The Dutch metal working pension fund PMT said on Monday that
it had sold all its interests in companies which do not meet its own ethical,
sustainable and governance standards.
In total, the pension fund has divested
shares worth a total of €6bn, halving the number of companies in which it
invests to 800. In particular, the fund no longer invests in companies involved
in tobacco, the fur industry, the porn industry or which produces weapons.
The
fund, one of the biggest in the Netherlands, says it has been working on the
shift in strategy for two years and has taken the opinion of its participants
into account.
From now on, PMT will only invest in ‘solid companies which
perform well, carry out their business responsibly and which are accountable
for what they do and do not do,’ the pension fund said in a statement.
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