Largest client PGGM continues to invest in seven listed oil and gas companies

This means that since the beginning of this year they no longer invest in, for example, Shell, BP and TotalEnergies. The seven listed oil and gas companies in which PFZW still invests appear to be the leaders in the sector. They are convincingly committed to the conversion of fossil energy to sustainable energy or currently mainly produce energy with a low CO2 footprint.

In 2022, PFZW started an intensive 'engagement' program towards the oil and gas sector. This means that they have entered into discussions to encourage these companies to make a concrete and demonstrable contribution to limiting global warming. During the conversations it became clear that most oil and gas companies are still having great difficulty meeting the Paris goals. Some are investing in sustainability, but it is too little and it is happening too slowly. Ultimately, 310 companies were sold with a total value of € 2.8 billion. As the implementing organization of PFZW, we at PGGM were closely involved in setting up and implementing this program. Read the press release from Pension Fund PFZW here.

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