Initially, the minister had not given them satisfactory answers regarding the nature of the investment of pension funds.
The environmental organisation was particularly interested to what extent pension funds are used in accordance with the Paris Agreement. More specifically, they hoped to find out whether or not the funds are invested in fossil fuels rather than sustainable companies.
In 2018, Greenpeace deplored, the funds were still massively invested in companies active in the fuel and coal sectors. Notably, the organisation deplored that the Luxembourgish pension fund invested in 32 of the 40 largest fracking businesses in 2018, as well as in 27 of the 50 businesses deemed to be the highest fossil fuel producers following the ‘Carbon Majors’ database.
Presenting their findings, Greenpeace Luxembourg members highlighted that the amount the fund ( Fonds de compensation commun au regime general de pension - FDC) has invested in the biggest fossil fuel companies has risen from €159 million in 2015 to more than €211 million in 2018.
