For us, sustainable investing means that we not only take short-term returns into account with our investments, but also pay attention to the environment and climate, labour and human rights and good governance. Our choice of investments influences the world around us. Although that influence is modest, it is our responsibility to use it positively. In addition, based on various scientific studies, we believe that sustainable investments also lead to better investment results in the longer term.
We follow an integrated investment approach. This means our objectives and requirements for sustainable investment apply to all our investments. Pensioenfonds PGB uses three pillars: limit, strengthen and utilise. They summarise well what we want to achieve with our sustainable investment policy:
In this way, we as a pension fund contribute to a good pension in a liveable society.
Pensioenfonds PGB does not want to invest in companies that do not meet our requirements for sustainable investment. This is in line with the ‘Ten Principles’ of the United Nations. And this is how we take into account the wishes of our participants. For example, we no longer invest in tobacco companies, companies that make or trade prohibited weapons and companies that allow child labour. We also exclude companies that generate too much turnover from thermal coal, tar sands and shale gas. Lastly, we do not invest in companies that are on the applicable national and international sanctions lists.
Here you will find the most recent overview of the companies that are excluded from our investments.
Pensioenfonds PGB enters into active dialogue with companies in which we invest. Or we vote at shareholder meetings. We believe that in this way, we can influence the socially responsible behaviour of these companies. Because we invest in a lot of companies, we cannot hold those conversations and cast those votes ourselves. We work together with a specialist agency: Columbia Threadneedle Investments (CTI).
Want to know more about this? View the results of the engagement activities (Dutch only). Or view the engagement results of previous quarters under the heading ‘key documents’.
Also check out our voting table for 2021 (Dutch only). Here you can see how Pensioenfonds PGB voted in 2021.
As far as we are concerned, sustainable investment goes further than not wanting to harm people and the environment. Pensioenfonds PGB seizes opportunities to contribute to a better world. So how do we do that?
We have joined the Sustainable Development Investments (SDI) Asset Owner Platform. This is a platform that is part of the sustainable development goals of the United Nations. This provides insight into how big the positive impact of our investments really is. The goals have been signed by almost all countries in the world. One of those goals, for example, is to combat climate change.
In addition, we deliberately invest part of our assets in sustainable bonds. This may relate to climate or social goals.
Pensioenfonds PGB’s mission is to provide ‘a good pension in a liveable society’. We can’t do that alone. That’s why we collaborate with others. For example, through the IMVB covenant that we signed. We are also a member of VBDO and UNPRI. And we are affiliated with various (international) initiatives such as the Commitment Climate Agreement of the Pension Federation and Climate Action 100+. We also support the Task force on Climate-related Financial Disclosures (TCFD). This is how we collaborate on creating a better world.
Pensioenfonds PGB complies with national and international laws and regulations. Examples include the sanctions lists from the Netherlands, the European Union and the United Nations. But also to the European regulation regarding the provision of information that has been in force since March 2021, the so-called SFDR.
The SFDR is in line with our wish to communicate clearly and transparently about our investment policy and results. For more information, please refer to the SFDR publications below.
We want our participants to enjoy a good pension in a liveable society. This is only possible if there is a drastic reduction in CO2 emissions in the coming years.
To contribute to this, we signed the Commitment Climate Agreement in 2021 and promised to:
Our climate plan (Dutch only) has been drawn up in accordance with the guidelines of the Pension Federation. Our main short-term climate objective is to halve the carbon footprint of our investments by the end of 2030 at the latest. Or faster if possible.