Exclusions

PGGM wants to avoid making any investments which we or our clients deem unsuitable. Consequently, in the PGGM mutual funds and in mandates we manage internally for individual clients (hereinafter ‘PGGM funds’) we refrain from investing in controversial weapons and tobacco.

Furthermore, in the PGGM funds we exclude investments in government bonds issued by countries, if those countries are submitted to sanctions of the UN Security Council and/or the European Union. These sanctions can be the result of a situation of severe and systematic violations of human rights, or the use of controversial weapons.

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