DENMARK – PensionDanmark has called on Denmark's building industry to start creating a code on socially responsible construction.

Torben Möger Pedersen, managing director of the labour market pension fund, said: "PensionDanmark proposes starting talks between the big private and public contractors and construction industry organisations on both worker and employer sides."

He told a real estate industry conference in Vejle at the end of last week that, over the last few years, there had been a high level of focus on how property owners and building contractors handled the demands of social responsibility regarding building sites.

The existing code of corporate governance could serve as the model for a socially responsible construction code, he said.

"It is optional for companies to use the code, but companies are expected to explain themselves if they choose not to follow all the recommendations," he said.

"It could be beneficial for the industry to work together to develop a code."

Separately, PKA has raised its target for infrastructure investment, saying it intends to treble its holdings in the asset class to DKK20bn (€2.7bn) within five years.

The pensions company, which runs five labour markets schemes mainly in the healthcare sector, said it expected to increase investments in infrastructure – with a particular focus on sustainable energy – to DKK20bn from the current level of DKK7.5bn.

PKA managing director Damgaard Jensen countered criticism that the Danish pensions industry failed to invest enough in climate and alternative energy sources.

"PKA has invested in the climate for many years, and we will continue to do that," he said.

He said this was partly because PKA thought this was a way of giving members a good return while at the same time trying to make a positive difference.

"And it is partly because our members expect us to do this," Damgaard Jensen said.

Last month, the Danish branch of the World Wildlife Fund said the country's pension funds were not using their huge potential for investment in renewable energy, and were keeping society dependent on fossil fuels through their investment.

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