On the basis of the following ‘‘active ownership’ activities, PGGM fulfils the rights and responsibilities associated with being a shareholder in listed companies:
Voting
Voting rights are one of the most important ways to influence the course of a business. We therefore vote on the basis of our own judgement at meetings of shareholders. For each company, PGGM publishes its voting record and an explanation.
Download our voting guidelines here.
Engagement
As a pension investor we see it as our responsibility to engage with market parties and companies about their policies and activities. In this way, we attempt to reduce ESG-related risks and to stimulate companies to grow a positive footprint on society.
For our largest client PFZW in 2022, we started a two-year engagement program for the fossil fuel sector with the purpose of only remaining invested in companies that are meaningfully contributing to the goal of the Paris Agreement. This concluded at the end of 2023. We are now actively engaging companies in the Materials, Industrials, Utilities, and Food sectors. Read the PFZW Press Release: Only seven listed oil and gas companies retained in PFZW investment portfolio.
Legal proceedings
When necessary, we institute legal proceedings against companies on behalf of our clients as shareholder, to recover any investment losses and enforce good corporate conduct. Read more about current proceedings in our Integrated Annual Report.