DENMARK – Danish pension funds have rejected calls by a UK human rights group to divest from companies that supply manufacturers of unmanned drones used in war zones.   Reprieve, a London-based organisation better known for its global campaign against the death penalty, had claimed pension funds including PensionDanmark, PFA, Nordea Liv og Pension, Danica Pension and Unipension were effectively profiting from strikes that had killed thousands of people in Pakistan, Somalia and the Yemen.   Thomas Kjærgaard, who oversees socially responsible investment (SRI) and corporate governance for Danica Pension parent Danske Bank, said the pension scheme's policy was to ensure client funds were not placed in companies that violated international norms.   "We have an expert adviser to screen the investment universe, and we listen to experts regarding assessment of various issues that could result in norm violation – also in regards to the use of drones," he said.    However, he acknowledged that use of drones could be "problematic".   Jens-Christian Stougaard, SRI director of €18bn labour market scheme PensionDanmark, which was singled out for an alleged DKK125m (€16.7m) investment in companies including Boeing, Honeywell and General Electric, said there were no grounds to divest from companies based on the production of components used to manufacture drones.    "Given the current state of information there are no indication to us that the companies in question are in breach with international conventions, under EU or UN sanctions, or in breach with PensionDanmark’s investment guidelines," he said.    Neither pension fund ruled out future divestment if the companies identified were found to be in breach of international conventions or their own investment guidelines. Both said they would monitor the issue.

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