Bringing Our 3D Strategy to Life within Private Equity

At PGGM, we believe that generating strong long-term returns and contributing to a more sustainable world are not competing objectives. They are mutually reinforcing. That belief is central to our 3D investment approach, which integrates return, risk and sustainability into every investment decision we make. 

In private equity, this means we look for opportunities that not only create value for our client PFZW and its participants working in the Dutch health care sector but also help address some of society's most pressing challenges. One example is Ambienta, a European private equity firm we have selected as external manager which focuses on environmental sustainability.

The fund is classified as Article 9 under SFDR, is considered a 100% Sustainable Development Investment (“SDI”) within the Private Equity portfolio, and actively reports on and is aligned with relevant United Nations Sustainable Development Goals:

#2 (Zero Hunger)

#3 (Good Health and Well-being)

#6 (Clean Water and Sanitation)

#7 (Affordable and Clean Energy)

#9 (Industry, Innovation and Infrastructure)

#11 (Sustainable Cities and Communities) 

#12 (Responsible Consumption and Production)

#13 (Climate Action).  

Through investments in companies that improve resource efficiency and reduce pollution, Ambienta demonstrates how private capital can support both financial objectives and measurable environmental outcomes.

Turning Strategy into Practice 

For us, allocations such as these illustrate how our 3D strategy comes to life in practice. They demonstrate that sustainability considerations can be deeply embedded in investment decision-making, rather than treated as a separate objective. Importantly, investments such as these are subject to the same rigorous underwriting, return expectations and manager due diligence as any other investment in our portfolio. 

We therefore expect a strong financial outcome alongside measurable sustainability impact. 

The companies supported through Ambienta's investment strategy span a wide range of industries, yet share a common characteristic: they contribute to measurable environmental improvements through their products and services. 

This aligns with PGGM's ambition to invest in businesses that are well-positioned for the future while contributing to the transition towards a more sustainable and resilient economy. Key themes include resource efficiency, pollution control, climate action and decarbonisation, and sustainable industrial innovation. 

By combining these impact objectives with a disciplined investment approach, private equity can contribute to both attractive risk-adjusted returns and meaningful sustainability outcomes. 

Collaboration 

Responsible investing requires more than identifying compelling investment opportunities. It also depends on rigorous due diligence, robust governance and close collaboration across disciplines. 

At PGGM, the Private Equity team leads the investment process, including sourcing opportunities, conducting due diligence and making investment recommendations. Throughout this process, the team works closely with specialists in risk management, sustainability, legal, compliance and operational due diligence, providing complementary expertise and independent challenge throughout the process.

This multidisciplinary approach strengthens decision-making and helps ensure that investments align with both our long-term financial objectives and broader sustainability ambitions.’