Dutch fund giant PGGM plans to intensify engagement activities

The wide-ranging, 86-page report also disclosed that PGGM has excluded Israeli defence firm Elbit Systems from its investment universe after an unproductive dialogue about its role in a security system in the West Bank.The number of excluded companies has now grown to 40, from 33 at the end of 2009. PGGM had direct engagement with 154 companies in 2011, which is up from 48 in 2009.

This is done via a graphical representation on a ‘Social Impact Scorecard’ showing the expected impact on eight different areas. These are: employment; local development; capacity building; empowerment; health and safety; material use; ecosystems; and waste and emissions. For each investment, this impact is set out in a Social Impact Fund Fact Sheet.