Socially responsible investing

Pensioenfonds PGB is about more than money alone. We consider it essential that our investments offer a good return but are, at the same time, socially responsible.

In 2020, we raised our socially responsible investment (SRI) policy to a higher level by opting for an ‘integrated policy’. This means that we will apply our SRI requirements for all our investments. Pensioenfonds PGB uses 3 primary values here: limitation, reinforcement and use. These summarise what we want to achieve with our SRI policy: to limit sustainability risks, reinforce the corporate social responsibility of the companies that we invest in and use the opportunities to contribute to a socially responsible future for our participants, so that as a pension fund, we contribute towards a good pension in a liveable world. 

If you would like to know more, see our SRI policy here. 

  • Limitation: exclusion of companies

    Pensioenfonds PGB does not wish to invest in companies that do not comply with our SRI requirements. This is consistent with the ‘Ten Principles’ of the United Nations. And in that way, we take account of our participants’ wishes. For example, we do not invest in tobacco producers, companies that manufacture or trade in prohibited weapons and companies that permit child labour. In 2018, we also reduced our investments in coal, as these fossil fuels cause excessive CO2 emissions. 

    Click here to see which companies are excluded from our investments 

  • Reinforcement: engagement

    Pensioenfonds PGB actively conducts talks with the companies in which we invest. Or we vote at meetings of shareholders. We believe that in this way, we can exert an influence on the social responsibility behaviour of these companies. Because we invest in a very large number of companies, we cannot conduct these talks and perform the voting ourselves. We work together with a specialised agency for this: BMO Global Asset Management (BMO).  

    If you would like to know more about this, see the results of the engagement activities (Dutch only). 

    Also see our 2020 voting table (Dutch only), which shows how Pensioenfonds PGB voted in 2020. 

  • Use: positive impact

    In our view, SRI goes beyond wanting to avoid harm to people and the environment. Pensioenfonds PGB seizes opportunities to contribute towards a better worldHow do we do that? We have joined the Sustainable Development Investments (SDI) Asset Owner PlatformThis is a platform that supports the Sustainable Development Goals of the United Nations. It provides an insight into the extent to which our investments really have a positive impact. These goals have been signed by almost every country in the world. They include controlling climate change.


Pensioenfonds PGB’s mission is to provide for ‘a good pension in a liveable world’. We cannot do that alone. We therefore work with other parties. For example, the IMVB covenant, which we have signed. We are also members of VBDO and UNPRI and are affiliated to various national and international initiatives such as the Climate Agreement Commitment of the Pensions Federation  and Climate Action 100+. We also support the 'Task force on Climate-related Financial Disclosures’ (TCFD). In this way, we work together on a better world. 

If you would like to know more about the results of our SRI policy, please see our Annual Report on SRI, or read our SRI policy (Dutch only). This explains what we consider important in the field of SRI, and why. 

View our film of socially responsible investing: