Dutch metals industry scheme PMT has significantly increased its ambition for impact investing, as the €71bn pension fund wants to increase its investment in the UN’s Sustainable Development Goals (SDGs) from the current €2bn to €10bn by 2030.
Some 35% of these investments will have to be focused on the fund’s home country the Netherlands, the fund said in its newly announced climate plan for 2030.
The scheme is relatively most ambitious when it comes to investing in the energy transition: these investments will have to increase 10-fold to €4bn by 2030.
Next to the energy transition, PMT has four other focus themes for its impact investments, all of which are linked to one or more SDGs. The themes are ‘a circular economy’ (SDG 12: Responsible Production & Consumption); ‘innovation in Europe’ (SDG 8: Decent Work and Economic Growth, and SDG 9: Industry Innovation & Infrastructure); ‘affordable housing’ (SDG 11: Sustainable Cities & Communities), and healthcare (SDG 3: Good Health & Wellbeing).
According to PMT, investors can only make an impact by investing in illiquid investments.
“Listed equities are not an impact investment for us. They do not meet our criteria for measurability,” said Rebecca Wörner, responsible investment strategist at PMT.
This view is markedly different from those of other large pension funds including ABP, PFZW and PGB.
According to these schemes, it’s very possible to measure the impact of listed investments. ABP and PFZW even have developed a bespoke tool to measure this factor: the Sustainable Development Investment – Asset Owner Platform (SDI-AOP).
For the original article, go to Pensioen Pro
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