments in this category include activities that help push the world in a more sustainable direction, for example by improving public health, contributing to renewable energy or by delivering innovative technologies. Or, to put it another way, these are investments that take the lead.
Leaders are players who Velliv believes have already taken the necessary steps today to contribute to a more sustainable future. These are actors who provide products, services or other offerings that directly benefit the social or green transition. This could be technology that generates renewable energy or that promotes financing of initiatives that specifically support gender equality.
This category includes listed shares and corporate bonds. Additionally, the leaders category includes alternative investments, impact investments, real estate and social and green bonds.
Meet one of our leaders
Annapurna Finance is a financial institution that helps primarily female entrepreneurs in rural areas with working capital and small loans. Annapurna Finance has a loan portfolio of more than US$1.1 billion, and by the end of December 2023, the company had helped more than 2.6 million entrepreneurs.
Access to working capital and small loans plays a crucial role in the development of low-income countries and is an important means of eradicating poverty and increasing gender equality. Therefore, the investment falls within the leaders category.
Transitioners
These are companies that are ready for change and operate in industries that society cannot do without. They have set the sail for transformation and chartered a clear course to promote sustainable development.
Common to these investments is that the companies must have a clear and transparent plan and have set themselves concrete and realistic targets or initiated initiatives that promote the social or green transition.
We are particularly focused on emission-intensive sectors such as industry, supply, materials and real estate, as they are responsible for the majority of global carbon emissions. These sectors therefore have both the most urgent need – and the greatest potential – to make a difference.
The category also includes investments that contribute to a better social balance in the world. The investment focus is especially on initiatives that promote diversity, health and well-being. Transitioners are also investments in government bonds with special objectives that support sustainable development.
Meet one of our transitioners
Velliv has invested in a sustainability-related bond issued by Chile in 2022. The bond is designed to give Chile an economic incentive to enhance the green transition in the country.
The bond is tied to a reduction of the country's total greenhouse gas emissions and also seeks to influence the country's electricity consumption, increasing the share of energy from renewable sources.
By issuing this bond, Chile commits itself to annually publishing a report explaining the progress on climate targets and documenting the sustainable transition it is undergoing. Therefore, the investment falls within the transitioners category.
Enablers
Investments in companies that pave the way for us to achieve sustainability development as a society. For example, by providing essential technology, infrastructure, financing or metals. At the end of the day, we cannot manufacture batteries without lithium, and we need banks to finance wind and solar farms.
Enablers are investments in companies that offer various forms of support, such as financing, technology, innovation and transition metals (copper, nickel, lithium and cobalt). They facilitate or contribute to others making progress with their transition towards a more sustainable development.
Velliv scouts the pacesetters and selects the ones that are assessed to have the best opportunities to help society reach its sustainability targets. To achieve this goal, we have developed our own sector models with specific requirements for investments in each sector.
Meet one of our enablers
Pilbara Minerals is an Australian mining company primarily engaged in lithium production and development.
In addition to extraction, the company focuses on further processing of lithium. The company’s activities account for a larger share of the value chain, delivering materials for use in battery production.
Lithium plays a crucial role in the green transition as it is a key component in batteries for electric vehicles that aim to reduce dependence on fossil fuels. Lithium batteries are also used in energy storage systems for renewable energy. Therefore, the investment falls within the enablers category.
ESG best-in-class
Investments in this category are actors considered to be among the best in their field at addressing environmental (E), social (S) and governance (G) considerations. They represent a wide range of sectors, industries and countries and contribute to creating the necessary robustness and risk diversification in VækstPension Aftryk.
ESG best-in-class are those that ensure that VækstPension Aftryk has the necessary breadth and risk diversification.
We have established individual criteria for when an investment can be included in this category. For example, in case of listed equities and corporate bonds, companies must meet Velliv's minimum requirements for their ESG scores, as sourced from our external data providers, before they can be included in this category.
Meet one of our ESG best-in-class
Velliv invests in government bonds to ensure a balance between return and investment risk. In this category, Danish government bonds are particularly noteworthy as an ESG best-in-class option. This is because Denmark has generally made significant progress in sustainable development compared to many other countries.
For example, the Danish Parliament adopted the Danish Climate Act in 2020, which the Danish Ministry of Climate, Energy and Utilities described as ”an ambitious and binding climate act”. The act stipulates, among other things, that Denmark must reduce its greenhouse gas emissions by 70 per cent in 2030 compared to 1990 levels.
With the Climate Act, Denmark is committed to becoming a carbon-neutral society by no later than 2050. Denmark's climate efforts are rooted in one of the fundamental principles of preserving the strong welfare state. As such, Denmark also focuses on ensuring that the path to carbon neutrality is fair and with focus on social balance. As a result, bonds issued by the Danish government fall within the ESG best-in-class category.
VækstPension Aftryk invests in companies such as
Hornsea Two
John Deere
SAP
How leaders contribute to sustainable development
Planet
49%
Based on a medium risk profile with 15 years until retirement. Updated 31/8 2024
People
51%
Based on a medium risk profile with 15 years until retirement. Updated 31/8 2024
This is how it is calculated
Above, you can see how investments in the leaders category are distributed in terms of whether they have an impact on planet or people.
