Pensioenfonds PGB has joined the Pension Federation’s Climate Agreement Commitment. We also became a supporter of the Task Force on Climate-related Financial Disclosures (TCFD). Pensioenfonds PGB’s mission is to provide “a reliable pension in a liveable world”. These initiatives contribute to both a reliable pension and a liveable world. Both are initiatives to map climate risks and make the (financial) world greener.
A next step in the implementation of our climate policy
By signing the Pension Federation’s Climate Agreement Commitment
, we and other Dutch pension funds commit to the Paris climate targets. Pensioenfonds PGB for instance has set the target of reducing CO2 emissions from its investments at 50% by 2023.
Efforts for an international standard for environmental reporting
The Task Force on Climate-related Financial Disclosures (TCFD
) is working on the creation of an international uniform standard for climate-related reporting. This will make it easier to compare the green performance of companies and financial institutions. And it will also come to light more readily if companies or financial organisations are pretending to be greener than they are (greenwashing), thus counteracting greenwashing.
We’re not there yet
But we’re happy to take on the obligation to work towards the preservation of a liveable world in which you can enjoy a reliable pension. Seeking the cooperation of the entire financial sector is essential to the success of this mission; together we have more impact.
Agreements in the Pension Federation’s Climate Agreement Commitment
By signing the Commitment, the financial sector made the following agreements:
- The parties involved participate in the ‘financing of the energy transition’. They also accept a best-efforts obligation within the legislation and regulations frameworks and the risk-return targets.
- The parties take action to ‘measure the CO2 content’ of their relevant financings and investments. They will report publicly on this as of the 2020 financial year.
- By 2022 at the latest, the parties will produce their ‘action plans including reduction targets for 2030’. The parties will explain which actions they are taking to contribute to the Paris Agreement.
- This commitment is an integral part of the Climate Agreement. The parties will organise an annual consultation with all stakeholders on the progress of the implementation of the agreements.