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. In addition, in the PGGM funds we can also exclude companies that violate human rights or that cause serious environmental damage. In such instances, we first attempt to realise improvements by engaging in dialogue with the company. If that fails, we can proceed with exclusion.

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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