For investments in listed equities and corporate bonds that fall under the category of leaders, we take as our starting point the extent to which the company’s revenue contributes to the UN’s Sustainable Development Goals (SDGs).
We divide the SDGs into people and planet
A company can have multiple revenue streams, and in those cases, we assess each stream to determine which goal it contributes to. A revenue stream can only contribute to one goal.
Further down this page, you can see how we categorise the UN’s Sustainable Development Goals into either planet or people. We use data from external suppliers on the contribution of investments’ revenue to the UN’s Sustainable Development Goals.
For the other asset classes in the leaders investment category, their footprint is allocated to either people or planet, depending on the investment’s purpose and available information. For example, green bonds and forestry investments will fall under planet, while social bonds will fall under people.
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Planet
The listed shares and corporate bonds contribute to environmental goals when the individual investment has one or more sources of income that positively support the following SDGs:
- Clean Water and Sanitation (SDG 6)
- Affordable and Clean Energy (SDG 7)
- Sustainable Cities and Communities (SDG 11)
- Responsible Consumption and Production (SDG 12)
- Climate Action (SDG 13)
- Life below Water (SDG 14)
- Life on Land (SDG 15)
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People
The listed shares and corporate bonds contribute to social goals when the individual investment has one or more sources of income that positively support the following SDGs:
- No Poverty (SDG 1)
- Zero Hunger (SDG 2)
- Good Health and Well-being (SDG 3)
- Quality Education (SDG 4)
- Gender Equality (SDG 5)
- Decent Work and Economic Growth (SDG 8)
- Industry, Innovation and Infrastructure (SDG 9)
- Reduced Inequalities (SDG 10)
- Peace, Justice and Strong Institutions (SDG 16)
Return and costs
We expect that the long-term returns in VækstPension Aftryk will be at the same level as Velliv’s other products, where the risk will automatically be decreased as you approach the disbursement of your pension. However, there may be more highs and lows in the short run. This is due to the fact that VækstPension Aftryk has a narrower investment universe.
Read more about Velliv's other investment forms Aktiv and Index and get an overview of the return and risk as well as costs for the different investment forms.
How to choose VækstPension Aftryk
If you already have VækstPension Aktiv or Index, you can log into Mit Velliv and switch to VækstPension Aftryk on the ‘Investment’ page.
If you do not have VækstPension, you can contact us via the app or call us on +45 70 33 99 99, and we will help you get started.
We are thorough when selecting investments
Our investment approach in VækstPension Aftryk is characterised by transparency and thoroughness. This applies both when Velliv selects investments and when external managers invest on our behalf.
In VækstPension Aftryk, we have a global investment focus, and the starting point is therefore a broad investment universe across asset classes.
When Velliv selects the investments to be included in VækstPension Aftryk, we carry out a thorough analysis of the individual investment opportunities. The analyses are based on relevant information and available data. As access to information and data may vary depending on asset class, sustainability analyses are adapted to the possibilities of each asset class. We continuously improve our selection process to take this into account.
How we select asset managers
When we select our external partners who manage investments on our behalf, we conduct a thorough analysis of how they work with sustainability. Among other things, we look at their organisational setup within sustainability, how they have integrated sustainability into the investment process and their reporting on this area.
Our exclusion criteria
With VækstPension Aftryk. we prioritise investments in companies that create a favourable impact, and we are also clear on what we will not invest in.
We opt out of investments that do not meet our exclusion criteria. We therefore exclude investments in companies that produce and/or extract fossil fuels as well as investments with more than 5 per cent revenue from arms trade, alcohol, gambling and pornography. Furthermore, Velliv does not wish to invest in government bonds issued by countries that Velliv does not believe to have a satisfactory governance and management approach.
We continuously monitor our investments
We monitor our investments and external partners closely. We regularly re-visit the investments we make ourselves and assess whether adjustments need to be made.
When we monitor investments, we look at whether the companies have been involved in controversy, e.g. related to working conditions. We also look at whether there have been changes in our external data providers' ratings in environmental, social and governance areas.
In addition, we continuously monitor our external managers. We do this to ensure that they continue to comply with Velliv’s requirements when it comes to sustainability.
Active ownership is the anchor
We use active ownership to push the companies we invest in and our external managers in a more sustainable direction. This includes, among other things, voting at the companies' general meetings. Here, for example, we oppose board members who do not address ESG-related risks, and we support proposals that push the company in a more sustainable direction. Velliv’s voting is managed by an external data advisor based on a voting policy that is in line with Velliv’s strategic goals and values.
Velliv also engages in dialogues with the companies and our external managers. The purpose is to identify sustainability-related risks and influence companies to implement measures that support sustainable development.
Last but not least, Velliv engages in dialogues with companies that violate international principles of responsible corporate governance through an external data advisor. We do this to avoid similar breaches occurring in the future.
For those who want to know more
Twice a year we publish a list of our investments in VækstPension Aftryk. You will find our inventory lists further down the page. You can read our exclusion criteria here.
We also report on our work on active ownership. You can find our latest report, which contains a summary and examples of how we practice active ownership here.
Once a year, we publish a report that illustrates how VækstPension Aftryk has contributed to sustainable development. The report also goes under the name 'periodic reporting’ and will be published in accordance with the EU Sustainable Finance Disclosure Regulation (SFDR) – you can find it here.